The senate has approved The Plan
Long time no see
Finally the Senate has approved the rescue plan that was put forward by the american president George W Bush at the arrise of the recent financial crisis. The plan approved is a changed version as to the one that was fist put out.
The house of representatives rejected the plan
The house did earlier this week reject the first version of the plan, as they belived that the plan would favour the top of Wall Street. This would not be easy to defend to their voters during an election.
Is there a choise?
Once again I find it fair to ask, wether these politicians actually have any choise but to approve the plan? Some have said that there is no point in passing the plan as the amount that is going to be put into american economy is not big enough? But the again, if they do not pass the plan, they risk to be the politiciens that did not take the chance to save american economy even though they had the chance
Optimism to the market
I also think that passing this plan would bring a great deal of optimism into the market as it would make investor feel more safe.