Senate Voting On Rescue Plan For Financial Institutions Is A Success

By | October 11, 2008

After two days house rejected the $ 700 billion bail out, senate is set to vote on rescue plan for financial institutions. Voting finished on Wednesday October 8, 2008. One of the committee member for house financial services said that, he voted against the bailout bill because he thought that it is a wrong solution for economy problem like financial security. Even though some people are against the senate vote on this but bill got approved. It was good bill and good news for all the taxpayers.

People outside are caring about this bill and care about free market economics and they sent a mail for the House members regarding this issue and there may be any reason at last the bill is approved by the House. Now everyone is hoping that sooner the prices will get down in market for houses. But some House members are still strict about there decision of not buying bad debts. The liquid assets of financial assets are worthless and they are mostly derivatives.