From Deseret News archives:
Senate OKs $700 billion bailout
Rescue: But $110 billion in new tax breaks tacked on
A strong bipartisan majority rallied behind the controversial Wall Street bailout package, passing it by 74-25. Utah Sens. Orrin Hatch and Bob Bennett both voted for the legislation.
In the House, leaders were working feverishly to convert enough opponents of the bill to push it through by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plunging around the globe.
The measure didn't cause the same uproar in the Senate, where both parties' presidential candidates, Republican John McCain and Democrat Barack Obama, made rare appearances to cast "aye" votes.
In the final vote, 39 Democrats, 34 Republicans and independent Sen. Joe Lieberman of Connecticut voted "yes." Nine Democrats, 15 Republicans and independent Sen. Bernie Sanders of Vermont voted "no."
President Bush issued a statement praising the Senate's move. With the revisions, Bush said, "I believe members of both parties in the House can support this legislation. The American people expect and our economy demands that the House pass this good bill this week and send it to my desk."
Hatch, who had been critical of earlier versions, praised the rewritten bill that passed. "This act is designed to help families. This law will help workers hang on to their retirement savings, help small-business owners make payroll and help restore the American people's confidence in their own financial well-being."
Bennett, who had been one of the chief negotiators on the relief package, said, "This financial rescue package will not solve our financial crisis entirely, but it will help stabilize the economy and restore confidence in the market so our American businesses will not be paralyzed by a credit freeze."
Bennett added, "Tonight we came together in a bipartisan manner and made the right decision for the country. After the drastic decline in the stock market earlier this week, many have finally realized the gravity of this financial crisis and the effect it has on ordinary Americans in our communities."
Recent comments
What if the stock continues to fall and our Economy conintues to...
? | Oct. 8, 2008 at 3:17 p.m.
Really!? I thought everyone in the whole world was LDS!? I wasn't...
re: re: re; John Mulholland | Oct. 2, 2008 at 9:42 p.m.
I realize that the government stepped in and took over Fannie and...
RE: RE: Hypocrisy | Oct. 2, 2008 at 9:27 p.m.
- Jazz Extra: Coming attractions 5:34 p.m.
- Jazz fans can be thankful for. . . 5:27 p.m.
- BCS at-large bids up for grabs 4:15 p.m.
- NFL to work with neurologists 4:02 p.m.
- Exhibit serves Old Masters revisions 3:21 p.m.
- Relationship: Thanksgiving 3:18 p.m.
- Palliative medicine draws doctors 3:18 p.m.
- Why do we hate? Academics ask 3:18 p.m.
- 50-plus crowd loves Web dating 3:18 p.m.
- Cheat Sheet: Shoveling snow 3:18 p.m.
- Glenn Beck to enter politics?
- BYU records with win
- Jazz outlast Pistons in overtime
- Cougars turn focus to dreaded rivals
- Cougars put the fun back in football
- Police link alcohol to murder
- Kirilenko heating up for the Jazz
- Former BYU professor remembered
- Utah Utes whip SDSU
- Wendover airfield's legacy lost?
- Buttars wants to limit gay rights laws
200 - Palin plans tour stop in Utah
178 - Glenn Beck to enter politics?
177 - BYU records with win
127 - Palin's book shows she's unqualified
125 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
100 - Jazz finally win in San Antonio
98 - Utes knock off rival Aggies
93 - Huntsman pleased with Obama
87
I don't pretend to be an expert on global warming. I've met with...
I'll be there when you do IT!!! You are the MAN!
Timpview.. WOW!! You made your classmates so proud to be there and cheer you...
He will melt like a snowman on 11/28. Three total picks, (two six picks)....
Utah by 14. Go UTES!!!
To those who say Glenn will take us back to the America our grandfathers knew...
BYU is yet to prove they are better than Utah. We will see on 11/28 when BYU...
IT IS GOING TO BE A HARD FOUGHT GAME!!!!!! MOST OFTEN IT IS WITHIN 3 POINTS...
I remember my father Kevin Matthews telling of your ordeal that occurred in...
The comment about girls wanting to be good athletes means they have to be...
Lets give props to Coach Clark [O cordeniater]. He led the O to be 15th in...


