From Deseret News archives:

Bush signs $700 billion rescue

Switch: Many in House change votes to pass plan

Published: Saturday, Oct. 4, 2008 12:53 a.m. MDT
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"I may lose this race over this vote, but that's OK with me," said Republican Rep. Sue Myrick of North Carolina, who switched her vote to favor the measure. "This is the right vote for the country."f+tf-t

The revised measure won Senate approval Wednesday night, 74-25, setting up a furious round of lobbying in the House as the administration, congressional leaders, the presidential candidates and outside groups joined forces behind the measure.

The maneuvers worked — augmented by a shift in public opinion that occurred after the stock market took its largest-ever one-day dive on Monday.

The plan — initially a three-page request from the Bush administration for unlimited power to use $700 billion any way it saw fit to stabilize markets — swelled to more than 450 pages as negotiators added restrictions for the administration and sweeteners for anxious members of Congress.

Lawmakers added greater supervision over the $700 billion — including a process where Congress could vote to block half the money — measures to protect taxpayers, and steps to crack down on "golden parachutes" for corporate executives whose companies benefit from the bailout.

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