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Oct.03
1:46 PM ET
Friday, 3 Oct 2008
See What People Are Saying About... Rescue Package
Posted By:Lee Brodie
Topics:Politics & Government | Stock Market | Stock Picks
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The House approved a revised $700 billion financial rescue package, ending a weeklong battle over a controversial measure after lawmakers came under pressure to head off a growing financial crisis.
The plan, which was already approved by the Senate, would allow the government to spend billions of dollars to buy bad mortgage-related securities and other devalued assets from troubled financial institutions.
If it works, advocates say, that would allow frozen credit to begin flowing again and prevent a serious recession.
And that leads to our Fast Money Reader Poll. Now that the bailout has passed do you expect the economy to take a turn for the better?
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