Filed under: Policy
Speaker of the House Nancy Pelosi said Thursday that she would not bring the banking rescue bill to a vote on Friday unless and until passage is certain.
House leadership is unwilling to risk another failure, which might send financial markets into another sharp spin. U.S. stocks dropped for a second straight day on Thursday, by 1.2%, on uncertainty that the House will approve the Senate’s revised bill. Over and above the potential $700 billion price, tax credit extenders added to sweeten the deal are worth $110 to $200 billion, depending on whose calculations you read.
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