The House is debating and expected to vote soon on a 110-page bill that would give Treasury Secretary Henry Paulson authority to wade into the mortgage and securities markets with $700 billion. And it only took 10 days to get to this point.
If the House passes it, the Senate is expected to take it up on Wednesday, or perhaps sooner. (Rosh Hashanah means Tuesday’s quiet.) President Bush has promised to sign it.
There could still be drama in store, however: conservative Republicans remain opposed to the measure, and while the bill’s supporters are optimistic, it’s still not certain it will garner enough Republican votes in the House for a truly bipartisan appearance — some the Democrats desperately want. See the full story on BusinessWeek.com of what remains in the bill, and what ended up on the cutting room floor, after the weekend’s financial-crisis maneuvering.