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Corker: Senate Will Pass Bill Tonight

Senate banking committee member Bob Corker (R-Tenn), on CNBC moments ago, expressed confidence that the Senate would pass the $700 billion financial rescue bill tonight. "I would be stunned" if the bill didn't pass, Corker said, adding that he has talked to many lawmakers who support the legislation but hopes that "other things won't be added on."

He said yesterday's moves by the FDIC to increase deposit insurance and the SEC's guidance on "mark to market" assets has boosted confidence that the administration is doing what it can to restore stability to the market. "We're on our way to passing this bill," he said.



--Sara Goo

By Sara Goo  |  October 1, 2008; 8:54 AM ET
Categories:  The Ticker  
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Comments

If anyone is interested in learning more about the mark to market accounting rule, check this out: http://www.greenfaucet.com/market-neutral-mark-to-market-accounting-rule-explained/06938
Pretty good explanation of the rule, what it caused, and how the 'bailout' could change things.

Posted by: Jeff | October 1, 1908 9:35 AM | Report abuse

They always respond, they always say yes, if the business is good. There's always that if. If business is bad, they say no.

Posted by: JD in PA | October 1, 1908 9:57 AM | Report abuse

WHAT ARE THE INVESTOR NOTE HOLDERS DOING, WHAT PART ARE THEY TAKING IN ALL THIS, BEFORE THE GOV. ACTS ON STABLIZING.
ARE THEY GOING TO REDUCE OR MAKE CUTS ON THE SOUR BAD DEBT BEFORE THEY ARE BOUGHT IN BY GOV..
WHAT ARE THEY DOING WITH ALL THE LIVE FORECLOSURES...WHY ISN'T ANYTHING DONE ON THIS..EVERYBODY IS STALLING,,
THERE NEEDS TO BE SHOW OF SINCERE REGRET FROM THE INVESTOR NOTE HOLDERS..LIKE HOLDING OFF FCL SALES & CUTTING DOWN WHAT IT COSTS, BECAZ IT HAS COST US ALOT NOW & MAJOR GREIVANCE MADE ON THE HOMEOWNERS & NOW THE ENTIRE SYSTEM IN WHICH WE LIVE BY.
IT WAS FIRST PUT ON THE HOMEOWNER THAT THEY WHERE THE ONES THAT WERE WRONGLY LOOKED AT FOR THIS MESS..NOW THAT EVERYTHING IS ON THE TABLE ITS REVERSED NOW, WE NEED A TRUE VINDICATION OF MAKING ALL THE MORTAGE PAYMENTS AFFORDABLE AS TO COMPARED AT RENT LEVEL, OR EVEN LOWER FOR ALL THE GREIVANCES, & THE FUTURE CONSUMER.
A TRUE WALK IN PROGRAM, NOT WALK AWAY.. REMEBER THAT & ALL THE ABANDON HOMES WITH ANIMALS REMEMBER THAT..

WHAT ARE INVESTOR NOTE HOLDER DOING, THE GOV. SHOULDN'T HAVE ALL THIS PRESSURE BUT HAVE INTEGRAL HELP. THIS ISN'T A ONE MAN SHOW.


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Posted by: Sutton | October 1, 1908 3:26 PM | Report abuse

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