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.
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