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The Bush administration is stepping up private pressure on Congress to accomplish what its public appeals could not: passage of a $700 billion bank rescue.
Treasury Secretary Henry Paulson spent the past day and a half on the phones and face-to-face with lawmakers and lobbyists, trying to change minds after the House of Representatives rejected the plan.
"Bipartisanship is a tough thing; never more so when you're trying to take necessary but publicly unpopular action. But inaction is not an option."
Originally posted by Karlhungis
reply to post by Mercenary2007
I believe the 700 billion was just some number they came up with because it sounds really big. No real significance to it, especially since it only limits how much can be out at one time. So, it is a blank check in reality.