All eyes on the US Congress
Now that the US Senate has passed the bailout bill, everyone affected by the current turmoil in US financial markets is waiting to see whether the House of Representatives will finally drop its objections and pass the legislation.
The US House of Representatives meets again tonight (Asia time) after a two-day Jewish new year holiday, and by all indications, it looks like the legislators are expected to salvage a modified version of the $700-billion US financial bailout bill that they rejected on Monday. Investors are counting on the bill to alleviate the US credit crisis, prevent a financial and economic meltdown, and stabilise Wall Street and other markets worldwide.ôCongress must act,ö according to US Preside…
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