Subprime Lending

House Votes “Yes” to Historic Bailout 

The House of Representatives approved the $700 billion bailout plan by a 263 to 171 vote Friday. A revised version of the rescue bill passed a Senate vote late Wednesday evening, with 74 lawmakers approving the package in a roll call vote; 25 voted against. The new bailout package, however, wasn’t exactly changed from the bill shot down by the House vote Monday: it includes tax breaks for businesses and an increased limit on government-insured bank deposits to $250,000 from $100,000.