US Senate passes $700bn bailout Bill

The fate of the $700bn (£380bn) bailout package for US banks is hanging in
the balance again after senators voted in favour of the move last night.

If the Emergency Economic Stabilization Act is passed, it could see mark-to
market accounting suspended in the US.

The ultimate decision now lies in the hands of the House of Representatives,
who shot down the bill when it was first submitted earlier this week.

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