The Senate has did something that the House of Representatives failed to do; the have passed the $700 billion economic bailout plan, leaving some people to believe that it could pass the House on Friday and end the legislative uncertainty that has rocked the markets into a see of red.

The vote was 74 to 25 in favour of the initiative to buy the troubled securities in an effort to avoid an economic catastrophe that would cause havoc with markets around the world. Out of the 25 who voted against, 15 came from the Republicans; and one Democrat senator didn’t vote.

As well, in a stark contrast to the House rejection of the plan, senators had showed no hesitation in backing a proposal that had seen the public criticising the bill.

As well, the passed bill also included billions in tax cuts and a metal health parity bill that calls on companies to offer health care to cover mental health, as they would do for other medical conditions.

Source: CNET, AP, New York Times