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Bailout Passes

By Matthew Yglesias on October 1, 2008 at 9:42 pm

"Bailout Passes"

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The Senate approves the deal heartily. The “sweeteners” used to (a) bolster support in the Senate, and (b) give House members a pretext for changing their mind are, as is the nature of these things, something of a mixed bag. Raising the FDIC cap is a no-brainer and really should be done even if there were no bank panic as the $100,000 figure hasn’t been adjusted for inflation in a long time. Indeed, they should probably index it to inflation.

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