Two days after the House of Representatives voted down the proposed financial bailout plan, the Senate will meet this evening to vote on a similar proposal. Similar, but not completely the same.
The bill now includes a new provision that proposes raising FDIC deposit insurance from $100,000 per account to $250,000 per account (all backstopped by the Treasury). The idea here is to quell consumer angst over bank failures, which can cause customers to flee. This kind of run-on-the-bank behavior eventually sealed the fate of Washington Mutual (NYSE: WM ) and Wachovia (NYSE: WB ) . Raising the insurance limits will affect all banks, from those hanging on by their fingernails like National City (NYSE: NCC ) , to powerhouse bargain-hunters like JPMorgan Chase (NYSE: JPM ) and Bank of America (NYSE: BAC ) .
Other than the new FDIC rule and a few other consensus-building piggybacks, the proposed bailout hasn't changed since it got a dramatic facelift over the weekend.
So, Fools, what do you think should happen tonight? Please take a moment to weigh in via our poll below, and throw in your two cents in the comment section if you feel so inclined.