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
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.
Fool contributor Morgan Housel doesn't own shares in any of the companies mentioned in this article. JPMorgan Chase and Bank of America are Motley Fool Income Investor recommendations. The Fool has a disclosure policy.