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September 30th, 2008

Senate makes risky move on bailout

Posted: 10:31 PM ET

WASHINGTON (CNN) - The Senate plans to vote on the $700 billion bank rescue plan Wednesday evening - two days after the House failed to pass it, leaders from both parties announced late Tuesday.

In a surprising and potentially risky move, the Senate is adding an enhanced version of the failed bill to an existing revenue bill that the House also rejected Monday.

The bailout plan has new provisions, including a hike to the FDIC insurance cap from $100,000 to $250,000.


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