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October 2nd, 2008

$700 billion plan moves back to House

Posted: 01:16 PM ET

NEW YORK (CNNMoney.com) - Now get ready for Bailout Redux – the House vote.

The fate of the Bush administration's planned $700 billion financial system bailout rests in the House, which sparked a huge selloff on Wall Street on Monday with its surprise 228 to 205 rejection of the bill.

Late Wednesday night, the Senate voted 74 to 25 to approve the controversial proposal, but added sweeteners intended to attract House votes. The House - returning Thursday from a two-day recess - is likely to vote on Friday.

–By CNNMoney.com's Jeanne Sahadi


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