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Article: Lending remains tight as clock ticks on bailout
- Article from:
- AP Worldstream
- Article date:
- October 2, 2008
- Author:
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NEW YORK _ The credit markets remained choked late Wednesday, keeping key lending rates and demand for Treasurys at lofty levels after the Senate passed the U.S. financial rescue plan.
There was no discernible change in the markets after the Senate approved the plan Wednesday night and sent it on to the House, which defeated an earlier version of the propsal on Monday. President George W. Bush and congressional leaders on Wednesday expressed optimism that the $700 billion bill to take risky mortgage-backed assets off banks' books would pass, after the addition of a provision that would boost insurance for people's deposits.
But investors were not expected to cheer even if ...