WASHINGTON (AP) - The first vote is set for today as the Senate
continues work on the financial overhaul package.
The Senate votes on a noncontroversial amendment that says
taxpayers wouldn't pick up the tab to bail out companies in dire
Despite that, some Republicans insist that bailouts remain a
possibility. They say taxpayers could still have to front the money
if the government moves to liquidate a big failing company like
insurance giant AIG.
Financial experts argue it would be irresponsible to preclude
the use of taxpayer money in the middle of a financial crisis.
Any possibility that the public will perceive the legislation as
a bailout of the industry has spooked lawmakers. The $700 billion
Troubled Asset Relief Program has been a political albatross.