Washington, DC (GrounReport) – According to emerging news reports, the US Senate has passed a revised $US700 billion financial bail-out bill. This brings the rescue plan one step closer to final passage.
Fairfax media reported early Thursday that "the vote was expected to send a positive signal to global markets that there may be some systemic relief to the crisis that has ensnared global banking, threatening the world’s economy."
Nonetheless, the final passage of the so-called US bailout plan, will need the backing of the US House of Representatives.
A House vote is expected as early as Friday.