The U.S. Senate is set to vote Wednesday night on a revised bailout of Wall Street, and there are high hopes on Capitol Hill that this sweetened version will not go down in flames.
Lawmakers added numerous provisions to the bill designed to attract skeptical House Republicans, including raising the FDIC insurance on individual bank accounts to $250,000, tax breaks that could save 20 million people an average $2,000 a year, an adjustment the alternative minimum tax, tax relief for disaster victims and initiatives to promote renewable energy.
But while many lawmakers are confident the bill will be palatable, the public isn't so sure.
Many people on the streets were angry, worried, skeptical -- or all three.
For David Stone it's a simple question, with a simple answer.
"Bail 'em out? No!" he said.
Stone says he suffers from systemic lupus, and lost everything when he was forced to go on disability.
"I lost my home, I lost my car -- I lost everything I worked for my entire life," he said.
Stone's point: the government did not help him out when times were tough.
"Nobody from the government came along and said to me, here let us help you out," he recalled.
Stone is not alone in his bitterness toward the government and its proposed $700 billion bailout.
"Actually I don't think they should bail out the fat cats on Wall Street at all. I think they should let them fall and learn how to be normal people," said Leah Stone, a Virginia resident.
Lisa Dominic, a Maryland resident, agrees.
"If I don't pay my bills on time, nobody's bailing me out," she said. "Nobody's bailing out your average citizen."
The bill would enable the government to spend billions of dollars to buy bad mortgage-related securities and other devalued assets held by troubled financial institutions. If successful, advocates say, that would allow frozen credit to begin flowing again and keep the economy from a deep recession. Proponents say the government eventually could sell the devalued assets at a better price, reducing the program's final cost.
Of the more than one dozen people interviewed by ABC 7/NewsChannel 8's Andrea McCarren, only one couple approved of the proposed rescue.
"We got ourselves into this mess by being overly materialistic, I think. Wanting things that we cant really afford," said Joan Schouten, a Wisconsin resident.
"And that means we're all going to have to pitch in and help each other out," added her husband, Stuart Schouten. "Get things flowing again."
Uncertainty about the fate of the bailout kept Wall Street about level Wednesday. The Dow Jones Industrial Average fell 20 points.
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