by Calculated Risk on 9/30/2008 02:57:00 AM

From Bloomberg: Senate May Try to Revive Bank-Rescue Bill as Early as Tomorrow

The U.S. Senate will try to salvage a $700 billion financial-rescue package after the measure was defeated in the House of Representatives. ...

``They're not going to totally revamp the bill,'' said Pete Davis, president of Davis Capital Investment Ideas in Washington, who spoke to House and Senate leaders yesterday. ``They'll make some minor changes and pass it. This is all about political cover.''