If Bailout passes, fight to change terms

October 02, 2008
Nobel Laureate Joseph Stiglitz: Bail Out Wall Street Now, Change Terms Later

The Senate has endorsed a revised version of the $700 billion Wall Street bailout plan. The legislation was easily approved last night on a 74-to-25 vote with a majority of Democrats and Republicans voting in favor—among them, presidential nominees Barack Obama and John McCain. Nobel Prize-winning economist Joseph Stiglitz says the measure, although flawed, should be supported now and revisited after the November elections.