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Rep. Frank: House bailout OK now more likely: report

WASHINGTON
Wed Oct 1, 2008 10:36pm EDT

WASHINGTON (Reuters) - The U.S. House of Representatives is now more likely to approve the $700 billion financial rescue package after the Senate passed the measure and as politicians realize inaction may be disastrous, a key House lawmaker said on Wednesday.

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"It's still uncertain. I think it is likelier to pass than before," House Financial Services Committee Chairman Barney Frank said in an interview on CNN.

"The main change is reality. I think that it's not possible now to scoff at the predictions of doom if we don't do anything," the Massachusetts Democrat added.

(Reporting by Mark Felsenthal; Editing by Tim Dobbyn)
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