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.
“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