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Phew. Not as close as it might have been, but the financial world came a step closer to getting its $700bn bung with Wednesday night's successful Senate vote. Edited by Jonathan Russell It wasn't only bankers who Senators gave a boost on Wednesday Photo: REUTERS One more vote tonight and we'll get to the fun bit of spending the moolah. So where will it go? Toxic debts and mouldy mortgages obviously, and if the American public is to be believed, into the Gucci-designed back pockets of investment bankers. But that's not where it stops – by no means. Diary understands that in the spirit of the Wild West, Senators agreed to insert a clause in the $700bn bill to lift a 39-cent excise duty on children's wooden arrows. Apparently nine arrow manufacturers across the US and, of course, millions of children, are set to benefit.... [read full story]
