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A feeling thermometer for TARP

From NBC's Mike Viqueira

As a purely academic exercise, you might want to watch the House floor now as they vote on whether to disapprove the allocation of the second $350 billion of the TARP. The vote is essentially a freebie, in that no matter what the outcome the administration is getting that money. So watch and see how badly the deeply unpopular TARP gets crushed here this afternoon.

Because of the way the original legislation was written, the recent vote by the Senate to free up the funds was, for all practical purposes, the end of the story.

But the language also requires a vote on the House floor if someone calls for it. Rep. Virginia Foxx did so, so now they are voting. A "yea" vote is a vote against allocating the second $350 billion.

It's safe to say that if the Senate hadn't allowed the money to go through and it became up to the House, the administration would not have gotten it.