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The bailout has been tweaked, but does it have enough support to pass? Utah Sen. Bob Bennett said if it doesn't, another big bank soon could go down.
Over the weekend, Sen. Bennett said another major financial institution is in trouble, and it may go down if Congress does not act. On Saturday he told The Politico he didn't want to cause a run on the bank, so he wouldn't name it. A month ago, Sen. Charles Schumer warned that IndyMac was in trouble, and customers rushed to the bank to make withdrawals.
We don't know if Sen. Bennett was referring to Wachovia Corp. It was announced this morning that Wachovia is being acquired by Citigroup.
Sen. Bennett is on the Senate Banking Committee and says if Congress understands how dire the situation is, it will pass the bailout.
E-mail: mrichards@ksl.com
