The stock market rebound is largely because the federal government has a plan to hopefully stop the market meltdown. The plan to help turn around an ailing Wall Street is basically a "detox for banks."

The Bush Administration's plan would use federal money to buy up toxic assets, like bad mortgages, to help ailing banks and other financial institutions.

Pennsylvania's senior U.S. Senator is in town for a big Republican bash - what does Arlen Specter think of the bailout plan?

"There is no doubt about the seriousness of the problem," Specter said. "But before we bail anybody out, we have to be sure that it's in the public interest to do so."

Specter says he agreed with the government bailout of Bear Sterns earlier this year because there could have been a domino effect on Wall Street. But he says taxpayers should not suffer because of bad decisions by investment companies.

"If these Wall Street tycoons are looking for big bucks by taking big risks, and they lose money, they ought to take the losses themselves and not come to the taxpayers," he said.

Congress is promising quick action on the bailout plan, and many members say they will vote on it before recessing for the election.

A spokesman for Congressman Tim Holden says details on the plan should get to members of Congress this weekend.

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