Breaking: The House Defeats Bailout

I usually don’t cover events on a national scale, but I think this pretty important.  There’s a new survey question today as well.

From the Associated Press:

WASHINGTON – The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

Stocks plummeted on Wall Streeteven before the 228-205 vote to reject the bill was announced on the House floor.

[…] The fear in the financial markets send the Dow Jones industrials cascading down by as over 700 points at one juncture. As the vote was shown on TV, stocks plunged and investors fled to the safety of the credit markets, worrying that the financial system would keep sinking under the weight of failed mortgage debt.

 

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