The Economy Is âFâ ed Up
Posted by POLITICAL DUMMIES on September 29th, 2008 | Categorized as News
Democrats and Republicans on Capitol Hill immediately blamed each other for the failure of a $700 billion bailout package in the House on Monday.
House Minority Leader John Boehner, R-Ohio, said there would be no revote on the bill on Monday because members had left the Capitol.
It was unclear in what form the congressional leadership would bring the bill back to the House floor.
The stock market immediately dipped hundreds of points after it became apparent that the bill would fail. The Dow closed down 777 points at the end of trading Monday, a record plunge.
The package, which was backed by both the Democratic and Republican congressional leadership as well as President Bush, failed in the House by a vote of 228-205.
Nearly 60 percent of Democrats voted for the bill, while about a third of Republicans supported it.
Source: CNN
