Bailout vote: rejected by Congress

Sep 29, 2008 | Comments 1

President Bush made the statement on the bailout plan details, and the House of Representatives have voted against the government $700 billion bailout to rescue the US economy.

News of the bailout plan being rejected sent the Dow Jones plunging with an immediate crash of 6 percent. An extra $630 billion was pumped into the money markets by central banks today to regain confidence in the financial system as speculation and concerns grew over the US bailout plans.

The UK’s top 100 companies’ index closed down as the lowest it’s been since April 2005, down 5.3 percent at 4818.9.

Source: Skynews

Filed Under: Business News

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  • Danny Watson

    Who and how many will be going to jail for this? Or can the political lawyers justify this also? The guys responsible for this are worse that the terrorist that flew the jets into the world trade center in 2001. I’m as patriotic to America as a person can be, but this new country we have made america into is not what I think the American flag should fly over. My only hope is that the ones who has put this great country into this condition will some how pay the consequences and not in a plush federal prison.