Thread: House Rejects Bailout Package, 228-205; Stocks Plunge

House Rejects Bailout Package, 228-205; Stocks Plunge
By CARL HULSE and DAVID M. HERSZENHORN

WASHINGTON — In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.

The vote against the measure was 228 to 205. Supporters vowed to try to bring the rescue package up for consideration again as soon as possible.

Stock markets plunged sharply at midday as it appeared that the measure would go down to defeat.

House leaders pushing for the package kept the voting period open for some 40 minutes past the allotted time, trying to convert “noâ€

The House vote came after a weekend of tense negotiations produced a rescue plan that Congressional leaders said was greatly strengthened by new taxpayer safeguards.

Well, it would appear as if the so-called Congressional leaders forgot to consult with their subordinates.

PHEW!!! That was close!!!

I wonder how soon they will try again to shove this icky idea down our throats? How many times did they try the amnesty last year, in its several different versions? How long did they wait in between them?

Originally Posted by SeaTurtle

PHEW!!! That was close!!!

I wonder how soon they will try again to shove this icky idea down our throats? How many times did they try the amnesty last year, in its several different versions? How long did they wait in between them?

Twice in the Senate...within a few short days.

I lost alot of money today but the market will come back it always does. We wouldnt be in this mess if the Gov wouldnt have gotten involved with the bad loans in the first place. It needs to stay the heck out and stop lending our money to illegals. Im celebrating this defeat, freedom won the day.

Wasn’t President Bush R-TX, Senator Kennedy D-MA, Senator McCain R-AZ, Senator Obama D-IL, Speaker of the House Rep. Nancy Pelosi, D-CA, and Senate Majority Leader Sen. Harry Reid, D-NV the same Bunch that were behind Last Years Failed Blanket Amnesty for ILLEGALS and they want us to trust them NOW! In both cases it is Elitist Politicians SERVING thier Elitist Contributors on the backs of United States Citizens SOCAILIZING the benefits for their Special Interst Groups while PRIVATIZING the PROFITS for their same Special Interest Groups!!!!!!

"One, Representative Jim Marshall, a Georgia Democrat facing a re-election contest, told colleagues in a private meeting that he would vote for the measure to bolster the economy. “I am willing to give up my seat over this,â€