Monday, September 29, 2008

financial 'bailout' deal fails 228-205

financial 'bailout' deal fails 228-205from thinkprogress: The Congress has just voted down the proposed bipartisan bailout package. The vote failed in part because the Republican leadership failed to deliver the 70-100 votes needed from the conservative side. Before the vote, House Minority Leader John Boehner (R-OH) implored his GOP colleagues to vote in favor of the negotiated bailout proposal, almost breaking down into tears... When asked what might happen if the $700 billion dollar rescue plan failed to pass, billionaire investor Warren Buffett said today, “Heaven help us.” The Dow Jones Industrial Average “dropped more than 700 points as ‘no’ votes mounted,” later stabilizing around 500 points.

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