$700 Billion bailout plan down in flames
Posted on
September 29, 2008 by
JP Smith
I just read that the proposed $700 billion bailout plan was defeated in the House by a vote of 228-205, with plenty of Democrats and Republicans on both sides voting against it even though leadership on both sides was imploring they support it.
In a related note, markets across the world were hammered upon hearing the news. At one point, the Dow dropped 705 points after the vote on the bailout failed.
Update: The market closed at 778 points down, becoming the worst fall in history.
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