The House of Representatives have voted against the $700 Billion bailout bill.
Even with President Bush and Treasury Secretary Henry Paulson saying the situation is dire and the bill needs to be passed, it was rejected by a vote of 205 for the bill and 228 against. The majority of democrats voted YEA with the majority of Republicans voting NAY.
The White House quickly issued a statement saying George W. Bush was “very disappointed” that the bill did not pass.
The DOW Jones has dropped as a result of the bailout bill not passing and it is currently sitting down more than 580 points as of this posting.
Update:
Here’s a breakdown of the votes so you can see how Democrats and Republicans voted on this Bailout bill…
Democrats YEA – 140 Democrats NAY – 95
Republicans YEA – 65 Republicans NAY- 133
Total YEA – 205 Total NAY – 228
Watch the video:
Dow Jones Update:
The DOW Jones is currently down more than 710 points as of 2:30 PM CT
As mentioned in the comment below (Thanks) the DOW Jones ended yesterday down a record 777.68 points at 10365.45
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1 user responded in this post
The DOW ended the day down a record 777.68 at 10,365.45!!! That translated into a $1.2 trillion stock loss!!!
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