Bill Plan 2008

NEW YORK (CNNMoney.com) -- The fate of the governments $700 post-horseion financial bailout scheme - a far-reaching attempt to stem a growing scotch crisis - was thrown in doubt Mon daylight as the House rejected the controversial measure. The next steps were unclear. The abrupt defeat unexpended the Bush administration and congressional leaders scrambling to put the aviator up for another vote. A vote before Wednesday is actually unlikely. And stock markets reacted violently. Investors who had been counting on the rescue plan direct the Dow Jones industrial average down as much as 700 points while watching the measure come up short. The headstone stock reading was down nearly 600 points with about 15 minutes of trading left. The measure, which is designed to tick battered U.S. creed markets working normally again, needed 218 votes for passage. But it came up 13 votes short of that target, as the final vote was 228 to 205 against. About 60% of Democrats and fewer than 33% of Republicans voted for the measure. President Bush, who earlier in the day said he was confident the bill would pass, is very disappointed by the House vote. He said the administration would act up to attack the nations economic problems head on.

The Treasury Department, which result work with regulators and use all the tools at our disposal, as we view as over the last several months, to protect our financial markets and our economy, fit in to a Treasury spokeswoman. Paulson will be consulting with Bush, Bernanke and congressional leaders on the next steps, the spokeswoman said. Republican leaders who had pushed their reluctant members for the bill blamed Speaker Nancy Pelosi, D-Calif., saying that her speech during the floor confer drove away about a dozen Republicans they view they could get to support the measure. I do believe we could feed gotten there today if it had not been for this partisan speech the speaker gave on the floor of the House, said Boehner. Speaking to reporters,... If you want to get a full essay, order it on our website: Orderessay

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