House Rejects Bailout Despite Pressure

By  Lagan Sebert on Sep 29, 2008

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The $700 billion bailout plan came to a vote in the House of Representatives after a week of intense debate. Though both Democratic and Republican leadership called on their colleagues to support the bill, it failed by 23 votes. The debate gave those in opposition a chance to voice their opposition to this historic bill, and called for renewed negotiations on the same day the stock market plunged.

Keywords: bailout, Barney Frank, Financial Crisis, George Bush, House, House of Representatives, Merrill Lynch, mortgage crisis, Wall Street