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Update DOW 777 down, Bail-out NO, next vote Oct-6, banks, payments to fail, cash panic
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by SOLARLIFE | September 29, 2008 at 09:51 am
791 views | 22 Recommendations | 14 comments
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Update DOW 600 down, H. of Representatives votes against Bail-out, banks, payments to fail, cash panic
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22:30 UK time: Developing Story
DOW 777 POINT DOWN, worst in history, capital hill shut down for jewish holiday. Next vote House of Representatives latest monday OCT-6, earliest OCT-3, remake Bailout : OCT-2
Bailout fails in U.S. House as Charlie Dent, Scott Garrett vote against the bill. Pelosi's speech to blame for the NO, many say. Pelosi saying, wants to protect Middle Class.
The U.S. House of Representatives this afternoon rejected a $700 billion Wall Street bailout. U.S. Reps. Charlie Dent, R-Lehigh Valley, and Scott Garrett, R-Warren, voted against the rescue plan, which was aimed at turning around the country's financial crisis.
The Hunterdon County lawmakers, U.S. Reps. Rush Holt, a Democrat, and Mike Ferguson, a Republican, both voted for the measure.Republicans voted two to one against the bill, while 94 Democrats voted no. On Wall Street, stocks plummeted as investors followed the developments in Congress. Stocks went down about 700 points, but recovered to about 500 points down by 2:05 p.m.
EUROPE viewpoint
VIDEOPAGE
The vote followed a day of turmoil in the financial sector.Wachovia, the fourth-largest US bank, was bought by larger rival Citigroup in a rescue deal backed by US authorities
Benelux banking giant Fortis was partially nationalised by the Dutch, Belgian and Luxembourg governments to ensure its survival
The UK government announced it was nationalising the Bradford & Bingley bank
Global shares fell sharply - France's key index lost 5%, Germany's main market dropped 4% while US shares also lost ground
Negotiations are continuing after the majority of the House of Representatives voted against the $700bn bail-out plan for the US economy, Bush disappointed? FEARS OF GREAT DEPRESSION, payment bank systems may fail, panic to come at the Frontdoor of Banks, people heading home with cash, no confidence.
behind the scene discussions people, want to change the vote.
If all agree, they could vote again; reconsider votes
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205 YES VOTES - 228 NO VOTES >>>> no bailout !!!
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94 Democrats voted NO
MANY REPUBLICANS VOTED NO
Markets, Wallstreet down
source: sky-TV
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SOLARLIFE
FRENCH RIVIERA MONACO LONDON, France
Most RecentMost Recommended Comments (14)
at 10:35 on September 29th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 10:46 on September 29th, 2008
Politsite thanks "Bail-out NO", Obama just saying from Colorado, congress must get deal done
at 10:55 on September 29th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 10:58 on September 29th, 2008
Paschen, BAILOUT NO", UK says: congress has to work together, to go ahead with banking laws first
at 10:55 on September 29th, 2008
You may want to link to Zichi and Rob their post that have been out first.
at 11:50 on September 29th, 2008
Wrong, Paschen, Solarlife the economist has expensive SAT channels, I was First complete article stamped 1/51, 20 minutes earlier than zichi. Bad style, I go for dinner.
at 11:01 on September 29th, 2008
Thanks to all the members who are keeping on top of this important story.
Great work!!
Since we have so many stories on this breaking news story we have decided to link them all in one single page Wall Street Bailout Vote Fails
When you update your story, or add a new one, be sure to add a comment here or send Rob or Tina a message so that we can be sure your work is included
Please alert us if your article should be included. Or, re-tag your article to include "bailouts" (plural) so it will appear on the Bailouts Feature Channel.
Here is a list of the articles currently included in the bailout defeated coverage.
Update DOW 600 down, H. of Representatives votes against Bail-out, banks, payments to fail, cash panic
$700 Billion Bailout Bill is Defeated
There is so much great coverage on the site right now, and linking to each article from
one page seems to be the most democratic way to showcase the member stories.
This is a deviation from our normal way of handling multiple stories, but since this is such an important news event we feel it is in the best interest of all members, and Now Public readers, to have all the coverage in one place.
There is also some relevant content on our Bailouts page:
Global Banking Bailouts
To have your content automatically added to this page, please tag it "bailouts" (plural)
The Bailouts Scan is also an interesting source of information, as it shows a real-time feed of what people across the Internet are saying about the bailout situation. Visit the Bailouts Scan to see the live feed for yourself.
Thanks! If you have any comments or feedback, please feel free to contact me directly through my member profile: Tina Kells
at 11:54 on September 29th, 2008
zichi thanks for flag, this time Lord Solar was 20 Min ahead of You, You agree the Bottle of Bollinger champaign to deliver immeadiate is up to Zichi
at 12:01 on September 29th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 12:14 on September 29th, 2008
Emilio, thanks for Flag "Bail-out NO", obviously you brought away the money, Wall street is searching, 21:13 UKtime DOW: 10 394; EURO:Dollar 1:44
at 12:21 on September 29th, 2008
Wouldn't worry too about the stock market. It always goes up and down. Worry when no sales or buys at all are made.
at 12:28 on September 29th, 2008
Rene, you voted againt Bail-out, how are you feeling now; I think anyway we are all concerned, your secret message "Worry when no sales or buys at all are made."
at 15:03 on September 29th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 15:12 on September 29th, 2008
Thanks rahul for flag "Dow 777 down, bail-out no, congress goes 1 week in jewesh holidays", what a country