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Lawmakers Urge Action on Bailout

Economic policymakers work to stabilize global financial markets and say Congress must act quickly on a proposed bailout plan to avoid dire consequences for the U.S. economy.

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Despite Pressure, House GOP Hesitant on Financial Rescue Plan
Article | House Republicans remained reluctant to approve legislation that would provide a $700 billion bailout for the financial securities industry after a more than 80-minute sales pitch this morning from Vice President Cheney and President Bush's chief of staff, Joshua Bolten.
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Alternative Solutions Diverge From Administration's Approach
Article | To hear Henry M. Paulson Jr. and Ben S. Bernanke tell it, there is only one plan to save the economy -- use $700 billion in taxpayer money to take the worst of Wall Street's assets off its books.
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Bush Calls Bailout Vital to Economy, Will Meet With McCain and Obama
Article | President Bush said yesterday that the credit crisis that has seized world markets could devastate the U.S. economy unless Congress acts quickly to approve a $700 billion bailout plan for the nation's financial system, a message aimed at reluctant lawmakers as much as a deeply skeptical public.
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Obama, Capitol Hill Leaders Speak as One on Crisis
Article | Last Thursday, as the Bush administration opened talks with Congress on a $700 billion Wall Street rescue plan, Senate Democrats gathered for lunch in the Capitol to hear former Treasury secretary Lawrence H. Summers urge them to hold firm in their push for more economic stimulus but to move quickly...
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House Rejects Financial Rescue, Sending Stocks Plummeting
Article | A bipartisan rebellion in the House killed a $700 billion rescue plan for the nation's financial system yesterday, sending global stock prices plunging, prompting fierce recriminations on the presidential campaign trail and dealing President Bush his worst legislative defeat.
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Bernanke Warns Of 'Grave Threat' To U.S. Economy
Article | Key supports that have bolstered the U.S. economy through the housing collapse and financial crisis appear to be weakening, making it all the more urgent that Congress quickly approve a Bush administration proposal intended to keep the crisis from spreading, Federal Reserve Chairman Ben S. Bernan...
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Sweeping Bailout Bill Unveiled
Article | After a week of political tumult and deepening economic anxiety, congressional leaders yesterday rallied support for an historic proposal that would grant the government vast new powers over Wall Street and offer fresh help to homeowners at risk of foreclosure.

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