Congress Approves $700B Bailout Legislation

Congress approves a massive plan to shore up the U.S. financial system, despite a stunning early defeat. The Senate passed the legislation on Wednesday evening, and the House passed the legislation on Friday afternoon.

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This Story A Two-Pronged Push To Aid Ailing Banks Article \| Two federal agencies moved yesterday to ease the financial pressure on banks even as Congress continued to debate the wisdom of a broader intervention. Bargain Hunters Set Stocks Soaring House Rejects Financial Rescue, Sending Stocks Plummeting Transcript: Bailout Bill: What's Next in Congress and on Wall Street Wednesday, Oct. 1 at 11 a.m. ET: Pearlstein: The Economic Crisis Vote Underscores Bush's Loss of Influence THE BACKLASH: For Many Americans, Fear and Distrust Run High Treasury, Fed Low on Rescue Options WORLD MARKETS: As Contagion Spreads, Moods Abruptly Shift BANKING CRISIS: Wachovia Is Sold As Depositors Flee A New Equation in Local Banking Pearlstein: They Just Don't Get It A Record Fall on Wall St. Economy Shows New Weak Spots Probe Into Fannie Mae, Freddie Mac Widens Young Chinese Rethink U.S.-Style Capitalism Congress Approves $700B Bailout Legislation Bush Implores Congress to Act to Rescue Markets Raw Video: House Defeats Financial Bailout Timeline: Crisis on Wall Street Dow Jones Industrial Average How the Bailout Vote Breaks Down by State New Banking Landscape Graphic: A World of Uncertainty Spreading Distrust This Story Lawmakers Revise Rescue Plan Article \| Prodded by a wave of angry calls from constituents, congressional leaders dialed back partisan bickering over the $700 billion Wall Street rescue plan yesterday and advanced modest changes to the legislation in an effort to win over House Republican holdouts. ANALYSIS: Rescue Package Not the Only Loser In House's Vote Those Up for Reelection Have Explaining to Do Congress Approves $700B Bailout Legislation Reaction: Bailout Bill Fails Bush Implores Congress to Act to Rescue Markets A Midwestern Republican Who Voted Against The Plan Is Blasted for 'Inaction' by Opponent Bush's Warnings of Danger Are No Longer as Powerful This Story With No Plan B, House Reluctantly Passes Politically Risky Measure Article \| Henry M. Paulson Jr. was in his corner office in the Treasury Department on Monday afternoon, too nervous to turn on his television, when his chief of staff poked his head into the Treasury secretary's office to tell him the stunning news playing out on Capitol Hill: The House had just defeated the... Fiscal Crisis Is Hitting Some States Hard Pelosi: Scrutiny, Accountability Next Congress Approves $700B Bailout Legislation Smart as a Whip GOP Strategists Whisper Fears Of Greater Losses in November This Story A Two-Pronged Push To Aid Ailing Banks Article \| Two federal agencies moved yesterday to ease the financial pressure on banks even as Congress continued to debate the wisdom of a broader intervention. Crisis Felt Unevenly on Main Street Bargain Hunters Set Stocks Soaring Mutual Distrust Freezes Lending Among Banks Financial Hubs See an Opening Up at the Top Global Bankers Anxiously Watch U.S. Fannie and Freddie Break Up Their Powerhouse Lobbying Operations Congress Approves $700B Bailout Legislation Bush Implores Congress to Act to Rescue Markets Wednesday, Oct. 1 at 11 a.m. ET: Pearlstein: The Economic Crisis Spreading Distrust This Story Bush Enacts Historic Financial Rescue Article \| With evidence mounting that the nation faces a sharp economic downturn, Congress yesterday gave final approval to what may be the biggest government bailout in American history, authorizing the Bush administration to spend $700 billion to try to thaw frozen credit markets and prevent a deep... Rescue Sweetened With Tax Incentives Paulson Moves On to Nuts and Bolts of Rescue Making Money From a Meltdown New Law Seeks to Limit Executive Compensation Job Cuts Continue For Ninth Month Congress Approves $700B Bailout Legislation House Roll Call on Bailout Bill: 263-171 House Passes Bailout Bill Bailout Bill How the House Vote Shifted What Wells Fargo-Wachovia Would Look Like		TOOLBOX E-Mail This Save/Share + Digg Facebook Reddit Twitter myspace del.icio.us NewsTrust Stumble It! COMMENT 0 Comments Your browser's settings may be preventing you from commenting on and viewing comments about this item. See instructions for fixing the problem. Discussion Policy CLOSE Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post. Who's Blogging » Links to this gallery		Related Lawmakers Urge Action on Bailout Photos \| 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. Wall Street in Turmoil Photos \| Global stocks have experienced wild fluctuations this week in the wake of the U.S. government's seizure of insurance giant American International Group, the failure of Lehman Brothers, the disappearance of Merrill Lynch as an independent company and reports the U.S. government will set up a government entity to take on bad debts from financial institutions.
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This Story A Two-Pronged Push To Aid Ailing Banks Article \| Two federal agencies moved yesterday to ease the financial pressure on banks even as Congress continued to debate the wisdom of a broader intervention. Bargain Hunters Set Stocks Soaring House Rejects Financial Rescue, Sending Stocks Plummeting Transcript: Bailout Bill: What's Next in Congress and on Wall Street Wednesday, Oct. 1 at 11 a.m. ET: Pearlstein: The Economic Crisis Vote Underscores Bush's Loss of Influence THE BACKLASH: For Many Americans, Fear and Distrust Run High Treasury, Fed Low on Rescue Options WORLD MARKETS: As Contagion Spreads, Moods Abruptly Shift BANKING CRISIS: Wachovia Is Sold As Depositors Flee A New Equation in Local Banking Pearlstein: They Just Don't Get It A Record Fall on Wall St. Economy Shows New Weak Spots Probe Into Fannie Mae, Freddie Mac Widens Young Chinese Rethink U.S.-Style Capitalism Congress Approves $700B Bailout Legislation Bush Implores Congress to Act to Rescue Markets Raw Video: House Defeats Financial Bailout Timeline: Crisis on Wall Street Dow Jones Industrial Average How the Bailout Vote Breaks Down by State New Banking Landscape Graphic: A World of Uncertainty Spreading Distrust This Story Lawmakers Revise Rescue Plan Article \| Prodded by a wave of angry calls from constituents, congressional leaders dialed back partisan bickering over the $700 billion Wall Street rescue plan yesterday and advanced modest changes to the legislation in an effort to win over House Republican holdouts. ANALYSIS: Rescue Package Not the Only Loser In House's Vote Those Up for Reelection Have Explaining to Do Congress Approves $700B Bailout Legislation Reaction: Bailout Bill Fails Bush Implores Congress to Act to Rescue Markets A Midwestern Republican Who Voted Against The Plan Is Blasted for 'Inaction' by Opponent Bush's Warnings of Danger Are No Longer as Powerful This Story With No Plan B, House Reluctantly Passes Politically Risky Measure Article \| Henry M. Paulson Jr. was in his corner office in the Treasury Department on Monday afternoon, too nervous to turn on his television, when his chief of staff poked his head into the Treasury secretary's office to tell him the stunning news playing out on Capitol Hill: The House had just defeated the... Fiscal Crisis Is Hitting Some States Hard Pelosi: Scrutiny, Accountability Next Congress Approves $700B Bailout Legislation Smart as a Whip GOP Strategists Whisper Fears Of Greater Losses in November This Story A Two-Pronged Push To Aid Ailing Banks Article \| Two federal agencies moved yesterday to ease the financial pressure on banks even as Congress continued to debate the wisdom of a broader intervention. Crisis Felt Unevenly on Main Street Bargain Hunters Set Stocks Soaring Mutual Distrust Freezes Lending Among Banks Financial Hubs See an Opening Up at the Top Global Bankers Anxiously Watch U.S. Fannie and Freddie Break Up Their Powerhouse Lobbying Operations Congress Approves $700B Bailout Legislation Bush Implores Congress to Act to Rescue Markets Wednesday, Oct. 1 at 11 a.m. ET: Pearlstein: The Economic Crisis Spreading Distrust This Story Bush Enacts Historic Financial Rescue Article \| With evidence mounting that the nation faces a sharp economic downturn, Congress yesterday gave final approval to what may be the biggest government bailout in American history, authorizing the Bush administration to spend $700 billion to try to thaw frozen credit markets and prevent a deep... Rescue Sweetened With Tax Incentives Paulson Moves On to Nuts and Bolts of Rescue Making Money From a Meltdown New Law Seeks to Limit Executive Compensation Job Cuts Continue For Ninth Month Congress Approves $700B Bailout Legislation House Roll Call on Bailout Bill: 263-171 House Passes Bailout Bill Bailout Bill How the House Vote Shifted What Wells Fargo-Wachovia Would Look Like		TOOLBOX E-Mail This Save/Share + Digg Facebook Reddit Twitter myspace del.icio.us NewsTrust Stumble It! COMMENT 0 Comments Your browser's settings may be preventing you from commenting on and viewing comments about this item. See instructions for fixing the problem. Discussion Policy CLOSE Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post. Who's Blogging » Links to this gallery		Related Lawmakers Urge Action on Bailout Photos \| 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. Wall Street in Turmoil Photos \| Global stocks have experienced wild fluctuations this week in the wake of the U.S. government's seizure of insurance giant American International Group, the failure of Lehman Brothers, the disappearance of Merrill Lynch as an independent company and reports the U.S. government will set up a government entity to take on bad debts from financial institutions.
» This Story:Read +\|Watch +\|Talk +\| Comments » This Story:Read +\|Watch +\| Comments » This Story:Read +\|Watch +\| Comments » This Story:Read +\|Watch +\|Talk +\| Comments » This Story:Read +\|Watch +\| Comments