October 4th, 2008
The House of Congress backs $700billion bail-out plan !
The US House of Representatives has passed a $700bn (£394bn) government plan to rescue the US financial sector.
The 263-171 vote was the second in a week, following its shock rejection of an earlier version on Monday.
The package is aimed at buying up the bad debts of failing financial institutions on Wall Street.
US President George W Bush praised lawmakers for their “spirit of co-operation” before signing the bill into law later on Friday.
The House adopted the new version after the Senate added about $100bn in new tax breaks to win Republican votes.
FULL STORY HERE; http://news.bbc.co.uk/1/hi/business/7651060.stm
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