NewsFlashUS House defeats $700bn bailout plan

29 September 2008 19:29  [Source: ICIS news]

WASHINGTON (ICIS news)--The $700bn (€476bn) US financial bailout plan failed to win the backing of the US House of Representatives on Monday, falling to defeat in a 228 to 205 vote.

 

The measure needed a simple majority of 218 votes to pass in the 435-member House but fell 13 votes short.

 

There may be an effort by House leaders to call for a reconsideration vote, but opposition to the measure appeared to be strong.

 

($1 = €0.68)

 

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By: Joe Kamalick
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