China View: U.S. House Approves Historic Financial Bailout Plan

[Purveyor]

WASHINGTON, Oct. 3 (Xinhua) -- The U.S. House of Representatives on Friday approved a revised 700 billion dollars bailout plan, authorizing the government the largest financial intervention since the Great Depression.

The financial bailout package was passed by a vote of 263-171, a comfortable margin that was 58 more votes than the measure garnered in Monday's stunning defeat.



That vote sent markets plunging around the globe and forced the Bush Administration and congressional leadership to scramble and salvage the rescue plan. The Senate passed the new version Wednesday on a bipartisan vote of 74-25.

At the White House, President George W. Bush hailed the approval immediately, saying he will quickly sign the bill into law.

"A short time ago, the House of Representatives passed a bill that is essential to helping America's economy weather the financial crisis," Bush said.



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Xinhua: http://news.xinhuanet.com/english/2008-10/04/content_10146310.htm

[Selatius]

1. A picture of George Washington is above her head. I wonder what he would have done. nt

[EmeraldCityGrl]

3. great observation.n/t

[Eric J in MN]

2. Is Jim McDermott on the right in the second photo?

McDermott voted No today.