The House of Representatives voted on Monday to begin debate on legislation for the financial markets rescue plan, clearing the way for a final vote later in the day that would send the measure to the Senate. The plan would give the Treasury Department up to $700 billion in buying ...
09-29-2008, 09:26 AM
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| House begins debate on financial rescue plan The House of Representatives voted on Monday to begin debate on legislation for the financial markets rescue plan, clearing the way for a final vote later in the day that would send the measure to the Senate. The plan would give the Treasury Department up to $700 billion in buying power to acquire mortgage assets from troubled financial institutions. If the measure passes the House, it will be sent to the Senate for a vote and, if passed there, then go to President George W. Bush for his signature. (Reporting by Patrick Rucker; Editing by Chizu Nomiyama) source: Reuters - http://news.yahoo.com/s/nm/20080929/ts_nm/us_financial_bailout_rule [link] | ||||
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