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2008-10-04 12:00:03

By Julie Hirschfeld Davis Associated Press WASHINGTON -- They held their noses and voted "yes." Now lawmakers in both parties -- along with President Bush -- are waiting to see whether their historic $700 billion bailout for the financial industry can stabilize the tottering economy and prevent a broader meltdown. "We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country," Bush said shortly after the plan cleared Congress,...

2008-10-04 09:00:08

By MARTIN CRUTSINGER By Martin Crutsinger and Charles Babington The Associated Press WASHINGTON It's signed and sealed. Now the $700 billion bailout must be delivered. It took 14 days, three votes and billions of dollars in stock market losses to get the massive financial rescue through Congress. The government is rushing to develop a plan for spending the money. Still, it will likely be at least a month before funds flow to financial institutions from the bill signed by...

2008-10-03 09:00:03

By and Julie Hirschfeld Davis Associated Press Desperate to avoid another market-crushing defeat, House leaders won key converts Thursday to the $700 billion financial industry bailout on the eve of today's second vote. But they didn't convince Rep. Jim Matheson, D-Utah. He indicated he dislikes the revised proposal more than the original one and will vote against it today in the House. However, despite his opposition, Matheson added he believes congressional leadership will ensure the...

2008-10-02 15:00:01

By DIANA MARRERO Washington -- The Senate on Wednesday night approved a financial rescue plan that is, at its core, similar to the one the House rejected this week. But congressional leaders were hopeful that the Senate's tweaks - - along with the public's growing concern about congressional inaction amid a faltering economy -- would help sway enough House members to ensure the plan's success. The 74-25 Senate vote on the $700 billion bailout turns the world's attention back to the...

2008-10-01 18:00:19

By John Canalis; Paul Eakins LONG BEACH - Congressional representatives from the Long Beach area split their three votes Monday in the shocking defeat of the financial bailout plan. The tally did not fall along party lines. Reps. Dana Rohrabacher, R-Huntington Beach, and Linda Sanchez, D- Lakewood, voted with the 228-205 majority to oppose the proposal. Rep. Laura Richardson, D-Long Beach, voted in favor of the package. Rohrabacher, whose district includes a sliver of coastal...

2008-09-30 09:00:24

Bush disappointed at rejection of bailout plan WASHINGTON, Sept. 29 (Xinhua) -- U.S. President George W. Bush said on Monday he was disappointed at the House's rejection of the 700 billion U.S. dollar bailout plan, vowing to "address this economic situation head on." "I'm disappointed in the vote by the United Sates Congress on the economic recovery plan," Bush told reporters at the White House. He met with Treasury Secretary Henry Paulson and other top advisers after the failure in the...

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2008-09-30 09:45:00

By Julie Hirschfeld Davis Associated Press WASHINGTON -- In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, leaving both parties' lawmakers and the Bush administration scrambling to pick up the pieces. Dismayed investors sent the Dow Jones industrials plunging 777 points, the most ever for a single day. "We need to put something back together that works," a grim- faced...

2008-09-30 09:00:11

By Carl Hulse and David M. Herszenhorn Reporting was contributed by Keith Bradsher from Hong Kong, Robert Pear from Washington and Graham Bowley from New York. * In a moment of historic drama in the U.S. Capitol and on Wall Street, the House of Representatives voted Monday to reject a $700 billion rescue of the financial industry. The vote against the measure was 228 to 205. With just five weeks to go before presidential and congressional elections, supporters vowed to try to bring...

2008-09-30 06:00:10

By Richard Wolf, Kathy Kiely, Fredreka Schouten and John Fritze WASHINGTON -- When President Bush came on television at 7:35 a.m. Monday to urge passage of a $700 billion Wall Street rescue plan, fellow Republicans working out in the House gymnasium jeered his remarks. Hours later, when House Speaker Nancy Pelosi, D-Calif., attacked Bush's "failed economic policies" on the House floor and credited Democrats for improving the proposal, Republicans got angrier. Bush's weak political...

2008-09-29 18:00:10

By Julie Hirschfeld Davis WASHINGTON - Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration. The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House for a vote today. The plan, bollixed up for days by election-year politics, would give the administration broad power to use billions upon...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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