House defeats $700B financial markets bailout

By JULIE HIRSCHFELD DAVIS, Associated Press Writer
2 minutes ago
CLICK HERE for Roll Call. See who voted Aye 205 and Nay 228.

WASHINGTON - The House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive into recession without it

Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. CLICK HERE.

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