Ovide603 Wrote:
Oct 12, 2012 7:42 PM
The Democrat-controlled House defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and congressional leaders from both sides of the aisle to quickly bail out the staggering financial industry. Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. George Bush went on to tell the nation, "We need $700 billion to re-capitalize the American financial system." This government capitalization was unwound in 2009 after Obama was president.