USGovernment-News.Com Reports Bail-Out Package Fails at U.S. House of Representative
The lower house of U.S. Congress fails to vote for EESA - a ecomonic bail-out plan
(EMAILWIRE.COM, September 29, 2008 ) Washington DC - The bill required to bail-out U.S. financial institutions failed at the U. S. House of Representative. The plan was rejected by 228 to 205 votes. Sixty percent of Democrats and 33 percent of Republicans voted for the bill. The bill also known as Emergency Economic Stabilization Act of 2008 (EESA) fell short by 13 votes.
The EESA authorizes $700 billion dollars to The Secretary of the Treasury to buy bad mortgage assets from troubled financial institutions; these financial institutions will then have money to lend to businesses, so that businesses can run their operations. Failure to obtain this plan will be devastating to entire U.S. market. The stock market was already feeling the effect when the Dow tumbled 777 points at the close of the market.
For more news on the bail-out plan, go to http://usgovernment-news.com/us_house_of_representatives.php.
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The EESA authorizes $700 billion dollars to The Secretary of the Treasury to buy bad mortgage assets from troubled financial institutions; these financial institutions will then have money to lend to businesses, so that businesses can run their operations. Failure to obtain this plan will be devastating to entire U.S. market. The stock market was already feeling the effect when the Dow tumbled 777 points at the close of the market.
For more news on the bail-out plan, go to http://usgovernment-news.com/us_house_of_representatives.php.
About Usgovernment-News.Com
USGovernment-News.com provide breaking news on 2008 presidential elections, U.S. Congress, Senate, House or Representatives, the Democratic and Republican Parties, George W. Bush and the U.S. Military. The news site also carries streaming video on U.S. Politics, Democrats, Republicans, Barrack Obama and John McCain. Usgovernment-news.com carries government related press release feeds from EmailWire.Com.
About EmailWire.Com
Emailwire.com™ ( http://www.emailwire.com ) is a press release distribution service of GroupWeb Media LLC. Emailwire.com™ uses social networking, co-branding, viral marketing, XML, RSS, FTP feeds and E-mail alerts to distribute press releases to major and none major newswires, vertical and social network news websites, blogs, individual email boxes through opt-in distribution, and to journalists’ desktops in the format they choose. EmailWire.Com currently offers unlimited pres release distribution for $499 per year at http://www.emailwire.com/publications/unlimited_press_release_distribution.php .
About GroupWeb Media LLC
GroupWeb Media LLC ( www.groupweb.com ) is an online media company that specializes in press release distribution, newswire services, news aggregation and dissemination. GroupWeb Media LLC currently has 70 regional and 36 vertical portals that deliver news to targeted audiences.
GroupWeb Media Staff
Tel: 281-645-4086
www.groupweb.com
Press Release Keywords:
U.S. House of Representative EESA bail-out plan economy dow jones stock market
U.S. House of Representative EESA bail-out plan economy dow jones stock market
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