From http://www.msnbc.msn.com/id/26884523/

UPDATED

BREAKING NEWS

updated 3 minutes ago

WASHINGTON - The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders 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.

.... Continued at link

http://finance.yahoo.com/q/bc?s=^DJI&t=1d&c=

Look at the dive the Dow took on the announcement though it has bounced back a little.

The general public, and Congress by proxy, won't support a bailout until it looks more favorable to the middle class.

Wowow.

That's horrible.

Ya, but does congress want to be voted out because they passed a horrible bill, or because average joe will figure out soon that they just got laid off because their employer can't get a good loan?

Big recession coming? Depression perhaps?

Unless they pass it on the next vote

Awesome news! I hope it's never passes. And no depression is coming, just a big recession.

The same recession that is going to happen regardless of if this bill passes or not.

ok, so, how are businesses going to make payroll. Who is going to loan out money? It does not seem that the banks are, in fact they are now going to be holding on to their money more then ever. So who's going to pay your payroll?

Why no depression? If more and more banks go down, how will people and businesses be able to sink even more into debt in order to keep the economies going?

Down 700!??!?! Damn...

Hopefully it will rebound.