Bailout Bill Rejected in House; Stocks Suffer Record Fall

By: Associated Press
By: Associated Press

WASHINGTON -- In a stunning vote that's sent shockwaves throughout markets worldwide, the House has defeated a $700-billion emergency rescue for the nation's financial system.

Most Democrats voted for it, but most Republicans voted against it. Lawmakers who voted no ignored urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without the plan. Responding, the Dow Jones industrials plunged 777 points, the most ever for a single day.

Democratic and Republican leaders alike are pledging to try again. And President Bush is huddling with his economic advisers about a next step. The House will reconvene Thursday instead of adjourning for the year as planned.

Today's 777-point decline surpasses the 684-point drop on the first day of trading after the 9/11 terror attacks.

Here's how your representative voted on the bailout bill.

Three Brazos Valley Congressmen opposed the bill.

U.S. Representative, District 31 John Carter, U.S. Representative, District 10 Michael McCaul and U.S. Representative, District 6 Joe Barton all voted against the bill.

U.S. Representative, District 17 Chet Edwards and U.S. Representative, District 8 Kevin Brady voted in favor of the bill.


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