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The Bailout Plan: 2 rounds done, one to go
Fri, Oct 3 2008, 10:46 GMT
by Marina Schiaffino
FXstreet.com International Traders Conference
ITC Barcelona 09 - Oct. 14-16 with Rob Booker, Valeria Bednarik, James Chen, Kim Cramer Larsson, Markus Heitkoetter, Ashraf Laidi and Andrei Pehar.
The US House has approved Bush’s $ 700 Billion Bailout Plan to save the
US financial market in the second attempt after some modifications,
including tax cuts, were introduced to it, in a improvised reaction to
revive it after it was rejected on Monday.
The plan has been
approved by 263 votes to 171, with Democrat representatives voting
massively for it while iin the republican side the “Nay” won over the
“Yea” by a narrow margin.
The Plan, mainly consisting in a $700
billion bailout to buy toxic mortgage-related securities from failing
financial institutions has arisen quite a deal of controversy among
citizens as well as among congressmen who were not convinced by the
idea of paying wall-street risk-takers wrongdoing with taxpayers money.
Official Links
- House of Representatives homepage
- Information up-to-the-second at House of Representatives' Floor Summary
In-Depth Analysis
- Forex News - USD: Political decisions in the limelight now by Erste Bank der oesterreichischen Sparkassen AG
Related News
- US House approves modified bailout plan (Thomson Financial News)
- US-Bank deal, bailout vote propel market gains (Thomson Financial News)
- Dollar on track for best week since 1992 (Thomson Financial New)
- Bailout bill clears procedural hurdle in US House (Thomson Financial News)
- U.S. HOUSE VOTES TO ALLOW DEBATE AND FINAL VOTE ON $700B WALL ST. BAILOUT BILL (Thomson Financial News)
- US HOUSE VOTE TOPS 218 MAJORITY NEEDED ON VOTE TO ALLOW BAILOUT DEBATE (Thomson Financial News)
- U.S. House begins procedural vote on bailout bill (Thomson Financial News)
- Index futures point to higher Wall Street open (Thomson Financial News)
- Dollar pauses after rally, eyes on bailout vote (Thomson Financial News)
Published on Fri, Oct 3 2008, 17:35 GMT
Archive
- The Fed creates commercial paper−buying facility
Published On Tue, Oct 7 2008, 14:15 GMT - Europe reacts to the global crisis
Published On Tue, Oct 7 2008, 09:11 GMT - Will there be a European Bailout plan?
Published On Mon, Oct 6 2008, 06:53 GMT - The US House approves the Financial Bailout plan
Published On Fri, Oct 3 2008, 17:35 GMT - The Bailout Plan: 2 rounds done, one to go
Published On Fri, Oct 3 2008, 10:46 GMT
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