Mortgage Meltdown: House Rejects $700 Billion Bailout

With a vote of 228-205 and more Republicans than Demcrats opposing the package, the bailout won’t occur…or at it didn’t occur this time, as a revote is scheduled.

For more, see http://www.nytimes.com/2008/09/30/business/30bailout.html?hp

Though homeowners are definitely in need of help, this may not be the silver lining that all had hoped for.

 

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