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The Texas Blue
Advancing Progressive Ideas

Financial Rescue Bill On Life Support

Democratic and Republican leaders came together this morning to try and breathe new life into the financial market rescue bill that was voted down on the House floor yesterday.

The latter link is an interesting read, pointing to the unusual coalition of congressmen that united to vote down the bill, against the urging of both party's leaderships.

The stock market dropped 777 points yesterday in reaction to the bill's failure, the largest one-day point drop in history. 500 points of that drop came within minutes of the news of the bill's failure. International markets also reeled in response to both the bill's failure and the Dow's subsequent drop.

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