The House has defeated a 700 billion-dollar emergency rescue package for the financial markets.

Early this afternoon we should know if the Bush Administration’s 700 billion dollar financial bailout has passed it’s first hurdle.

After a weekend of working out the details, Congress now has a deal on the Wall Street Bailout plan. You can read the full proposal from this link.

After days of negotiations over the massive 700-billion-dollar Wall Street bailout, Treasury Secretary Henry Paulson is saying, “I think we’re there.“

John McCain says he’s going to be at the first presidential debate, even though Congress doesn’t have a bailout deal.

President Bush predicted dire consequences if Congress doesn’t act on the proposed $700 billion economic bailout plan.  But some House Republicans are refusing to go along with the plan and are pushing one of their own.

Barack Obama said he plans to be at the debate even if McCain isn’t.

Trump says the bailout is “probably needed” to stave off an economic depression brought about by “lots of bad policy by the Bush administration.“
   

The eyes of Wall Street and the world are on Washington today as President Bush and Congress hold emergency meetings on an economic bailout.

President Bush told the nation Wednesday night we’re in the midst of a “serious financial crisis” that could turn into “financial panic.“

Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson go before a House panel, a day after senators took them to task.

President Bush says that despite congressional debate over his proposed $700 billion financial bailout plan, “a robust plan” will be passed.

Stocks are moderately higher in early trading as investors await testimony from top federal economic officials before Congress about efforts to hammer out a $700 billion financial rescue plan.

The speech has been reworked to include assurances that the administration is moving aggressively to avoid a worldwide financial meltdown.

Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke go before the Senate Banking Committee to discuss the administration’s proposed 700 billion-dollar bailout plan.