It’s a done deal; the House passed the $700 Billion Bailout

The Washington Post reported minutes ago:


“In a dramatic reversal, the House today approved by a comfortable margin a $700 billion financial rescue package that will bring the greatest intervention of the federal government into the private marketplace since the Great Depression, attempting to prevent the economy from sliding into a deep recession.

“Coming just four days after the legislation's initial demise sparked a free fall on Wall Street, the House approved the legislation 263-171. At 1:23 p.m., the measure cleared a majority of votes and the chamber broke out in applause.

“After initially rejecting the legislation on a 2-to-1 margin, 91 House Republicans backed the legislation on the second try, with 172 Democrats supporting its passage.”

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