US House plans second vote on bailout

By
October 3, 2008 17:25

 
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After a week of tumult on Wall Street and Washington, the House of Representatives moved toward a final vote Friday on a $700 billion bailout of the US financial industry, an unprecedented government intervention designed to steady an economy on the brink. Congressional leaders expressed quiet confidence they would have the votes to send the measure to President George W. Bush for his signature by day's end, four days after an earlier version was rejected. "Our economy is not stable. Working families are suffering. Unemployment is over 10 percent in my district," said Rep Hilda Solis. The Democrat voted against the measure that failed on Monday, but this time, she said she was considering a switch. The bill's critics said it was a step in the wrong direction.

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