House rejects financial bailout bill
Update: Pelosi keeps vote clock open in last-ditch effort to persuade House Members to reverse their votes.
By Jay Fitzgerald
Monday, September 29, 2008 - Updated 3m ago
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Boston Herald General Economics Reporter
Jay Fitzgerald has been a journalist and blogger for years. He's now the general economics reporter for the Boston Herald.
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The U.S. House today rejected an historic $700 billion bailout of Wall Street despite legislative leaders appeal to rank-and-file members that the bill was needed to save the U.S. economy from possible catastrophe.
After more than three hours of debate, the legislation, which now heads to the U.S. Senate, was rejected on a 226-207 vote.
The Dow Jones Industrial Average dropped sharply on the vote. It was down more than 560 points.
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