The House of Representatives has defeated the $700 billion plan to bail out the U.S. financial system, against the urging of President Bush, Treasury Secretary Paulson, Fed Chairman Bernanke, and others.
Stocks plummeted on the news.
Yes votes and no votes were bipartisan in nature, with significant votes for and against the bailout coming from the Democratic and Republican aisles.
The bill has been wildly unpopular on Main Street.
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