U.S. Speaker of the House Rep. Nancy Pelosi (D-CA) (C) celebrates as she signs the H.R. 1424 Emergency Economic Stabilization Act of 2008 during a news conference as (L-R) Rep. Chris Van Hollen (D-MD), Rep. Barney Frank (D-MA), House Majority Whip Rep. James Clyburn (D-SC), House Majority Leader Rep. Steny Hoyer (D-MD), Rep. Rahm Emanuel (D-IL), and Rep. John Larson (D-CT) look on October 3, 2008 on Capitol Hill in Washington, DC. The House has passed the financial bailout bill 263 171...Read Full Story
The ABC News digital sign in Times Square announces the stock market plunge September 29, 2008 at Times Square in New York City. The market took a plunge after announcements that the House did not pass the $700 billion proposed bailout. (Photo by Rick Gershon/Getty Images North America) Let's do a little exercise.Take out a piece of paper and a pen.Now draw a wiggly line from the upper left to the lower right.Congratulations, you've just graphed today's stock market.Every measure of market...Read Full Story
Speaker of the House Nancy Pelosi (D-CA) talks to the news media during a news conference with House Majority Leader Steny Hoyer (D-MD) (L), Majority Whip James Clyburn (D-SC) (3rd L), Rep. Rahm Emanuel (D-IL) and House Financial Services Committee Chairman Barney Frank (D-MA) on Captiol Hill September 29, 2008 in Washington, DC. The House failed to pass the Emergency Economic Stabilization Act, 205-228. Wall Street immediately reacted with the Dow Jones Industrial Average dropping by more...Read Full Story
The 2008 Financial Bailout is a proposed $700 billion measure that would attempt to relieve strains put on the economy by crashing financial markets.