President Bush, Treasury Secretary Henry Paulson and the leadership of both parties pushed for a $700 billion financial bailout plan intended to shore up the nation’s lenders. Such consensus is rare these days in American politics, but the bill still failed in the House on Monday afternoon.
Senate leaders on Tuesday pleaded for an end to the finger pointing that erupted after the failure of a $700 billion financial rescue plan in the House on Monday.
My family doesn’t use credit much. We pay off our charge cards every month. We drive used cars. We paid off our house mortgage early and have not refinanced. We carefully live well within our means. In fact, until very recently, my “apartment” in Washington has been my office.
The $700 billion economic rescue plan failed in the House of Representatives because people don’t think it will do anything for them, Republican presidential nominee Sen. John McCain told CNN’s “American Morning.”
Prosecutors are ready for testimony Tuesday from the man who bankrolled most of the “free benefits” that Sen. Ted Stevens of Alaska is accused of trying to hide.
