Industry NewsMarkets & Economy

House passes bailout bill

Federal bid to restore financial markets heads to president
Published on Oct 3, 2008

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by CareyBot

In a 263-171 vote, the U.S. House of Representative today approved a massive spending plan -- voted down in an earlier form Monday -- that will supply hundreds of billions of dollars in a federal effort to ease the credit squeeze by buying up bad assets from financial companies.

President Bush signed the legislation shortly after the vote.