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House urged to revisit bailout vote

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Observance of the Jewish holiday Rosh Hashanah will likely prevent the House from immediately revisiting its vote to reject legislation that would have empowered the Bush administration to buy billions in frozen assets from banks and financial institutions.In the meantime, congressional leaders will continue to work out a compromise -- which two influential senators think may have more to do with House opponents coming to realize the potential repercussions to their vote than any fundamental changes to the bill itself.Speaking at a joint press conference Monday after the House voted 228-205 to defeat the Emergency Economic Stabilization Act of 2008 (HR 3997), Sens. Chris Dodd, D-Conn., and Judd Gregg, R-N.H., said the bill was a carefully considered, bipartisan compromise. They said the legislation includes the necessary taxpayer protections and oversight of the administration's proposal to borrow $700 billion to buy distressed assets from banks and financial institutions.Dodd suggeste...