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DAILY TELEGRAPH US election 2012: Rick Santorum thrusts back into race with Minnesota win over Mitt Romney - Wed, 08 Feb 2012 05:36:26 GMT
US election 2012: Rick Santorum thrusts back into race with Minnesota win over Mitt Romney - Wed, 08 Feb 2012 05:36:26 GMT
FINANCIAL TIMES RBS shake-up has cost £38bn so far - Tue, 07 Feb 2012 20:03:56 GMT
RBS shake-up has cost £38bn so far - Tue, 07 Feb 2012 20:47:10 GMT
BBC NEWS BBC News - Business - Tue, 07 Feb 2012 23:56:08 GMT
BBC News - Business - Wed, 08 Feb 2012 04:22:12 GMT
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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
US $700 bn bailout stalls
In a surprise vote last night the House of Representatives have voted down the $700bn bank bailout, with the bill only getting 205 votes in favour, 13 votes short of the 218 majority required.
With the US elections due to be held in early November it would appear that public opinion, which is turning against the bailout, has come to bear . This resulted in a small number of Democrats and a majority of Republicans voting against the bill.
At the end of a debate that was watched around the world, and with vote going against the bill, the Speaker held the gavel poised, presumably while the votes of some were trying to be changed, before banging the gavel down which then officially ratified the vote.
The likely result today is that stock markets will suffer sharp falls, and this is likely to continue to an extent for the rest of the week as the US legislature take the Jewish holidays. However one suspects that by the end of next week a redrafted bill will be presented and passed as there is the political will to get a deal done.
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