House Approves Bailout For Financial Markets

House Approves Bailout For Financial Markets

www.cnbc.com

The House approved a revised $700 billion financial rescue package, ending a weeklong battle over a controversial measure after lawmakers came under pressure to head off a growing financial crisis.

The plan, which was already approved by the Senate, would allow the government to spend billions of dollars to buy bad mortgage-related securities and other devalued assets from troubled financial institutions.

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Related AboveTopSecret.com Discussion Threads:
Bailout

Bye Bye America. It's over.
We have entered a new era, a Fascist Socialist society.
I can't believe that our House let us down. I actually had hope they wouldn't pass it.

What does this mean? Well the Dow went down 200 points the instant it passed. So I would say it means the death of the U.S. Dollar. It means that no one else on the planet will want to hold Dollars anymore.

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