The Real Deal Miami

House approves $700B bailout

October 03, 2008 02:03PM

 
The House of Representatives gave final approval today to a $700 billion bailout for the financial system in what may be the most expensive government intervention in history. The vote was 263-171, passing by a comfortable bipartisan margin. The Senate approved the plan on Wednesday night by a vote of 74 to 25. The bill now heads to President George Bush, who has said he is eager to sign it in the face of recent turmoil on Wall Street. The Dow Jones Industrial Average was up 220 points in early afternoon trading as the vote was tallied. [WSJ] and [NYT]