October 3rd, 2008
01:50 PM ET
6 years ago

House passes bailout

The House passes bailout.
The House passes bailout.

NEW YORK (CNNMoney.com) – The House on Friday passed a far-reaching and historic plan to bail out the nation's financial system.

The vote for passage of the Senate-amended bill – 263 to 171 – was the result of strong lobbying on the part of the White House and other supporters of the bill all week, following the House defeat of a similar measure on Monday – a defeat that shocked the markets and congressional leaders on both sides of the aisle.

According to preliminary numbers, 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.

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Filed under: Congress
soundoff (184 Responses)
  1. Andy J, NY

    All of you folks cheering for this bailout are going to be sad when you realize ITS NOT GOING TO HELP.

    This is a sad day for America. This bill is an abomination. My weekend is ruined.

    October 3, 2008 02:20 pm at 2:20 pm |
  2. Bonnie

    THIS DOES NOT SOLVE THE PROBLEM!!!!!! There are many of us losing our HOUSES. Nobody cares. We been asking for help for a long time. THE rich will still be richer and we will be the mules to take the weight. What if they give all of the taxpayers a million dollars. We won't need banks or Wall Street. We work so hard for what? To get screwed! I feel George Bush and all the Walstreet employees should go to their bank accounts and pay for our taxes for the next five years. This should include Greenspan with his great advise and the idiot on Mad Money. This was all bad advice. We relied on this so called money experts. I am in the medical field. If I give bad advise, I get sued. Lets sue the government, wall street and these poor financial advisors.

    October 3, 2008 02:21 pm at 2:21 pm |
  3. Carol

    I think every tax payer should stop paying tax of any kind for 60 days and protest if they really want to get mad at those Representative and Congressman that don't listen to "We The People" Just see if they get a pay check.

    October 3, 2008 02:21 pm at 2:21 pm |
  4. ARB

    All I can say is......GET READY FOR THE NEXT GREAT DEPRESSION!!!

    October 3, 2008 02:21 pm at 2:21 pm |
  5. Abbey

    Better to save a dying man first, and invetigate the cause of the accident later... Democrats have started to save the day and troubles caused by McBush & Co.

    McPain could not even engage its base to vote with their senses, but still playing politics... Whichever way you look at it, McBush, McPain.. & co are absimmal failure.

    Think right and vote for the real change... Obama/Biden.

    October 3, 2008 02:21 pm at 2:21 pm |
  6. John in Ohio

    The best part about a bipartisan bill, backed by the Republican President, House Republican and Democrat leaders, and Senate Republican and Democrat leaders, is watching Republican heads explode trying to find a way to criticize the Democrats for it. Oh, that darn Nancy Pelosi and those House Democrats put this bad bill into law, oh no! Yeah... but it was Bush's bill. Darn those Senate Democrats for voting for this terrible bill in the Senate... but McCain also voted for it.

    Guess you Republicans better go out and vote third party now, the Republican National Committee doesn't support conservatism anymore. The current Republican President and the Republican presidential candidate don't support conservatism anymore. Go vote for Bob Barr, he's a fiscal conservative.

    October 3, 2008 02:22 pm at 2:22 pm |
  7. Pam

    Has McCain taken credit yet?

    October 3, 2008 02:22 pm at 2:22 pm |
  8. hakeemsdad, Florida

    what a stupid move!!

    Let's give a loser president and his team $700B before they leave officve in few months!!!!

    October 3, 2008 02:23 pm at 2:23 pm |
  9. Ted

    Thanks to Obama. McCain once again failed to deliver the majority of the republican vote.

    October 3, 2008 02:27 pm at 2:27 pm |
  10. rox

    I sure hope they all enjoyed there vote... I intend on voting out anyone in office at this time from the house and senate. Maybe just maybe if more people did this they would once and for all get the message : WE THE PEOPLE:
    I only wish there was a independent in the race because I don't want things as usually.

    October 3, 2008 02:27 pm at 2:27 pm |
  11. Mcty36

    No golden parachute but they are not telling us what they will be getting. I am sure it will be a lot more than I would get if I got fired or my business goes toes up.

    October 3, 2008 02:29 pm at 2:29 pm |
  12. Debby

    Great here come the bailout taxes we have to pay.

    October 3, 2008 02:29 pm at 2:29 pm |
  13. Louie Stowel

    The American people will have our day. How dare you , Democrats, Republicians, hear this message well. We the people will go to the polls and prove to you how inconsiderate and out of touch you are. We have had enough of your greed and corruption stealng every last dime from the people that put you in office. you will soon find out we can vote you out as well as vote you in. This bailout package you con artist crooks call the bailout is insanity. please explain to me a seniour citizen living on 1300.00 in social security why I need to bail out a wooden arrow company. What on earth does a wooden arrow company have to do with wall street crooks. Do you people ever have even a hint of decency? Trust me, every American I know will work the hardest in the history of this country to elimanate every last one of you crooks. It is time for us taxpayers to take our country back. crawl back under your rocks and hang your head in shame you are a discrace to the American people.

    October 3, 2008 02:30 pm at 2:30 pm |
  14. Tony

    THE REPUBLICAN PARTY IS RUNNING SCARED, JUST AS THEY SHOULD!

    October 3, 2008 02:30 pm at 2:30 pm |
  15. sandee in Portland

    Thank God! While I'm not happy about it, this had to be done. Both small business and large corporations run their businesses by drawing on their lines of credit to purchase inventory, meet payroll, etc. This means that they will now be able to continue and not have to lay off employees just to keep running.

    Credit drives the economy. The problem is most people, including some who probably post on these sites, use credit irresponsibly...and that had a lot to do with us getting in this mess, along with McCain and Bush's deregulation of the lending industry. I regularly see people using credit to even buy groceries and have been seeing this for several years, not just lately. Credit should be used for buying houses, cars, large ticket items, not clothes, groceries, etc. I cut up my credit cards 10 years ago (best thing I ever did). If I don't have the money to buy something, I don't buy it. It meant I went without buying what I wanted and had to actually save in order to buy.

    October 3, 2008 02:31 pm at 2:31 pm |
  16. josh

    History will remember this as the day that American Free Enterprise died.

    October 3, 2008 02:31 pm at 2:31 pm |
  17. Cantafford

    I hope you hold those responsible for Fannie and Freddie failures responsible.

    Think you got to do an investigation and see where all the money went. And expose them to the public.

    This will surprise a lot of the Obama crowd.

    McCain/Palin

    October 3, 2008 02:31 pm at 2:31 pm |
  18. ruth, sc

    To Typical White Person who said "I'm witnessing the death of democracy and the birth of socialism in America" – You haven't seen anything yet. Wait until Obama puts his hand on the Bible in January,,,,

    October 3, 2008 02:31 pm at 2:31 pm |
  19. CW

    Billions of dollars going to the OVERSEAS INVESTORS so save them. They take out the points that will help the average American that is hurting the most. 3/4 of this money is going to help Overseas investors. What the he!! has that got to do with the American economy??????????????? There's more pork in this than there's lipstick on Palin. What an outrage this so called Bailout is. Bill put in this that could and should have been taken care of over the past year, but not put in this bill............................America Screwed again and by both parties. Fire them all and elect an INDEPENDENT FOR PRESIDENT. this is a travesty and a down right robbery of the American tax payer. Wooden arrows??????????? That sure is going to help thousands of people that are loosing their homes because they got screwed on their mortgage!

    VOTE INDEPENDENT!!!!!!!!!!!! LOU DOBBS FOR PRESIDENT!!!!!!

    October 3, 2008 02:32 pm at 2:32 pm |
  20. Tony - Fla

    Sold Out.

    October 3, 2008 02:32 pm at 2:32 pm |
  21. JG

    Has the Government forgotten that being free also means being free to fail? They have just socialized corporate losses and handed us the bill.

    October 3, 2008 02:33 pm at 2:33 pm |
  22. Will

    Bailouts+Obama's socialist ideals= the largest step toward socialism in our Country's history. We must put the Constitution first in November.

    October 3, 2008 02:33 pm at 2:33 pm |
  23. Cantafford

    Please get your facts straight. It was not the Bush administration. Try looking back to 1999 and not at the yellow jounalizm that is thrown in your face.

    McCain/Palin

    October 3, 2008 02:34 pm at 2:34 pm |
  24. gt

    quick some shut nancy pelosi before she blows it again

    October 3, 2008 02:35 pm at 2:35 pm |
  25. John in Ohio

    "I hope you hold those responsible for Fannie and Freddie failures responsible.

    Think you got to do an investigation and see where all the money went. And expose them to the public.

    This will surprise a lot of the Obama crowd."

    Rick. Davis.

    October 3, 2008 02:35 pm at 2:35 pm |
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