The fate of the government’s $700 billion financial bailout plan was thrown into doubt Monday as the House rejected the measure. The defeat left the Bush administration and congressional leaders scrambling to figure out whether to renegotiate the bill and introduce it again as soon as Thursday or try other options. Stock markets reacted violently.
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NDP Leader Jack Layton urged Prime Minister Stephen Harper to call a special meeting for federal party leaders to discuss the potential effects of the U.S economic crisis on Canadians, but Harper has rejected the proposal.
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Stocks skidded this afternoon, with the Dow’s nearly 778-point drop being the worst single-day point loss ever, after the House rejected the government’s $700 billion bank bailout plan.
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The lower house of the US Congress votes down a $700bn (£380bn) plan to bail out Wall Street, as it sees its biggest daily points fall ever.
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The Toronto stock market hit an 800-point downdraft Monday as a financial bailout bill was voted down in Washington and the price of oil dropped below $100 US a barrel.
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Democrats and Republicans on Capitol Hill immediately blamed each other for the failure of a $700 billion bailout package in the House on Monday.
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The vice presidential candidates on Monday are squeezing in campaign appearances in battleground states before they transition into debate prep mode.
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The suspect in an attack on a gay man in the city’s West End on the weekend made a brief appearance in Vancouver’s new community court on Monday morning.
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A trustee for Heath Ledger’s daughter has sued an insurance company over a $10 million policy the actor took out seven months before his death in January from a drug overdose.
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