In its second vote in five days, the US House of Representatives approved a massive bailout package for the major banks and finance houses. The legislation, passed by a vote of 263 to 171 Friday afternoon, gives US Treasury Secretary Henry Paulson virtually unrestricted powers to use at least $700 billion to buy up largely worthless paper assets from Wall Street using taxpayers money. In a press conference held immediately after the vote, House Speaker Nancy Pelosi, Majority Leader Steny Hoyer, Financial... read more
