Concerns with the bailout plan
The House of Representatives voted against the Emergency Stabilization Act of 2008 on Monday, repudiating the plan Congressional leaders and the White House had hoped would end the financial storm within the capital markets. Treasury Secretary Henry Paulson’s initial bailout plan put forth September 20 proposed giving him – and his successors – sweeping powers to spend $700 billion of taxpayer money to purchase troubled mortgage-backed securities. Those securities use the value of the underlying homes as collateral.














