US Bailout Fails, though Rockland Delegates voted 'yes', by Ken Mahoney

ROCKLAND’S CONGRESSIONAL DELEGATION VOTES “YES” FOR BAILOUT

Rockland’s entire congressional delegation yesterday voted in favor of a $700 billion dollar economic bailout bill. Their votes, however, were simply not enough to move the plan forward as the total tally fell thirteen shy of passage. The bill was defeated 228 to 205 with support from roughly two thirds of the house’s democrats and only a third of its republicans.

No movement will occur until late Wednesday or Thursday as many left Washington following the vote to observe the Jewish holiday of Rosh Hashanah, which began sundown last night.

Wall Street was quick to respond to Congressional rejection of the bill with stocks tumbling sharply, down 778 points. While it’s the largest Dow Jones point plummet of all time, percentage-wise, it was the seventeenth steepest decline.