Financial Times FT.com

Lehman Brothers

Anger as House rejects rescue plan

By Daniel Dombey and James Politi in Washington

Published: September 29 2008 18:55 | Last updated: September 29 2008 21:18

Anger and confusion overwhelmed the House of Representatives on Monday as Republican legislators ripped into a $700bn financial rescue package backed by almost the entire US political establishment. Congressional leaders scrambled for an alternative course of action once it was voted down.

Powerful last-minute pleas by John Boehner, the House minority leader, and Nancy Pelosi, speaker of the House, were unable to prevent the defeat of the bill by 228 votes to 205, with Republicans voting by two to one against and divided Democrats unable to make up the difference.

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