700 billion bill will get passed, page-9

LOL and by the presidents own party. What a time for these guys to finally get a back bone and stand up to this losser.

The Dow Jones industrial average posted its biggest point loss ever while the tech-heavy Nasdaq plummeted nine per cent -- its biggest daily loss since the dotcom bubble burst in 2000. Latin American stocks tumbled 13 per cent, their biggest decline in more than a decade.

The House of Representatives voted 228-to-205 against a compromise bailout plan that would have allowed the Treasury Department to buy up toxic assets from struggling banks. House Republicans, in particular, balked at spending so much taxpayer money just before the Nov. 4 US elections.

US President George W. Bush was set to huddle with economic advisers to consider the administration's next move after the White House failed to win support for the bailout plan from Bush's fellow Republicans.

The bailout plan was announced by the Bush administration a little over a week ago. Republican House members voted against it by a more than 2-to-1 margin. A majority of Democrats voted in favour.