Summary
FEARS of further banking failures erupted last night after the $700bn Wall Street rescue package was struck down by the House of Representatives.
The news sent Wall Street plunging an unprecedented 778 points amid concerns the financial turmoil will drag America into a deep recession and take the rest of the world with it.See the full content of this document
Extract
Bail-Out Blow for Wall Street
On a day that five major European and US institutions had to be bailed out, Treasury Secretary Hank Paul-son's plan to create a toxic dump for soured loans was torpedoed b...
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