This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/americas/7644265.stm
The article has changed 18 times. There is an RSS feed of changes available.
| Version 6 | Version 7 |
|---|---|
| Bush warning over bail-out delay | Bush warning over bail-out delay |
| (10 minutes later) | |
| US President George W Bush has warned the US economy is at a "critical moment", and vowed to get his Wall Street rescue plan through Congress. | US President George W Bush has warned the US economy is at a "critical moment", and vowed to get his Wall Street rescue plan through Congress. |
| He said the consequences would be "painful and lasting" if the $700bn (£380bn) deal rejected by the US House of Representatives was not passed. | He said the consequences would be "painful and lasting" if the $700bn (£380bn) deal rejected by the US House of Representatives was not passed. |
| He offered reassurances to citizens of the US and wider world that the current political deadlock would be resolved. | He offered reassurances to citizens of the US and wider world that the current political deadlock would be resolved. |
| The New York stock market opened with prices up after Mr Bush's statement. | The New York stock market opened with prices up after Mr Bush's statement. |
| The Dow Jones index was about 2% higher in initial trading, rebounding from Monday's record losses. | The Dow Jones index was about 2% higher in initial trading, rebounding from Monday's record losses. |
| Global shares have seen volatile trading since Monday's vote. | Global shares have seen volatile trading since Monday's vote. |
| In Brussels, the European Union earlier urged Washington to live up to its special responsibility and demonstrate statesmanship to resolve the global credit crisis. | In Brussels, the European Union earlier urged Washington to live up to its special responsibility and demonstrate statesmanship to resolve the global credit crisis. |
| 'Not the end' | 'Not the end' |
| Mr Bush said at the White House: "We are in an urgent situation and the consequences will grow worse each day if we do not act." | Mr Bush said at the White House: "We are in an urgent situation and the consequences will grow worse each day if we do not act." |
| The economy was depending on "decisive action on the part of our government", he added. | The economy was depending on "decisive action on the part of our government", he added. |
| We're facing a choice between action and the real prospect of economic hardship for millions of Americans President Bush Where votes went in the billQ&A: US $700bn rescue planWorld reacts to US bail-out rejection He said he wanted to "assure our citizens and citizens around the world that this is not the end of the legislative process". | We're facing a choice between action and the real prospect of economic hardship for millions of Americans President Bush Where votes went in the billQ&A: US $700bn rescue planWorld reacts to US bail-out rejection He said he wanted to "assure our citizens and citizens around the world that this is not the end of the legislative process". |
| "Our country is not facing a choice between government action and the smooth functioning of the free market," he said. | "Our country is not facing a choice between government action and the smooth functioning of the free market," he said. |
| "We're facing a choice between action and the real prospect of economic hardship for millions of Americans," he warned. | "We're facing a choice between action and the real prospect of economic hardship for millions of Americans," he warned. |
| Republican presidential contender John McCain said he was disappointed at the "lack of resolve" shown by both parties in the US House of Representatives. | |
| He said he had called Mr Bush on Tuesday, as did his Democratic rival, Barack Obama. | |
| Both candidates back the rescue plan, although each has accused the other of injecting politics into horse-trading over the deal. | |
| Republicans and Democrats have been blaming each other for the failure of the rescue plan, which was rejected by 228 to 205 votes in the House of Representatives on Monday. | Republicans and Democrats have been blaming each other for the failure of the rescue plan, which was rejected by 228 to 205 votes in the House of Representatives on Monday. |
| About two-thirds of Republican lawmakers refused to back the rescue package, as well as 95 Democrats in tense scenes rarely seen on the House floor. | About two-thirds of Republican lawmakers refused to back the rescue package, as well as 95 Democrats in tense scenes rarely seen on the House floor. |
| The House is not due to meet again until Thursday as many members have gone home for a Jewish holiday. | The House is not due to meet again until Thursday as many members have gone home for a Jewish holiday. |
| HAVE YOUR SAYI know we need a strong financial sector, but where is the talk of structural change that's going to prevent recurrence?Neil, California, USSend us your comments | HAVE YOUR SAYI know we need a strong financial sector, but where is the talk of structural change that's going to prevent recurrence?Neil, California, USSend us your comments |
| For the second time in as many days on Tuesday, Western European governments stepped in to prop up an ailing financial institution. | For the second time in as many days on Tuesday, Western European governments stepped in to prop up an ailing financial institution. |
| The French and Belgian governments rescued the Franco-Belgian financial services group, Dexia, with a package totalling more than $9bn (£5bn). | The French and Belgian governments rescued the Franco-Belgian financial services group, Dexia, with a package totalling more than $9bn (£5bn). |
| Its share price had fallen sharply following reports that it was seeking extra funds after governments bailed out its rival, Fortis. | Its share price had fallen sharply following reports that it was seeking extra funds after governments bailed out its rival, Fortis. |
| As Dexia's chairman and chief executive both quit, French President Nicolas Sarkozy met banking leaders, urging them to keep their credit lines open to businesses. | As Dexia's chairman and chief executive both quit, French President Nicolas Sarkozy met banking leaders, urging them to keep their credit lines open to businesses. |