MBS Players Focused on Govt. Rescue Bill

By Sally A. Runyan/Thomson Reuters

October 6, 2008

The markets were set for positive news on Monday with the expected passage of the government's Emergency Economic Stabilization Act of 2008, which includes the Troubled Asset Relief Program (TARP). Lawmakers worked long hours all weekend to develop a plan that was palatable to both sides of Congress. Instead, what the markets got was a stunning defeat of the bill by 228-205 as a large number of House Republicans voted against it.

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