The House of Representatives of the U.S. Congress after four hours of heated debate, rejected the bill to implement emergency measures to resolve the acute financial crisis in the country. As , v. 228 deputies voted "yes" - 205.
Several hours earlier, U.S. President George W. Bush at the White House with a brief statement, which called on lawmakers to approve prepared by the febrile consultations recent days a package of emergency measures.
Recall that package consisting mainly of funding from the federal budget some 700 billion dollars for ransom have lost the liquidity of investment bonds for commercial banks. In addition, a Ministry of Finance plan allows the U.S. to designate where necessary to manage such assets.
- The Russian State once sent to support the market trillions
- American lawmakers amount to 700 billion surprised
- U.S. stock exchange reacted collapse
- A morning they could collapse and the Russian market
It and the creation of an oversight body to monitor the use of allotments. Finally, restrictions on the payment of bonuses to managers of private banks and companies that will receive public assistance under the program. Speaking at a regular briefing for journalists just an hour before the vote, Deputy Press Secretary Tony Fratto White House predicted passage of the bill through the House of Representatives. "We will be sufficient to receive a bill number of votes. Of course, we are sure," - said an official of the American leader.
Despite the efforts of government and Bush himself, Bill has received widespread support from ordinary taxpayers, forcing many members of Congress think seriously about whether to approve it. This is all the more understandable that legislators will soon be left to their districts to prepare for elections to Congress. They will be held in November in conjunction with the election of the president. They will be re-elected for a third of the Senate and House of Representatives as a whole.
Commenting on the results of the vote, the same Fratto said that Bush intends to discuss the situation at a meeting with his economic advisers, to be held later today (at the time East Coast USA). The head of the Washington administration "very disappointed" the position taken by the House of Representatives. "There is no doubt that the country faces a serious crisis, which must find an answer", - stressed Fratto.
American lawmakers amount to 700 billion surprise
"When you have the last time someone requested 700 billion dollars?" - Asked fellow lawmakers in a speech before the vote, the Speaker of the House of Representatives Nancy Pelosi , which cites . According to Pelosi, 700 billion dollars "is killing the figure, but it is only a fraction of the price, which accounts for failure to pay for Bush's economic policies."
Pelosi and other leaders of both Democrats and Republicans in the House of Representatives were made before the vote to support the document in order to save the U.S. economy, despite the fact that the bill was not perfect, but very large number of American lawmakers did not follow that call.
Stock exchanges have reacted collapse
The collapse of the major stock indicators reacted to the decision to site the U.S. House of Representatives. By mid-session on the New York Stock Exchange index of Dow Jones - a leading indicator of business activity in the country - fell during the bidding process on Monday by more than 6%. During the bidding process on 29 September Dow Jones index dropped by 709.03 points (6.36%) - to 10434.10 points.
By the closing session on Monday on the New York Stock Exchange Dow Jones index fell by 777.68 points (6.98%) - up to 10365.45 points. Thus, a new record. In the history of the Stock Exchange in New York, Dow Jones has never experienced such a catastrophic collapse. So far, the largest collapse of the session occurred during the first auction after the attacks of 11 September 2001. Then the main stock index fell by 684.81 platform item: lost in the price of shares over three thousand companies, excluding securities amounted to 162 firms.
Experts pointed out that at some point decline in Dow Jones exceeded 700 points. Period of the most disastrous decline in the index reached 10 minutes and coincide with the completion of the vote in the House of Representatives of Congress.
Following the Dow Jones dropped other stock indices. Thus, the index Standart & Poors-500 fell by 63.13 points (5.20%) to 1150.14 points. Composite Index NASDAQ electronic stock exchange fell by 124.29 points (5.69%) to 2059.05 points.
In doing so, the price of oil on the New York Commodity and Raw Materials Exchange (NYMEX) start to fall before the House decision, but as soon as it became known, fell by more than 10 dollars compared to the closing bid on Friday.
As of 22:45 cost of the November futures for U.S. light oil brand Light Sweet Crude Oil fell to 96.07 dollars per barrel. On Friday, bidding closed at around 106.89 dollars per barrel.
The collapse of Russian stock market are waiting on Tuesday morning
The Russian stock market on Tuesday could further deep decline, which began the previous day, after the sensational failure in the U.S. Congress a package of saving the American financial system, a Russian economists.
"I do not think that our market decides and show" a goat "all humanity" - said in a live radio station Business FM on Monday evening, the head of the Board of Directors of Investment Group "Entente PioGlobal Eugene Kogan.
However, the Federal Service for Financial Markets (FSFR Russia) does not intend to take extraordinary measures in case of movement of Russian stock market in line with worldwide trends, but ready to act strictly in the event of a panic, commented the head of Federal Financial Markets Service Vladimir Milovidov possible action by authorities in connection with the decision of the U.S. Congress.
"If we move in line with worldwide trends, the extraordinary measures taken should not be. If it starts panicking, have debt problems, it will take action, and very hard" - said Milovidov.
According to him, to such tough action has been known to include measures to suspend the bidding - as generally on exchanges or on individual securities, as well as a ban on certain types of transactions.
Milovidov assured that the Federal Financial Markets Service has carefully monitored the situation on world financial markets in connection with the decision of the U.S. Congress. "We will now analyze the situation, it is in the international market is unfavorable. In a crisis Europe, is the destabilization of the banking system. We find ourselves hostages of this situation," - said the head of department.
"It seems that the trend towards a decline in world financial markets will persist. Russia - part of the global financial system, and this will affect us" - said Milovidov.
However, he believes that the dramatic actions of regulators can prevent long-term development of the stock market.
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