Congress Passes $700 Billion Bail Out Scam

The U.S. government enacted a landmark $700 billion bank bailout on Friday, but investors questioned whether it could contain a panic that began on Wall Street and spread to become a global financial crisis.

The U.S. House of Representatives approved the rescue plan by a vote of 263-171 on Friday. That sent the measure to President George W. Bush, who quickly signed it into law, concluding two weeks of high-stakes haggling over the plan that had roiled and captivated global markets.

Markets pivoted on passage of the U.S. bailout, as investors' attention turned to signs of a gathering recession.

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