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rank and file members of both the Republican and Democratic parties rebelled, after many received complaints from their constituents about the deal to use taxpayers’ funds to buy devalued assets of major Wall Street firms.
With just a simple majority needed to pass the bill, 94 Democrats joined the rebellion, defeating the bill by 228 to 205.
US investors were also unnerved by the buyout of the country’s sixth largest bank Wachovia by Citigroup |
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