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House Ignores Bush, Defeats Bailout Plan

Missouri's congressional delegates were busy in Washington today participating in a historic vote- the House rejected the federal bailout plan 228 to 205 in a mid-afternoon vote. KSMU's Alvin Chen reports.

Missouri's representatives were split on the issue.

Five of Missouri's House members supported the $700 billion rescue plan, while four came out against it.

Those favoring the bill include Republicans Roy Blunt and Jo Ann Emerson and Democrats Russ Carnahan and Ike Skelton.

Those opposing it include Republicans Kenny Hulshof, Sam Graves and Todd Akin.

Hulshof is running for governor. His campaign spokesperson Scott Baker said the congressman believes there's a better way to address the problem than putting taxpayers in this position.

Roy Blunt, the No. 2 GOP leader, was part of the group that worked to negotiate a compromise.

The bailout plan is unpopular, but many House leaders say it's necessary to prop up shaky financial institutions and free up frozen line of credit.

After the House rejected the bailout plan, the Dow Jones Industrial Index plummeted, losing nearly 778 points, the most it's ever dropped in one day.

For KSMU News, I'm Alvin Chen.