White House urges swift financial bailout bill

The White House urges the House of Representatives to swiftly pass the US$700 billion financial rescue package.

WASHINGTON // The White House today urged the House of Representatives to swiftly pass a US$700 billion (Dh2.6 trillion) financial rescue package, saying it expects "much, if not all" of that amount to ultimately be recouped. In an official statement of administration policy ahead of the House's vote, the White House affirmed its strong support for the bailout legislation, saying it would "send an important, helpful signal to markets here and abroad that the federal government will take the actions necessary to get our financial system back on track." *Reuters