The United States Congress is ready to vote on a 700-billion-dollar package meant to rescue America's troubled financial system. President George W.
Bush urged lawmakers to pass the plan this Monday so as to stabilise turbulent credit markets. On Sunday, US lawmakers from both political parties and White House officials agreed to the bailout package. Now it has to go to a vote before both houses of Congress. The package allows the treasury secretary to buy up bad debts from troubled banks in the hope of easing the credit flow and reviving the housing market. If approved, it will be the largest government economic intervention since the Great Depression of the 1930s.
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