{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Highlights of opposition on House floor against rescue plan' data-url='/boclips/videos/5c54c117d8eafeecae14fb71' data-video-url='/boclips/videos/5c54c117d8eafeecae14fb71' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nHighlights of opposition on House floor against rescue plan\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Interior of US House of Representatives2. SOUNDBITE (English) Ted Poe, Texas representative (Republican):\"Small businesses, mom and pop grocery stores, don't get this break when they make bad financial decisions. They go out of...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Interior of US House of Representatives\u003cbr/\u003e2. SOUNDBITE (English) Ted Poe, Texas representative (Republican):\u003cbr/\u003e\"Small businesses, mom and pop grocery stores, don't get this break when they make bad financial decisions. They go out of business. But the rich and famous Wall Street New York City fat-cats expect Joe six-pack to buck it up and pay for all this nonsense. Reward people for being irresponsible and expect responsible people to pay for the sins of the financial industry. I think not.\"\u003cbr/\u003e3. Interior of US House of Representatives\u003cbr/\u003e4. SOUNDBITE (English) Jeb Hensarling, Texas representative (Republican):\u003cbr/\u003e\"I fear that under this plan, ultimately, the federal government will become the guarantor of last resort and Madam Speaker, that does put us on the slippery slope to socialism. If you lose your ability to fail, soon you will loose your ability to succeed.\"\u003cbr/\u003e5. Interior shot of US House of Representatives\u003cbr/\u003e6. SOUNDBITE (English) Brad Sherman, California representative (Democrat):\u003cbr/\u003e\"Just because this bill is unpopular doesn't mean we have to pass it immediately. Some 400 eminent economists, including three Nobel laureates, are asking us to come back and do our job and write a good bill in the next week or so. They state, and their chart is here, you might want to read along: 'We ask Congress not to rush, to hold appropriate hearings and to carefully consider the right course of action.' Four-hundred economists, three Nobel laureates.\"\u003cbr/\u003e7. Interior of US House of Representatives, Texas representative Lloyd Doggett (Democrat) speaking \u003cbr/\u003e8. SOUNDBITE (English) Lloyd Doggett, Texas representative (Democrat): ++soundbite starts on previous shot++\u003cbr/\u003e\"Like the Iraq war and the Patriot Act, this bill is fuelled by fear and hinges on haste, so much is missing.\"\u003cbr/\u003e9. Interior of US House of Representatives, Oregan representative Peter Defazio (Democrat) speaking \u003cbr/\u003e10. SOUNDBITE (English) Peter Defazio, Oregan representative (Democrat):\u003cbr/\u003e\"The bottom line: President George Bush and his treasury secretary, Henry Paulson, insisted on a tap down Wall Street bail-out solution. It's sorta like the financial surge strategy and just like the surge in Iraq, as we go into it at the outset we know it's not sustainable and we know it won't solve the underlying problems.\" \u003cbr/\u003e11. Interior of US House of Representatives\u003cbr/\u003eThe fallout from Monday's vote against a bailout package for the United States financial system may well be lasting pain for the economy.\u003cbr/\u003eThe House's stunning defeat of a 700 (b) billion US dollar package urgently championed by President George W. Bush sent shock waves through Capitol Hill, the trading floors on Wall Street and the White House.\u003cbr/\u003eThe fierce debate that took place in the House before the vote gave some indication that bill might not get a clear pass when it came to the vote.\u003cbr/\u003eCongressmen from both the Republican and Democrat parties protested a policy that would help out financial institutions with (b) billions of tax payers dollars.\u003cbr/\u003eJeb Hensarling, a Republican representative from Texas, argued that the package would put the country on the \"slippery slope to socialism\".\u003cbr/\u003eDemocrats used warnings from 400 economists in their argument for the bill to be reconsidered and revised.\u003cbr/\u003eLawmakers eventually defeated the legislation by a 228-205 vote, although Democratic and Republicans leaders and Treasury Secretary Henry Paulson all pledged to keep working for a package acceptable to all sides.\u003cbr/\u003eThe bailout plan was intended to revive jittery and fragile banks on Wall Street and Main Street by buying billions upon billions of their worst mortgage-related assets so that lending, the oxygen of the American economy, would flow freely again.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan 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