The stock market crashes with the Dow Jones dropping a then record 778 points after the United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession.
The United States House of Representatives is a chamber of the bicameral United States Congress; it is the lower house, with the United States Senate being the upper house. Together, the House and Senate have the authority under Article One of the Constitution of the United States in enumerated matters to pass or defeat federal legislation, known as bills.
Those that are also passed by the Senate are sent to the president for signature or veto. The House's exclusive powers include initiating all revenue bills, impeaching federal officers, and electing the president if no candidate receives a majority of votes in the Electoral College.
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Sources and further reading: Wikipedia — United States House of Representatives, Stock market crash, Dow Jones Industrial Average, Emergency Economic Stabilization Act of 2008 (CC BY-SA). Images: Wikimedia Commons.
