http://qui.live.mediaspanonlinen.com/rss/ Quincy Herald Whig en-us By THE ASSOCIATED PRESS and HERALD-WHIG STAFF WASHINGTON -- In a vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and leaders of both parties that the economy could nosedive without it. The bailout failed 228-205 with about two-thirds of Republicans and 40 percent of Democrats voting against it. Among area House members Rep. Ray LaHood, R-Peoria and Rep. Phil Hare, D-Rock Island, voted for the bailout. Rep. Kenny Hulshof, R-Columbia, voted against it.“The financial crisis we face is bigger than a few failing banks or a stock market in disarray,” Hare said after the vote.“Now it is imperative that we go back to the drawing board and craft new bipartisan legislation that protects Main Street from Wall Street.”Hulshof said he could not support the proposal because of the large price tax and the lack of other controls on market practices that led to the current problems. Republicans and Democrats agreed to keep working on a new proposal. The House will be in session Thursday, irking members who wanted to return home for re-election campaigns.Stocks plummeted on Wall Street, beginning their plunge even before th vote to reject the bill was officially announced on the House floor. The Dow Jones industrials sank nearly 700 points for the day. http://qui.live.mediaspanonline.com/new_story/BC-FinancialMeltdown-09-29-1093