Bailout bill defeat could cause painful recession

The economy has endured hurricanes, soaring fuel and food prices, falling home values and a growing credit crisis. Can it now survive Congress? The House's stunning defeat of a $700 billion package urgently championed by President Bush, sent shock waves through Capitol Hill, the trading floors on Wall Street and the Oval Office on Monday. "An economic 9/11," warned Terry Connelly, dean of Golden Gate University's... [read full story]