Bush disappointed House balks at bailout

WASHINGTON, Sept. 29 (UPI) -- President George Bush expressed disappointment Monday after the House failed to approve the $700 billion plan to bail out the U.S. financial markets.

"I was disappointed in the vote with the U.S. Congress on the economic rescue plan," Bush said during a joint media opportunity with the Ukranian president. "We put forth a plan that was big because we got a big problem."

The bipartisan plan meant to address the root of the financial crisis -- home mortgage-related assets that have lost value during the housing decline -- failed on a 205-228 vote, falling 13 votes shy of the 218 needed for passage.

Bush said he would be talking with his economic advisers and his administration would work with congressional leaders on the plan to stabilize U.S. financial systems.

"Our strategy is to continue to address this economic situation head-on," Bush said. "And we'll be working to develop a strategy that will enable us to continue to move forward."