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Page last updated at 22:20 GMT, Monday, 29 September 2008 23:20 UK

In quotes: Reaction to vote

The US House of Representatives has rejected a $700bn bail-out bill designed to help the American economy through the financial crisis. Political reaction has been swift in coming.

US PRESIDENT GEORGE W BUSH

We put forth a plan that was big because we've got a big problem. Our strategy is to continue to address this economic situation head-on and we'll be working to develop a strategy that will enable us to continue to move forward.

US TREASURY SECRETARY, HENRY PAULSON

We've got much work to do and this is much too important to simply let fail. We need to work as quickly as possible. We have significant tools in our tool-kit but they're not sufficient - and so we're going to continue to work with what we have until we get from Congress what we need.

DEMOCRATIC PRESIDENTIAL CANDIDATE, BARACK OBAMA

Democrats, Republicans - step up to the plate. Get it done - and understand that even as you get it done to stabilise the markets, we have more work to do to make sure that 'main street' is getting the same kind of help as Wall Street is getting. We cannot forget who this is for. This is for the American people. This shouldn't be for a few insiders.

REPUBLICAN PRESIDENTIAL CANDIDATE, JOHN McCAIN

I call on Congress to get back, obviously, immediately to address this crisis. Now is not the time to fix the blame, it's time to fix the problem.

BRITISH PRIME MINISTER, GORDON BROWN
The vote in America is very disappointing. (We have) sent a message to the White House about the importance that we attach to taking decisive action.

SPEAKER OF HOUSE OF REPRESENTATIVES, NANCY PELOSI

I just spoke with Secretary Paulson. I said: "Mr Secretary, we delivered on our side of the bargain, you impressed our members and the president impressed the members about the gravity of the situation. That action was necessary to stabilise the markets and to protect the taxpayer. Clearly that message has not been received yet by the Republican caucus but again we extend a hand of co-operation."

REPUBLICAN REPRESENTATIVE, JEB HENSARLING
You were being asked to choose between financial meltdown on the one hand and taxpayer bankruptcy and the road to socialism on the other and you were told do it in 24 hours.

CHAIR OF HOUSE FINANCIAL SERVICES COMMITTEE, BARNEY FRANK

I would like nothing better than to be proven wrong in the next couple of days. I was persuaded... that we are threatened with a shutdown of the credit system that will inflict great pain on the people of this country at a time when the economy is already weakened.

US HOUSE REPUBLICAN LEADER, JOHN BOEHNER

At the end of the day this is not about the Democrats or Republicans - it's about our economy and what's best for the American people. And regardless of what happened today we've no choice in my view but to work together to try to find a solution to make sure that we save our economy and we save our constituents.





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