US president warns consequences of failure to pass economic rescue package would be "painful and lasting"
US president George W Bush has said the US economy is at a “critical moment” following the failure of Congress to pass a $700bn rescue package.
He added: "We are in an urgent situation and the consequences will grow worse each day if we do not act."
The president warned that the economic damage to the US would be "painful and lasting" if Congress failed to pass a bail-out bill, reports the BBC.
The House of Representatives blocked the deal by 228 votes to 205 on Monday.
The House will not meet until Thursday as many members have returned home for the Jewish holiday.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
