U.S. CONGRESS SAYS NO TO BAILOUT

(Reuters) - Lawmakers rejected a $700 billion bailout plan for the financial industry in a shock vote that sent global markets sliding as the world credit crisis claimed more banks.

By a vote of 228-to-205 the House of Representatives rejected a compromise plan that would have allowed the Treasury Department to buy up toxic debt from struggling banks.

The plan's defeat sent stocks down sharply, with the Dow Jones industrial average briefly falling more than 700 points, its biggest intraday drop ever.

Shares had already been under pressure following sharp declines in Canadian, Asian and European shares on fears the crisis was spreading. Global money markets remained frozen, even as central banks poured in cash in an attempt to boost liquidity.

U.S President George Bush was set to meet again with his financial team to discuss a 'Plan B' strategy.

PRESIDENT PAUL FLIES BLUE JAYS COOP

Paul Godfrey stepped down as Toronto Blue Jays president and CEO on Monday, bringing to an end months of speculation over his future with the team.  The resignation takes effect at the end of the calendar year.  No replacement was named.

Godfrey has served as president and CEO of the Blue Jays since Sept. 1, 2000, when Rogers Communications purchased the baseball club.

The 69 year-ol revealed he indicated that he might not return for another season to the team's ownership earlier this year.

"There's never a right time to do this sort of thing," Godfrey said. "I do these things by what my gut tells me to do."

Toronto finished the campaign with an 86-76 record and fourth place in the American League East, marking the 15th consecutive season the club failed to qualify for the post-season. The Jays last made the playoffs in 1993, when they won the second of their back-to-back World Series titles.

TONIGHT, LOTS OF TICKETS OUT OF THE STASH!!

Stay locked to THE BEAT tonight if you want to win tickets for...

- BEAT-toberfest Warmup featuring illScarlett (October 2nd at The Wax)

- BEAT-toberfest featuring Kardinal Offishall & K-os with special guests Classified and Elise Estrada (October 15th at The Aud.  19+ event)

- Beat the box office tickets to see BACKSTREET BOYS at Copps Coliseum in Hamilton.  (November 9th)

Good luck!!  We'll talk to you tonight!!
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