Microsoft has released a press statement urging Congress to reconsider its bailout decision, saying government action is "vitally important."
Brad Smith, Senior Vice President and General Counsel released the following statement:
"Microsoft strongly urges members of the U.S. House of Representatives to reconsider and to support legislation that will re-instil confidence and stability in the financial markets. This legislation is vitally important to the health and preservation of jobs in all sectors of the economy of Washington State and the nation, and we urge Congress to act swiftly."
Microsoft shares fell 8.72% on Monday as Apple plummeted 17.92% on fears of profit margins. The U.S. House of Representatives voted down a $700 billion bailout plan by a vote of 228 to 205. The bailout plan is believed to be required to secure the future and stability of Wall Street.
View: Microsoft PressPass