Welcome to The Daily 202! Tell your friends to sign up here. You know how some people breezily predict Official Washington will find a way out of the government-shutdown and debt-limit standoffs because “they always do?” On this day in 2008, the House failed to pass emergency legislation to save the banking system, leading to an eight-percent drop on the markets, what was then the largest in history. They eventually passed it, but nothing in Washington, D.C., should be taken for granted.

Source: Washington Post September 29, 2021 15:45 UTC