UPDATED
Dow Drops 777 points…biggest point drop in history.
Americans lost $1.1 trillion today in the market.
Let me get this straight.
The national economy is suffering, and no one doubts the serious crisis we are experiencing today. Yet when it came time to vote on a compromise financial bailout bill House Republicans say that a mere political speech on the floor by Speaker Pelosi was the reason that they could not produce enough votes to pass the needed measure. In a briefing after the bill was defeated Representative Cantor held up a copy of the printed speech Pelosi delivered and argued that her words made GOP votes for the compromise disappear.
Over the past several days I have noted the lack of leadership and short-sightedness by both political parties in relation to this needed bailout bill. But nothing is as striking or maddening than the shameful display by House Republicans who thought partisan politics was more important than casting a vote to right the economic ship.
Regardless of anything the Speaker said, should not the love of country and placing economic priorities above political ones been the only way to proceed?
Today House Republicans did not think so.
Technorati Tags: Congress, BailOutBill, Conservatives, HouseOfRepresentatives
CAFFEINATED POLITICS 
And now a bit of truth – the votes:
Party Yea Nay NV
Democratic 140 95
Republican 65 133 1
Totals 205 228 1
Since a simple majority was all that was needed to pass the Bill, you can “blame” your Democrats alongside the Republicans. If the Dems had wanted this to pass, it would have passed.
The GOP did not deliver the votes they promised. Period.
In addition, if you had read this post, and the others I have written on this topic, you will know that I smacked the Dems as hard as the GOP for failing to lead on this issue.
Deke you are out of your mind.
Both sides of the aisle split on the matter, only a truly unhinged individual would place all blame on one side or the other.
Jonolan showed you the break-down.
Seriously man your hatred is coulding your ability to make basic decisions.
clouding it even…
Seriouly Fred you need to dig your bald head out of your ass and start to read a bit more than the talking points that your party sends you. Take a look at the goals of the GOP whips and try to grasp the way legislation winds its way through the legislative process. In no way can any blame for the loss of this bill be explained other than to say the GOP defeated it. Be proud…….you and your kind are driving the national economy even deeper into the ditch.
Every day you do it……Obama gains.
All it took was a simple majority to pass the Bill. The Dems defeated it, not the republicans.
133 Republicans and 95 Democrats should be applauded today for being Great Americans.
I really don’t care if they did so for partisan reasons, political survival, or they were against having Americans bail out corporations, either way they did the right thing.
First of all…how the hell do you think this crookery is going to help fix the problem? Your chicken little suggestion is that without spending 1 trillion dollars of taxpayer money to bail out hedge fund cowboys and investment banker crooks…the sky will fall?
Yeah…. Not.
Spending that $700 billion (which, it’s definitely more than that)…will NOT stop the tumbleweed from blowing, my friend- because the people responsible (hedge funders and crooked investment bankers, looking for their next hundred mil) are not being stopped.
Believe this: it’s just a matter of time. These cowboys will go into hiding, and as soon as it’s safe, they’ll ride on out and pillage the next sector they can get their hands on (most likely the grain/corn industry)…
Blame it on whomever you please… But, it doesn’t make it even remotely true…and just proves how little insight you have into the situation.
That bill’s defeat was the BEST thing that could happen to our nation. The market will even itself out WITHOUT further government intervention, thank you very much…
The next task is to close the loopholes that exist for these pirates who pillage our markets.
Deke may be a liberal but he is still correct about how this bill failed as a result of the GOP.
CQ writes today, and the tone was clear.
The startling rejection of the financial rescue proposal was a stunning defeat for the White House and congressional leaders from both parties. It was assured when House Republicans dug in their heels, refusing to support the plan.
House Democratic leaders had long insisted that a majority of both parties would be required to pass the bill, and House Republican leaders proved unable to deliver of their caucus’ majority. Instead GOP members voted against it by a 2-to-1 ratio.
“I believe what’s in the best interest of our country, as I stand here today, is to vote for this bill,” House Minority Leader John Boehner said just minutes before the vote.
Asked what would happen next, Boehner said simply, “I don’t know.”
How can your readers not care about the capital markets? I suspect they are not aware of how the whole system functions. Wait until credit is not made for payrolls, then they might learn.