Bailout fails on first vote
Buckle your seatbelts folks. It's going to a rollercoaster ride for a while. The House vote on the bailout surprisingly failed, 228-206 are the latest figures I saw. Reading around the 'tubes, the chatter says the camps are entrenched but they will hold a second vote soon. The basic dynamic seems to be - Yeah we need it, but I'm not going to vote for it; you vote for it. My constituents are too pissed off.
Obama made a statement urging calm and asking the Congress to get it done already. No word yet from McCain at the time of this posting. Marc Ambinder wonders if McCain will accept any blame for the failure, since he was taking a lot of undue credit for its success when it looked like it was going to pass.
Me I'm just waiting for McImpulsive to suspend his campaign again to 'rescue us' and of course he'll need the expert advice of his supremely qualified VP so maybe she won't be able to have that silly little debate after all. Or something like that.
Meanwhile, the Dow immediately tanked 700 points but last I heard it was rising again. No point in getting too excited until the COB to see where it all shakes out. I have to admit I'm surprised the deal didn't hold. Guess we'll find out just how serious this crisis really is after all. Glad I took some cash out of the bank yesterday -- just in case the doomsayers were right.
Update: Un-"effin"-believable. The Republicans are saying they couldn't pass the bill because Pelosi hurt their feelings with a 'partisan' speech. Read it for yourself. This was so egregious they had to torpedo the deal? What bullshit. It's like I said. Everybody wanted to give Wall St their perks but nobody wanted to put their name on it. They're all disgusting, on both sides, for worrying about who gets the bloody credit, instead of really working to find the best solution.
Update 2: I think they're all being ridiculous but you have to love Barney Frank's comeback.
Update 3: Speaking of lame, the official McCain response to the failed vote.
[More posts daily at The Newshoggers and The Detroit News.]
Obama made a statement urging calm and asking the Congress to get it done already. No word yet from McCain at the time of this posting. Marc Ambinder wonders if McCain will accept any blame for the failure, since he was taking a lot of undue credit for its success when it looked like it was going to pass.
Me I'm just waiting for McImpulsive to suspend his campaign again to 'rescue us' and of course he'll need the expert advice of his supremely qualified VP so maybe she won't be able to have that silly little debate after all. Or something like that.
Meanwhile, the Dow immediately tanked 700 points but last I heard it was rising again. No point in getting too excited until the COB to see where it all shakes out. I have to admit I'm surprised the deal didn't hold. Guess we'll find out just how serious this crisis really is after all. Glad I took some cash out of the bank yesterday -- just in case the doomsayers were right.
Update: Un-"effin"-believable. The Republicans are saying they couldn't pass the bill because Pelosi hurt their feelings with a 'partisan' speech. Read it for yourself. This was so egregious they had to torpedo the deal? What bullshit. It's like I said. Everybody wanted to give Wall St their perks but nobody wanted to put their name on it. They're all disgusting, on both sides, for worrying about who gets the bloody credit, instead of really working to find the best solution.
Update 2: I think they're all being ridiculous but you have to love Barney Frank's comeback.
Update 3: Speaking of lame, the official McCain response to the failed vote.
[More posts daily at The Newshoggers and The Detroit News.]
posted by Libby Spencer at 3:57 PM
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