I can't believe this. Boehner basically broke down on the house floor asking people to vote for it. Pelosi and Hoyer freaked out.

This isn't good at all folks.

BuddyGroom wrote:I guess we need to bring back Denny Hastert to keep the roll call open for 3 hours.

If Denny Hastert was still speaker, this would have never happened.

95 Democrats voted no. Holy shit.

Dem 140-95; GOP 65-133

Total 205-228

One Republican didn't vote.

Market making a comeback of sorts--it was almost down 700, but now it's only down about 500.

Watching the real time dow ticker on cnn is frightening.

So what will happen if they don't approve the 700 billion dollar gift? I'm seriously asking. What's like the worst case scenario for this? A run on the banks, looting, riots, Phils game cancelled, etc..?

jerseyhoya wrote:

BuddyGroom wrote:I guess we need to bring back Denny Hastert to keep the roll call open for 3 hours.

If Denny Hastert was still speaker, this would have never happened.

Umm, I agree. For better or worse, he did exhibit caucus discipline. Sad statement on the leadership qualities of both parties' leaders.

I don't think I can express in words how much I hate populism.

They're holding the vote open. They need 11 votes to switch. They needed 12 and have gotten one. I'm guessing maybe the one GOP who hasn't voted is Boehner.

There's another switch. 207-226. Come on people. Country first and all that. Step up to the plate. Make a grown up vote.

Woody wrote:So what will happen if they don't approve the 700 billion dollar gift? I'm seriously asking. What's like the worst case scenario for this? A run on the banks, looting, riots, Phils game cancelled, etc..?

Heard a good interview on Bill Press's radio show this morning. Strangely, although Press is a liberal, he interviewed the top finance reporter from Fox News/Fox Business channels.

He said one of the real keys here is this money is needed to keep the healthier banks afloat - and to get well-justified loans in all areas flowing again.

I'm far from a financial expert and I have little doubt there were some typical corporate goodies hidden in the bill, but I also have little doubt this bill - or something like it - is very necessary.

Democracy is complicated.

For the members voting no -- are any of them suggesting alternatives?

i'd probably vote against it too. this bill sucked. maybe palin will postpone her debate and fly to washington to fix this.

Woody wrote:For the members voting no -- are any of them suggesting alternatives?

i dont know but the whitehouse is working up a new bill- cnn reporting that.

There's been a lot of talk about using priciples from the S&L bailout to solve this - do any of you economists have a take on that perspective?

They gaveled closed.

To me, the big story isn't that the bail out is getting voted down, it's that it's getting voted on at all, even though the votes obviously weren't there.

I know there was some deal this morning, where the Democrats were supposed to get 150 votes for this thing, and the Republicans would come up with 70.

TenuredVulture wrote:To me, the big story isn't that the bail out is getting voted down, it's that it's getting voted on at all, even though the votes obviously weren't there.

I know there was some deal this morning, where the Democrats were supposed to get 150 votes for this thing, and the Republicans would come up with 70.

Dems ended up getting 140. GOP 65. Both didn't live up to their numbers.

I am in shock here. How can something supported by leadership on both sides and the White House fail?

All in favor of the amended Springfield/pervert bill?

jerseyhoya wrote:

TenuredVulture wrote:To me, the big story isn't that the bail out is getting voted down, it's that it's getting voted on at all, even though the votes obviously weren't there.

I know there was some deal this morning, where the Democrats were supposed to get 150 votes for this thing, and the Republicans would come up with 70.

Dems ended up getting 140. GOP 65. Both didn't live up to their numbers.

I am in shock here. How can something supported by leadership on both sides and the White House fail?

Lack of party discipline.

Or, let me put it this way--what can leadership do to those who were supposed to vote for this thing but didn't? That's right. Not a goddamned thing. Most of these guys are going to run virtually unopposed.

Frank is blaming the GOP. Putnam is blaming Pelosi.

What you really need to do, folks, is have a joint press conference and reiterate your intentions to get things done. Stop throwing grenades. Jackasses.