House Defeats Government Bailout Program

Stunning.

From the AP via ArkansasBusiness.com:

The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

More developing here. Vote was 228 to 205.

More

The roll call [House.gov]

Dems to try again [Reuters]

Arkansas delegation reacts [ArkansasBusiness.com]

Let the finger pointing begin [Politico]

On CNBC: Boehner blames Pelosi’s “partisan” speech before vote

McCain blames Obama, Dem leadership [Politico]

Bush disappointed [AP]

Google tracks the plunge

Google tracks the plunge

Video: Pelosi’s speech [Breitbart.tv]

Stocks plunge [AP via ArkansasBusiness.com]

Obama: ‘Sit tight,’ ‘Don’t panic’ [Doug Krile via Twitter]

… forced to alter speech after vote fails [Politico]

Time has run out [Steve Harrelson, Under the Dome]

All four Arkansas members of the House vote ‘yea’ [Arkansas Times]

Paulson to use all power to protect markets after vote [AP]

House.gov overwhelmed as people seek info on bailout vote [AP]

Republican: The people rejected this bailout, and now so has Congress [Providence Business News]

Pelosi’s NSFW floor speech! [Ana Marie Cox via Twitter]

Joe Klein: Time for a cool head [Time]

The bailout nobody likes [Time]

What now? [The Big Money via Slate]

Don’t blame Pelosi [Slate]

Related

MSNBC interactive chart: How the crisis unfolded

Is my money safe? Questions to ask [New York Times]

After the jump, Drudge’s and Huffington Post’s calm, measured coverage. Also: video of that Pelosi speech.

Drudge lends perspective

Drudge lends perspective

HuffPo's measured response

HuffPo

And now, Nancy Pelosi’s speech before the vote:

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3 Responses

  1. Massive FAIL for Pelosi. I mean, conservatives were never going to embrace this thing, but how the hell does Pelosi fail to reign in her people?

    Oh well, I’m buying 3 shotguns, a year’s supply of beef jerky and Powerade, and holing up until summer ’09.

  2. The disconnect remains – the reason the bill failed is the that the majority of US citizens hate the idea of bailing out Wall Street. The congressmen realize that the people will vote them out if it gets approved. We need to have a means to recall Senators to get them to reflect what the people want!

  3. True. And now that this horrendous bill has crashed and burned, maybe a new version will be much more palatable. And in line with non-socialist governing.
    And if the dumb asses on the hill can’t get it together? So be it.

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