Bailout plan rejected in the House.

[randomness]

Vote was 228-205 against.

Market is way down today.

Comments

the end of civilization is nigh

[ketzl.livejournal.com]

Release the zombies!

[quietann.livejournal.com]

It is not a surprise. Really, the people want to see what *they* will get by having their tax $$$ committed to Wall Street, the same Wall Street that has let many of them down. (My retirement fund is off by about 15% in the last 6 months, and that was *before* AIG...)

I don't want no bailout at all, just a very clear plan with *accountability* for all those involved, and the minimal amount of money committed, plus no "gotcha" phrasing that essentially gives Congress no oversight on the Fed.

Worst. Speaker. Ever.

[fin9901.livejournal.com]

Apparently just before the vote, Speaker Pelosi gave a highly partisan speech, blaming (of course) Bush for everything that is wrong, yadda yadda. This speech had the result of turning about a dozen Republicans from voting for it to voting against it, which was enough to kill it.

Speakers used to as a rule very very rarely speak about legislation on the floor. If Nancy had just kept her trap shut the bailout would have passed the House.

[mangosteen]

This would likely have gone a lot better if Paulson didn't open the bidding with "I want everything, preferably now."

[hawver.livejournal.com]

Horray! It's almost enough to make me tolerate democracy again. Almost.

[(Anonymous)]

Yup, and enjoy your job while you have it. It won't be long. 1929, here we come.

[choirsoftheeye.livejournal.com]

And Wachovia got bought out by Citigroup today!

[silk-roses.livejournal.com]

oh, we were all abuzz, down here in the financial district. ::sigh:: maybe i should polish up my resume, though i have no reason to believe i'm actually in danger of losing my job...