Breaking: Bailout bill fails, Dow roller-coasters; Update: Pelosi speech added
posted at 2:00 pm on September 29, 2008 by Ed Morrissey
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This has to be considered a shocker. The bailout bill failed in the House, and it wasn’t especially close. The final tally was 207-226, with Democrats supporting it 141-94, while Republicans opposed it 66-132.
How did the markets react? Initially, with panic. Dow dropped from around a -290 to more like a -660, but then recovered within minutes to a -400. Within a few minutes after that, it rose a little further to about -360, a 300-point gain, but it continued to go up and down, and probably will all day long.
What does this mean? The Senate can always initiate their own version of the plan and re-send it to the House, but that will take some doing. Can Republicans change their votes after taking this kind of stand?
If it stands, it will be a repudiation of the leadership in both House caucuses and the Bush administration. Pelosi couldn’t hold her caucus together, and Boehner, Cantor, Blunt, and Putnam will find themselves in the minority of theirs.
Update: I guess this puts lie to the notion that an agreement existed before John McCain went back to Washington. They got more Republicans today than they had last Wednesday, and it still didn’t pass.
Update II: Here’s the speech that probably killed the agreement. Pelosi blamed the collapse on George Bush and a lack of regulation, and called Republicans hypocrites for cheering free-market principles.
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I wouldn’t worry… the non-partisans understand numbers and they can count….
CapedConservative on September 29, 2008 at 3:59 PM
Unless they’re retiring, they all are.
AZCoyote on September 29, 2008 at 3:59 PM
Interesting.. so Texas is the ONLY State that has refineries?
Look again at the States who also have refineries and see thay have raised prodution 5%. They aren’t donw at all and are running almost all day until the Texas ones come back on line.
upinak on September 29, 2008 at 4:00 PM
She knew they weren’t going to get the votes, so she was just throwing out her last taunt before the bully chased her back under her rock.
oakpack on September 29, 2008 at 4:00 PM
Also noticed both Sanchez’s voted no.
I would guess anyone in a potential close election would vote no, the safe vote.
right2bright on September 29, 2008 at 4:01 PM
Michael Barone: “Barack Obama and other Democrats have used the financial crisis to spin a narrative. The problem, they say, is deregulation and greed. This is not strictly speaking accurate. Obama and the Democrats opposed tighter regulation of the mortgage giants Fannie Mae and Freddie Mac, and John McCain supported it. Unregulated firms like hedge funds have done well, while heavily regulated banks have had troubles.
But the narrative will be advanced by the Obama-loving media … and by the passage of a giant financial bailout — er, rescue package. The likelihood, as this is written, is that Obama will be elected president and the Democrats will expand their congressional majorities. Possibly even to the 60 votes they need to effectively control the Senate.
In that case, Democrats might be able to move toward nationalized health care finance. Their card-check bill will promote unionization and do to much of the private sector what union contracts have done to the Detroit Three automakers. Higher taxes and overregulation could reduce economic vitality and creativity. Comparable worth laws could have bureaucrats setting private sector salaries. America could move some distance to becoming another France.”
KentAllard on September 29, 2008 at 4:02 PM
They have moved refining to other plants. Crude futures run roughly a quarter to six months out, and no refinery will be without power that long. The refining issue is best described as a reduction in supply of gasoline.
Vashta.Nerada on September 29, 2008 at 4:02 PM
That might offset some of it, but there is a shortage in the south east, and our refining capacity is stretched as it is. Now, I don’t know if it is enough to account for everything, but the direction of the effect is lower demand for crude.
Count to 10 on September 29, 2008 at 4:03 PM
Isn’t that like having a hole in the canoe, so you make another so you have two holes, one for the water to come in and the other for the water to go out…
right2bright on September 29, 2008 at 4:03 PM
As well as diesel, fuel oil, and the makings of plastic… which everyone else forgets is the main refining for many refineries at this moment. 25% of refineries only do fule.. the rest is byproducts of oil.
upinak on September 29, 2008 at 4:04 PM
deflationary depression accounts for the overwhelming share of the plunge in commodities.
phronesis on September 29, 2008 at 4:06 PM
No, you want to buy low and sell high. If you are mid-career, you are by definition buying. If the market (or your specific stocks or funds) falls 10% and slowly makes it back, all the while you are buying at a lower cost than you were earlier this year. With no correction, your price to buy would have been higher.
Vashta.Nerada on September 29, 2008 at 4:07 PM
Refineries working at 85% is stretched? This was before the TX shut down.
Research … Washington, Oregon, California are all working at 92% right now. The East coast (KY, MS and Alabama) who usually work at 80% is now at around 89% going up to 94% this week for the Thanksgiving holiday.
Interesting how that works huh!
upinak on September 29, 2008 at 4:07 PM
I imagine that this matches up with the delivery delay to some extent. The power outage is causing a back log, so it is in the future that they won’t need more oil.
Count to 10 on September 29, 2008 at 4:07 PM
Interesting how HALF of the black caucus voted against the bailout – including Conyers, Jesse Jackson Jr., Shelia Jackson Lee, Kilpatrick, and William Jefferson (Democrat, LA).
jbarkley on September 29, 2008 at 4:08 PM
True, though the complaint in the southeast right now is lack of gasoline. They could have avoided this if they would allow refining in their region. Today, the Colonial pipline is the only non-truck fuel transport to the region (they didn’t even want more pipelines).
Vashta.Nerada on September 29, 2008 at 4:08 PM
Rumor has it if they put the ACORN slush fund back, the Black/Hispanic caucus votes for it and it passes. I don’t know if those numbers work out but it might.
Cindy Munford on September 29, 2008 at 4:09 PM
Where do you live? Most power is ran off Coal and Natural Gas for electricity. Most of Texas is ran off Coal. So if you are having issue with power aka electricity… maybe the simple fact that coal when wet doesn’t work well in hot bed’s.. and do bursts when heating up.
upinak on September 29, 2008 at 4:09 PM
There is a huge worldwide demand for dollars at the moment with lending frozen and credit unavailable and people fleeing to Treasuries. The dollar rises with such demand against other currencies. This lowers the price of oil in dollar terms. It’s hard to know whether the reduction in the price of oil is demand based, or is simply reflecting the dollars gain.
Once the credit squeeze ends, one way or another, it’s an open question what happens to the dollar’s value, and the related cost of a gallon of oil.
JiangxiDad on September 29, 2008 at 4:10 PM
Count to 10 on September 29, 2008 at 4:07 PM
And BTW if you ran Electricity off oil here in America, we would have smoke stack huffing black smoke and making the enviro nuts insane. We don’t burn crude.
yeah, and people want Alaska gas and wonder why Alaskans give them the middle finger and tell them to drop dead.
upinak on September 29, 2008 at 4:11 PM
Maybe they were listening to the flood of calls from their constituents? I would rather see a depression of epic proportions than a continuation of socialist govt.
No pain no gain.
I’m willing to put up with a lot of pain to remain free.
Badger40 on September 29, 2008 at 4:11 PM
ACORN slush $ wasn’t included :)
JiangxiDad on September 29, 2008 at 4:12 PM
Don’t worry. You shall see both.
phronesis on September 29, 2008 at 4:12 PM
Rest assured that today we have seen a complete political and economic meltdown in the US. The Republican Party, for all purposes, will be defunct for several years. That image of these fools coming out of the House and whining about Pelosi will mean one-party Democratic government for a LONG time.
It’s also the collapse of the soundbite-based and extremely partisan political system people have complaining about for a long time. It was the Republicans who made the fatal mistake, and they will pay for it.
It’s a true shame, because John McCain doesn’t deserve this.
Baphomet on September 29, 2008 at 4:12 PM
Texas is lignite, natural gas and nuclear. Well, some wind as well now, but not much. The power outage is just hurricane Ike – 99% of electrical grid from Port O’Connor to Lufkin knocked out. 94% back online now.
Vashta.Nerada on September 29, 2008 at 4:12 PM
I’m proud of any member of the House, R or D, who voted against this bill.
Freedom is tough, free markets are rough, and free markets recover faster than markets with the heavy hand of government on them.
Our troops in Iraq and Afghanistan have suffered much over the last 5 -6 years. If our 401Ks drop for five or six years in defense of economic freedom, I’m willing to bear that burden.
Sheerq on September 29, 2008 at 4:13 PM
I’m just working with things I’ve picked up, so I could be wrong. However, it was my understanding that refining capacity has been pushed to the limit, and we are even out-sourcing some of it. Its possible that 100% is not something really reachable (like moving at 100% of the speed of light), or that anything above 85% can’t be maintained. I don’t know.
Count to 10 on September 29, 2008 at 4:13 PM
Yep. But as least Michelle Malkin has her ideological purity.
phronesis on September 29, 2008 at 4:14 PM
I think that’s the list that didn’t get “their cut” from Fannie…
CC
CapedConservative on September 29, 2008 at 4:14 PM
Is there a real time website where we can see how each representative voted on this?
thareb on September 29, 2008 at 4:14 PM
You haven’t enjoyed the wonders of my home state NY. In my area, we use only the finest. After all, the swells live here. In this case, our electric utility burns extra pure virgin heating oil.
JiangxiDad on September 29, 2008 at 4:14 PM
I am not so proud of the ones who voted against it because it provided insufficient graft to them and the people that finance their campaigns (Acorn).
Count to 10 on September 29, 2008 at 4:15 PM
Vash I know what it is in Texas (TX BF who owns land and gas wells and quite a few oil/gas friends who also work in the industry with me) as I know about CO, WA, OR and parts of Cali. If TX would bury the main lines you wouldn’t have to worry about the lines so much.
I think it is funny when someone tells me about lignite when I mention it often… I wish someone would show me what it looks like as I live by an old mine and pick it up all the time.
upinak on September 29, 2008 at 4:15 PM
The forest has to burn in order to regrow stronger.
If everyone stops trying to put on a dog and pony show and starts taking decisive and well founded action, we could come out of this well.
Damiano on September 29, 2008 at 4:15 PM
Sorry. Didn’t see your answer before I commented. And we both said “slush fund”. Amazing.
JiangxiDad on September 29, 2008 at 4:17 PM
Count I and quite a few others work in the Oil industry. We aren’t going to spew crap for the hell of it.
Fuel oil and Diesel are the reasons why NY pays so high and they constantly complain about the price. I don’t get it and why don’t they get a electric coal facility up and running is beyond me.
upinak on September 29, 2008 at 4:17 PM
So the theory is that she turns around, re-injects the ACORN and other pork into it and all the Dems pass it without the Republican votes???
We’re back where we were last week, when it wouldn’t get passed because the Dems didn’t want to take ownership of the bill.
Kai on September 29, 2008 at 4:18 PM
live by the maverick, die by the maverick. he has never been a party leader for the simple fact the party has never been able to depend on him. if this loses the election for him so be it. the GOP needs to explain to the voters how this is bad. how it would only hurt in the long run. letting more socialism into the economy will only retard growth in the long run. take the hit now and and let it run its course.
chasdal on September 29, 2008 at 4:18 PM
We are talking about burying the lines, but the cost is 9X higher, and nobody wants to pay that. The CEO of Centerpoint has buried lines (and he didn’t lose power more than a couple of hours).
I don’t know how we reconcile clean coal and lignite – I’d rather put up some more nuclear plants, and I’m not an environut.
Vashta.Nerada on September 29, 2008 at 4:18 PM
I smell a rat as in demorat.
this is sounding like a broadside to screw the deal and blame it on the reps
and of course Mc.
can someone step in and rustle her pettiecoat?
jimmer on September 29, 2008 at 4:19 PM
If it’s such an emergency why did they take time to include a slush fund?
If it’s such an emergency why didn’t they take the time to change the law that caused it?
Just asking.
PattyJ on September 29, 2008 at 4:19 PM
I would love to have a Nuclear facility up here in Alaska.. only problem is that the envrio-twig-chewing-REI-rejects have more lawyers and such … but it has been brought up.
upinak on September 29, 2008 at 4:20 PM
You interpreted that as “Count thinks power plants run on oil”?
I meant it as “refineries run on electricity.”
That would be awful wasteful to burn oil for electricity when we could just as well burn coal and save the gas for cars.
Count to 10 on September 29, 2008 at 4:20 PM
What planet are you on? The reason that so many Democrats voted against this is that they are blue dogs in tough states – and they KNEW they would be in BIG trouble if they voted yes. I think the guys who voted no are the ones who came out of this looking good. As for it being all the Republicans fault . . .94 Dems voted no, that is plenty to pass the bill. Pelosi see to they own party first.
Govgirl on September 29, 2008 at 4:20 PM
Interesting… are foreign banks helping to prop up the dollar so the FED can open the Prime Lending rate spigot, which will then bring the dollar back down to where it was, while adding liquidity to the system?
The Dollar being stronger allows us to pump dollars out, without a disasterous devaluation of the dollar…
Interesting… (as in the Chinese curse of “May you live in interesting times”)
Romeo13 on September 29, 2008 at 4:24 PM
Ace’s take is right on. The markets will continue to plunge, there will be a new bill with acorn and a dozen other bribes to get all the liberals on board, and then it will pass. The GOP hissy fit will ensure far more pork in this bill.
phronesis on September 29, 2008 at 4:24 PM
Right, so because Pelosi called the Republicans names, in the most school house sense of the phrase, they deided to frak over, pretty much the rest of the world. That’s their argument?
PresidenToor on September 29, 2008 at 4:26 PM
America is in serious trouble. How much longer can we continue to be a viable economy/society?
manufacturing…gone
plummeting test scores in math and sciences and general state of education….abysmal
economy in crisis heading towards depression….reality
third world living conditions with murder rate equal to a war zone….fact
two party political system with rampant corruption,career politicians and no chance for third party participation (monopoly of power)
a dumbed down electorate where 50% don’t even know that we are experiencing an economic meltdown
a culture war and general divergence of beliefs so pronounced that we have almost literally split into red state versus blue.
Is anyone talking about hoarding ammunition, collecting non-perishables and having cash on hand yet? I’m about ready to read some of those sites just out of curiosity at this point.
Goodeye_Closed on September 29, 2008 at 4:26 PM
Pretty Much. The GOP deserves its upcoming epic loss.
phronesis on September 29, 2008 at 4:27 PM
One thing to consider about William Jefferson’s vote. Louisiana has an open primary system and he has to be one of the top two finishers or get 50% of the vote that will take place on Saturday- otherwise game over. ACORN is a big player in local activism among that part of Jefferson’s constituency that still supports him. He couldn’t possibly vote for a bill that strips away the millions for ACORN and holds individuals more accountable for foreclosures than the initial plan.
As it stands, he could Jefferson could well make it past the primaries which is why I intend to get the hell out of New Orleans just as soon as I can. The people down here in the city are just too damned to stupid to be tolerated!
highhopes on September 29, 2008 at 4:27 PM
Refineries (depending on location) make their own electricity via natural gas converted in to electrity. Most of the ones in TX are on top of NG wells… so they don’t have the same constrants as other parts of the nation.
Gasoline, especially now, is hard to refine due to taking out all the slufer and introducing other products via what the EPA says must be put in. Diesel use to be easy to refine.. very simple actually, until Congress passed a lower sulfer so the “air is cleaner” which is absurd since most of the country isn’t having issue via deisel! Fuel oil is actually diesel without the new adatives and higher sulfer content. Natural gas can be made into fertilizer pellets by taking out one carbon element.. which is also fairly easy to refine. But it is the plastics that are the largest and hardest to refine from crude due to what types, how, where it is going and what actual issue will it be. Can they use PCB’s or not.
But for your question about burning crude. Western Parts of Iraq, parts of Iran, Pakistan, Afghanistan use pure crude for electricity needs.
upinak on September 29, 2008 at 4:27 PM
So Obama hasn’t committed himself as to where he stands on this bill but he’s on the record as encouraging his party to vote for it. Is that why Pelosi couldn’t rally enough votes in her majority party to pass it without any Repubs? Those Dems who voted against it were not willing to do so without Obama voting with them. Now Obama can be held responsible for its failure, no? But his camp is blaming McCain. Pure projection. Cuckoo’s Nest, much?
NightmareOnKStreet on September 29, 2008 at 4:28 PM
a abseball bat to the head of Nancy Pelosi would do the nation well.
Calm Before the Storm on September 29, 2008 at 4:28 PM
I can’t spell and having a migraine isn’t helping. excuse my typos.
upinak on September 29, 2008 at 4:28 PM
From a purely political standpoint, this would not be a bad option for the Republicans. If the dems load the bill with (additional) pork, Boehner et al can advise all House Republicans to vote against the revised bill… freeing McCain and Palin to run full-tilt on reducing government waste and possibly helping Republicans running for Congress… assuming the country can survive long enough for them to get in and turn things around.
Personally, I am disgusted with how the democrats have played partisan politics with this whole thing.
Y-not on September 29, 2008 at 4:30 PM
The GOP’s epic loss was 2006. This year it will all be about Democrat losses. Two years of control of Congress and there is not one substantive thing that came out of that branch of government, corruption abounds, the economic mess is clearly tied to Democrats. The election isjust 36 days away and the Democrats are sinking fast.
highhopes on September 29, 2008 at 4:31 PM
Me thinks she speaks with a forked tongue!
Pat in NC on September 29, 2008 at 4:34 PM
I can’t see ACORN’s funding restored at this point, the public is wise to this pork and things really are in crisis mode now. Congress screwed around all weekend and produced legislation that wasn’t even close to passage. Now they’ve got to go back and try to get something accomplished by Wednesday. If Pelosi and Reid were working in the people’s interest (big if) they would strip away the pork and pet socialist causes and introduce a bill that sticks to the areas of agreement with the GOP leadership and, then, they would tell their own party to STFU and vote for the compromise bill. Instead we will see two days of partisanship and political posturing (not to mention finger pointing) the bill Congress shows up with on Wednesday will be fundamentally the same bill that was defeated today.
highhopes on September 29, 2008 at 4:35 PM
No it won’t. People will see the “let it burn” policy of the house republicans and turn toward full on socialism. This will prove a phyric victory for Michelle Malkin and the nihilistic dogmatists of the right.
phronesis on September 29, 2008 at 4:35 PM
Pelosi is surely the dumbest person on earth.
At a critical time in our history she is so stupid as to play politics instead of doing what is right for the nation.
The common knowledge is that the democratic party caused this mess with thier socialist agenda and vote buying something for nothing programs. No matter how loud the conservitives in congress tried to warn us the librals used the racist and class warfare cards to get thier laws and programs pushed through and THEN HAD THE GALL TO DEFEND THIER STANCE IN SPITE OF DIRE WARNINGS FROM THE RIGHT.
Pelosi is so stupid that she will stand up in front of the american people and accuse the conservitves for this mess when she knows that people just like her caused it. AND THEN HAS THE NERVE TO BLAME THE PEOPLE SHE NEEDS SUPPORT FROM FOR BEING RESPOSIBLE FOR WHAT HER ILK HAS CAUSED. My goodness how can such a powerful politician be so dumb.
TomLawler on September 29, 2008 at 4:37 PM
What kind of a partisan jerk you must be to look at this situation not see the big picture! If Nancy Pelosi really wants to point out unpatriotic Americans, she need only look to your childish glee that the economy is in turmoil. Like it or not, the right has a say in this issue and they rejected the solution of fools like you. Grow up and advocate a compromise position or STFU. This is the time for adults not petty partisan children who should be seen and not heard right now.
highhopes on September 29, 2008 at 4:39 PM
My childish glee? I’m not happy at all. I have to live and work in this economy. Both the dems and the republicans both their own partisan bickering over the interests of this country and as far as i’m concerned let a pox cover both their houses.
phronesis on September 29, 2008 at 4:43 PM
i was advocating compromise and instead we got ideological purity. You are begining to see the results. But this is just a taste of the things to come.
phronesis on September 29, 2008 at 4:45 PM
phronesis on September 29, 2008 at 4:45 PM
From what I can tell, there was very little compromise on the democrats side. They tried to ram a bill through with very little input from Republicans (until President Bush made them come to the White House), Obama’s camp spun this for political gain throughout the process, and Pelosi, Frank, et al did the same.
Based on the list of who voted “no,” which includes many liberal democrats, this bill did not fail based on the ideological purity of conservative Republicans.
Y-not on September 29, 2008 at 4:50 PM
Both the far left and far right opposed the bill. But a majority of dems voted for it and a majority of reps against it. Who is the public going to blame for decimating their savings and intensifying the credit crisis?
phronesis on September 29, 2008 at 4:54 PM
Well, Lil’ Nancy did say the days of “golden parachutes” were over.
All the House GOP did was enforce her stance by icing the biggest golden parachute of all time…
Note to “Dona” Pelosi: A true leader doesn’t take a dump all over the people she need to pass legislature before the damn vote is taken, ya jackass!
SuperCool on September 29, 2008 at 4:56 PM
The trap door just slammed shut on Nasty Nancy and her merry bands of partisan hacks. The video is out with the dems denying any regulation of Fannie and freddie the lies will be exposed.
McCain can come back in, renegotiate in silence as he has done, and get a bill passed that isn’t loaded up with pork and socialist takeovers of the financial markets. Perhaps some Blue Dog Dems will play along.
There is a better solution than 700 billion to the feds to bailout the failed policies of democrats. The free market could help with a much less infusion of taxpayer cash.
The Dems partisanship and lies are about to bite them in their ample asses!
dhunter on September 29, 2008 at 4:56 PM
McC will eventually call the dems out, but he won’t do it today. They need to figure out SOMETHING that will actually work, and I don’t think he’ll torpedo that, just like you haven’t seen a lot of nastiness from the GOP on this.
Nancy pelousi is disgusting in her partisanship. I actually think she WANTS this to go down to strengthen the dems. It’s insane, but we’re talking about the communist dem party.
techno_barbarian on September 29, 2008 at 5:00 PM
If McCain loses the election, we’ll be a permanent minority, with a filibuster proof donk Senate, resurgence of debilitating union costs imposed on industry, The Fairness Doctrine, national health care, a stripped down military, and the U.N. inserted into our daily lives. If the donks win this one, it’s all over.
a capella on September 29, 2008 at 5:22 PM
How can it be that the speaker of the house cannot get her own party in line on such an important vote? It’s just not credible.
The bill was designed by democrats from a Congress controlled by democrats with a speaker of the house who has demonstrated over and over again her unwillingness to entertain opposition viewpoints (which fits in nicely with the tactics used by the democrats’ presidential canidate, btw). When Senate Republicans started to cave and Bush called McCain and Obama to DC the dems had to make a show of including Republicans, but they did a poor job of it. I think when they fail to invite Republicans to a meeting to discuss the plan, you know how serious the bi-partisan effort was. (Thank you MSNBC and Chris Dodd for your lame attempt to explain that one away.)
Nancy lost any ability to claim she was working across the aisle when she so visibly and totally blew the drilling issue this summer for purely partisan reasons. There was a lot of popular support from regular folks, not just idealogues, over drilling. My guess is that those same folks who supported the House Republicans on drilling will recognize that the gang of democrat ‘leaders’ who refused to consider a real compromise bill on drilling — and who didn’t even bother to invite Republicans to the table on the bailout — are the ones responsible for failure to pass a bill today.
For the good of the country, McCain should stay as above the partisan politics as he can on the bailout until a compromise solution is reached, but… he needs to talk directly to the American people and let them know he has heard them, then show that he has heard them by switching his position on ANWR and unleashing Palin on that topic.
Y-not on September 29, 2008 at 5:23 PM
Oh, I think the way she painted the whole thing…. they knew NOTHING about it… Bush just surprised them.. when everyone knows they have been warned over and over and over again… 2001, 2002, 2003, 2005 about the problem. Watch the videos all over the place. Walking was the right move.
CC
CapedConservative on September 29, 2008 at 5:25 PM
“I don’t know what was so great about the Great Depression but thats the name they give it.” – Nancy Pelosi
What do you mean? It was rollicking good fun. Almost as pleasant as the Great War and and the Great Fire of London! /sarc
Get a clue Nancy.
aengus on September 29, 2008 at 5:25 PM
Will the MSM report the root cause of the problem? ACORN and earmarks? How about Frank, Reid, Obama, Pelosi, Dodd, etc etc etc? Where are the calls for hearings on these crooks? I hope the Anchors in the MSM are losing their shirts/blouses.
marklmail on September 29, 2008 at 5:39 PM
I doubt they are. They, like the politicians, are privy to insider information that will help them protect their investments.
Y-not on September 29, 2008 at 5:41 PM
Pardon me should I repeat someone else, I just got home and watched the Pelosi video.
Either Mrs. Pelosi is a political savant of such magnitude and she has cloaked her brilliance such that she could intentionally threw a hand grenade into the process without detection or she is the most colossally stupid politician to occupy a seat in the House of Representatives. I am quite convinced of the latter.
With a vote of such magnatude hanging in the balance, her distain for George Bush long known to all, her reaching a compromise deal with the White House, her refusal to bring the bill up for a vote without assurance that House republicans were on board, the all night negotiations, all the members of the House catching holy hell from the folks back home…
And she gets up in front of the House and says that?
I will suffer no fool ever again that tries to impress upon me that Sarah Palin is too stupid to be our Vice President.
This example of blind partisan rage that eclipses patriotism and sense of duty is proof positive to me that we have problems in this country that go far beyond the mortgage and credit crisis we are dealing with right now.
Alert Merriam-Webster – next edition of the dictionary needs to have a new photograph for the definition of “Peter Principle”
(turfmann slams on the submit comment button with his mouse, gets up to make himself a great big martini – he freakin’ deserves it. Join in if you’d like)
turfmann on September 29, 2008 at 6:22 PM
we are all going to die!!!!!
Calm Before the Storm on September 29, 2008 at 6:32 PM
Just not any time soon, for most of us.
The Fed and the Treasury will be lending and creating money at an incredible pace, even without the deal.
Betting on deflation is very risky.
Right_of_Attila on September 29, 2008 at 7:56 PM
Again, a commonsense measure isn’t even being mentioned. Repeal the home mortgage interest deduction.
corona on September 29, 2008 at 10:13 PM
Pelosi could have gotten the votes, but she wanted to protect her blue dogs.
HAHAHAHA. The Reps got wind of it from an interview of a Dem on NPR, how they were going to attack the Reps this fall on passing the bills, and pulled their support.
Pelosi can’t even pull off a simple political double cross effectively.
PattyJ on September 29, 2008 at 10:20 PM
I don’t know. Lots of people are either misinformed or willfully ignorant regarding the cause of this situation. Lots and lots of stupid people vote unfortunately.
Yakko77 on September 29, 2008 at 11:12 PM
Nah! I exercise my 2nd Amendment so bring on the Mad Max stuff!!!!
Yakko77 on September 29, 2008 at 11:14 PM
I’ve been riding high and keeping a level head…until today.
This looks like a tactic to me. This was designed to fail. The democrats will get their ACORN money, and more. They will also take credit for saving the country they are in the process of destroying.
McCain came out today FOR THE BAILOUT PLAN. He has turned right back into the guy that none of us liked, and no one wanted to vote for.
Can Sarah save him again? If she can’t make it out of an interview with Katie Couric with her reputation intact, I tend to doubt it.
I’m thinking about becoming a beach bum in Hawaii, while I can still afford the airfare.
Funny how quickly things can change.
Dorvillian on September 30, 2008 at 12:06 AM
After that speech there is now way, if I was a Republican in the House of Representatives I’d vote for squat.
{^_^}
herself on September 30, 2008 at 3:32 AM
Something still smells fishy about the circumstances surrounding the House vote ….
She knew it wouldn’t pass …. 90+ dems voted “nay” …. McCain went bipartisan and called in many more than the original 4 who supported the bill ….
I’m thinking that dems have set McCain up for their pre-announced “October Surprise” — in which Obama will now rush onto the scene and in a flurry of self-elevating verbosity — single-handedly and miraculously rally enough votes to save the federal government, Wall Street, main street America, the Global Economy and planet earth from collapse!!!!!
wow.
Gull on September 30, 2008 at 3:47 AM
I think that neither of you has looked at the vote have you? There were 94 Democrats that voted no. The Democrats control the House and if Pelosi would have held her own side in line the bill would have passed. Do not blame the Republicans for standing on their principles when many of the Democrats voted no because they didn’t get the pork they wanted. That is one heck of a lot more ridiculous reason to kill the bill.
Pelosi screwed this up. Plain and simple.
Hawthorne on September 30, 2008 at 5:16 AM
All the Dems needed was 10 more votes from their own party…which leads me to think it was a ploy to deflect blame to the Republicans and Bush. Plus, it protects those vulnerable Dems up for re-election this cycle and raises Obama’s numbers.
The hypocrisy of the Dems is pretty amazing, especially considering how their party forced the social engineering of the free market (giving unqualified buyers and illegal aliens loans) and whenever questions were raised they shouted down the regulators and opposition…and then to have people who know they are to blame turn it around and blame the people who warned them and tried to avert the disaster….just despicable. These people are the lowest form of scum on the earth.
Geministorm on September 30, 2008 at 8:37 AM
DNC = Do Nothing Congress
New Slogans for Nancy, Harry, Chris and Barney
– More Pork
– Less Ethics
– Its All Bush’s Fault
– Lies You Can Believe In
– Raise Taxes On the Rich
– More Handouts for the Poor in Exchange for Votes
– More Handouts for Minorities in Exchange for Votes
– More Handouts for Illegal Aliens in Exchange for Votes
– The Media is on Our Side
Democrats: We’ll bring this mother down yet!
Geministorm on September 30, 2008 at 8:46 AM
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