House Democrats Reject Bailout by Same Margin as GOP

I predicted that the Dims wouldn’t have the stones to do this.

America won today.

holy crap, the dow is falling so freakin fast. this is crazy. i really don’t want the bail out, but everyone is panicked. thank god we have a credit union and not a bank.

Yah, I think Dave is probably right… I see another article that notes
‘Ample no votes came from both the Democratic and Republican sides of the aisle. More than two-thirds of Republicans and 40 percent of Democrats opposed the bill’.
Gonna see how my local Congressman (Dem Mike Doyle) voted once the info is available.

no one wanted this bill to pass. i would have voted against it as well. the problem is what is the alternative and i haven’t seen a good choice from anyone. the credit market is closed so i suspect that things will go down real fast.

but here is what i am thinking. if this is all about mortgages – why don’t we spend the $150 billion and purchase the 10% of the bad mortgages, loan another $60 billion to the banks to open the credit market and the government can work directly with homeowners to help those that can afford to keep their houses stay in them. that would cost far less then the $700 billion they are talking about right now.

and i don’t think its cool for the bush administration to wrap this around the neck of the next president.

Mike,

Your corrected headline is still inaccurate. 40% of Democrats voted against the bill. 67% of Republicans voted against it. That’s not the same margin.

scott, democrats didn’t want the bill which is why it didn’t pass. no one wants it. something may eventually get passed but so far no one has convinced the american people that this is the right path. but the failure does fall on bush and paulson. they presented the american people with a 3-page plan for a complicated issue. that was mistake number 1. mistake number 2 was to present it as america’s last hope. then they continued their bad selling of the program.

and when i say bush wrapping around the next president’s neck, i am referencing the entire mess that is the american economy.

i’m not cool with bailing out these banks. they created fancy financial instruments then leveraged those securities, followed no rules or regulations, created a $516 trillion derivative market and now that the house of cards has fallen, they want the tax payer to bail them out.

yeah… there is blame enough for both parties and we can punish them in november. but my guess is that most will return and we’ll be back here again in about 10 years.

Clearly you’re not very good at math, since it’s obvious that the percentage of GOP who voted against the bill was significantly higher than the percentage of dems who did.