The Bail Out Bill Has Failed

UPDATE #3 Pelosi has made her statement that this had been a wholely bipartisan effort. Barney Frank said he was incredulous that ‘people could get their feelings hurt so they hurt the country instead.”

Everyone is making the point that each member of leadership made a commitment to deliver a certain number of points. The Democrats delivered more than they promised. The Republicans couldn’t deliver their votes. Chuck Todd, the political analyst, points out that anyone with a tight race voted against this bill including Mark Udall of New Mexico running for the Senate.

He earlier, though, made the point that of the 12 votes that apparently changed this morning on the Republican side only 5 were in tight races.

It’s a weird changing situation. Last Dow I saw was down 665 points. Has been down 715.  It keeps President about to make a statement. They are not going get another vote today as a result of the Jewish Holiday.  This is my last update. It’s just too volitile a continuing story.

UPDATE #2 Final vote 205-288. Republicans squarely blaming Pelosi even though they simply couldn’t deliver their own votes, as promised.

Pelosi now saying that each side had promised to deliver at least one half of their votes and the Republicans didn’t deliver. She’s now going through the consequences on Main Street by the failure of the vote and the need to get something done.  She’s saying that to the Secretary of Treasury that ‘we delivered on our side.” She’s still offering a bi-partisan effort. She mentioned that the Dem’s delivered 60% of the conference.

It isn’t over.

UPDATE: A majority of Democrats were delivered as promised. Republicans couldn’t deliver their votes. Matthews points out that Republican leadership couldn’t deliver their votes when they pounded the table and demanded the votes. Everyone talking about the Pelosi speech. Matthews pointing out that Republicans could be acting in opposition. Did McCain want this to fail at least once? [personally: not likely he’s that smart.]  Will this backfire on McCain?

Democrats 134 votes  more than half of the caucus. All along Pelosi was counting on half of each conference. The Republicans didn’t deliver their half. Matthews continues to hammer that when leadership on the floor of either party promises a certain number of votes they DELIVER. He doesn’t understand, being a former House operative, how they didn’t. Repubicans only deliver a little over 1/3rd of their conference.

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The Bail Out Bill has failed by a significant margin. It was taken off the floor before the vote would have ended. 94 Democrats had voted to OPPOSE the bill. Our own party has been part of the problem.

Barney Frank said that they will watch the impact on the markets before proceeding. I’m watching MSNBC so I could be getting a few words wrong. The DOW has been down nearly 700 points and is very erratic. As I write it’s on the way down again then bouncing back. Currently it’s at a down day of -485 points.

Barney Frank, ” The Republicans killed the House Bail Out Bill.” That may or may not be true if 94 Democrats voted no as well. This was going to be one helluva close vote.

Candadian Markets down 800+ points. Mexico down as well. Shit. Apparently Pelosi gave a speech during the debate that was perceived as highly partisan. I don’t know the content. But even the TV commentators were surpized at the ‘partisan’ nature of the speech.

I don’t KNOW that it was partisan. I’m just reporting what’s being said.

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