More than enough members of the House had cast votes to defeat the Bush administration-pushed bill, but the vote was held open for a while, apparently as efforts were under way to persuade people to change their vote.
On Wall Street, stocks plummeted as investors followed the developments in Congress."
The Democrats have failed again, living up to the growing "Worst Congress Ever" mantra. Nancy Pelosi and Harry Reid are two of the most pathetic political failures this nation has seen in quite some time. Pelosi had 94 of her colleagues voting against the measure in the House of Representatives. Perhaps this is what the Democrats get for attempting to bloat this measure with insane provisions, such as covering car loans, and trying to funnel money to ACORN last week.
This bill was a leech. The Democrats kept trying to fill their bowls with money for ACORN, car loans, other junk motions, and the "Purpose" provision in the bill read as "ensuring the economic well-being for all Americans" (paraphrase); A.K.A, socialism. It also encouraged the exact same sort of habitual lending practices that got us here in the first place. The Democrats were never the solution, and they have ALWAYS been the problem. Their bill failed. They are failures, and hopefully the American people will now see it.
It is time for John McCain to come out with his six-shooter. No holds barred, no fear, suppressive fire. He must, in meticulous fashion, explain to the American people who was responsible for this bloody mess. He must lay out how Barney Frank, Jamie Gorelick, and others caused this economic bloodshed through their bed sharing with Fannie Mae and Freddie Mac, and their forcing of banks to lend to those unqualified. Enough with the populist, "greed on the street" argument. Get to the crux of the situation. Time is of the essence.
And there isn't much left.