The house rejected the $700 billion bailout by just 23 votes. Republicans said no to the vote at a 2-1 ration, with 100 democrats joining them.With a month and a half to election day, its no suprise that republicans did not want their name on a bailout plan that would have been the single largest bailout in government history. House Minority Leader John A. Boehner (R-Ohio), a major proponent of the bill, urged the public and financial markets to "calm down" because there is no obvious "path forward." Not exactly words of comfort for a nation in the middle of economic uncertainty.David Rogers of Politco Writes:
Calm was nowhere to be found on Wall Street or on Capitol Hall. The Dow Jones Industrials Average was down more than 600 points at one point, and the House chamber turned into a scene of chaos and confusion after a tumultuous and emotional vote.
It appeared that politics were ever present during this vote, apparently politicians are unable to put aside political ambitions in a time of public nee.
Rogers continues:
“We delivered our votes,” Rep. Rahm Emanuel (D-Ill.) said.
"I guess the Republican leadership is so weak John Boehner couldn't deliver 50 percent of the votes,” sneered Rep. David Obey (D-Wis.) “I thought these were big boys."
Republicans said Pelosi may have lost votes with a floor speech they considered too partisan. "We could have gotten it if it were not for this partisan speech that Speaker Pelosi gave,” Boehner said.
Added Rep. Chris Shays, a Connecticut Republican who also voted for the bill: “Nancy blew it.”
"That is an absurd accusation at a time when our country is in deep economic distress," a Pelosi spokesman fired back."You don't vote on a speech, you vote on a bill."
UPDATE: DOW falls over 700 points
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