Wall street bailout plan defeated in the House.

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Originally Posted by Skybird

40% of Democrats voted against, I read yesterday - but two thirds of the Republicans.

On a side-note, this of course is a bad blow to the government as well - to be let down not by the opposition, but by one's own party.

You are correct, but look at why they voted against it. The bill was either hinky enough that 40% of the Democrats did not feel comfortable with it, or maybe the Pelosi speech pissed more people off (even in her party) then they would admit. They needed only 12 more Yes voted to pass the bill. The Democrats could run the whole thing by themselfs, but yet refuse too.
Also, please note, that apparently the VOTERS ( the american public) are against the plan. They literally flooded the Congress guys with mail and phone calls that they do not want the bail out.
Furthermore, Pelosi went through the ranks and allowed people to vote against it because they are up for re-election.
And 12 of Barney Frank people who are on his commity (House Finance Services Commity)voted, with Pelosi's permission, against the bill. The House Finance Service Commity oversees Fanny May and Freddie Mac.

They claim because they want to involve the other party, yet you have people like Pelosi holding an incredible stupid speech right before the vote. The Democrats are a bunch of chicken chits that are to afraid to take the blame if their bail out fails, yet ignore other viable options.
Apperantly there is a plan from the Republicans that would not involve any or just a small amount of tax payer money, but so far the Democrats have refused it.
Taxpayer money is not the solutuon to everything, imho.