I say this is what happens when the people do not trust their President. A party does not trust it’s leader. The Republican party does not trust Senator McCain nor does it trust George Bush. So then why should they vote for a bill that may come back to cost them their jobs?
John McCain was in Ohio today claiming victory for the Bill as it is now and suggesting that he was in the midst of the negotiations “not phoning it in” obviously referring to Barack Obama. Well his party obviously does not trust him and his negotiators and as a result, have voted down on the Bill.
And of course stocks have followed suit and taken a big tumble. Now we shall see who was right. The naysayers or the bailout folks.
By the way Wachovia failed and sold out to Citi Group. A few European Banks are also tanking.
BREAKING NEWS: Stocks plummet as House rejects massive bailout bill