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.
Very bad IMHO. Guess we’ll find out if all those folks who don’t want to bail out those rich bastards and ‘loot’ the system are right…
BTW, this bill was a compromise bill with too many of those compromise thingies in it…I’m not surprised it didn’t pass. Neither the Dems nor the Pubs REALLY liked it after all. Not surprised…but disappointed.
Yes, our Representatives actually listened too us. It’s not the end of the world, and if we need a helping hand perhaps we can spend more than a few weeks discussing that large amount of money.
Because for once, the Democrats were smart enough not to get left holding the bag. I predict that you won’t see another bill until it can pass with a large majority of both parties.
There was an interesting article this weekend (AP Story - I can’t seem to locate it now) that talked about how the Democrats and Republicans have flipped positions with regard to party unity and discipline. The Democrats have embraced their candidate and, in fact, gave him a significant role in discussions over the weekend (in spite of his lack of congressional seniority) while the Republicans didn’t extend the same courtesy to their candidate (who was relegated to sitting quietly while the bosses talked).
Does anyone have a break-down on the vote by party? It sounds to me as if both sides of the aisle voted against this. Obviously, party discipline is not as strong in the US as it is in most other countries, but it sounds as if Bush, Pelosi, McCain and Obama all have a disconnect from the people who should be their supporters in Congress on a major issue.
Yep, I couldn’t believe both Obama and McCain backed this bill. Considering a large chunk of the people they actually represent didn’t want anything to do with this bill.
Maybe the bill will be the best thing that they can do, but frankly I don’t think a few weeks with a few “leaders” is enough to decide. The economy wouldn’t have crashed, and hopefully still won’t, if they would have started talking about this when the housing crisis first started. And now they would have a bill more people (the people that they supposedly represent) would feel better about.
It takes more than two weeks for me to decide on buying a car, I think it should take more than two weeks for the government to spend 700 billion.