I don’t see what this has to do with partisanship at all.
Why, because the Dems say so. What more do you need?
If the republicans had voted for it nearly unanimously, it would have passed while allowing a bunch of dems who were feeling shaky to vote no. It would have taken only a few yeses from dems to get it done if the repubs had voted as a block. Since this is essentially Bush’s bill to fix what many view as Bush’s mess, many dems felt like republicans should have supported it more strongly as cover for some democrats.
Hear comes the Pelosi press conference.
Me either, I see this as an actual example of the PEOPLE getting what they want. And the people are represented by both parties.
Really:dubious:
Please explain… What makes it awesome news?
If you’d been paying attention at all this weekend, you’d know that the House Republicans were planning a major revolt. This was a Republican plan, endorsed by Bush and McCain - they decided it would be better to stick it to Pelosi and Reid than to do what is right for the country. If Reoublicans voted in the same percentages as the Democrats, this would have passed by a mile.
Everybody is blaming everybody, as you’ve no doubt seen by now. The Democrats were split and the Republicans were mostly opposed, and louder in their opposition. Nobody wanted this much and they couldn’t work it out today. Tomorrow, perhaps. The bill failed by about 12 votes, although I don’t know how it would have done in the Senate.
- No. The US government acted very differently, and very stupidly, after the 1929 crash, and did a lot of things that compounded the problem and caused the Depression to last much longer than it needed to. The Smoot-Hawley Tariff - a response to the crash - did far more to create and prolong the Depression than the crash itself. It probably killed more Americans than the Iraq War.
Even if no bailout bill is ever passed, it won’t be that bad. And,
- They’ll come up with a bill soon enough that will get majority support. There’s no huge rush on this; much of the ensuring panic and tearing of hair has been created by politicians and talking heads SAYING the bill needs to pass now, now, now. It doesn’t.
Maybe, but good luck finding any after the next week or so …
So, if I’ve got this straight, if Republicans were like Democrats, then the world would be a better place?
So… In your opinion, standing up for your principles is a ‘snit fit’?
House Republicans didn’t like this because they are the most fiscally conservative bloc in the government, and this all just smacked far too much like a huge government takeover of a large swath of the economy. And they don’t trust the Democrats, who will almost certainly have all three branches of government in January, to not turn this bill into a giant welfare scheme, which they’ve already tried to do.
Democrats largely caused this problem by pushing for all these mortgages in the first place, and for stonewalling repeated attempts by these very Republicans over the years to regulate Fannie and Freddie. And now the Republicans were being asked to not only give the Democrats cover for their screwup, but to basically hand a new Democratic Congress a huge opportunity to expand their power. They think that ultimately this would hurt the country far more than a short, sharp recession followed by some fundamental reform.
I don’t know if they’re right - I think it will be a lot worse than they apparently think it will. But I understand where they are coming from.
:dubious:
If everyone had voted for it, then it would have passed? Well, I’d have to check the math on that one, but I’ll take your word for it.
But the fact is that 1/3 of the Democrats voted against it, too. And the House Republicans have been against this thing since the start, and it wasn’t a secret (except to the head-in-the-sand faction). So yes, the bill failed because a large number of Republicans didn’t vote against it. However, you don’t need a single Republican to vote for a bill for it to pass. So, the bill failed because a large number of Democrats voted against it, too. And yet, “It’s the Republicans’ fault!”
I don’t think pinning the failure of this on one party is the most accurate interpretation, however, the fact that two thirds of the Republican caucus voted against the bailout is surely worthy of comment. Why couldn’t the Republican leadership, which endorsed the bill, deliver only one third of their ranks? That’s a fair question, too.
In coming days, it could take more than 2 weeks for the average American to find a bank that will lend them money to buy a car. That’s not exactly a reason for celebration.
The bill is failing because citizens bitched to their representatives.
If there’s one thing we don’t need it’s another piece of important legislation hastily crammed down our throats. Markets be damned, make sure you get this thing right before you go squander more of our money.
Has anyone seen a transcript of the Pelosi speech?
You need to turn off the talking heads for a while, it is not as bad as you apparently think it is. We may have a recession, well a more pronounced recession but don’t worry we will okay.
I’m surprised but not shocked that this failed to pass in the House. No one likes the idea of a bailout, the price tag is huge at a time when the deficit is already sky-high, and the timing is terrible. I actually think the whole thing has been surprisingly bipartisan, overall. Both parties have been negotiating and giving ground, and the end result has been an improved bill that no one likes but both sides can hold their noses and vote for.
I think this last minute revolt by House Republicans is more about election year politics than anything else, and the bill will pass the next time they vote on it. I think unanimous support by either party is close to impossible – there are always going to be representatives who simply can not vote for this given the sentiments of their districts (which I think is as it should be), but they’ll sway enough to get it through while still saving face for those who switch sides.
This has to be the dumbest talking point of the year. This wasn’t caused by poor black people buying homes - 60% of the bad mortgages were refinances. Poor black people are not the reason I used to get three offers of cheap refi’s in my mailbox every day for years.
It would seem your maths need help. The Republicans voted heavily against, and they are by my maths the majority party in that house, ergo by any ordinary logic it is their prime fault.