Bailout vote: The “Nays” have it

There won’t be any vote in the Senate because the bill has gone down in the House.

Dems – 141 Yes/94 No

Reps – 64 Yes/134 No

So, by a vote of 228 against to 205 for, the bill is dead – at least for today.

As the bill was announced in the House, the stock market cratered. When a recorded vote was required, the stock market went into free fall. When the vote was final, and it was clear that the bill had been defeated, the market rallied to 10,800. As of a few minutes ago it was at 10,717 (a little profit taking).

That should tell you all you need to know about how bad this bill is.

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