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Lets vote for the House Republicans if the bail out bill is really defeated – at least some one cared about free market capitalism
House Republicans sided with the people of America. They dumped George Bush and Democrats at the same time. It is a clear come back time for the Republicans in the house and a total shame for both Obama and McCain.
Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 700 points, as the House defeated the financial bailout package. As the vote was shown on TV, stocks plunged and investors fled to the safety of the credit markets, worrying that the financial system would keep sinking under the weight of failed mortgage debt.
The country finally stood up against relentless printing of dollar bills. The Republicans have finally said no welfare to Wall Street.
President Bush, who earlier in the day said he was confident the bill would pass, is "very disappointed" by the House vote, his spokesman Tony Fratto said.
The Treasury Department will work with regulators and "use all the tools at our disposal, as we have over the last several months, to protect our financial markets and our economy," according to a statement a Treasury spokeswoman.
Paulson will be consulting with Bush, Bernanke and congressional leaders on the next steps, the spokeswoman said.
Republican leaders who had pushed their reluctant members for the bill blamed Speaker Nancy Pelosi, D-Calif., saying that her speech during the floor debate drove away about a dozen Republicans they thought they could get to support the measure.
"I do believe we could have gotten there today if it had not been for this partisan speech the speaker gave on the floor of the House," said Boehner.
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