One of the most important votes since the Dems have taken control of congress and Nancy Pelosi drives it to defeat, but somehow the Republicans and John McCain are to blame.
She insisted that she wouldn't hold a vote on the bailout legislation until at least 100 Republicans would vote for it also. Why? To give cover to her members who are in tight races where the legislation is impossible. The Republicans hold out for some changes to the bill, but finally come on board while about half of them make it clear they aren't going to vote for it under any circumstances.
How does Nancy repay this goodwill gesture? By standing in front of the House and letting loose with a venom filled speech condemning the people whose help she is asking for, and by releasing her own members from their obligation to vote yes on the bill. Not surprisingly the Republicans said "Screw You" and the bill failed. But it was a bi-partisan failure 40% of the Democrats voted against it also, including Obama's co-campaign chair Jesse Jackson Jr.
The bill failed, the Dow dropped 778 points and we lost a trillion dollars from the economy, because of the way Pelosi handled this, but listening to the news last night you never would have known that. It was all about the Republicans voting against the bill and McCain failing to deliver. Nice to know the press isn't taking sides in this.
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