Congress Rejects Economic Stabilization Act -- GOP Blames Pelosi's Speech

Shortly after 2 PM EST, the US House of Representatives failed to pass the Emergency Economic Stabilization Act of 2008 (aka the $700 billion bailout ) by a vote of:

• YEAs=205,
• NAYs=228,
• NV=1

As a result the Dow has recorded an historical one day loss of 777 points

House Republicans are stating that many of them changed their minds from Yea to Nay because of a speech that Speaker Nancy Pelosi delivered on the floor moments before the vote.

Give me a break. Is this adult behavior?


The Emergency Economic Stabilization Act is 2008 is a substitute amendment for HR 3997 -- an old bil entitled the Defenders of Freedom Tax Relief Act of 2007 which has already passed the the House and Senate


You can see a precise breakdown of the vote on GovTrack.us:

http://www.govtrack.us/congress/vote.xpd?vote=h2008-674

To read the full text of the Economic Stabilization Act go to PublicMarkup.org:

http://publicmarkup.org/bill/emergency-economic-stabilization-act-2008/