Monday, September 29, 2008

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

To read the full text of the Economic Stabilization Act go to

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