Uploaded by tipsgurunow1 on Oct 25, 2008
http://www.Joinfreenow.info Robert Nichols (310) 601-8430 ------------------------------------------------ Democrats and Republicans on Capitol Hill immediately blamed each other for the failure of a $700 billion bailout package in the House on Monday. Republican leaders speak to reporters on Monday after the bailout bill failed to pass. House Minority Leader John Boehner, R-Ohio, said there would be no revote Monday on the bill aimed at buying up bad mortgages and stabilizing the faltering economy because House members had left the Capitol. It was unclear in what form the congressional leadership would bring the bill back to the House floor. The stock market immediately dipped hundreds of points after it became apparent that the bill would fail. The Dow closed down 777 points at the end of trading Monday, a record plunge. Watch blocked bailout win or loss? ยป The package, which was backed by both the Democratic and Republican congressional leadership as well as President Bush, failed in the House by a vote of 228-205. See roll call of how House members voted (PDF) "My sense is that this exact same bill couldn't pass," said Missouri Rep. Roy Blunt, the No. 2 Republican in the House. "But this bill could be the basis for final congressional action. They'd have to expect some changes." Don't Miss CNN/Money: Dow takes record fall after bailout fails 'Breakthrough' reached on bailout deal Senate passes $600 billion spending bill Nearly 60 percent of Democrats voted for the bill, and about a third of Republicans supported it. House Republican leaders blamed Nancy Pelosi, the Democratic Speaker of the House, for the bill's failure, saying she had scuttled a bipartisan compromise with a "partisan speech" shortly before the vote. Pelosi started her speech by citing "the Bush administration's failed economic policies -- policies built on budgetary recklessness, on an anything-goes mentality with no regulation, n
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