BREAKING NEWS: The Bailout Bill is Going Down in the House

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There’s real drama on the House floor right now. The bailout bill is going down. All time has expired, and the vote is 205-228 against passage. the Dow is down about 500 points.

If only we could see the arm twisting that is going on in the back of the House Chamber…


At 1:57 PM EDT: It’s 207-226 against. At the moment the breakdown goes like this: 141 Democrats voting for; 94 against; 66 Republicans for; 132 against. Only one member not voting.

That means they have to switch 11 votes. A very tall order.

At 2:07PM EDT: The bill went down 205-228. Not even close.

Questions: What next? Will Congress adjourn or stay here and work on a new deal? And what could that deal possibly include that would make it saleable to the rank and file? The Dow is now down almost 600 points.