World Report

$700Bil. Bailout Bill Fails in House

By KHON News


Almost immediately after the $700-billion financial bailout bill went down in the House 228-205...with two-thirds of Democrats and about a third of Republicans voting for it House GOP leaders, who supported the measure and said they thought they had the votes this morning said there was a reason why more Republicans didn't vote for it

"I do believe that we could have gotten there today had it not been for this partisan speech that the Speaker gave on the floor of the House," said Rep. JOhn Boehner, House Minority Leader.

He's talking about remarks Democratic Speaker Nancy Pelosi made on the House floor shortly before the vote began.

She blamed the financial crisis on the "failed Bush economic policies."

"For too long this government, eight years, has followed a right-wing ideology of anything goes, no supervision, no discipline," she said.

Republicans say such comments so angered a number of their colleagues...they switched their decision and voted against the bill.

House Democrats have enough of a majority in the House to pass the bill without *any* rRpublican votes, but 95 Democrats voted against it as well.

Speaker Pelosi said Democrats delivered what they promised, but the GOP did not.

"Every step of way..we said we would have half..and they would have half..it had to be bipartisan," she said.

There had been impassioned, even emotional pleas from GOP leaders on the Hill before the vote

So back to the drawing board. The Senate isn't going to vote on the measure because of what happened in the House today.

And there's a calendar issue...the Jewish holiday of Rosh Hashanah begins today at sundown, so many members will be out of town or with their families.

There may be some re-negotiations starting Tuesday, but we're told not to expect much action in either chamber until late Wednesday or Thursday.

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