Link: Lawmakers quickly point fingers after bailout fails - CNN.com.
It boggles the mind, to hear the post-mortems on the near-catestrophic failure of a bank bailout plan in the US House of Representatives today (on the eve of the day that people may start a quarterly exodus from hedge funds, Sept 30).
By far, the MOST boggling aspect of this historic 228-205 vote where Republicans voted against the measure 2-1, against their leadership (and their lamest of lame duck presidents), is the DUMB ASS explanation/rationalization given below (I had to highlight it in bold, because it is SO frakking dumb).
I mean, if they want to make up excuses, couldn't they even make up a real excuse, like the fact that they are prepared to sacrifice the national economy for their own pathetic re-elections? If the country basically disappears into bread lines, what exactly are you being re-elected to govern, anyway? A sad empty shell?
But no, they weigh in essentially thus: "Nancy Pelosi gave a speech we didn't like right before the vote, and it hurt our scorched-earth Republican feelings because it didn't honor our non-reality-based Bushie-constructed delusional universe the way the cable news commentators always do." (I'm paraphrasing)
So in a fit of pique over a SPEECH, the GOP bailed on the country?!
Hey, I didn't vote for these dingle-dorfs. Seems to me that sacrificing the national economy because the House Majority Leader reminded you that you drove the country down the toilet in eight years of corrupt GOP rule will go down in history as one of THE most remarkably childish excuses ever given outside of a day care center.
And they think giving that reason for a vote will help them get re-elected? Only in talk radio-land, I suppose.
Like I said, it boggles the mind. Except that it brings into my memory Rep. Newt Gingrich's hold-my-breath-till-I-turn-blue standoff with then-President Clinton. Gringrich was the first scorched-earth Republican to make a major push on the old scorched-earth tactics, before Rep. Tom DeLay cornered K Street and turned it into an art form.
Problem is, you can only scorch the earth so many times before you reach the point where you have little left to scorch, especially if the entire national economy goes in the toilet, following the decimation of the national military and National Guard, the Constitution, the Justice Dept, the CIA, oh the list just goes on and on. Then where does that leave you?
Link: Lawmakers quickly point fingers after bailout fails - CNN.com.
Lawmakers quickly point fingers after bailout fails
WASHINGTON (CNN) -- 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 on the bill on Monday because 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.
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.
A majority of Democrats voted for the bill. A majority of Republicans voted against it. The Republican vote was more than 2-1 against the bill.
After the vote, President Bush was "disappointed" that the House failed to pass the bailout, saying, "We put forward a plan that was big because we got a big problem."
[...]
While thanking Treasury Secretary Henry Paulson for negotiating on the bill, Pelosi said on the House floor that the Democrats had insisted that the bill "protect the American people and Main Street from the meltdown on Wall Street."
Pelosi also said the cost of the bailout "is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies -- policies built on budgetary recklessness, on an anything-goes mentality, with no regulation, no supervision and no discipline in the system."
After the vote, Boehner said, "Americans are angry, and so are my colleagues. They don't want to have to vote for a bill like this, and I understand that."
"I think that we need to renew our efforts to find a solution that Congress can support. 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," he said.
But Democrats dismissed the Republican complaints, saying the Republican leadership failed to convince their members to support the bill.
"They lost 2-1 on their own side, voting against their president, their presidential candidate and against every leader in their own party," one Democratic source said.
[...]
Rep. Barney Frank, a Massachusetts Democrat who was a key negotiator of the bill, said Republican leaders were blaming Pelosi because they were embarrassed that they failed to get a majority of the Republicans to vote for the bill.
"There's a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis," Frank said. "And because somebody hurt their feelings they decide to punish the country? I mean, I would not have imputed that degree of pettiness and hypersensitivity."
[...]
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