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Snap, Crackle, Pop.
From the Baton Rouge Business Report's "Daily Report" :
News Alert: House defeats $700 billion financial markets bailout
The House today defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry. Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle. Leaders were huddling after the vote to figure out their next steps. Today's vote had been preceded by unusually aggressive White House lobbying, and spokesman Tony Fratto said Bush had used a "call list" of people he wanted to persuade to vote yes as late as just a short time before the vote. Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure. They found only two. Reps. Jim McCrery, R-Shreveport, and Charlie Melancon, D-Napoleonville, were the only members of Louisiana's House delegation to vote for the measure; Reps. Rodney Alexander, R-Monroe, Charles Boustany, R-Lafayette, Don Cazayoux, D-New Roads; William Jefferson, D-New Orleans, and Steve Scalise, R-Metairie, voted against the bailout.
http://www.businessreport.com/archives/daily-report/2008/sep/29/641/
News Alert: House defeats $700 billion financial markets bailout
The House today defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry. Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle. Leaders were huddling after the vote to figure out their next steps. Today's vote had been preceded by unusually aggressive White House lobbying, and spokesman Tony Fratto said Bush had used a "call list" of people he wanted to persuade to vote yes as late as just a short time before the vote. Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure. They found only two. Reps. Jim McCrery, R-Shreveport, and Charlie Melancon, D-Napoleonville, were the only members of Louisiana's House delegation to vote for the measure; Reps. Rodney Alexander, R-Monroe, Charles Boustany, R-Lafayette, Don Cazayoux, D-New Roads; William Jefferson, D-New Orleans, and Steve Scalise, R-Metairie, voted against the bailout.
http://www.businessreport.com/archives/daily-report/2008/sep/29/641/
