|The "Economic Stabilization Act" appears to be going down to a narrow defeat in the House. With what looks like just 2 votes outstanding, here's the head count:
A narrow defeat, but a defeat nonetheless. More on the vote at ThinkProgress.
The Dow reacts swiftly, by tanking.
This is likely just the first round. There will be new negotiations, and both of the winning sides (liberal Dems and conservative Republicans, are already lining up to put their priorities on the table. They can't both win, however, since one side wants a "Main Street bailout" for individual Americans, and the other basically wants corporate tax cuts and very little more.
It stays interesting...
Labels: the Bush bailout, Wall Street