Market plummets as Republicans in massive numbers oppose bailout bill – bill is dead

UPDATE: Okay this is interesting. House Republican leaders are saying that they wish the bill had passed but too many of their members defected and voted against the bill. And that it’s Nancy Pelosi’s fault – get this – that House Republican leaders couldn’t get House Republicans to vote for the bill. Catch that? The House Republican leadership wanted the bill to pass but their own members en masse defied the leadership and voted against the bill. So whose fault is that? Uh, how about Republican leaders in the House, the White House, and John McCain who promised to get the House Republican votes we needed.

UPDATE: McCain returned to Washington to get a deal and get House Republicans on board. We got the deal, even though McCain stayed home and then went to dinner with Lieberman instead of joining the actual negotiators on the Hill, and then when the vote came up today, the majority of Republicans voted against the bill and killed it. The majority of Democrats voted for the bill. Had the majority of Republicans done the same, it would have passed. John McCain supported this bill, then why was he unsuccessful in getting House Republicans to join? Why? Because they hate him. All the Republicans hate McCain. McCain isn’t a maverick as much as he’s a loner. People don’t like him. And the canard that he was going to somehow bring everyone together in a bipartisan manner was, well, just that, a joke. And today we saw the extent of McCain’s great powers to bring people together. McCain crash landed into Washington and blew up the talks. Then he failed to deliver when he promised he could get his party on board. John McCain was just tested, and failed.

The vote is taking place in the House right now, it looks like it’s going to lose, and the market is falling through the floor. Down 700 – well, actually now it’s fluctuating between 400 and 600 down. Jesus Christ. Andrea Mitchell tried to blame this on Democrats, but MSNBC’s reporter stopped her in her tracks and said no way. Per MSNBC, Democrats promised they could deliver half of their caucus, but the Republicans needed to do the same. The Dems have over-delivered, per MSNBC – they have more than half of their caucus voting for the bailout. The Republicans, however, are voting en masse against the bill. This is eerily similar to when House Republicans decided to shut down the government during the Clinton years. They just shut down the economy.

Follow me on Twitter: @aravosis | @americablog | @americabloggay | Facebook | Google+ | LinkedIn. John Aravosis is the editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown (1989); and worked in the US Senate, World Bank, Children's Defense Fund, and as a stringer for the Economist. Frequent TV pundit: O'Reilly Factor, Hardball, World News Tonight, Nightline & Reliable Sources. Bio, .

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