House Votes Down Bailout Bill… For Now

The House of Representative has voted against the $700 billion dollar bailout bill… for now.  207 members voted yea and 226 voted nae.  The bill, however isn’t dead, just yet.  The voting has remained opened, tabled for a time.

It’s amazing to see who is for and who is against the bill.  Personally, I never wanted the bill to pass, because I believe in small government, but I know others, who don’t mind government intervention, who oppose the bill for completely different reasons.

It’s going to be very interesting to see if a different version of the bill passes.

Later today, I’ll check the U.S. Congress Votes Database, over at the Washington Post, to see how my representatives voted.

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3 Responses to House Votes Down Bailout Bill… For Now

  1. LAL says:

    I am someone who doesn’t oppose bigger government but I’m unsure if this bailout is the best idea. I hesitate going towards socialized capitalism. It makes me nervous.

    I am okay with socialized healthcare and retirement, but this is different. I am also extremely uncomfortable with lack of regulation of companies, allowing them to value their own businesses in a mark to market accounting, and CEO golden parachutes.

    Without any of these I really am not for the bailout. I don’t mind help but just writing Paulson and Bernanke a blank check bothers me big time.

  2. Tim says:

    double edged sword. people want more regulation to save us from ourselves, but don’t want the bailout intervention. it’s simply dumbfounding. congress is so worried about being re-elected they aren’t thinking in terms of what is best for america, just what their constituents are saying. sometimes our elected officials need to make the harder right rather than the easier wrong. in this case, people flooding congress with calls saying no bailout is the easier wrong. unfortunate.

    let’s stop talking about golden parachutes, because it is a buzz word generated by congress in an election year. I find it pretty hypocritical for congress to be saying no golden parachutes trying to demonize wall street, when they themselves have golden parachutes. Congressmen have pension and medical care for life even after serving only one term. talk about a golden parachute.

    deciding on the bailout in terms of it helping wallstreet, is a glass half empty argument. well, glass 1/4 empty argument, because without it, americans will suffer in the end. so it’s a matter of the lesser of two evils, unfortunately with elections so close, people are focusing on blaming wall street and not letting them benefit, rather than focusing on the reality that if the bailout does not go through, americans as a whole will be in for lots of pain for years. heck, the market is down nearly 40% since last fall. that’s a lot of pensions, that’s a lot of state budgets, that’s a lot of social programs, that’s a lot of personal savings which affect lots and lots of americans having gone down the tubes. and now we are worried about a couple million dollars on a golden parachute? americans need to seriously wake up.

  3. Mary says:

    I e-mailed my congressman, Ciro D. Rodriguez, who voted against the bill, to ask why he did so. I’m awaiting his response now. I’m very curious to see what his response will be. I’m sure it will be politician-speak but I’m hoping it will give me some idea. Frankly, I’m not sure even how I feel about the bailout.