Bailout bill fails in House

In stunner, apparently Pelosi and Hoyer don't have bill whip counted properly.

Published September 29, 2008 5:51PM (EDT)

Wow, a stunner: Looks like bailout bill is going down. As of now, it's 227 nay, 206 aye.

Will be interesting to see which Democrats, 95 of them, voted nay. There were more than enough Republicans voting aye (65) to compensate for some majority-party defections, but not nearly 100 of them.

Meanwhile, the Dow is down over 450 points, going as low as down 680 at one point.

Geez: It's like the country is coming unhinged right before our eyes.

Note, however, that it looks like they're pulling the old GOP majority maneuver and holding the vote open. Maybe Nancy Pelosi and Steny Hoyer, who clearly miscalculated before bringing it to the floor, can twist some arms at the last minute.

By Thomas Schaller

Thomas F. Schaller is professor of political science at the University of Maryland, Baltimore County and the author of "Whistling Past Dixie: How Democrats Can Win Without the South." Follow him @schaller67.

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