In a big shocker, the House voted down the $700 billion revamped bailout plan, which was previously thought to have enough votes to pass until Speaker of the House Nancy Pelosi gave a very ‘partisan’ and ‘heated’ soliloquy which caused many Republican to sour on the idea of voting for this thing.
Not sure if that’s entirely true, but all of the guys walking out of that room who changed their votes are pointing to that as the main catalyst for their change of heart.
The final count is in and there is no chance the bailout could come up again for a vote today. They’re already voting on other stuff right now.
In reacting to the news that no help is on the way for the financial crisis, the Dow Jones Industrial Average (composed of all the country’s biggest and sexiest stocks) fell a colossal 700 points before recovering to being down between 400 and 500 points now. A sign of more bad things to come as a result?
And to make matters worse, on CNBC Erin Burnett was just shouting at Charlie Gasparino to come in and say something. The ‘Italian Stallion’ Gasparino just said ‘Are they dialing me in, now?!’, apparently unaware of his presence live on the air.
Get your act together, CNBC, it’s time to get serious here.