Now that the $700 billion bailout bill failed to become law. Politicians did not wait to start finger pointing and assigning blame. The Democrats who by the way are the majority in the House are blaming the Republicans for the bill's failure, however, let's see what the facts are.
The House of Representatives defeated the plan by a 228-205 vote.
A majority of Democrats -- 140 -- supported the bill.
95 voted against it.
Most Republicans -- 165 -- opposed the plan.
65 supported it.
Twelve members of the Hispanic Caucus voted against the plan and 8 voted for it.
21 members of the Congressional Black Caucus voted against the bailout package and 18 supported it.
As we can see members from both parties voted against the plan. The American people rejected this corporate bailout and yesterday the people's House did likewise. The Democrats hold the majority in the House, if they felt so strongly about this plan they certaintly did not need the Republicans to pass this bill. The truth is that they didn't want this plan to pass because they knew that it is wrong, it is wrong to bail Wall Street out without holding them accountable for the mess they got us in. Kudos go to those House members who had the backbone to stand against pressure and placed the interest of their constituents first. Now lets hope they don't succumb to pressure as they go back Thursday and try to hash out a new plan.
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