YAY! Bailout Bill Fails First Vote

WASHINGTON — The $700 billion bailout of the financial industry failed to win congressional approval on Monday, with the House of Representatives rejecting the measure.
The measure could still be reconsidered today — if House Republicans request it. It was unclear whether that would happen, however.
The vote tally was 228 to 205, with 95 Democrats joining 133 Republicans voting against the package, which had been cobbled together during days of late-night negotiations. The leadership of each party consented to keep the vote open while they tried to twist arms in a failed effort to win a majority in the House.
The Dow Jones Industrial Average fell by as much as 705 points during the wait. It recovered after the result was clear and was down less than 500 points shortly afterword.
The result was both a surprise, and yet not unexpected. The White House was confident that enough Republicans would support the controversial bill, which had won public support from key leaders.
But the bill also put representatives squarely at odds with their constituents, who'd flooded their offices in recent days with expressions of contempt for the proposed bailout.

Source: McClatchy Newspapers

Commentary

This is very good news!!!

I contacted Congressman Heath Shuler's office, and office personnel told me that he voted against passage of the bill.

This is one bill that it is very important for conservatives to keep from passing.