House Rejects Bailout Bill

Initially only a voice vote was done, but per request, an actual polled vote was taken. It was interesting, because initially, it seemed like the voice vote indicated passage.

The preliminary vote was 185-197.

President Bush on Monday had once again urged the bill's passage. He said:

"With this strong and decisive legislation, we will help restart the flow of credit so American families can meet their daily needs and American businesses can make purchases, ship goods and meet their payrolls."

Many have seen this bailout as simply another example of how Corporate America can make monumental mistakes, and yet face nothing more than a slap on the wrist.

You can read the full text of the bailout bill here.