From the Editors
Bailout Plan Denied, Stocks Tank
So what happened today in Congress? Apparently, Nancy Pelosi hurt the feelings of some House Republicans, who decided they would teach her a lesson by wrecking the American economy (via Crooks and Liars and TPM). Even a Rich Lowery reader agrees with Barney Frank that this is what happened (via NRO's The Corner and Gawker). Michelle Malkin asks of her conservative brethren, "What did you expect, crap sandwich swallowers?" As of today, there is only one party in Congress with a "functioning leadership," according to The American Scene.
John McCain took credit for the bailout prematurely (via Politico). Then when it failed and stocks tanked, the McCain camp lashed out, "This bill failed because Obama and the Democrats put politics ahead of country," while Obama took a reassuring tack, saying, "Stay calm ... [and] get this done" (via Politico and The Caucus). HuffPo blames Bush with the headline, "Leaderless" because the president never educated the public on the details. According to Rasmussen, only 49 percent understand that America could see a return on its investment; of that 49 percent, support for the bailout is 2-to-1 in favor.![]()
The Corner asks, "Is this the end of the U.S. Financial System as we know it?" Ross Douthat says this vote means that "McCain loses by a landslide in November," leading to a "Blue Period" in Congress not seen since 1930. What about Sarah? Jeffery Goldberg at The Atlantic says of the GOP VP hopeful, "Dan Quayle was Metternich by comparison."
Comments