Boehner: No More Votes Today on Bailout

UPDATED at 2:47 p.m.:

Rep. John Boehner (R-Ohio) just told The Post's Paul Kane there will be no more votes today on the $700 billion Wall Street bailout rejected earlier this afternoon by the House.

The members have left the House and headed to the airports for a scheduled recess. Boehner said he had no idea when there could be a new vote.

The House is now supposed to be adjourned until at least after the elections.

After the vote, leaders of both party's leadership teams retreated to private meetings; Republicans to the offices of Boehner and Democrats to the offices of Speaker Nancy Pelosi (D-Calif.)

Republicans said they knew that they had little support heading into the vote.

"I wasn't overwhelmingly surprised by the outcome," said Rep. Roy Blunt (R-Mo.), the minority whip who helped negotiate the deal.

"We're trying to be constructive, that's all I can say," said Rep. Eric Cantor (R-Va.), Blunt's deputy vote-counter.

Democrats appeared stunned by the lack of GOP votes for the deal.

"We're going to have to talk about it in a rational way," said Rep. Steny Hoyer (D-Md.), the majority leader.

The party breakdown no-votes went like this:

Republicans: 133 votes against.
Democrats: 95 votes against.

-- Frank Ahrens

September 29, 2008; 2:49 PM ET  | Category:  business
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Can they even do another vote if members are already on the way to the airport? They can't vote via text message can they?

Posted by: Gurduloo | September 29, 2008 2:45 PM

Posted by: macebruce | September 29, 2008 2:50 PM

Awesome! Finally the politicians get it right!

Posted by: Sean | September 29, 2008 2:51 PM

Anyone who thinks that this isn't going to affect them directly is an idiot. This was not a bailout of Wall Street it was a bailout of our entire economy. This just shows how stupid people are. If you don't understand what is actually going on and how the economy works just keep your mouth shut.

Posted by: CBC | September 29, 2008 2:55 PM

I hope all of the "R" enjoy their vacation while the stock market and my savings go out the window.

Posted by: Marty | September 29, 2008 2:56 PM

A bipartisan rejection of the rabid, botox brain-damaged Nancy Pelosi and her radical left-wing, limousine liberal bailout. Unpatriotic??? They never addressed the loosening of credit by democrats that caused this madhouse. Left-wing groups used the democrats to demand loans for those not ready to take on a mortgage -- all in the name of diversity.

Let us find the bottom. It is where Obama and Pelosi are eating sushi.

Posted by: Anonymous | September 29, 2008 2:56 PM

President Bush could use his authority under Article II, Section III to call the House back into session; "[h]e shall from time to time give to the Congress Information of the State of the Union, and recommend to their Consideration such Measures as he shall judge necessary and expedient; he may, on extraordinary Occasions, convene both Houses, or either of them ..." However, the question remains whether that would be of any use.

Posted by: BAS | September 29, 2008 3:03 PM

Oh please. This is a bailout of WS pure and simple! If they want to bail out the economy spend money directly on things that will create jobs. Like infrastructure. Even buying down mortgage rates for homeowners in trouble would be much better for the economy.

When was the last time anyone heard of WS lending money for creating jobs? When was the last time lendings made for LBOs and speculation in financial and oil markets created jobs? Or did they destroy jobs instead?

Posted by: Anonymous | September 29, 2008 3:03 PM

Anyone got a link to breakdowns of the votes? Like who voted for and against?

Posted by: ??? | September 29, 2008 3:04 PM

Note that 95 Democrats opposed this too. Hard to blame (or credit) this vote on party lines.

Posted by: Elrod | September 29, 2008 3:05 PM

Incredible stupidity.

Better get your cash under the matress like Grandma' used to do.

These 205 cowards just put a knife in the heart of what's left of the middle class and their meager savings.

Worst part is that they created this mess with their dark-of-night sneaky legislation and reckless spending to the tune of a $10 trillion deficit.

They all need to be called back into session and do something other than saying "NAY".

Posted by: philip z | September 29, 2008 3:07 PM

Is anyone really wondering why the bailout failed? Are you kidding. Last time I heard the consumer is 70% of the economy. Even if we do bail out the banks the consumers are left with terrible mortgages, leveraged helocs, and ARMS coming due. What about them.

http://www.greenfaucet.com/economy/key-provisions-of-the-700-billion-bailout-unveiled/06845

Posted by: Jim Rogers | September 29, 2008 3:08 PM

"The past is gone. The present is full of confusion and the future scares the hell out of me."

David Lewis Stern

Now off into uncharted territory we go....

Posted by: Anonymous | September 29, 2008 3:10 PM

Make no mistake, the Republicans who voted against this voted once again in self-interest, shielding themselves against public outcry over a very unpopular cleanup operation to try to stave off damage from a mess of their own making. When these same bailout crybabies start feeling the pinch, hopefully they will remember the gutless wonders who inflicted their pain -- first by promoting Deregulation and Greed like both were God and then by doing nothing but go on vacation.

Posted by: Sara B. | September 29, 2008 3:10 PM

the future sure looks scary!

Posted by: macebruce | September 29, 2008 3:14 PM

They need to keep their fat behinds in Washington and keep working on this. Doing nothing is not an option.

Posted by: renegade | September 29, 2008 3:17 PM

I have lost all faith in America providing Leadership.
Americans have been living on credit and chasing the good life and it finally caught up with them. Now they blame the people who lent them the money in the first place. Unbelieveable.
I can understand most of America thinking this was just a bailout for the rich cats, because most Americans are ignorant. But their leaders are supposed to be well educated and should act outside of emotion.
Well - lets see how all the bleading hearts feel when they loose their jobs, and their pension funds dry up. Trouble is they are sending me to the bread line as well.

Posted by: Peter | September 29, 2008 3:19 PM

The first courageous thing Congress has done in a long time.

Hurray!

Posted by: info | September 29, 2008 3:21 PM

We need to handcuff the politicans to their desks until this matter is settled. Anyone leaving town ought to be ridden out of their district on a rail back to Washington.
When the stock market fell in 1929, there was no action by the government, the free market was allowed to "fix it." It allowed a credit crisis to worsen. It wasn't until 1932, that the worst of the depression hit most Americans with numerous bank failures and foreclosures and unemployment at 32%. If we wait to let the market fix itself, it may be too late for many American jobs and financial institutions.
The Republicans insurance proposal is stupid. How do you actuarialize the cost of insurance? Who is going to write it?
We do need to fix the foreclosure mess, but that can only be done by going through each mortgage. I do think it should be done in conjunction with this proposal, since it will help in the valuation of the bad mortgages. What needs to be fixed now is having money available for banks to use as credit. That is the crux of the Paulson plan. While certainly not perfect, I don't see a better plan for the time being. Allowing the financial markets to fail is not a good strategy unless we are willing to go back to the days of the Great Depression.

Posted by: Ruth | September 29, 2008 3:22 PM

The Democrats who voted against this bill should be ejected from the party! The Republicans should be chastised, too. Both sides of the aisle failed us all. This was not a bailout of Wall Street. It was a bailout of the economy. Only rarely does a member of the House get an opportunity to make a real difference. This was one of those rare times that comes along only every few years. Those who rejected the bill stole money from everyone in America. They are buffoons and criminals and should be treated as such.

Posted by: Steve | September 29, 2008 3:30 PM

Please, who were the yeas and nays. Names

Posted by: linda521 | September 29, 2008 3:36 PM

Posted by: WP | September 29, 2008 3:50 PM

Unless the actions of today are reversed soon, John McCain just lost the US Presidential election today.

And for the 133 Republicans who voted against, they can kiss their jobs goodbye, too. Think voting for an unpopular bailout is politically risky? Think about an actual roaring recession by November and how that'll influence your re-election chances.

Posted by: alexhamilton | September 29, 2008 3:51 PM

This is a VICTORY for DEMOCRACY and a DEFEAT for SOCIALISM!!

CONTACT YOUR REPRESENTATIVES -

The People of this country have spoken. The bailout legislation has been defeated. We oppose the bankers' bailout. Backroom arm-twisting is an unacceptable hijacking of democracy. WE WILL NOT ACCEPT any vote change in favor of the bailout.

------------------


Let the financial chips fall where they may and let the market corrections occur and if the consequences for the American public are dire, WE ARE A STRONG PEOPLE, let us shift through the ashes and rubble of their greed and the excess created to determine how and why this happened. Let Congress use their investigatory power to launch inquiries to determine who should have their assets seized and who is going to prison for this treachery.

This monopoly game is over. It is time to enforce the rules and start over. It is time for many of those in high places to go to jail!

Posted by: U.S. CITIZEN/VOTER | September 29, 2008 4:01 PM

they only need a simple majority for quorum...they can still pass the bill, the GOP just doesn't want to take part...

Posted by: kolkhoznik | September 29, 2008 4:38 PM

We want the names of the Nays and Yeas.

Posted by: ricardo | September 29, 2008 6:27 PM

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