I'm stunned over the failure of the bailout bill to pass. Didn't McCain tell us on Friday it was essentially a done deal so he could join the debate? I have two quick observations.
1.) Nancy Pelosi' speech was atrocious. She should be removed as Speaker of the House. The woman is clearly too divisive. I don't know how she's elected as Speaker of the House (if she's elected). But, I hope she loses the position. There was no need for gloating, posturing and simply antagonizing Republicans right before this crucial vote that needed bipartisan cooperation. Shame on you, Nancy Pelosi. I've defended you for a while now. But, this is indefensible and inexcusable.
2.) The Republican leadership was miserable. On these types of votes they are supposed to know before hand how many votes they can deliver. Both Democrats and Republicans had good reasons for voting against the bill which was far from perfect. But, each side committed to enough votes to get it passed. The Dems on the far left didn't think it went far enough to protect homeowners. The Republicans on the far right didn't like the whole concept. But leadership, on both sides, thought it was necessary. In spite of Nancy's stupid speech, the Dems delivered the votes they committed to. The Republicans fell short. Any childish Congressman who voted against the bill because of the speech isn't worth of being in the House.
The bill is very unpopular among the American people. No one wanted to be on record on voting for it. But, I think most of them agreed it was a necessary evil. They didn't get their ducks in a row and give permission to just enough people who really needed to say "no" (those in close reelection races) to say no and still get the bill through. And Bush did a lousy job of explaining to the American people why it was necessary. Today, after the vote, he's addressing the nation again. George Bush has lost all credibility with the American people and may as well be hiding in the cave with Bin Ladin. Where has he been?
I never thought our leadership could be as bad as it is. But, they never cease to amaze me.