I don't claim to know much about the bailout; here's what I do know

[OmahaBlueDog]

1. President George W. Bush can't convince the majority of congressmen in his own party that this bailout/rescue plan is the way to go. Fit him for a bill and feathers -- he's officially a lame-duck.
2. A 7% one-day drop is far from Black Monday or Black Friday. It may be a record for points, but not for percentages
3. The fact that the failure to pass this bailout/rescue plan drives oil down $10 per barrel erases any doubt that the current price was somehow pegged to serious question of commodity scarcity. Oil dropping back to a realistic value will likely do more to help the economy that this scheme George & Henry dreamed up.

Here's what I think we ought to do: Pelosi should gavel the House to adjournment and go home. Don't beat this to death; despite what Treasury says, this doesn't need to go next week. If a bailout/rescue/stimulus is really necessary, then this is a decision for the next President and Congress.

[phantom power]

1. four months is a long time.

[OmahaBlueDog]

3. It wouldn't really be 4 months; Probably more like 6-8 weeks.

IF OBAMA is elected, the Democratic majority in Congress will probably act on his wishes in the matter during the lame duck session. Bush could veto, but what would be the point?

IF MCSAME is elected, we'll probably have a somewhat modified version of what just got shot down get introduced, or the insurance plan for the stinky securities (the plan favored by the house GOP members) get's introduced in the lame duck session. Congress probably won't stand in the way.

[Benhurst]

2. All presidents (even elected ones) are lame ducks at this point

in their second terms. In Bush's case we need a new term. How about dead duck?

[OmahaBlueDog]

4. Dead Duck fits -- this duck is beyond lame

[dkofos]

5. I agree