It would appear that the financial package is not going to pass. CNN and MSNBC are both reporting that the House vote is going to fail. At just after 2:05 pm EST, it is being confirmed that the House has voted down the bailout.
It would appear that the financial package is going down in flames. The votes are 205 Yea and 227 Nay, with one No Vote. In order for a bill to pass in the House, it needs at least 218 Yea votes.
Republicans have voted 133 Nay, 65 Yea; Democrats voted 141 Yea, 94 Nay. The one No Vote is a Republican.
The Dow is at this particular moment is down 500+ points and someone just said on the news, it is time to "hold on to the side of the kayak and ride this out". A few moments ago, the Dow fell by 680 points and is bouncing all over the place.
So, what is next?
UPDATE: Apparently, clusters of members are surrounding those who voted no and are trying to get them to change their minds. The banner across the bottom of the screen says that the House vote on the package is still open. So, there could be a change.
Numbers updated to 207 Yea; 226 Nay. They need 11 more votes ... stay tuned!
CNBC is reporting that there is "now no chance of passing this Bill". Final count is 228 Nay, 205 Yea.
U.S. Financial Bailout Deal Fails
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