UPDATE: Yeah, some Dems are to blame, too.
But then again, the Democrat side said they would deliver half their caucus, and they over-delivered. The Republicans needed to do the same, and they failed miserably.
UPDATE #2: Should the Democrats, who are in majority, just demogogue this situation and write a progressive bill and not wait for Republicans to come to the table? Krugman considers it.
UPDATE #3: McCain-Palin senior policy adviser Doug Holtz-Eakin:
"From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was attacked by the Democratic leadership: Senators Obama and Reid, Speaker Pelosi and others. Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families."Barack Obama failed to lead, phoned it in, attacked John McCain, and refused to even say if he supported the final bill."Just before the vote, when the outcome was still in doubt, Speaker Pelosi gave a strongly worded partisan speech and poisoned the outcome. "This bill failed because Barack Obama and the Democrats put politics ahead of country."
Shorter version: Republicans got their feelings hurt by Pelosi’s speech, so they decided to place the entire economy of the country in jeopardy.
P.S. Boehner and Blunt just said the same thing — it was Pelosi’s partisan speech that "poisoned the well".
UPDATE #4: What exactly was so poisonous about Pelosi’s speech? And listen to Barney Frank…
UPDATE #5: Yeah, panic has ensued, and people are stocking up on canned goods for the coming apocolypse. One of the biggest gainers on the NYSE was Campbell’s Soup