[Compiled from numerous sources]

The US House of Representatives voted 228 to 205 against the $700 Billion bail-out plan on Monday. At the end of the vote, 95 Democrats and 133 Republicans opposed the measure.

Congressional offices received overwhelming number of calls and emails from constituents: 9 to 1 in opposition. Even more than the number for the illegal immigration amnesty bill last session. Georgia Rep. Lynn Westmoreland voted (along with 11 of the 13 Georgia Republicans) against the bill saying, “It was a bail-out for the ones that caused the problem.”

House majority leader, John Boehner, and others reported after the vote that many members shifted away from support because of a highly partisan pre-vote speech by Speaker Nancy Pelosi.

Pelosi attacked first the House republicans by calling them unpatriotic for not participating in the negotiations. She then attacked President Bush, saying, “$700 billion is staggering, but only part of the cost of Bush’s failed policies.” She lamented that “eight years of anything goes policy brought us to where we are today.” Perhaps the most unrealistic comments were her praise for Barney Frank’s outstanding economic leadership.

Offense was taken by many in the House, as was noted by Rep. Boehner saying he could see it in their faces. House members were aware of kick-backs from Fannie Mae and Freddie Mac in the way of campaign contributions and grants to support groups like ACORN. These were major points that were addressed through the weekend’s bi-partisan negotiations. They were also aware of hearings in 2004 wherein Barney Frank, Chris Dodd, Chuck Schumer and Maxine Waters came to the defense of the failing quasi-government mortgage lenders Fannie & Freddie; and, that subsequent Democrat maneuvers blocked all legislative attempts to rein in the problems.

In addition to grass roots opposition and reasonable concerns over re-election, it was Pelosi’s partisan attacks, lies and calling Republicans unpatriotic that sealed the fate of the House vote.

The original version of the bail-out was rehashed over the weekend and a ‘better’ bill was said to be presented for a vote today. The changes included removal of a provision that would give 20% of potential long-term profits to radical leftist organization ACORN. However, the trade-off included a true socialist agenda:

Section 103 stipulated that the Treasury would be in position to bail-out cities, states and labor unions whose pension funds were staggering.

Also, wording stipulated that the Treasury shall provide help to individuals struggling to pay their mortgages.

Anticipating passage of the bail-out bill, Glenn Beck said, “Our lives are changing. We are losing the essence of America. In the 1950s nobody expected a bail-out of any kind. You saved up the required 20% down payment for a mortgage and you paid the monthly notes.”

Newt Gingrich predicted the bill would pass the House because of the serious implications of any Congressman being the deciding vote in opposition, and then having to take responsibility for killing the needed rescue of the financial markets.

However, Gingrich also said the world is on the edge of a fundamental meltdown in the financial markets. He had no sense this bail-out would stop that reality. The bill contained no market fundamentals to insure stability such as freezing or removing the capital gains tax, freezing spending, or any realistic plan to achieve energy independence. He said, “There is no good future to choose. This is the ‘least bad’ bill on the table.” Gingrich anticipated the bill would pass to send a positive signal to world economic markets.

Forbes reported an unnamed Treasury official as saying, “The $700 billion figure was not based on any particular data; we wanted a really big number.” The intention was to send an immediate message to world markets.

More than two-thirds of Republicans and 40 percent of Democrats opposed the bill. Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes.

Boehner, the Ohio Republican, said Pelosi’s speech "poisoned our conference, caused a number of members that we thought we could get, to go south."

That was a remarkable accusation by Republicans against Republicans, said Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee: "Because somebody hurt their feelings, they decided to punish the country."

It would seem that Barney Frank, refusing to accept responsibility for his own part in causing the crisis in the mortgage markets, fails to understand a simple fact: Americans are not as stupid as he believes we are! It is he and the other thieves in Congress who deserve punishment.

It is apparent that the Democrat controlled House cannot pass the measure without Republican support. It is also apparent that Middle America will remember any switched votes on November 4th.