An array of forces lined up against bailout - AP story

[steve2470]

http://ap.google.com/article/ALeqM5i9VdejtNZSNIl0Jhij4P5UfAzzyAD93GMP500

WASHINGTON (AP) — In the end, the financial markets didn't stand a chance against voter antipathy, partisanship and election year politics.

The defeat of the extraordinary $700 billion financial rescue package represented a perfect collision of the forces of modern politics — a fast-moving Internet campaign, vulnerable incumbents, a weakened and unpopular president, and a roiling presidential campaign — all working against the so-called Titans of the Universe.

Polls showed widespread public opposition to the plan — the biggest federal intervention in financial markets since the Depression — and many Republicans saw such an enormous set-aside of taxpayer money as an unnecessary intrusion into free markets. Of the 19 most-endangered House incumbents, 13 voted no.

"This is one of those scenarios where nobody really wanted to do it," said House Republican Whip Roy Blunt of Missouri, who played a leading role in the final negotiations.

Such a roaring confluence of opposition could only have been overcome with strong party discipline and presidential power. But a weakened and unpopular President Bush and lawmakers forced to weigh the vote against their political careers conspired against success.

more at link above

[Kurt_and_Hunter]

1. I am so honored to be posting on a forum that helped propel that "fast moving internet campaign"

I don't think I'm long for this place.