The House just voted down the bailout. Bam! Luckily, I had Veuve Clicquot on ice for just such an occasion.
TV punditocracy is saying the Leadership didn't work hard enough to sell the bailout, and people don't understand this will affect their ability to get loans, etc. While few people truly understand the bailout (I don't), I think most understand there is a serious crisis looming. People are pissed at these fat cats who have been gorging themselves the past eight years, and I think many feel the satisfaction I do at cutting our nose to spite the gluttons' face. We'll see if businesses can't meet payroll because of this, but gauging from Drew Pooters, unpaid labor doesn't cause enough of a stir in this country.
Two cents: there's no guarantee this thing would have worked. If the system stinks, why would this do the trick? And if it didn't, how many more trillions would we throw in the hole? And what about inflation? And the debt?
Congress should cancel its vacation and take the time necessary to figure this thing out. The markets will wait for them.