Monday, September 29, 2008

Wall Street shares plunge, House of Representatives vote no to bail out package and the Republicans hope a shotgun wedding can boost their fortunes

The House of Representatives has voted against the bail out of Wall Street :

The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

The rescue plan, a result of tense talks between the government and lawmakers, was rejected by 228 to 205 votes in the House of Representatives.

About two-thirds of Republican lawmakers refused to back the rescue package, as well as 95 Democrats.

Shares on Wall Street plunged within seconds of the announcement, after earlier falls on global markets.

A White House spokesman said that President George W Bush was "very disappointed" by the result.

He would meet members of his team in the coming days to "determine next steps", spokesman Tony Fratto said.

The vote followed a day of turmoil in the financial sector.

This of course is all going on bang in the middle of the US Presidential elections. Never mind, McCain has a plan :

In an election campaign notable for its surprises, Sarah Palin, the Republican vice- presidential candidate, may be about to spring a new one — the wedding of her pregnant teenage daughter to her ice-hockey-playing fiancé before the November 4 election.

Inside John McCain’s campaign the expectation is growing that there will be a popularity boosting pre-election wedding in Alaska between Bristol Palin, 17, and Levi Johnston, 18, her schoolmate and father of her baby. “It would be fantastic,” said a McCain insider. “You would have every TV camera there. The entire country would be watching. It would shut down the race for a week.”

There is already some urgency to the wedding as Bristol, who is six months pregnant, may not want to walk down the aisle too close to her date of delivery.

The selection of Palin, 44, the moose-hunting governor of Alaska, as his running mate was one of McCain’s biggest gambles. It paid off handsomely at first, but she could benefit from a fresh injection of homespun authenticity, the hallmark of her style, provided by her daughter’s wedding after appearing out of depth away from her home state.

McCain is expected to have a front-row seat at Bristol’s wedding and to benefit from the outpouring of goodwill that it could bring. “What’s the downside?” a source inside the McCain campaign said. “It would be wonderful. I don’t know that there has ever been a pre-election wedding before."

Yep, that's a real clincher; The shotgun wedding complete with the ice hockey redneck who didn't want kids and Bristol Palin,the shining example of how well a abstinence based sex education works , doing her duty to help mom get elected.

I mean even some on the right are commenting how badly Sarah Palin is handling interviews :

The conservative commentator Kathleen Parker, an early admirer, shocked McCain supporters late last week by calling on Palin to withdraw. “My cringe reflex is exhausted,” she wrote in National Review Online, a conservative journal. “Palin’s recent interviews . . . all revealed an attractive, earnest, confident candidate. Who Is Clearly Out of Her League.”

Labels: ,