I'm not so sure a capital gains tax cut is all that relevant in a stock market that is down over 30%. What good is a cap gains tax cut supposed to do?

Right now capital gains taxes are about the last thing investors are thinking about. Paying capital gains taxes on profits really isn't that important when you are trying not to lose all your principal.

Despite the horror stories we are being told, people can still get loans (if they are credit-worthy). The sky hasn't fallen YET. Yes, the stock market dropped sharply today. But has everyone forgotten last Friday? Big moves are temporary. This market moves in both directions.

Who can we believe? Are our leaders exaggerating? Do they even understand the problem? Someone is playing fast politics with the US economy. Maybe on both sides.

You go Nancy. Just go.

See I don't buy the concept that the GOP will become insignificant. I recall talks about the democrats becoming insignificant. The reality is that the GOP may get smacked around this election cycle-I actually don't even think it is a "may" I think it is a "will" but when the US taxpayer gets a taste of the democrats controlling both houses of congress and the white house, the GOP will once again become far more signficant just like the democratic party became once again more significant.

It is cyclical, and the reality is that one party gets control, mucks it up, and the other party gets handed the control until they muck it up.

You might have confidence that the dems won't muck it up, but the dem leadership through out this crisis pretty much tells me flat out that they won't be able to lead as long as the leaders they currently have in charge remain there.

Pelosi's leadership on this issue was an epic fail-either she really is that poor a leader, or she intentially failed because she wants the economy in the tank, which is even scarier than thinking she was just stupid.

I would point out that the GOP house members weren't on board with the administrations propositions either.

If bipartisan support was needed maybe a little more bipartisanship out of the democrats would have been in order. I think the WH was and still is willing to sign almost any bill whose intent is to help the problem (note I said intent, because there are no guarantees that there is anyting congress can do to help).

If it is bipartisanship that is desired, Pelosi needs to take the lead and act in a bipartisan way-to date i haven't seen that from her.

However, no matter what I do think the GOP will get all the blame on this one, but then they were already getting the blame anyway, even though the history indicates a big part of the problem was the community reinvestment act and requirements to extend high risk loans-and a whole lot of denials from well funded democrats that there was absolutely nothing wrong with Fannie or Freddie.

Note that Rasmussen polls are starting to show growing support for the plan. Politics is difficult. The public will hate you on Friday for having your position on Monday.

"Voting down a bill whose original form was proposed by a Republican administration and which had bipartisan support effectively indemnifies Democrats against blame for the fallout"

I don't follow. The blame obviously isn't entirely on them, but there were democrats who voted against the bill as well.

Which does make me suspect even more that Pelosi wanted it to die in a way she could lay it at the GOP's feet.

I guess that's all the GOP has at this point. It will play to the base. No further.

The speed with which McCain is sprinting away from the bailout he tried so hard to own is kind of impressive. That's leadership you can time with a stopwatch...

Now the time for serious people to step up. Speaker Pelosi has ruined her chances for such a role.

Why would a speaker bring a bill to the floor when 40% of her own party is going to vote No and much of the opposition party is in opposition? Either she can't count votes, she knew it would fail and wanted it to, or she is an idiot.

Klein...well I've never liked him. He strikes me as a person with no principles and out of his depth when it comes to economic policy and even health policy.