From WaPo …

After bragging today about his role in shaping the economic bailout package, Sen. John McCain has made no statement to the press since the defeat of the bill, in part at the hands of House Republicans.

McCain boarded his Straight Talk Air charter plane a few minutes ago, but the plane has not taken off yet. McCain is in the front of the plane, separated from reporters by a brown curtain

Aides to McCain have not characterized his reaction to the bills defeat. On Sunday, he said he would “swallow hard” but vote for the plan, which he said was better than originally proposed.

Minority Leader Boehner (R) says that the Republicans pulled out their votes at the last minute because of Speaker Pelosi’s “overly partisan” speech. Here’s the speech. Totally unremarkable. Utterly puts the lie to their whining.

If the Republicans won’t help carry this one over the line, is it time to consider what a lot of economists think is a much better idea: recapitalizing these financial institutions by having the government buy equity stakes in them?

Minority Leader Boehner (R-OH) says it’s Pelosi’s fault the Republicans didn’t come through with the vote.

Late Update: Now Rep. Blunt is blaming the Jewish Holidays. Are there enough Republican Jews in the House to make that credible?

Later Update: A little context — last week GOP consultant/commentator Ed Rollins saying the House GOPers had decided to put party over country …

Fine Whine Update: From TPM Reader TM …

Is that really what the GOP leadership wants to go with? Their caucus deserted a bipartisen bill because their feelings were hurt by Speaker Pelosi’s speech. Talk about the crybaby caucus. Remind anyone of Gingrich in ’95 who shut down the govt. because Clinton wouldn’t negotiate with him on Air Force One on the way to Rabin’s funeral?

If McCain doesn’t suspend his campaign again soon — it may be time to panic.

On second thought, I thought McCain had gotten the Republicans.

From TPM Reader LR …

It would make sense for them to try to get the Dems pass this alone. Everyone is predicting this won’t “fix everything,” that the economy will still be in rough shape. At the same time, common wisdom is something drastic must be done fast to prevent the worst. If the Repubs can get the Dems to carry this bill, they can claim to be against what will continue to be unpopular without having to take the blame for a complete financial catastrophe. It’s a no-win for the Dems and a win-win for the Republicans. Unless, of course, they’ve overplayed their hand (like their current leader McCain likes to do) and the bill goes down because of their opposition, and a financial meltdown follows. And so the gambling continues …

classic game theory in action?

We’re still trying to get a read here on what just happened in the House? Did the Republicans try to pull a fast one at the last moment? Trying to dump this on the Dems?

The Dow was down moments ago by nearly 700 points with the voting underway in the House on the bailout package but passage looking tough.

Dow bounced back from its freefall, down only 500 points or so now. House vote stands at 206 Yea, 227 Nay, with voting still open.

It appears that the voting is being left open indefinitely as the last second arm-twisting commences. But so far only one vote has changed: 207 Yea, 226 Nay.

And there you have it: the House voted down the bailout. So much for there having been a deal. Another vote expected later, apparently.