It was probably in anticipation of this that stocks plunged this morning.
CNN talking head: "The noes are beyond 218. . . . You won't have leaders twisting arms, you'll have them trying to break arms."
What they do is keep the vote open and try to force votes to switch. That's how the Republican Congress managed to pass Bush's prescription-drug benefit bill, in the middle of the night.
The rebellion is largely a Republican one, a belated flare-up of small-government sentiment on display for constituents. From what I understand (the Explainer, Charlie Martin, has been explaining to me), presenting this as socialism or welfare for fat cats is tainted red meat. It's not just a Wall Street bailout. It's to keep the whole economy running. And it's an investment on the taxpayers' behalf, a buying up of distressed assets by the only bank big enough to do it
The Dow is tanking -- down 500. It was down almost 700. (Trading gets shut down at -1200.) Stabilization. Panic selling, bargain buying -- betting that "this too shall pass, eventually."
Republicans are blaming "a hyperpartisan speech by Nancy Pelosi" that turned off hesitating members.
UPDATE: A nay voter asked what would happen if he brought up a motion for reconsideration. The answer was confusing and he dropped it. The bill is dead and will need major Frankenstein surgery to reanimate it.
UPDATE II: This may be why the Dow hasn't totally cratered. But what's its longer-term cost? More debt? Inflation?