Failed $700 Billion Rescue Sparks $1.2 Trillion Stockmarket Freefall

The failure of the House to pass the $700 billion bailout caused the American stock markets to lose $1.2 trillion in value.

These are serious times. And we're governed by a confederacy of dunces. If the Republicans were determined to behave like petulant children, the Democrats should have cowboyed up and passed this bailout on their own.