Nancy Pelosi's Partisan (and Error-Filled) Speech Killed the Bailout Bill

San Fran Nan couldn't help herself. She just had to try and blame the problems in the mortgage sector on the Bush Administration and in the process blew the whole bailout package:

WASHINGTON — Stocks spiraled downward as much as 685 points on Monday a $700 billion bailout of Wall Street appeared headed toward defeat in the House of Representatives.

House leaders held open the vote as they tried to sway reluctant lawmakers to support the plan, which was failing 207-226 after the vote clock expired but arm-twisting continued.

Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source.

"Pelosi's partisan speech has caused our members to go berserk and may cost us any remaining chance to pass the bill," the source said.

Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the "failed Bush economic policies" of the last eight years.

"When was the last time someone asked you for $700 billion?" she asked. "It is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies — policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system."

Pelosi forced Republicans into the position of agreeing her assessment of President Bush if they voted for the bailout and a bunch of them said "no way". If there's a failure of the financial system now, I think you can place the blame firmly on the padded shoulders of Nancy Pelosi.

I would guess the chances of getting significant Republican support for a future bailout effort have now cratered. The GOP leadership is holding a press conference and is placing the blame for the failure right at Pelosi's feet. They're blasting her, and rightfully so. Worst. Speaker. Ever.

I must admit to being a little shocked at the vote total. The Dems and the press will blame this failure on Republicans, but it's going to be tough to make that stick given that 94 Democrats voted against their own leadership who was heading up the effort to create and pass this bill. Take a bow, Dems:

I'm also hearing that the House members from both sides of the aisle are very angry at the Senate which refused to schedule a vote until Wednesday, which allowed them to sit back and watch and see what happened in the House. Profiles in courage.

UPDATE: The Dem leadership, and especially Pelosi, looked shocked in their press conference. All the sudden they're all talking "bipartisanship". I think Pelosi realizes how badly she screwed up.

The Dem talking point has been established. 60% of Democrats supported the bill. 67% of Republicans put party ideology ahead of country.

Of course, does that mean that 40% of Democrats put party ideology ahead of country?

UPDATE 2: Political picture of the day:
Even multiple facelifts can't keep a smile on that face.

UPDATE 3: Michelle Malkin has the YouTube of San Fran Nan's speech.