Karl Rove's Analysis: Pelosi Let the Bill Fail

If you own stocks that were down 20% today (or if you work for a firm that went under today), you should listen to Karl Rove's analysis of why the bill failed today. It will truly infuriate you.

The bottom line is that Nancy Pelosi could have gotten the 10 votes she needed if she wanted the bill to pass. Several of her best friends, allies and committee chairs were told they could vote no if they were in a reasonably tough re-election campaign. Further, even Democrat members of Barney Frank's Banking Comittee were allowed to vote now. Make no mistake about it - 94 Democrats voted against the bill and were allowed to do so - it's questionable whether it's because a crisis gives Obama an advantage in the election, whether it protects vulnerable Democrat House members or it allows a really bad Democrat-only bill to re-emerge at the end of the week. But this bill could have passed with just very minimal effort from Pelosi. Meanwhile, she insulted Republicans in every way possible just prior to the vote. Pretty incredible stuff but worth listening to Rove's analysis.