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...analysis by statistician Nate Silver, who runs FiveThirtyEight.com, made this clear. Of the 38 incumbent members of Congress from both parties who are considered vulnerable in the coming election, 30 voted against the bill (eight supported it). By contrast, members of Congress from relatively safe districts were evenly divided - 197 for it to 198 against...

Author: /time Magazine | Title: The Bailout Defeat: A Political Credibility Crisis | 9/30/2008 | See Source »

...news right now is the difficulty in unity on the bailout bill. How would you characterize it? There was a big meeting between the Speaker of the House and the leaders of Congress on both sides and Ben Bernake and [Henry] Paulson. They came quickly to terms with the problem and its dimensions. And they came quickly to the decision that they were going to have to do something. I think what happened in the days since is telephones began to ring. And they were calls from the American people saying, 'Whoa, I don't see this...

Author: /time Magazine | Title: Peggy Noonan | 9/30/2008 | See Source »

...problem has been growing for years. Roughly 28% of Americans approve of President Bush. Roughly 18% of Americans approve of Congress. Now those low numbers and majority of bad feelings have manifested themselves in the starkest of terms...

Author: /time Magazine | Title: The Bailout Defeat: A Political Credibility Crisis | 9/30/2008 | See Source »

...What this showed more than anything else was that not even members of Congress can ignore a switchboard system of Capitol Hill that is so totally jammed," said Peter Sepp, a conservative opponent of the bill with the National Taxpayers Alliance...

Author: /time Magazine | Title: The Bailout Defeat: A Political Credibility Crisis | 9/30/2008 | See Source »

...Obama, predictably, swiped back at McCain. "This is a moment of national crisis, and today's inaction in Congress as well as the angry and hyperpartisan statement released by the McCain campaign are exactly why the American people are disgusted with Washington," Obama spokesman Bill Burton said in a statement. "Now is the time for Democrats and Republicans to join together and act in a way that prevents an economic catastrophe." Given Monday's blame game, the odds of both sides rising to the occasion don't look very good...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

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