Members of Congress have balked at "legacy vote."
Bailout has now failed and is off the table.
Not enough time has been available to build the political case for the bailout bill.
Bill contained no real caps on CEO parachutes.
At one point there was a 700 point drop in the stock market.
Small companies are likely to be among the first to feel the impact of the rejection of the bailout bill.
Where do we go from here?
Barney Frank is reportedly saying renegotiations will not continue until there's a chance to review the economic impact on the markets.
With the Jewish holiday, the soonest Congress would likely come back would be Thursday.
Back to the drawing board for now...
Related:
Freddie Mac Gets A Subpoena and Barney Frank Gets A Reality Check
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