Bailout Agreement Defeated (For Now)!!!
That's one good thing about the American system where members of Congress can vote freely, in contrast to for example the Swedish system where members of Parliament are more or less forces to do what the leaders of their Party tells them. Here we saw many Republicans defy George W. Bush (and John McCain) and many Democrats defy Nancy Pelosi and Harry Reid (and Barack Obama).
We shouldn't celebrate too much, though. There is a very high risk that enough Congressmen can be persuaded to switch sides in a later vote to pass it, especially if the market sell-off intensifies. But even if it ultimately passes (perhaps in a slightly altered form), it is still nice to see this snub to the Republican and Democratic establishment.