The U.S. House on Monday voted down the proposed $700 billion bailout of the Wall Street desperadoes.

The 228-205 vote flew in the face of pleas from President Bush, Treasury Secretary Hank Paulson and House leaders from both parties, all firmly behind the rescue package.

But the plan to save Wall Street was unpopular on Main Street. In the end, lawmakers decided it was better to stand up to the administration and their own leadership than to face angry voters with elections looming just a few weeks away.

The idea of a taxpayer rescue of a bunch of Wall Stre...

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