Voting ended with negative results for the plan to assist Wall Street. By a vote of 228-205, Republicans: 138 against and 66 in favor, and Democrats: 95 against and 138 for, the proposal was shot down. Prior to the vote, there seemed to be tentative support on both sides. Supporters of the bill are now desperately trying to bring it up a second time for consideration. Prior to the end of the vote, Wall Street stock continued tumbling; the Dow fell almost 700 points before slightly edging up.

The rejected plan would have allowed the Federal government to possess a huge package of devalued assets from troubled financial companies to allow them to re retain seized credit. This would have hopefully curtailed the plunging stake of the market and assist the economy from the loss of billions made on now bad mortgage investments and the banks´ tightening on lending. In return for the assistance, the government would obtain stock warrants, which would give tax payers the ability to take part in future profits to be gained from said financial companies. Also, in order to assist troubled homeowners, the government would attempt to negotiate their mortgage terms and lower the monthly payments in order to allow more homeowners to keep their homes.

Of course, many homeowners did not necessarily see this as a good idea. Senator and chairman of Senate Banking, Housing, and Urban Affairs Committee, Chris Dodd, remarked on the feelings of many saying, “I don’t know of anyone here who wants the center of the economic universe to be Washington,...The center of gravity is here temporarily. … God forbid it’s here any longer than it takes to get credit moving again.” Several real estate analysts/industry heads also did not think that the plan was perhaps the best solution. Only time will tell if the plan is reshaped and represented. Until then, the outlook on the market remains unclear, with no real plan of action in site.