First, I'm opposed to socialism so I'm very happy that the bailout proposal has failed.
What I don't understand is how this is the fault of the Republicans.
I watched the vote and, absent any last minute switches (which members are allowed to do), there were 94 Democrats who voted AGAINST the bailout bill. That was more than the 65 Republicans who voted yes. If Nancy Pelosi and the Democrats had the support of their own members, they wouldn't have needed any Republican votes in order to get this passed. In fact, if even 12 of those Democrats had voted yes, the bailout would have passed!
For years we've listened to Democrats criticize Republicans saying all we care about are 'the rich' and our friends on Wall Street. We've heard how terrible we are because tax policy and subsidies favor 'evil corporations' while Democrats are all about the 'little people.' At every opportunity, we've been excoriated for favoring businesses (i.e. job providers) over individuals (i.e. people dependent upon those job providers for a wage).
Now, along comes a bailout plan for Wall Street and 'evil corporations' and Republicans are now the bad guys because we defeated the plan????
Up is down, day is night. Thankfully, this obvious move toward socialism is stopped for now.