by Calculated Risk on 9/29/2008 03:40:00 PM

Dow off 6%.

S&P 500 off 7%.

NASDAQ off 7%.

With the failure of the bailout in the House, the question is now what?

There is the possibility of some arm twisting and another vote tomorrow. Another possibility is that the bill will be revised in some way to garner a few more votes.

In the short run, the government is back to acting on a case by case basis.