[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/POLITICS/09/29/bailout.fallout/art.gop.leaders.ap.gif caption="Republican leaders speak to reporters on Monday after the bailout bill failed to pass."]
Whoa! My advice: Don't check the 401K plan. Stocks sank 778 points today, the worst single-day point loss ever. Here's another tough reality: investors lost $1.2 trillion, the most ever in one day. The deep decline came after the House rejected the $700 billion bank bailout plan.
How did it get this bad? It depends on who you ask.
Republicans and Democrats are pointing fingers at one another.
It's sorta like when you ask your kids, "Who broke the lamp?" And, each child blames the other.
But, in this case, trillions of dollars are at risk.
Here's some of the blame game for you.
House Republican leaders say Nancy Pelosi, the Democratic speaker of the House, caused the vote to fail. "The Speaker had to give a partisan speech... that poisoned our caucus," said Rep. John Boehner, the House minority leader in a news conference after the vote.
The number-two Democrat in the House, Rep. Steny Hoyer, rejected that accusation as "absurd."
Rep. Barney Frank, the House Democrats' main negotiator on the bill, was even more critical.
"Because somebody hurt their feelings, they decided to punish the country?" Frank demanded, saying the explanation was an excuse. "I don't believe they had the votes. They are covering up the fact that
they don't have the votes," he said.
Do you think the House should have approved the bailout or did it take the right step?
We'd love to hear your thoughts.
Tonight, we'll have all the angles on this ugly day on Wall Street. From the politics to your pocketbook, find out what this means for you and America's economy.
Hope you join us at 10pm ET.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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