Jim Jordan

Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.

When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle.

Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home.

The vote had been preceded by unusually aggressive White House lobbying, and spokesman Tony Fratto said that Bush had used a "call list" of people he wanted to persuade to vote yes as late as just a short time before the vote.

Lawmakers shouted news of the plummeting Dow Jones average as lawmakers crowded on the House floor during the drawn-out and tense call of the roll, which dragged on for roughly 40 minutes as leaders on both sides scrambled to corral enough of their rank-and-file members to support the deeply unpopular measure.

They found only two.

Bush and his economic advisers, as well as congressional leaders in both parties had argued the plan was vital to insulating ordinary Americans from the effects of Wall Street's bad bets. The version that was up for vote Monday was the product of marathon closed-door negotiations on Capitol Hill over the weekend.

Several Ohio lawmakers released statements about the vote.

Rep. Ralph Regula said in his statement that he supported the bill, "I supported this revised legislation with great reluctance in order to protect American families, the taxpayer, the worker, the person with a pension plan, the person who holds savings in a 401(K) retirement account, small business people who need credit to operate their businesses and pay their employees, and homeowners - to stabilize our economy."

Rep. Bob Latta did not vote for the measure and said in a statement, "Because of this legislative fast track, there are still many unanswered questions and provisions within this bill that I cannot support.  I firmly believe that Congress must do all it can to protect the taxpayers of this country."

Here's a list of how the Ohioans in Congress voted:

Democrats

Marcy Kaptur - No
Dennis Kucinich - No
Tim Ryan - Yes
Zack Space - Yes
Betty Sutton - No
Charlie Wilson - Yes

Republicans

John Boehner - Yes
Steve Chabot - No
David Hobson - Yes
Jim Jordan - No
Steven LaTourette - No
Robert Latta - No
Deborah Pryce - Yes
Ralph Regula - Yes
Jean Schmidt - No
Pat Tiberi - No
Michael Turner - No

Jordan (R-Urbana) commented after his no vote.

"The situation in the nation's financial markets is at the forefront of everyone's mind, yet I do not believe that a three-quarter trillion dollar taxpayer-funded bailout was the answer.

Today, Congress missed the opportunity to unleash the nation's entrepreneurial spirit, along with a wave of private capital and investment, to deal with the needs of the market in a truly American way.

Instead, $700 billion of taxpayer money was put towards a bailout that only serves to hurt our nation's long-term financial health. It increases our national debt, increases the size of government, and moves us further down the road of unsustainable federal budget growth.

My support is with an alternative plan that would utilize private capital to solve the problem far better than government bureaucrats. By removing the barriers to risk-taking and investment, and providing a government-backed insurance program as a safety net, we would be laying the groundwork to avoid future problems.