The world is topsey turvey when Michael Moore, Ron Paul, and the majority of Republicans in congress agree on anything (that we should not do a bail-out).
So the question is, what exactly are the rest of you smoking?
In any event, as Ron Paul said after the vote, nothing prevents the Federal Reserve from just pumping as much money as they want into the banking system (diluting the value of the dollar). This is mostly a bit of Pelosi left-coast showmanship.
California: Please send some intelligent people to Congress for a change. We've seen the current crop for what they are.