House bailout efforts minute by minute

11:36 A.M.: The Los Angeles Times reports that the White House lobbied Republicans right up until the vote, in an ultimately unsuccessful effort to overcome Republican objections to the bailout: "Right up until the roll call, Bush, Cheney and Paulson and industry groups called skeptical members of the president's party. Deputy White House Press Secretary Tony Fratto said they worked one-by-one through a list of potentially recalcitrant Republicans, seeking to answer their complaints."

11:33 A.M.: House Minority Whip Roy Blunt, the Republicans' top vote-counter in the House, tells a news conference that he miscounted -- he believed Republicans had a dozen more votes for the bailout than they really did. He blames "partisan discussion" for the failure of the bill.

11:31 A.M.: Deidre Walsh, A CNN producer who was inside the House chamber during the vote, describes the final moments before the bailout failed. Walsh reports House Speaker Nancy Pelosi shook her head, and the House fell unusually silent when the gavel came down indicating the vote was over. Walsh called it "an unbelievably extraordinary moment," unlike anything she had ever seen on the House floor.

11:13 A.M.: The Los Angeles Times reports the bailout has failed in the House.

11:08 A.M.: CNN, reading wire copy live on air, reports the bill has been defeated in the House. Some confusion evident on the House floor. The Dow industrials fall 616 points. CNN had earlier pointed out that a Dow sell-off of this magnitude "is not a crash."

11:03 A.M. Tally unchanged, 226 against, 207 for. Fox reporter: "The arm-twisting goes on, this is not a done deal." The bulk of the bailout opposition is coming from House Republicans.

11:00 A.M.: Tally unchanged: 226 against, 207 for. Voting remains open. 217 votes are needed to pass the bailout.

10:57 A.M. Dow is down 468 points. Tally unchanged: 226 against, 207 for.

10:54 A.M.: Tally unchanged: 226 against, 207 for. Fox News anchor observes, "It looks like, for the time being, the $700 billion bailout has failed in the House." Voting, however is still open; members of the House can change their votes. The bailout has not yet failed.

10:52 A.M.: Dow industrials bounce off their lows, now down 399 points.

10:51 A.M. One arm has been successfully twisted. One "no" vote switches to a "yes," the tally is now 227 against, 206 for.