He says today is a "sad day for the American public" because the bailout failed and is blaming the lost vote on "partisanship."
Like some House Republicans Holtz-Eakin is blaming Pelosi.
"It [the bill] broke down quite frankly with partisan attacks from Speaker Pelosi on the House floor," Holt-Eakin said.
"This is not the outcome John McCain wanted..and we are saddened to see this development."
Joe Curl of the Washington Times asks why McCain would even support a bill that is so wildly unpopular with the American people. (Good question!!)
"This bill is not perfect, but it is important," to stabilize global markets Holtz-Eakin responds. He says McCain was "happy to do his best in this process to get a result."