Big news in Washington as the House of Representatives votes against a proposed bailout supported by President Bush and the leadership of both parties.News 12's Ryan Gustafson has been following this story and joins from the newsroom with more.The plan failed by a 228 to 205 vote, with both parties splitting votes in the process.That sent the stock market plummeting, with the Dow dropping 777 points, the biggest one-day fall in the history of that market.The Minnesota delegation split evenly on the bill, with three Democrats and one Republican voting yes.However, first district congressman Tim Walz voted no, joining two Republicans and fellow Democrat Collin Peterson.He said his biggest problem with the bill was the power it gave to the financial companies.Rep. Tim Walz says, "Under this bill, the very people that got us into this would be the ones setting the price. And I am very uncomfortable with that."With the markets in free-fall, local investors may be weary of the situation, but experts stress that everyone can ride out these tough times if they remember to diversify their portfolio.Larry Maruska says, "People always have that safe side of their portfolio, and then they have the more aggressive side. And you kind of have to do that to keep up with inflation. And so the important thing is to make sure that safe side is kept safe. Government bonds, high quality corporate bonds, and CD's and things like that."We will have more reaction from Representative Walz on the Fox Mankato News at Nine and on News 12 at ten, as well as a look at where Congress goes from here.Live in the newsroom, Ryan Gustafson, News 12.