The Dow’s 777-point loss? that’s Monday’s news… Bush spoke Tuesday morning, like he did the day before, urging members of Congress to pass the bailout plan. He said he hoped negotiations for new bailout legislation would move forward when members of congress returned to Washington on Wednesday, after the Jewish New Year. Known as a great motivator, Bush was especially inspiring in Tuesday’s speech. “We are at a critical moment for our economy,” he said. “Congress must act.” Analysts agreed Monday’s drop was the worst in two decades.

As for the markets today? It’s a little pointless trying to report real-time stock info, especially when the indexes are so volatile. Check out the Dow yourself. It was up more than 200 points in the first minutes of trading.

Why exactly did the House vote fail? Both the Washington Post and Los Angeles Times have good articles explaining why. WaPo conclusion: Americans said “hell no!” and have lost faith in their leaders to lead in times of crisis. LAT conclusion: Some members of congress voted “no” to preserve their jobs. And thanks to redistricting, members in safe districts didn’t have to worry about reaching a consensus with their colleagues across the aisle.

Obligatory sad, horrible, depressing international news: At least 168 pilgrims were crushed to death Tuesday at a Hindu temple in Western India when thousands panicked after getting false word of a bomb scare. The pilgrims broke coconuts as religious offerings, and the slippery floor caused many to fall.

Best New York Times story of the day: The Grey Lady is often mocked for the seriousness it brings to all topics. But that seriousness can result in hilarity in unexpected ways. Like when the Times gets an exclusive interview with Somali pirates. Best paragraph of the piece:

In a 45-minute-long interview, Mr. Sugule expounded on everything from what the pirates want—“just money”—to why they were doing this—“to stop illegal fishing and dumping in our waters”—to what they eat—rice, meat, bread, spaghetti, “you know, normal human being food.”

Here’s a transcript of the interview. The reporter asked, “Why did you want to become a pirate?” Dumb question—who doesn’t want to be a pirate?!

And in other galactic news … The Mars lander Phoenix found two minerals known to be formed in liquid water—calcium carbonate and sheet silicate. NASA reported Monday the rover’s laser also detected snow falling from clouds more than two miles in the sky. It did not reach the ground.