Posted on 09/25/2008 4:24:02 PM PDT by tcrlaf
A high-profile White House meeting on Treasury’s $700 billion Wall Street rescue plan ended Thursday on a sour, contentious note, with no joint endorsement by the two presidential candidates, Sens. John McCain and Barack Obama.
Democrats complained of being “blindsided” by a new conservative alternative to the plan first put forward by Treasury Secretary Henry Paulson. And the outcome casts doubt on the ability of Congress to move quickly on the matter, even after leaders of House and Senate banking committees reached a bipartisan agreement Thursday on the framework for legislation authorizing the massive government intervention.
It was McCain who urged President Bush to call the White House meeting attended by House and Senate leaders as well as Obama, his Democratic rival. But the candidates left without commenting to reporters outside, and the whole sequence of events confirmed Treasury’s fears about inserting presidential politics into what were already difficult negotiations.
Wall Street had posted a gain of 197 points earlier in the day, buoyed by hopes of an agreement. The markets had closed by the end of the White House meeting, but Friday could bring turmoil, and there will be immense pressure now by Treasury
Democrats blew up, and walked out.
There's one of the lies in this article.
Please let this be so, and please let McCain be the one spearheading it. If so, I'd have to agree the man is trying real hard to earn my vote with more than the fantastic pick for his running mate.
Maybe BUSH will FINALLY see his enemies, the Democrats, for what they are...PIGS!
I heard Schnitt discussing what this thing had in it and it is the “new deal” all over again. Did I ever tell you how much I despise dims?
LLS
Some of the House Republicans are calling it the McCain plan after he phoned it in last night.
"Inserting politics", eh? Who'da thunk it?
The Democrats have done nothing but play politics with this up to now and they continue to. They think destroying the economy will win them the election. They created this situation and are desperately trying to assign the blame elsewhere. They must not be allowed to get away with it.
LLS
Democrats complained...
As usual. Pathetic bunch of whiners.
This is a statement without any support from the rest of the article. Since the opposition to the Paulson plan is coming from House Republicans, how can it be blamed on the insertion of "presidential politics" into the negotiations?
I’m a little tired of hearing that there was a bipartisan agreement in the SBC. The only one who agreed was Sen Bennett. The ranking member, Richard Shelby is opposed as are most of the other GOP members of the Committee. What a crock.
Why should they give mortages at 20 cents on the dollar to the feds. What about the poor sap who spent out in the first place and got kicked out. I say give em to him.
I'm fully willing to call their bluff. We need to keep up the pressure. The Dems are ready to sell us out in spite of their populism (totally phony), and in spite of near-universal condemnation from their constituents, but some Republicans are still holding out.
The votes are there to pass the deal, but maybe we can make them pay on election day. There has to be a way.
Unfortunately, this PIG might end up biting McCain. The RATS are already blaming McCain for coming down and spoiling the plan. GO FIGURE! You know all the mediaPUKES, the BIG 0 and his camp will be jumping on that train! I hate them!
Let’s email all of our representatives in the House and Senator McCain. Tell them we want a REFORM plan not a blank check full of welfare.
What is this, the Orwellian network?
Even if a ‘Conservative’ package is agreed upon, it’s still socialism.
WooHoo!!!
GO REPUBLICANS!!
Lots of fear tactics going on right now to get us to sign this thing. Blowhard O’Reilly telling ‘the folks’ that the credit card companies could suddenly call for you to pay in full. THAT IS PATENT BS!! Credit cards are ‘unsecured debt’ and cannot be called due in full. Now, they can cut off your credit..but that is it! Don’t fall for it!
Have the republicans made their plan public yet?
I told ya Bush & McCain would drag this out (probably ‘til Sunday).
I almost feel sorry for the Dems..............almost.
They’re in over their heads.
I think there is a certain amount of intentional drama in this. Bush’s parting gift to McCain could well be a deal that he can legitimately claim credit for, and McCain is the only one who can bring the conservative Rs, blue-dog Ds, and the Bush administration together. In the end there will be a deal, and McCain will be credited for it, IMHO. Obama, Pelosi, and Reid better start picking out the kind of cheese they want with their inevitable whine.
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