---Ludwig Von Mises
(Paulson and Bernanke are opting for choice #2.)
Posted on 09/26/2008 4:04:47 AM PDT by southernnorthcarolina
WASHINGTON (AP) -- Even for a party whose president suffers dismal approval ratings, whose legislative wing lost control of Congress and whose presidential nominee trails in the polls, it was a remarkably bad day for Republicans.
... snip ...
"This is the president's own party," said Rep. Barney Frank, a top Democratic negotiator who attended both meetings. "I don't think a president has been repudiated so strongly by the congressional wing of his own party in a long time."
... snip ...
At one point in the White House meeting, according to two officials, McCain voiced support for Ryan's criticisms of the administration's proposal. Frank, a gruff Massachusetts liberal, angrily demanded to know what plan McCain favored.
These officials also said that as tempers flared, Bush struggled at times to maintain control.
At one point, several minutes into the session, Obama said it was time to hear from McCain. According to a Republican who was there, "all he said was, 'I support the principles that House Republicans are fighting for.'"
Some at the table took that to mean the conservatives' alternative proposal, which stands little chance of passage.
(Excerpt) Read more at biz.yahoo.com ...
How does he figure it’s such a bad day? McCain is not dropping in most polls. In some states that went for Gore and Kerry he is surprisingly competitive. Sen Sununu is roaring back in NH and Dems are not expected to gain as many seats in congress as had been projected just a short time ago. It’s obvious this “news” report is meant to demoralize the GOP.
According to blogs 4 McCain (see story posted above this one. The bail out is to help places like ACORN and such.....
... In the “agreement in principle,” there is the effect of a major “earmark” which commits money from future “profits” to be given to nonprofits organizations like ACORN, National Council of La Raza and potentially the National Urban League. This agreement clearly evidences that the Government expects to benefit in the future from the bailout when the values of property rises and mortgages or properties are then sold by the Federal government. The agreement
THIS IS WHY IS NEEDS TO BE BLOCKED!
Barney Frank wants this bailout completed as soon as possible. The longer it lingers, the more it implicates him, and the greater the probably that more Americans will know it.
The dems had a chance to solve this -- they have a majority in both houses, but Pelosi and Reed failed in their leadership rolls. No, Barney, this was a dem failure, not a Republican repudiation. It looks like Mighty McCain had to step in. ("Here I come, to save the day...". Except that McCain would never stoop to that.)
Keep dreaming dude, keep dreaming.
I agree with your wise statement. McCain has Obama by the short and curlies.
PS -- blames = blamed
The RATS have the votes to pass the full $700 billion bailout. McCain and the GOP should let them, if the RATS won’t embrace the necessary changes.
We’ll take the $700 billion issue to the taxpayers for the next 5 weeks and hang it around their necks.
I love it. When you get article like this out you know that the Democrats are losing on this issue and losing BIG. The Republicans need to continue to stand up for the American taxpayer and say they will have nothing to do with bailing out Wall Street who made risky loans to people who shouldn’t have had them.
They need to make this front and center until the Democrats finally blink.
Is the AP even on the same planet?
The RAT Party is in deep doo over this. (Dodd sweetheart mortages, Reid land scandals, Barney —it was on his watch— Frank and Obama hiring the worse crooks Fannie May had to offer). Apparently the news services are willing to look totoally idiotic in attempting to save them.
The Republicans had a bad day but the Demoncrats are in a snit. That does not compute. I meant Democrats, I am not biased, I am not biased.
Sure, Republicans in “trouble” over this. Guess that’s why McCain has now reclaimed the lead in most of the polls.
More MSM BS.
CNBC is doing an excellent job of covering this.
But they have a major weakness in their white house reporter John Harwood. I just saw a live shot of him at the debate site, and he’s screeching about how McCain is screwing this up, not doing things for the good of country and how he’ll blame McCain for a big down day on the DOW.
Eh. Since when did the Dems feel that Wall Street, the Dow and the goals of the Bush administration were the Holy Grail?
Hold the line GOP. No bailout.
---Ludwig Von Mises
(Paulson and Bernanke are opting for choice #2.)
Victory is in the eye of the beholder. This was a good day for Capitalism.
Pray for W, McCuda and Our Troops
If by calling a halt to the panic and forcing Congress and the administration to think things through first, the GOP then comes up with an alternative that will provide the same results for a fraction of the cost this may go down as their finest day. I applaud them for not being stampeded.
Even some dems know they don’t want a bailout in it’s present form.
some? some? everyone hates this thing.
I gave Bush the benefit of the doubt and tentatively supported it because I don’t want the economy to be wrecked. But I hate it now. There’s nothing the MSM can do to change minds and Obama is certainly not helping the bailout cause.
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