I have not seen or heard anything to support the article. In fact just the opposite. At this point in time I will have to call the article BS.
http://www.freerepublic.com/focus/f-news/2090874/posts
U.S. Sen. John McCain, R-Ariz., may be throwing a monkey wrench into efforts to pass a $700 billion bank bailout, instead favoring alternative plans that looks to free up capital and credit markets via tax and regulatory relief while allowing financial institutions to temporarily skip dividend payments to shareholders.
Republican and Democratic officials in Washington said McCain was offering alternatives Thursday to the $700 billion plan backed by the Bush administration, Federal Reserve chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson.
That plan has the federal government acquiring bad mortgage assets from struggling banks with the goal of keeping them afloat and allowing more credit to flow.
McCain appears to be siding with conservatives and House Republicans who question the bailout and its costs to taxpayers as well as government rescuing private lenders and perhaps taking ownership stakes in rescued banks.
The alternative plan allocates less public money and relies more on tax breaks, lifting regulatory barriers and using less bailout-oriented mechanisms to free up capital and credit. It also seeks to create a privately funded mechanism to ensure mortgages and mortgage-backed securities.
One Republican official said McCain is standing up for taxpayers as he, President Bush, congressional leaders and presidential foe Sen. Barack Obama try to hash out a deal. A deal was close to being finalized Thursday but House Republicans and McCain are looking to get alternatives considered.
Bernanke and Paulson have warned that without action the flow of credit could totally freeze, more banks could fail and the rough economy sink into a recession.
A Democratic official said Thursday McCain and U.S. House Minority Leader John Boehner are the major barriers to passage of the bailout.
Public opinion polls show voters upset with the bailout plan and its relief to Wall Street bank and investment houses.
Some economists and business groups support the bailout, echoing worries that if something is not done the economy and financial markets could collapse.
Democrats had wanted to put stipulations on the Paulson bailout plan including limits on CEO pay.
McCain’s campaign and U.S. Senate office did not respond to requests for comment.
Obviously, ABC is LYING, trying to spoil support for McCain, and HIDE Obama's attempt to feed Acorn and other contributors to his Campaign.