Obama Leads Bailout Talks for Democrats; McCain Sits Silent as Deal Falls Apart

[Mr. Peabody]

Wasn't McCain going to DC to lead these negotiations and get a deal done?

Politico
Both McCain and his Democratic rival, Sen. Barack Obama, would leave the White House without comment, and the meeting was described as among the wildest in memory. A beleaguered President Bush had to struggle to maintain order and reassert himself. And when Democrats left to caucus in the Roosevelt Room, Paulson pursued them, begging that they not “blow up” the legislation.

The former Goldman Sachs CEO even went down on one knee as if genuflecting, to which Speaker Nancy Pelosi (D-Cal.) is said to have joked, “I didn’t know you were Catholic.”

It was McCain who had urged Bush to call the White House meeting but Democrats made sure Obama had a prominent part. And much as they complained later of being blindsided, the whole event turned out to be something of an ambush on their part—aimed at McCain and House Republicans.

“Speaking professionally,” said one Republican aide, “They did a very good job.”

When Bush yielded early to Pelosi and Senate Majority Leader Harry Reid (D- Nev.) to speak, they yielded to Obama to speak for the assembled Democrats. And it was Obama who raised the subject of the conservative alternative and pressed Paulson on what he thought of the idea.

House Republicans felt trapped—squeezed by Treasury, House Democrats and a bipartisan coalition in the Senate. And while McCain spoke surprisingly little after asking for the meeting, he conceded that it appeared there were not the votes for the core Paulson plan without major changes.

Instead he [McCain] found himself in the midst of a remarkable partisan showdown, lacking a clear public message for how to bring it to an end.

At the bipartisan White House meeting that Mr. McCain had called for a day earlier, he sat silently for more than 40 minutes, more observer than leader, and then offered only a vague sense of where he stood, said people in the meeting.

...

Still, by nightfall, the day provided the younger and less experienced Mr. Obama an opportunity to, in effect, shift roles with Mr. McCain. For a moment, at least, it was Mr. Obama presenting himself as the old hand at consensus building, and as the real face of bipartisan politics.

[Das Texan]

Good job in leading this country John and actually participating.

[clambake]

when mccain got raped by bush in 2000 i was outraged by W's behavior and actions to destroy this honorable man.

now i can see why he had it coming.

[Yonivore]

Wasn't McCain going to DC to lead these negotiations and get a deal done?

Wasn't Obama going to stay on the campaign trail because...in his words..."this campaign is too important to suspend?" or something like that.

[Shastafarian]

Wasn't Obama going to stay on the campaign trail because...in his words..."this campaign is too important to suspend?" or something like that.

Obama didn't suspend his campaign. The only reason he went back to Washington is because the current President asked him to come back.

[Mr. Peabody]

Wasn't Obama going to stay on the campaign trail because...in his words..."this campaign is too important to suspend?" or something like that.

I guess McCain thinks the campaign is too important to suspend.

Staffing the White House meeting

According to a list of attendees circulating for today's White House meeting, McCain is bringing a campaign aide, while Obama's bringing a Senate staffer.

McCain will be accompanied to the meeting by economic adviser Douglas Holtz-Eakin, according to the list. Obama is bringing Ian Solomon, his legislative counsel.

Other attendees include the four Senate leaders and their chiefs of staff, and some five policy aides to the president, and White House press secretary Dana Perino according to the list.

[DarrinS]

Real leadership is "call me if you need me".

[Mr. Peabody]

Real leadership is "call me if you need me".

They called Obama and he lead the discussions. McCain interjected himself, without being asked, and then sat there without contributing. Now he's leaving after the deal went south. Great leadership.

[DarrinS]

They called Obama and he lead the discussions. McCain interjected himself, without being asked, and then sat there without contributing. Now he's leaving after the deal went south. Great leadership.

mkay

[Shastafarian]

mkay

Hurts doesn't it?

[Oh, Gee!!]

mkay

[DarrinS]

Hurts doesn't it?

Are you in love with me or something? You always respond to my posts. I don't know whether to be flattered or creeped out.


By the way, all that crap from the article is political theater, by both men.

[Shastafarian]

Are you in love with me or something? You always respond to my posts. I don't know whether to be flattered or creeped out.


By the way, all that crap from the article is political theater, by both men.

I follow idiots around. It makes me look better. You're doin a uva job too, thanks!

[Oh, Gee!!]

By the way, all that crap from the article is political theater, by both men.

If that's the case, then Obama is playing the lead.

[Mr. Peabody]

If that's the case, then Obama is playing the lead.

Well-played.

[wut]

1) McCain shouldn't have injected himself into the negotiations. But, not for the reasons you're thinking. McCain should've saw it coming (the Dems/Media blaming him for a failure, that they would create purposely).

2) Last things Dems want is for McCain to get ANY credit, this is an obvious point, but needs to be reiterated.

3) I blame both sides for being so FCKING petty, that they can't come together to actually do something for the people they represent, instead of acting in best wishes of their political party. They need to throw all of congress and the house in jail!

4) Here's a CRAZY idea: Have an open negotiation on live television...because you know what? It's OUR money you're dealing with! Then the public will see how petty our representatives really are.

[Ya Vez]

at least mccain is on the right side of this one... lol..

WASHINGTON - An Associated Press-Knowledge Networks poll shows little public support for President Bush's proposed $700 billion federal bailout of the financial industry.

Only 30 percent say they support Bush's package. The president says the bailout is urgently needed, but it has run aground after House Republicans rebelled. Another 45 percent oppose Bush's plan, while 25 percent are unsure. There is solid opposition among Republicans, Democrats and independents.

The same survey shows little expectation a bailout will work. It also shows most want Friday night's presidential debate to go on as scheduled. Republican candidate John McCain said Friday he would attend, after initially saying he wouldn't unless agreement was reached on a rescue plan.

[wut]

The whole thing is so politicized that you don't know who to believe, that's the problem.

The biggest mistake, is people saying it's 700 Billion lost money, and it isn't....it's a sunk cost that WILL be MORE than made up in the end.

It's partisanship that keeps this from passing, nothing else. The deal itself makes sense.

[Shastafarian]

at least mccain is on the right side of this one... lol..

WASHINGTON - An Associated Press-Knowledge Networks poll shows little public support for President Bush's proposed $700 billion federal bailout of the financial industry.

Only 30 percent say they support Bush's package. The president says the bailout is urgently needed, but it has run aground after House Republicans rebelled. Another 45 percent oppose Bush's plan, while 25 percent are unsure. There is solid opposition among Republicans, Democrats and independents.

The same survey shows little expectation a bailout will work. It also shows most want Friday night's presidential debate to go on as scheduled. Republican candidate John McCain said Friday he would attend, after initially saying he wouldn't unless agreement was reached on a rescue plan.

I think that opposition was to the original plan that has now been modified to add in security to the taxpayer investment.

[TheMadHatter]

LOL DarrinS comes into this thread trying to be funny and clown on Obama and gets owned.

[MannyIsGod]

at least mccain is on the right side of this one... lol..

WASHINGTON - An Associated Press-Knowledge Networks poll shows little public support for President Bush's proposed $700 billion federal bailout of the financial industry.

Only 30 percent say they support Bush's package. The president says the bailout is urgently needed, but it has run aground after House Republicans rebelled. Another 45 percent oppose Bush's plan, while 25 percent are unsure. There is solid opposition among Republicans, Democrats and independents.

The same survey shows little expectation a bailout will work. It also shows most want Friday night's presidential debate to go on as scheduled. Republican candidate John McCain said Friday he would attend, after initially saying he wouldn't unless agreement was reached on a rescue plan.

He's on the right side of this? Have you even read the plan the House GOP Is floating? Its ing horrible. It is a repeat and worse than putting us into a situation that AIG was in a few weeks ago that almost set off a ripple effect that would have cost so much money.

Its an incredibly stupid plan.

[Mr. Peabody]

Obama gives GOP an opening
By Mike Soraghan, Jared Allen and Jackie Kucinich
Posted: 09/26/08 01:14 PM [ET]

Sen. Barack Obama (D-Ill.) has given House Republicans an opening to help shape the $700 billion Wall Street bailout more to their liking, and the GOP members appear to be taking it.

During a conference call with reporters, the Democratic presidential candidate said an alternative plan put forth by House Republicans should be added to the one negotiated among a bipartisan group of senators, House Democrats and Treasury Secretary Henry Paulson.

“One of the things that I suggested yesterday was … to see if — to — you know, have Secretary Paulson figure out whether those items should be listed in a menu of options that are available to him for the rescue package,” Obama said.

Obama’s comments may have melted some of the intransigence that has paralyzed any movement on the deal.

House Republicans announced they would send Minority Whip Roy Blunt (R-Mo.) to the negotiating table. Rep. Paul Ryan (R-Wis.), one of the authors of the GOP plan, expressed optimism that the parties could reach some agreement.

“We’re not a stick in the mud, we’re not drawing a line in the sand, but we want something that works,” said Ryan, one of three lawmakers leading a House Republican working group charged by leadership with coming up with a new plan.

House Financial Services Committee Chairman Barney Frank (D-Mass.) said he did not believe that Blunt was being sent to say that only the House Republicans’ new plan, announced Thursday, was acceptable.

"There would be no point in negotiating if he was wedded to that," Frank said of Blunt.

But Frank did say the GOP bill could be merged with the other work product. He said Paulson said the House Republicans’ insurance-based plan could be added to the Bush administration’s plan to purchase toxic debt from financial ins utions.

Frank called the House Republican plan “useless, but not harmful.”

Asked about adding his plan to the Bush plan, Ryan said, “We’re not going to negotiate in the press.”

So....Obama lead negotiations for the Dems and broke the ice with House Republicans, thereby increasing the likelihood of a deal.


Man, this stunt completely ing backfired on McCain.

[2centsworth]

libs can't just leave things be and reap the rewards in votes, but instead love to lie their asses off. I guess the socialist agenda is of the most importance.

[Crookshanks]

Love the libs here believing all the lies from the Democrat leaders.

THERE NEVER WAS A DEAL! The dems lied about it so they could negate John McCain's influence. And then Obama had info fed to him by Paulson's buddies at Goldman's and he walked into that meeting and immediately started ranting on the Republicans - that's what blew up the meeting and turned it into a shouting match.

This whole "meeting" was set up to showcase Obama's "Presidential" qualities - and he blew it big time. That's why all the dem leaders are out there playing CYA. John McCain couldn't have killed the deal because there never was a deal!

Besides, the dems have the votes to push this bill through on their own - and they have the backing of the President. So why don't they just bypass the republicans and pass the bill if they're so convinced it's the answer to this crisis? Because they know it's not a good bill and they want the support of the republicans so they can then blame them when this doesn't work!

[Mr. Peabody]

Love the libs here believing all the lies from the Democrat leaders.

THERE NEVER WAS A DEAL! The dems lied about it so they could negate John McCain's influence. And then Obama had info fed to him by Paulson's buddies at Goldman's and he walked into that meeting and immediately started ranting on the Republicans - that's what blew up the meeting and turned it into a shouting match.

Republican senator sees enactment of bailout deal
Thu Sep 25, 2008 1:16pm EDT

WASHINGTON, Sept 25 (Reuters) - U.S. lawmakers have reached basic agreement on a Wall Street bailout bill that can pass Congress and be signed into law by President George W. Bush, a senior Republican senator said on Thursday.

"We now expect that we will have a plan that can pass the House, pass the Senate and be signed by the president," Sen. Robert Bennett of Utah said following a meeting of lawmakers negotiating the bailout package.

Lawmakers declined to provide details of the package, but it is expected to include limits on executive pay and strong oversight provisions

So....the Democrats lied....?