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WASHINGTON -- The problem Senate Majority Leader Harry Reid foresaw Tuesday, as he urged Republican presidential candidate John McCain to weigh in on the $700 billion Wall Street bailout saying "we need some Republican votes," has now taken full shape.
McCain’s position remains unclear after today’s rare White House meeting, and a core group of House Republicans are refusing to get behind Bush’s bailout plan.
Now, Democrats led by Reid and House Speaker Nancy Pelosi are in the odd position of pushing to pass – with concessions they seek – the president’s plan.
Congressional leaders are loathe to approve the unprecedented bailout without full backing from both parties to avoid sending a mixed message to the financial markets.
Uncertainty from the Hill might not give the markets the confidence they need to turn around the grave financial crisis facing the country.
Reid returned to the Capitol late today, after the meeting with Bush, McCain and Barack Obama, the Democratic presidential candidate, and other congressional leaders, and said McCain’s decision to suspend his campaign and belatedly enter talks “only hurt the process.”
“I would suggest anyone in that meeting that tried to understand what John McCain said at the meeting couldn’t,” Reid said tonight. “He didn’t say anything of substance.”
Other Democrats involved in the talks agreed. Democratic Rep. Barney Frank, chairman of the Financial Services Committee, who has been leading negotiations, said later that “Sen. McCain was very unclear.”
A McCain campaign spokesman issued a memo late tonight saying the McCain urged a bipartisan solution that protected taxpayers. He said McCain would return to the Hill on Friday morning to continue negotiations.
While Republicans in the Senate are increasingly on board with the bailout, understanding the grave financial threat facing the country as the president articulated in his prime-time address Wednesday evening, House Republicans are refusing to throw their lot in with an unpopular president.
A break-off group of conservative House Republicans offered an 11th-hour proposal late Friday.
Negotiators from the both parties were back at work tonight.
There are politicians who will profit if the U.S. economy fails or, at least plummets.
They are in the pocket of those few who have the capability to manipulate the Stock Market.
When Warren Buffett says that he doesn't even know what's going on,,,,,we're in trouble.
Can we really rely on Harry "nepotism" Reid and Madame Speaker, Nancy "let em eat cake" Pelosi, who;
1.went on vacation from Congress for weeks and
2.refused to allow a vote on a viable energy bill to reduce gas and grocery prices (this includes construction projects)
3. shut down Congress ignoring the protests of citizens and Republicans who demanded a vote, and refused to acknowledge that this country's citizens were in dire straits
4. allowing time for herself and her husband to become heavily invested in The Pickens Plan so that
5. they could profit gazillions when the legislation for the energy bill is passed in THIS session of Congress.
THIS IS THE CHANGE that citizens were promised in the last election!
Remember that when you go to the polls in November to vote for a President!
Experts say that any delay could cause the Stock Market to plummet!
Exercise your right,,,email, phone, fax and let your voice be heard.
Make your politicians (rascals) get off their butts, stop playing election year politics at YOUR expense, and tell them to get to work
UNTIL IT'S ACCOMPLISHED!
http://katysconservativecorner.typepad.c...
"No Bailout for Foreign-Based Banks" by James Andrew Dunn
"As many of you have already heard, a last-minute revision to the Treasury Dept's buyout plan INCLUDES FOREIGN BASED BANKS WITH U.S. OPERATIONS.
This buyout plan is being presented to Congress and is under intense pressure from the White House for passage.
As President Bush said today, "the world is watching."
They certainly are: they're watching to see how generous we'll be to the so-called "world economy" with our tax dollars. I wonder if the taxpayers of Dubai, the European Union and Communist China will also be expected to pitch in?
The American people have no legal or moral responsibility to bailout foreign-based banks! We are citizens of the United States, not "citizens of the world."
Please contact your congressmen and urge them to oppose any provision that includes a taxpayer-funded buyout for foreign-based banks."
McCain has said many times that he does not understand the economy and needs to be educated. http://www.youtube.com/watch?v=GEtZlR3zp...
Now McCain stops the bailouts' bipartisan progress for his own political gain. http://www.youtube.com/watch?v=J0663DHLr...
Why does harry Reid's plan include millions for a group called ACORN. How did this become part of the financial bailout. ACORN is under indictment in dozens of communities for fraud, illegal voter registrations, and making political donations to candidates with federal grant funds. How can harry even suggest such a thing. No wonder he doesn't want anything to go wrong. This community organizing group is nothing but radicals that think the law doesn't apply to them. This needs to be stopped now. Call harry.
email link
http://reid.senate.gov/contact/index.cfm...
Las Vegas
Lloyd D. George Building
333 Las Vegas Boulevard South, Suite 8016
Las Vegas, NV 89101
Phone: 702-388-5020 / Fax: 702-388-5030
hmm same folks same articles - maybe effective? Lots of heat which we don't need on a hot fall day. I just want an analysis of the rate of inflation and the rate of taxation that this huge bailout will cause. Ok, no bailout, let them eat the bread that they baked!
The bailout bill will give a % money to Acorn, the democratic organization for public housing which Obama used to be the lawyer for.
Three GOP congressmen (Hensarling, Feeney, and Royce) have called on Barney Frank (D-Housing Boondoggle) to investigate ACORN's taxpayer abuses.
Obama needs to defend why
McCain calls himself a marvick, He should have told Bush, Hell No I vote NO!!!
did they pull a fast 1? they sneak in and votes on budget bill
with no oversite,NO transparency, and BILLIONS in earmarks? Harry we all here about you saying Oversite but where is oversite on the budget and its EARMARKS?
SENATE PASSES 6 month BUDGET Bill? why are we going to pass a CR (09 BUDGET)that has $34 billion in earmarks with an up or down vote with NO oversite on earmarks?
$3million on why animals hybernate? why do they only work 100 days in a session?seems they need to work YEAR ROUND? we all hear them talk about golden plans for CEO's ,americains are PISSED OFF also on Congress's GOLDEN PLANS ?
they make more money while not in washington as when they are?
Medicaid sys. is full of fraud and KICKBACKS what did we have over 350 took money from freddie/fanny?
HOW MUCH HAVE THEY TAKEN FROM MEDICARE?MEDICAID?
DODD NEEDS TO STEP DOWN
or removed?
no members of congress on the oversite committee!
The leaders in washington need to committ themselves yes its about time ,350 members took Cash payments to look the other way !this issue supports the fact 100 days does not work?
we have not even started on healthcare fraud that could be bigger than this?
we need them to stay in washington longer than the 100 days or so
,like CEO'S, NO MORE golden perks for washington,
If they are recieving full time benifits then they need to work FULL TIME !if they do not agree then a HUGE pay reduction is in order!
ENOUGH is ENOUGH!
Michigan un-employed would like to work here in these depts.
U.S. Senator Tom Coburn, M.D. (R-OK) released the following statement Congress has known about these problems for years, but we did nothing because we were so obsessed with short-term politics and earmarking to do the hard work of oversight and reform that was necessary to avert this mess. The investigation found that annual AWOL hours have increased gradually since 2001, climbing from approximately 2.5 million hours per year to 3.5 million hours in 2007.It is inexcusable that federal agencies would sit by and let this problem get worse"Quick Facts from the Report: Since 2001,
federal employees at 18 departments and agencies were absent without leave (AWOL) at least 19.6 million hours.
Annual AWOL hours in 2007 were 45% higher than in 2001.
The Departments of Veterans Affairs and the Treasury the two worst offenders accounted for 61% of all AWOL hours between 2001-2007.
Who here was minding the HELM? Dodd was in Iowa home?
with the reid hospital and now this?SEEMS SENATORS(AWOL) RUNNING FOR PRESIDENT HAVE DECIDED TO JOIN IN THIS PRACTICE?
We need a law to prevent this 2 years from now? Step down before you run!no wonder they get 9% approval rate LETS CALL FOR A FULL TIME CONGRESS
Any profits should be used to PAY DOWN OUR DEBT,not some NUTTY GROUP
and here i thought a Caveman could lead the senate