Larry Gude
09-28-2008, 11:34 AM
Obama, McCain signal support for bailout plan - David Rogers and Patrick O'Connor - Politico.com (http://www.politico.com/news/stories/0908/14015.html)
Proofreading and some heavy-duty political marketing are the next big steps for Treasury’s $700 billion rescue plan as House and Senate leaders take their verbal agreement back to their caucuses in anticipation of floor votes as early as Monday.
The breakthrough between Congress and the administration is the culmination of a sorry period in our history, in which reckless speculation and greed on Wall Street and lax oversight from Washington led to a meltdown of our financial markets,” Obama said. “But regardless of how we got here, a failure to deal with the current crisis would have devastating consequences for our economy, costing millions of Americans their jobs and retirement security.”
McCain, appearing later on ABC News’ “This Week,” said he wanted still to see details, but “hopefully, yes” would back the bill.
“This is something that all of us will swallow hard and go forward with,” McCain said.
Said Treasury Secretary Henry Paulson: “We’ve been working very hard on this and we’ve made great progress toward a deal which will work and will be effective in the marketplace and effective for all Americans . . . .We’ve still got more to do to finalize it, but I think we’re there.”
Most ominous;
In a sign that negotiations were growing serious earlier in the evening, a Pelosi aide collected BlackBerrys from the staffers meeting in her office so that no details would leak out.
I dare you to read the whole thing and not feel queasy.
Proofreading and some heavy-duty political marketing are the next big steps for Treasury’s $700 billion rescue plan as House and Senate leaders take their verbal agreement back to their caucuses in anticipation of floor votes as early as Monday.
The breakthrough between Congress and the administration is the culmination of a sorry period in our history, in which reckless speculation and greed on Wall Street and lax oversight from Washington led to a meltdown of our financial markets,” Obama said. “But regardless of how we got here, a failure to deal with the current crisis would have devastating consequences for our economy, costing millions of Americans their jobs and retirement security.”
McCain, appearing later on ABC News’ “This Week,” said he wanted still to see details, but “hopefully, yes” would back the bill.
“This is something that all of us will swallow hard and go forward with,” McCain said.
Said Treasury Secretary Henry Paulson: “We’ve been working very hard on this and we’ve made great progress toward a deal which will work and will be effective in the marketplace and effective for all Americans . . . .We’ve still got more to do to finalize it, but I think we’re there.”
Most ominous;
In a sign that negotiations were growing serious earlier in the evening, a Pelosi aide collected BlackBerrys from the staffers meeting in her office so that no details would leak out.
I dare you to read the whole thing and not feel queasy.