McCain Out-Hoovers Hoover

McCain Out-Hoovers Hoover
By: emptywheel Thursday September 25, 2008 4:39 pm


if you think about it, McCain's about to do Hoover one better. After all, Hoover didn't fuck up the response to a financial crisis until after he was President. McCain's little photo op seems to have scuttled the Paulson deal, just as it was almost finalized.
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Warrior Negotiator

by dday

It's very hard to get the lay of the land on this bailout, but this looks to me like what happened today.

• After several hours of talks, Democrats and Senate Republicans reached something approaching a deal on at least principles, without specifics. House Republicans, particularly the rank and file, were never on board.

• The deal met virtually every priority John McCain had been promoting all week, but once he got to Washington, he met with John Boehner, came out and changed his tune.

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78% of Americans want a bailout



By Paul Davidson, USA TODAY
Nearly eight out of 10 Americans — 78% — say Congress should approve a historic bailout of the nation's financial markets, but most want lawmakers to significantly modify the Bush administration's $700 billion plan, according to a new USA TODAY/Gallup Poll
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Barney Frank: God save us from John McCain's "help"
By: SilentPatriot @ 7:52 PM - PDT

After announcing earlier in the day that a fundamental framework had been agreed upon, it appears House Republicans are trying to gum up the process with proposals Secretary Paulson testified would not work.

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Senator McCain has said he had to interrupt his campaign and couldn't do a debate because he had to come here to help us. God save us from such help. But in any case, there is no sign whatsoever that Senator McCain's got any real role here, so he certainly ought to feel free to go back and debate.

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McCain and House Republicans Shred Bill "More Deregulation!"
By: Ian Welsh Thursday September 25, 2008 4:40 pm
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Looks like McCain showed up to the President's "let's all agree on a bad bill" meeting and started talking about his own bill, with House Republicans. Apparently this bill involves more deregulation to fix the problem. (No, I'm not kidding. This is clearly some sort of pathology) So by the end of Bush's photo op, the bill was lying in pieces on the floor. I'm glad to see that John McCain's intervention helped so much in bringing together a deal.

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Breaking: House Republicans Scuttle Economic Rescue Talks
By: Scarecrow Thursday September 25, 2008 7:45 pm

Just breaking on MSNBC:

About 10:00 p.m. Thursday night, Barney Frank emerged from a Congressional meeting to announce that House Republicans had scuttled the negotiations over the financial bailout plan.

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