Hill Staffer: "Bailout In Deep, Deep Trouble" (Contrary To What The Talking Head Are Saying) [View All]

[kpete]

Bailout in Trouble?

I'll leave the debating of its merits and flaws to others. But a Hill staffer friend writes today to say the proposed administration bailout plan or variations thereof is in far more trouble on the Hill than media coverage is reflecting.

"I'm telling you, the coverage is not reflecting how much trouble a bailout is in in Congress. The leadership wants it to happen, and maybe it will. But I think (reporters) are getting their stories from leadership, plus the White House, who all want it to happen and play down opposition. But things are ugly, the rank and file - there's just no way they are going to vote for this crap. It just seems to me the bailout is in deep, deep trouble.

"No way it's going to pass," he added in a later email. "It seems impossible. Maybe we will get lucky, we get through the election, the meltdown proceeds apace, and somebody comes up with a save that does not look like - and is not - a bailout for rich Wall Street malefactors. But that is the sine qua non."

http://www.motherjones.com/mojoblog/archives/2008/09/9895_bailout_in_trou.html