Washington Post story: McCain Clueless on Bailout Deal

[chicagoexpat]

One excerpt from the Washington Post article on meetings and how McCain derailed the deal worked out last week:

When Sen. John McCain made his way to the Capitol office of House Minority Leader John A. Boehner (R-Ohio) just past noon on Thursday, he intended to “just touch gloves” with House Republican leaders, according to one congressional aide, and get ready for the afternoon bailout summit at the White House.

Instead, Rep. Paul D. Ryan (Wis.), the ranking Republican on the House Budget Committee, was waiting to give him an earful. The $700 billion Wall Street rescue, as laid out by Treasury Secretary Henry M. Paulson Jr., was never going to fly with House Republicans, Ryan said. The plan had to be fundamentally reworked, relying instead on a new program of mortgage insurance paid not by the taxpayers but by the banking industry.

McCain listened, then, with Sen. Lindsey O. Graham (S.C.), he burst into the Senate Republican policy luncheon. Over a Tex-Mex buffet, Sens. Robert F. Bennett (Utah) and Judd Gregg (N.H.) had been explaining the contours of a deal just reached. House Republicans were not buying it. Then McCain spoke.

“I appreciate what you’ve done here, but I’m not going to sign on to a deal just to sign the deal,” McCain told the gathering, according to Graham and confirmed by multiple Senate GOP aides. “Just like Iraq, I’m not afraid to go it alone if I need to.”

For a moment, as Graham described it, “you could hear a pin drop. It was just unbelievable.” Then pandemonium. By the time the meeting broke up, the agreement touted just hours before — one that Sen. Lamar Alexander (Tenn.), the No. 3 GOP leader, estimated would be supported by more than 40 Senate Republicans — was in shambles.

[izquierdista]

1. He sure has the Bush touch!

Turned that to shit with just two sentences! :applause: :applause: :applause: :applause:

[chicagoexpat]

4. The ROYAL touch

[chicagoexpat]

12. touched by brown stuff

[NewJeffCT]

2. well, he is clueless on the economy

and, on many other things.

[chicagoexpat]

7. & the NYTimes reference to McCain's "help" on the issue: - going to a 4 star restaurant!!!

[chicagoexpat]

8. He was reaching out to the working class... for service... to bring some more bread...

[depakid]

3. This really is disturbing

When it comes right down to it though- aside from their bluster, House Republicans are POWERLESS.

[regnaD kciN]

5. Powerless? Not this time...

Whatever Democrats may think of the new compromise, there's no way in hell they're going to vote for it unless there's a pre-arrangement for each side to vote the same margin in favor. Otherwise, the Democrats know that, although they have the power to pass the bill themselves if they like it, the Republicans would then tie them to the bill and make it the "Democrat bailout of millionaires." The backlash from that might well be enough to tip the presidential election, and even a lot of seats in Congress.

That's going to have to be the guiding principle here: everyone has to sign on, or it won't get done. Any one large party bloc (House Democrats, House Republicans, Senate Democrats, Senate Republicans) that opposes it will force everyone else to kill it, too, out of political self-preservation.

[chicagoexpat]

9. They did the same thing in July on Housing bill

walked away & refused to support it cause of their rabid RW base

[chicagoexpat]

11. very, as events have shown

[Democat]

6. He is going to go it alone - in the Senate?

McCain isn't an Army of One.

He is a filibuster-proof Majority of One!

Or he's senile.

[chicagoexpat]

10. King John will decide the entire budget on his own