Lawmakers Split Over Bailout

[marinejcksn]

NEW YORK (CNNMoney.com) -- One day after President Bush said the nation's economy is at grave risk, the high-stakes negotiations over the proposed $700 billion bailout of the financial system ended in chaos on Thursday.

Lawmakers bickered over competing counterproposals and hours of meetings between key lawmakers broke down without any progress late into the evening.

A meeting at the White House between President Bush, congressional leaders and the presidential candidates was meant to speed approval of an agreement. Instead, the session revealed deep divisions between Democrats and House Republicans.

As a result, House and Senate leaders and Treasury Secretary Henry Paulson rushed to Capitol Hill at 8 p.m. to try to hash out a deal.

But shortly after 10 p.m., Rep. Barney Frank, D-Mass., the lead House Democrat on the issue who had been in close talks with Paulson for days, accused Republicans of refusing to negotiate.

...

http://money.cnn.com/2008/09/25/news...ion=2008092513

[marinejcksn]

You gotta love this. The 7th paragraph into the story, CNN throws out this gem:

"The next step was not clear late Thursday night. One thing seems certain: Lawmakers won't recess for the year on Friday, as originally planned. Instead, if they can't reach a deal in the next 24 hours, they're likely to work through the weekend."


:eek: OH NO! How will those poor Washington insiders survive? Working through a weekend, what are we....Communist China?


I haven't had a day off in 3 months and I work 14 hour days. Capitol Hill can Kiss My Grits. :mad:

[Celestron]

You gotta love this. The 7th paragraph into the story, CNN throws out this gem:

"The next step was not clear late Thursday night. One thing seems certain: Lawmakers won't recess for the year on Friday, as originally planned. Instead, if they can't reach a deal in the next 24 hours, they're likely to work through the weekend."

They might be working through the weekend....and were will Obama (who is still a member of the U.S. Senate) be....Washington D.C. or Oxford, MS?

[RED]

But, isn't the American public about 90% against the bail out? Weren't we about 80% against amnesty for illegal aliens? Doesn't Juan still want to shove through amnesty? I'm sure glad this is a government of, for, and by the people. hmmm ... something's wrong here. :mad:

[OwlMBA]

The lawmakers arent split. They know that this is textbook socialism. This is what Mexico does - nationalizing private business - not America.

But this is an election year, and they know they need to bailout the financial companies to get elected. And politicians will always choose what gets them elected over what is best for America.