$700B bailout plan breaks apart; back to the drawing board

[mystieus]

Source: Associated Press

WASHINGTON - Urgent efforts to lash together a $700 billion rescue plan for the national economy broke apart Thursday night, hours after key lawmakers had declared they had reached a deal.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sped to Capitol Hill to try to revive or rework the proposal that the administration says must be quickly approved by Congress to stave off economic disaster.

Congressional leaders were to meet with the economic chiefs into the night.

Read more: http://news.yahoo.com/s/ap/20080925/ap_on_bi_ge/financi...

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If this is the status in the morning, Wall Street is gonna freak the hell out.

[Runcible Spoon]

1. what, did the poor widdle CEOs not get their golden parachutes?

fuck this!

NO MORE CORPORATE WELFARE!

[rontun]

2. McCain's stupid stunts have helped to wreak havoc on the process.

McCain, as usual putting McCain First, proved once again that he's unfit to lead. But aside from McCain's antics, there is major resistance to the $700 billion bailout plan, even with the caveats the Democrats have included in the proposed legislation.

What's your feeling on the bailout plan? Help send a message to my state's Congressional delegation by voting in a poll. Simple question. Do you support the $700 billion plan to bail out Wall Street? Yes, No, or Undecided. You can vote here.

Our local party website is read daily by our Congressional delegation and its staffers, as well as most party leaders in the state. So I'd appreciate your help in sending them a message.

[MadLinguist]

3. the freaks been freaking for weeks. whats 1 more freak? eom

[mystieus]

4. What Obama said just a bit ago:

"What I found and I think was confirmed today is that when you inject presidential politics into delicate negotiations it is not necesary as helpful as it needs to be. There is a lot of glare of the spotlight. There is the potential for posturing and suspicion. The way I have been working over the last week, constantly in contact with the secretary and congressional leaders, may end up creating an environment in which you can actually get something done. Because as I said, when you are not worried about who is getting credit and who is getting blamed then things tend to move forward a little more constructively."

via Ben Smith