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" Inside the White House meeting where Obama called McCain's bluff: 'I could see Obama chuckling' "Excerpt: ...Finally, raising his voice over the din, Obama said loudly, "I'd like to hear what Senator McCain has to say, since we haven't heard from him yet."
The room went silent and all eyes shifted to McCain, who sat quietly in his chair, holding a single note card. He glanced at it quickly and proceeded to make a few general points. He said that many members had legitimate concerns and that I had begun to head in the right direction on executive pay and oversight. He mentioned that Boehner was trying to move his caucus the best he could and that we ought to give him the space to do that. He added he had confidence the consensus could be reached quickly.
As he spoke, I could see Obama chuckling. McCain's comments were anticlimactic, to say the least. His return to Washington was impulsive and risky, and I don't think he had a plan in mind. If anything, his gambit only came back to hurt him, as he was pilloried in the press afterward, and in the end, I don't believe his maneuver significantly influenced the TARP legislative process. A number of people I respect on the Hill believe McCain ended up being helpful by focusing public attention on TARP and galvanizing Congress to action. And John later did find ways for House Republicans to support legislation. But Democrats absolutely did not want him to get any credit. They wanted the economic issue as their own. Accusing McCain of blowing up a nondeal was just hardball political tactics. But when it came right down to it, he had little to say in the forum he himself had called.
Then Spencer Bachus chimed in to say that while he and House Republicans had not endorsed a deal, he was proud that House Republicans had been successful in including strong taxpayer protections. Pelosi jumped in, insisting vociferously that House Democrats were responsible for the taxpayer protections, not House Republicans. They began speaking over each other, as the president tried to restore order. The room descended into chaos as the House and Senate members erupted into full-fledged shouting around the table. Barney Frank started to loudly bait McCain, who sat stony-faced.
"What's the Republican proposal?" he pressed. "What's the Republican plan?"
It got so ridiculous that Vice President Cheney started laughing. Frankly, I'd never seen anything like it before in politics or business—or in my fraternity days at Dartmouth, for that matter.
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