If money isn't loosened, this sucker could go down

[Amerigo Vespucci]

Poll question: If money isn't loosened, this sucker could go down

According to the source with knowledge of the White House gathering -- which featured both presidential candidates, congressional leaders and the President -- virtually ever key figure in the room, save McCain and GOP Sen. Richard Shelby, were in agreement over a revised version of Treasury Secretary Hank Paulson's plan.

Towards the end, McCain finally spoke up, mentioning a counter-proposal that had been offered by some conservative House Republicans, which would suspend the capital gains tax for two years and provide tax incentives to encourage firms that buy up bad debt. McCain did not discuss specifics of the plan, though, and was non-committal about supporting it.

Paulson, however, argued directly against the conservative proposal. "He said that he did not think it would work," according to the source. At another point in the meeting, President Bush chimed in, "If money isn't loosened, this sucker could go down" -- and by sucker he meant economy.

ABC News reported that, following the meeting, Paulson "walked into the room where Democrats were caucusing...at the White House and pleaded with them 'please don't blow this up.'" But this story isn't incomplete, according to sources.

http://www.huffingtonpost.com/2008/09/25/at-white-house-mccain-pla_n_129438.html

[wtmusic]

1. Ted Bundy doesn't know crap about the economy. nt