It's not clear what exactly McCain is going to do in Washington. He doesn't sit on any of the relevant committees and everyone is already deep in negotiations. Still, he's coming anyway. It doesn't make much logical sense. The only way to understand it is politically: In a presidential campaign, the surest sign that a candidate is playing politics on an issue is when he claims not to be playing politics on an issue...
It's hard to believe that McCain's actions would pass his own laugh test. In fact, he's often snickered at his fellow senators who come in at the eleventh hour to lend a hand after McCain has done the hard work. But the McCain campaign is past caring about how journalists (or colleagues) view his moves. He hopes the rest of the country will see this as a leadership moment."
Gee, slate.com ... there's an unbiased source. Might as well come with a tagline: "I'm Barack Obama, and I approve this message"
Slate's relatively unbiased. Leans a bit liberal, Democratic.
Anyway, Slate's absolutely right. There's not going to be anything for McCain to do. He doesn't sit on the committees that are currently investigating and interrogating Paulson and Bernanke. What is he going to be doing there? The negotiations have been occurring behind closed doors while both candidates were out in the country.
Actually, I was kind of iffy on whether he really believed that he was going back to do some good work, but it's pretty obvious that until the vote comes up, there's not going to be much for him to do.
Man you don't know what the hell you are talking about.
McCain AND Obama are Sanators. This Financial situation includes them 100%. Its part of their job to get involved in it. Its a smart move by McCain to sugest this. Its a extremely important situation going on here. Do you read the news?
Pathetic. Tell me exactly how Obama and McCain canceling will suddenly improve our economy. They can fly anywhere within a matter of hours. All these talking points are a complete joke. It's the blind following the stupid. Get your head out of your ass.
Slate's relatively unbiased. Leans a bit liberal, Democratic.
Anyway, Slate's absolutely right. There's not going to be anything for McCain to do. He doesn't sit on the committees that are currently investigating and interrogating Paulson and Bernanke. What is he going to be doing there? The negotiations have been occurring behind closed doors while both candidates were out in the country.
Actually, I was kind of iffy on whether he really believed that he was going back to do some good work, but it's pretty obvious that until the vote comes up, there's not going to be much for him to do.
I agree, there's no reason for McCain to be there right now. Here's what Barney Frank said about John McCain suddenly wanting to help. Pretty good stuff.
By Richard Cowan and Thomas Ferraro
2 hours, 35 minutes ago
WASHINGTON (Reuters) - Democratic Rep. Barney Frank said on Wednesday Democrats had reached an agreement to stem one of the worst U.S. financial disasters in decades, and that there would be enough votes to pass the measure and send it to President George W. Bush to sign into law.
"We now have between House and Senate Democrats an agreement on what we think should be in the bill, and we have a meeting scheduled at 10 a.m. tomorrow to meet with the Republicans," said Frank, chairman of the House of Representatives Financial Services Committee.
Proponents of a rescue plan have expressed hope that a bill could be delivered to Bush within days.
While the Bush administration had asked Congress for $700 billion for an unprecedented Wall Street bailout, Frank said that amount might not be delivered all at once.
"One tranche doesn't work," he said, adding that "safeguards" were needed.
Frank said there would be tough congressional oversight of as well as limits on compensation packages for executives of companies that receive federal relief.
The Massachusetts senator said a limited number of details still had to be resolved, but thought it could be done quickly. These matters involved bankruptcy protections for families on the verge of losing their homes and giving the government a return on its money if the company being helped prospers.
Frank took a dig at Republican presidential nominee John McCain, who interrupted his campaign to return to Washington on Thursday to help work on a Wall Street bailout.
"All of sudden, now that we are on the verge of making a deal, John McCain here drops himself in to help us make a deal, Frank said.
He expressed fear that McCain, a U.S. senator from Arizona who has spent much of the year away from the Capitol campaigning, could end up slowing down work on the bill.
The Massachusetts Democrat noted that a meeting on Capitol Hill on Thursday will be interrupted for a "photo op" at the White House with congressional Democrats and Republicans as well as Bush.
"We're trying to rescue the economy, not the McCain campaign," Frank said.
"Earlier today it became clear to me we would get the votes to pass this bill," Frank told CNBC in an earlier interview. He said it could take a few days to craft final legislation.
Frank spoke shortly after Bush delivered a nationally televised address in which he warned that the United States was in the midst of a financial crisis that could push the economy into a long-term recession if the government did not act.
Frank said he was pleased that the president spoke after calls by Democrats in Congress that he explain to the nation what was at stake. Democrats blamed the crisis largely on the failure of Bush to adequately regulate the financial industry.
Frank said that lawmakers writing the legislation have kept the Bush administration informed of what they intend to do.
"We know very well what Treasury and the Federal Reserve think would make this unworkable. I do not think we will have anything in here that they think would make it unworkable," Frank said.
The issue of government controls on compensation for executives of corporations that participate in the bailout had ignited a firestorm, with Americans complaining to their representatives in Congress that these corporate chiefs shouldn't be rewarded for failure.
"On the executive compensation thing, it went to the core of their (the Bush administration's) being," said Frank. "It was like asking the chief rabbi of Jerusalem to eat bacon on Yom Kippur. It was the most unthinkable thing they could think of."
Did Letterman actually say that? That's pretty sweet, if so.
This whole thing pisses me off. This reeks of playing politics and the fact is proven by the timelines. McCain is going to look like an absolute fool, because sorry, as the "leader of the free world" one had better be able to strike a balance between critical issues without having to call a time-out. That's just incredibly fucking WEAK. They can both have their say in Washington without postponing the debate. This shouldn't even be an issue because the government shouldn't be bailing out anyone in the almighty capitalistic US of A and certainly not a government that dragged everyone into such a mess in the first place.
To Thecure: quit whining about Obama going to Berlin. Since you apparently can't see beyond your front porch, let me crack an egg of knowledge for you: There are many, many voting Americans who live abroad. I know I'm not just speaking for myself when I say that I am encouraged by a candidate reaching out and speaking to the international community after the US spent the past 8 years pissing all over it. At the very least, it gives us ex-Pats a chance to see a candidate closer to home, or in some cases in person. If you really think that's such a bad thing, please crawl back into your cave and hope that the outside world never comes a knockin'.
why don't people read. i never said that Obama should not go to Berlin, i think it was a smart thing politically. what i did say was a responds to another comment that stated that McCain has time to go to the clinton thing today but now wants to suspend his campaign to go to washigton to you know do his job. Obama stated in his speech that he was not there as a person running for president but was there as a citizen of the world.
one last thing, a debate is a critical issue. as critical as the economy. lets be realistic.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
"We now have between House and Senate Democrats an agreement on what we think should be in the bill, and we have a meeting scheduled at 10 a.m. tomorrow to meet with the Republicans," said Frank, chairman of the House of Representatives Financial Services Committee.
[/b]
Does it bother anyone that even when dealing with a huge crisis, the parties have to separate to come up with a plan and then hash it out? Shouldn't this have been done in a bi-partisan effort from the beginning? Yet, will all just re-elect are 36 year senators.
UPDATE: McCain senior adviser Mark Salter emails: "Yesterday, Harry Reid said that consensus couldn't be achieved without John McCain's leadership. John stepped up and is providing that leadership. Now Senator Reid seems to have changed his mind for reasons we'll let him explain. But what he should understand is that this isn't about Harry Reid or John McCain or Barack Obama. It's about the American people and, in the words of Warren Buffet, the financial Pearl Harbor they're facing. John's committed to doing his part to help avert that calamity. We hope Senator Reid is too."
---
The latest word in, both McCain and Obama will be at the White House today working in this issue, and it will show just how impotent Harry Reid truly is as a leader.
Well not that this is scientific by any means, but listening to Sirus Patriot radio, for those that don't know it's a conservative radio station, last night and this morning it seems that the majority of caller viewed McCain decision as a negative. They expressed that even though they did not agree with Obama as a candidate they felt that he came off as being "more presidential" in his decision. One caller, not that I agreed with his statement but found it interesting, so it as a move by the McCain campaign not to delay his debate but as a means to delay the VP debate. The McCain campaign has suggested that the debate be rescheduled for next Thursday, the day the VP debate was to be held. This would cause the VP debate to be pushed back as well and being that Palin has had some trouble with her responses during the Gibson and Couric interview it would buy more time to prepare her. Again I don't necessarily agree with that sentiment but I thought I would throw it out there to see what everyone else thought of it.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
Pathetic. Tell me exactly how Obama and McCain canceling will suddenly improve our economy. They can fly anywhere within a matter of hours. All these talking points are a complete joke. It's the blind following the stupid. Get your head out of your ass.
Obama or mcCain will be president in the new year, i think that it is important that both these people be a part of this issue. McCain and Obama can rally their party to get behind whatever plan that is issued. i hope that no-on eis dumb enought to believe that by cancelling the debate is going to turn the economy around right away but i do believe that Mccain and Obama should be there.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Obama or mcCain will be president in the new year, i think that it is important that both these people be a part of this issue. McCain and Obama can rally their party to get behind whatever plan that is issued. i hope that no-on eis dumb enought to believe that by cancelling the debate is going to turn the economy around right away but i do believe that Mccain and Obama should be there.
A part of this crisis is also consumer confidence in the market and our economy at this point. Look what happened yesterday after Warren Buffet injected $5 billion into Goldman Sachs. It could be said that having our two presidential candidates present their ideas and plan to the people may restore, at least, a little confidence.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
A part of this crisis is also consumer confidence in the market and our economy at this point. Look what happened yesterday after Warren Buffet injected $5 billion into Goldman Sachs. It could be said that having our two presidential candidates present their ideas and plan to the people may restore, at least, a little confidence.
thats also true. but this debate on friday is on foreign affairs. why not change the debate to the economy.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
thats also true. but this debate on friday is on foreign affairs. why not change the debate to the economy.
I'm all for that, but I believe it was cincy who pointed this out, the preperation for the debate has been going on for sometime. Preparing questions, research on candidates voting records, etc... It would be pretty difficult to just turn around on such short notice and prepare for a debate on the economy.
I personally feel that they should scrap the debate and allow each candidate 15-20 minutes to present their case on the economy followed by a 5-10 minutes rebuttal from the opponent and then open it up to questions from the audience.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
I'm all for that, but I believe it was cincy who pointed this out, the preperation for the debate has been going on for sometime. Preparing questions, research on candidates voting records, etc... It would be pretty difficult to just turn around on such short notice and prepare for a debate on the economy.
I personally feel that they should scrap the debate and allow each candidate 15-20 minutes to present their case on the economy followed by a 5-10 minutes rebuttal from the opponent and then open it up to questions from the audience.
thats a great idea. i never understood why people call these things debates. what about a conversation where both McCain and Obama talking.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
thats a great idea. i never understood why people call these things debates. what about a conversation where both McCain and Obama talking.
Exactly. I mean how much can your really tell the public about you plans and where yo stand on an issue when you only get 3 minutes to express yourself.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
One caller, not that I agreed with his statement but found it interesting, so it as a move by the McCain campaign not to delay his debate but as a means to delay the VP debate. The McCain campaign has suggested that the debate be rescheduled for next Thursday, the day the VP debate was to be held. This would cause the VP debate to be pushed back as well and being that Palin has had some trouble with her responses during the Gibson and Couric interview it would buy more time to prepare her.
this Palin thing completely blows my mind... everyone knows she is way out of her league and that she has to be "prepared" by the Mccain/GOP handlers... i mean seriously, who doesnt know this right?
i still dont understand how any educated human being could vote for a ticket with her on it... for that matetr i cant understand how any human that has been on the planet the last 8 years could vote for the GOP at this point either
thats also true. but this debate on friday is on foreign affairs. why not change the debate to the economy.
I think that they will both be asked about the economy and this mess, but I think that if you had a debate now on the economy, we'd get 90 minutes of the same questions and answers about a plan that is still being worked on. Neither candidate seems willing to take a hard position on it, except the buzzwords of oversight, helping main street, etc., so I can't see a debate right now on the economy being worth much.
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Can someone please explain to me in the most simple terms possible what John McCain can actually add to these negotiations?
Up until last week this gear box was out there babbling about how the fundementals of the economy were strong.
Where was Johnny Boy last week?
Doesn't it seem a little obvious that it wasn't until his poll numbers began to drop like the panties on a $5 whore before he decided to get on his "Maverick" horse and ride on into D.C
McCain is a snake. I hope this blows up in his fucking face.
I think that they will both be asked about the economy and this mess, but I think that if you had a debate now on the economy, we'd get 90 minutes of the same questions and answers about a plan that is still being worked on. Neither candidate seems willing to take a hard position on it, except the buzzwords of oversight, helping main street, etc., so I can't see a debate right now on the economy being worth much.
but can the same not be said about foreign affairs. i believe that both Obama and mcCain don't understand what is happenning with the economy and it is showing.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Can someone please explain to me in the most simple terms possible what John McCain can actually add to these negotiations?
Up until last week this gear box was out there babbling about how the fundementals of the economy were strong.
Where was Johnny Boy last week?
Doesn't it seem a little obvious that it wasn't until his poll numbers began to drop like the panties on a $5 whore before he decided to get on his "Maverick" horse and ride on into D.C
McCain is a snake. I hope this blows up in his fucking face.
mccain can advocate with his party to get things past same as Obama. one of these people are going to be president and have to deal with this issues. i don't get this, why don't people want both Mccain and Obama there. they will be running the country soon enought.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
i agree with the points made about pushing back the VP debate. they know just as well as we do that Palin is not ready for a debate. so if we're supposed to see 4 debates in what, the next 18-19 days....Olberman made a point last night that these debates take a lot of time to plan. Scheduling, clearing time of networks, facilities, etc...
his fear was that the VP debate would be scrapped entirely. i'd say that is a legitimate concern. because when it comes down to it, they'll go w/ the pres debate over the VP debate if time/planning only allows for 3 debates.
if i were Obama, i would do everything i could to help out w/ the economic plan..then stick to my guns & call for McCain to attend the already scheduled & planned debate. his point about a president having to worry/contend with more than just one thing at a time was right on. if time is so valuable, hold it in DC. and if the economy is THE topic right now---debate about it! and save the foreign policy for the next round. this seems like common sense to me.
McCain is slipping, and so is his running mate. and they know it. sounds like stall tactics to me..re-shift the focus away from them for a bit.
mccain can advocate with his party to get things past same as Obama. one of these people are going to be president and have to deal with this issues. i don't get this, why don't people want both Mccain and Obama there. they will be running the country soon enought.
Couldn't agree more... If anything having Obama and McCain involved will overly politicize this whole thing.
I can't imagine that any of the legislators who are really involved in the negotiations wants the candidates (and the media circus that follows them) to be there.
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
I thought we were a nation of "whiners" and that the "fundamentals of the economy were strong"? Oh, thats right, you already told us you "don't know much about the economy".
it's an assumption. if it came down to having to cancel ONE debate out of the four, which one would be canceled? there's a really good chance that it would be the VP debate.
mccain can advocate with his party to get things past same as Obama. one of these people are going to be president and have to deal with this issues. i don't get this, why don't people want both Mccain and Obama there. they will be running the country soon enought.
I don't think it's that people don't want them there. It's the fact that, unless there is going to be a vote, they don't physically need to be there. Talks can be carried out over a phone. If McCain or Obama need to light a fire under their party's ass it can be done without being in DC. Bill Bennett brought up a good point this morning when he asked if McCain thought that 98% of the Senate was incapable of handling this situation.
I don't know McCain's real reason for doing this and I'm not going to speculate but just from the comments I've heard from other people, even callers to conservative radio shows, they don't seem to understand the move either. As I've stated before I don't support either candidate so I have no reason to glorify one while vilifying the other, I dislike them both equally, but this does come off as a desperate move by McCain.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
Couldn't agree more... If anything having Obama and McCain involved will overly politicize this whole thing.
I can't imagine that any of the legislators who are really involved in the negotiations wants the candidates (and the media circus that follows them) to be there.
i am guessing you mean to have said that you could not disagree more. i get your point but i still believe that having the next leader of yoru country being there is more important. thats just me.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
UPDATE: McCain senior adviser Mark Salter emails: "Yesterday, Harry Reid said that consensus couldn't be achieved without John McCain's leadership. John stepped up and is providing that leadership. Now Senator Reid seems to have changed his mind for reasons we'll let him explain. But what he should understand is that this isn't about Harry Reid or John McCain or Barack Obama. It's about the American people and, in the words of Warren Buffet, the financial Pearl Harbor they're facing. John's committed to doing his part to help avert that calamity. We hope Senator Reid is too."
---
The latest word in, both McCain and Obama will be at the White House today working in this issue, and it will show just how impotent Harry Reid truly is as a leader.
Next time post the WHOLE story not just some supposedly e-mail response by an opposing campaign worker.
Reid to McCain: Don't Come Back to Capitol
September 24, 2008 5:14 PM
A Democrat tells ABC News that, in a phone call late this afternoon, Senate Majority Leader Harry Reid, D-Nev., told Sen. John McCain, R-Ariz., that it would NOT be helpful for him to come back to Washington, D.C., to work on the Wall Street bailout bill.
McCain this afternoon suspended his campaign and said he would skip the first presidential debate in order to return to Capitol Hill to work on the log-jammed Bush administration legislation, which, as of Wednesday afternoon, was in peril.
McCain had phoned Reid to ask about the prospects of him, Sen. Barack Obama, D-Ill., and others to sit down and work together on hammering out a bipartisan proposal.
"Sorry," Reid said to him, a Democrat close to Reid says.
Reid then read McCain the statement he had just put out: "This is a critical time for our country," says the Reid statement. "While I appreciate that both candidates have signaled their willingness to help, Congress and the administration have a process in place to reach a solution to this unprecedented financial crisis. I understand that the candidates are putting together a joint statement at Sen. Obama’s suggestion. But it would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation’s economy. If that changes, we will call upon them. We need leadership; not a campaign photo op. If there were ever a time for both candidates to hold a debate before the American people about this serious challenge, it is now.”
A source close to Reid said McCain didn't have much to say after that. Reid, the source says, thinks McCain's maneuver is a gimmick born from bad poll numbers and the fact that "debate prep must not be going very well."
============
Reid Disses McCain's Plan to Come to DC: 'Trying to Divert Attention From His Failing Campaign'
September 24, 2008 8:08 PM
Senate Majority Leader Harry Reid, D-Nev., just took some swipes at Sen. John McCain, R-Ariz., at a press availability with Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, after the Democratic Senate Caucus met this evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.
Reid sneered at McCain's plans to cancel his campaigning -- including his participation in Friday night's debate -- to return to the Capitol to work on the Wall Street bailout bill.
"It appears to me John McCain is trying to divert attention to his failing campaign," said Reid. "He can spare an hour and a half of his time and participate in that debate."
Reid re-told the story ABC News reported earlier, that McCain called Reid to offer his help and Reid read him the statement he'd already issued, implying McCain's plans were nothing more than "a campaign photo op."
"With all due respect to my friend John McCain," said Reid -- showing not a great deal of respect for a man who is not necessarily his friend -- "we're doing just fine. This should not have presidential politics doing here."
Reid suggested that McCain wouldn't have any ideas that aren't already being bandied about, though he said McCain wouldn't be barred from participating.
"There is not a suggestion that we heard, with Bernanke and Paulson just now, that Chairman Dodd is not taking into consideration," Reid said. "Chairman Dodd is keeping no one out of meetings. Anyone has the ability to call him -- Democrat or Republican, whoever wants to talk to him."
Reid made one more reference to McCain's "failing campaign" and ended the press availability, as pledged, after four questions.
SIN EATERS--We take the moral excrement we find in this equation and we bury it down deep inside of us so that the rest of our case can stay pure. That is the job. We are morally indefensible and absolutely necessary.
I don't think it's that people don't want them there. It's the fact that, unless there is going to be a vote, they don't physically need to be there. Talks can be carried out over a phone. If McCain or Obama need to light a fire under their party's ass it can be done without being in DC. Bill Bennett brought up a good point this morning when he asked if McCain thought that 98% of the Senate was incapable of handling this situation.
I don't know McCain's real reason for doing this and I'm not going to speculate but just from the comments I've heard from other people, even callers to conservative radio shows, they don't seem to understand the move either. As I've stated before I don't support either candidate so I have no reason to glorify one while vilifying the other, I dislike them both equally, but this does come off as a desperate move by McCain.
i also don't like both people, but i don't agree with Bill bennett. its not that teh senate can't handle this but i would want my next president to be there. you know, do you remember back to 911 people complained that Bush took this amount of time to leave that school. Hell even Michael Moore did it in his movie. but in reality what could Bush have done at that moment in reality. the complaint that i agree with with is that he was teh president and people had to feel that he was working on it. that is what i want Obama and McCain to do. give peopel the confidences that teh next president is going to be there when the times are rough. is that stupid maybe but i have only had a pot of coffee right now.
People demand freedom of speech to make up for the freedom of thought which they avoid."
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Comments
Gee, slate.com ... there's an unbiased source. Might as well come with a tagline: "I'm Barack Obama, and I approve this message"
for the least they could possibly do
Slate's relatively unbiased. Leans a bit liberal, Democratic.
Anyway, Slate's absolutely right. There's not going to be anything for McCain to do. He doesn't sit on the committees that are currently investigating and interrogating Paulson and Bernanke. What is he going to be doing there? The negotiations have been occurring behind closed doors while both candidates were out in the country.
Actually, I was kind of iffy on whether he really believed that he was going back to do some good work, but it's pretty obvious that until the vote comes up, there's not going to be much for him to do.
Pathetic. Tell me exactly how Obama and McCain canceling will suddenly improve our economy. They can fly anywhere within a matter of hours. All these talking points are a complete joke. It's the blind following the stupid. Get your head out of your ass.
I agree, there's no reason for McCain to be there right now. Here's what Barney Frank said about John McCain suddenly wanting to help. Pretty good stuff.
http://news.yahoo.com/s/nm/20080925/pl_nm/us_financial_bailout_deal_1
By Richard Cowan and Thomas Ferraro
2 hours, 35 minutes ago
WASHINGTON (Reuters) - Democratic Rep. Barney Frank said on Wednesday Democrats had reached an agreement to stem one of the worst U.S. financial disasters in decades, and that there would be enough votes to pass the measure and send it to President George W. Bush to sign into law.
"We now have between House and Senate Democrats an agreement on what we think should be in the bill, and we have a meeting scheduled at 10 a.m. tomorrow to meet with the Republicans," said Frank, chairman of the House of Representatives Financial Services Committee.
Proponents of a rescue plan have expressed hope that a bill could be delivered to Bush within days.
While the Bush administration had asked Congress for $700 billion for an unprecedented Wall Street bailout, Frank said that amount might not be delivered all at once.
"One tranche doesn't work," he said, adding that "safeguards" were needed.
Frank said there would be tough congressional oversight of as well as limits on compensation packages for executives of companies that receive federal relief.
The Massachusetts senator said a limited number of details still had to be resolved, but thought it could be done quickly. These matters involved bankruptcy protections for families on the verge of losing their homes and giving the government a return on its money if the company being helped prospers.
Frank took a dig at Republican presidential nominee John McCain, who interrupted his campaign to return to Washington on Thursday to help work on a Wall Street bailout.
"All of sudden, now that we are on the verge of making a deal, John McCain here drops himself in to help us make a deal, Frank said.
He expressed fear that McCain, a U.S. senator from Arizona who has spent much of the year away from the Capitol campaigning, could end up slowing down work on the bill.
The Massachusetts Democrat noted that a meeting on Capitol Hill on Thursday will be interrupted for a "photo op" at the White House with congressional Democrats and Republicans as well as Bush.
"We're trying to rescue the economy, not the McCain campaign," Frank said.
"Earlier today it became clear to me we would get the votes to pass this bill," Frank told CNBC in an earlier interview. He said it could take a few days to craft final legislation.
Frank spoke shortly after Bush delivered a nationally televised address in which he warned that the United States was in the midst of a financial crisis that could push the economy into a long-term recession if the government did not act.
Frank said he was pleased that the president spoke after calls by Democrats in Congress that he explain to the nation what was at stake. Democrats blamed the crisis largely on the failure of Bush to adequately regulate the financial industry.
Frank said that lawmakers writing the legislation have kept the Bush administration informed of what they intend to do.
"We know very well what Treasury and the Federal Reserve think would make this unworkable. I do not think we will have anything in here that they think would make it unworkable," Frank said.
The issue of government controls on compensation for executives of corporations that participate in the bailout had ignited a firestorm, with Americans complaining to their representatives in Congress that these corporate chiefs shouldn't be rewarded for failure.
"On the executive compensation thing, it went to the core of their (the Bush administration's) being," said Frank. "It was like asking the chief rabbi of Jerusalem to eat bacon on Yom Kippur. It was the most unthinkable thing they could think of."
why don't people read. i never said that Obama should not go to Berlin, i think it was a smart thing politically. what i did say was a responds to another comment that stated that McCain has time to go to the clinton thing today but now wants to suspend his campaign to go to washigton to you know do his job. Obama stated in his speech that he was not there as a person running for president but was there as a citizen of the world.
one last thing, a debate is a critical issue. as critical as the economy. lets be realistic.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Does it bother anyone that even when dealing with a huge crisis, the parties have to separate to come up with a plan and then hash it out? Shouldn't this have been done in a bi-partisan effort from the beginning? Yet, will all just re-elect are 36 year senators.
That's actually really funny.
Interesting.
Obama or mcCain will be president in the new year, i think that it is important that both these people be a part of this issue. McCain and Obama can rally their party to get behind whatever plan that is issued. i hope that no-on eis dumb enought to believe that by cancelling the debate is going to turn the economy around right away but i do believe that Mccain and Obama should be there.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
A part of this crisis is also consumer confidence in the market and our economy at this point. Look what happened yesterday after Warren Buffet injected $5 billion into Goldman Sachs. It could be said that having our two presidential candidates present their ideas and plan to the people may restore, at least, a little confidence.
thats also true. but this debate on friday is on foreign affairs. why not change the debate to the economy.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
I'm all for that, but I believe it was cincy who pointed this out, the preperation for the debate has been going on for sometime. Preparing questions, research on candidates voting records, etc... It would be pretty difficult to just turn around on such short notice and prepare for a debate on the economy.
I personally feel that they should scrap the debate and allow each candidate 15-20 minutes to present their case on the economy followed by a 5-10 minutes rebuttal from the opponent and then open it up to questions from the audience.
thats a great idea. i never understood why people call these things debates. what about a conversation where both McCain and Obama talking.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Exactly. I mean how much can your really tell the public about you plans and where yo stand on an issue when you only get 3 minutes to express yourself.
this Palin thing completely blows my mind... everyone knows she is way out of her league and that she has to be "prepared" by the Mccain/GOP handlers... i mean seriously, who doesnt know this right?
i still dont understand how any educated human being could vote for a ticket with her on it... for that matetr i cant understand how any human that has been on the planet the last 8 years could vote for the GOP at this point either
I think that they will both be asked about the economy and this mess, but I think that if you had a debate now on the economy, we'd get 90 minutes of the same questions and answers about a plan that is still being worked on. Neither candidate seems willing to take a hard position on it, except the buzzwords of oversight, helping main street, etc., so I can't see a debate right now on the economy being worth much.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Up until last week this gear box was out there babbling about how the fundementals of the economy were strong.
Where was Johnny Boy last week?
Doesn't it seem a little obvious that it wasn't until his poll numbers began to drop like the panties on a $5 whore before he decided to get on his "Maverick" horse and ride on into D.C
McCain is a snake. I hope this blows up in his fucking face.
but can the same not be said about foreign affairs. i believe that both Obama and mcCain don't understand what is happenning with the economy and it is showing.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
mccain can advocate with his party to get things past same as Obama. one of these people are going to be president and have to deal with this issues. i don't get this, why don't people want both Mccain and Obama there. they will be running the country soon enought.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
his fear was that the VP debate would be scrapped entirely. i'd say that is a legitimate concern. because when it comes down to it, they'll go w/ the pres debate over the VP debate if time/planning only allows for 3 debates.
if i were Obama, i would do everything i could to help out w/ the economic plan..then stick to my guns & call for McCain to attend the already scheduled & planned debate. his point about a president having to worry/contend with more than just one thing at a time was right on. if time is so valuable, hold it in DC. and if the economy is THE topic right now---debate about it! and save the foreign policy for the next round. this seems like common sense to me.
McCain is slipping, and so is his running mate. and they know it. sounds like stall tactics to me..re-shift the focus away from them for a bit.
www.cluthelee.com
www.cluthe.com
i just read that article and no where does it say that they would cancel teh VP debate.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Couldn't agree more... If anything having Obama and McCain involved will overly politicize this whole thing.
I can't imagine that any of the legislators who are really involved in the negotiations wants the candidates (and the media circus that follows them) to be there.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
I thought we were a nation of "whiners" and that the "fundamentals of the economy were strong"? Oh, thats right, you already told us you "don't know much about the economy".
what a joke
www.cluthelee.com
www.cluthe.com
I don't think it's that people don't want them there. It's the fact that, unless there is going to be a vote, they don't physically need to be there. Talks can be carried out over a phone. If McCain or Obama need to light a fire under their party's ass it can be done without being in DC. Bill Bennett brought up a good point this morning when he asked if McCain thought that 98% of the Senate was incapable of handling this situation.
I don't know McCain's real reason for doing this and I'm not going to speculate but just from the comments I've heard from other people, even callers to conservative radio shows, they don't seem to understand the move either. As I've stated before I don't support either candidate so I have no reason to glorify one while vilifying the other, I dislike them both equally, but this does come off as a desperate move by McCain.
i am guessing you mean to have said that you could not disagree more.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)
Next time post the WHOLE story not just some supposedly e-mail response by an opposing campaign worker.
Reid to McCain: Don't Come Back to Capitol
September 24, 2008 5:14 PM
A Democrat tells ABC News that, in a phone call late this afternoon, Senate Majority Leader Harry Reid, D-Nev., told Sen. John McCain, R-Ariz., that it would NOT be helpful for him to come back to Washington, D.C., to work on the Wall Street bailout bill.
McCain this afternoon suspended his campaign and said he would skip the first presidential debate in order to return to Capitol Hill to work on the log-jammed Bush administration legislation, which, as of Wednesday afternoon, was in peril.
McCain had phoned Reid to ask about the prospects of him, Sen. Barack Obama, D-Ill., and others to sit down and work together on hammering out a bipartisan proposal.
"Sorry," Reid said to him, a Democrat close to Reid says.
Reid then read McCain the statement he had just put out: "This is a critical time for our country," says the Reid statement. "While I appreciate that both candidates have signaled their willingness to help, Congress and the administration have a process in place to reach a solution to this unprecedented financial crisis. I understand that the candidates are putting together a joint statement at Sen. Obama’s suggestion. But it would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation’s economy. If that changes, we will call upon them. We need leadership; not a campaign photo op. If there were ever a time for both candidates to hold a debate before the American people about this serious challenge, it is now.”
A source close to Reid said McCain didn't have much to say after that. Reid, the source says, thinks McCain's maneuver is a gimmick born from bad poll numbers and the fact that "debate prep must not be going very well."
============
Reid Disses McCain's Plan to Come to DC: 'Trying to Divert Attention From His Failing Campaign'
September 24, 2008 8:08 PM
Senate Majority Leader Harry Reid, D-Nev., just took some swipes at Sen. John McCain, R-Ariz., at a press availability with Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, after the Democratic Senate Caucus met this evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.
Reid sneered at McCain's plans to cancel his campaigning -- including his participation in Friday night's debate -- to return to the Capitol to work on the Wall Street bailout bill.
"It appears to me John McCain is trying to divert attention to his failing campaign," said Reid. "He can spare an hour and a half of his time and participate in that debate."
Reid re-told the story ABC News reported earlier, that McCain called Reid to offer his help and Reid read him the statement he'd already issued, implying McCain's plans were nothing more than "a campaign photo op."
"With all due respect to my friend John McCain," said Reid -- showing not a great deal of respect for a man who is not necessarily his friend -- "we're doing just fine. This should not have presidential politics doing here."
Reid suggested that McCain wouldn't have any ideas that aren't already being bandied about, though he said McCain wouldn't be barred from participating.
"There is not a suggestion that we heard, with Bernanke and Paulson just now, that Chairman Dodd is not taking into consideration," Reid said. "Chairman Dodd is keeping no one out of meetings. Anyone has the ability to call him -- Democrat or Republican, whoever wants to talk to him."
Reid made one more reference to McCain's "failing campaign" and ended the press availability, as pledged, after four questions.
i also don't like both people, but i don't agree with Bill bennett. its not that teh senate can't handle this but i would want my next president to be there. you know, do you remember back to 911 people complained that Bush took this amount of time to leave that school. Hell even Michael Moore did it in his movie. but in reality what could Bush have done at that moment in reality. the complaint that i agree with with is that he was teh president and people had to feel that he was working on it. that is what i want Obama and McCain to do. give peopel the confidences that teh next president is going to be there when the times are rough. is that stupid maybe but i have only had a pot of coffee right now.
- Soren Aabye Kierkegaard (1813-1855)
If you haven't got anything nice to say about anybody, come sit next to me."
- Alice Roosevelt Longworth (1884-1980)