No bailout agreement after McCain, Obama, Bush meet

No bailout agreement after McCain, Obama, Bush meet

www.gmanews.tv

[WASHINGTON - As turmoil on the US financial markets threatened Thursday to upend the presidential campaign and scratch the first debate between Barack Obama and John McCain, it appeared hard bargaining on the Bush administration's $700 billion bailout had failed to seal a deal.

Republican Sen. Richard Shelby emerged from a late afternoon White House meeting that included President George W. Bush, both presidential candidates and top congressional leaders to declare there was no agreement.

(visit the link for the full news article)

This is going now where in the short time. Why? Is the
House Republicans that are opposing the current bill.No problem there IMO, why? The longer they take the better they will sort this out.

But one who looses in all this is Sen. McCain, he was supposed to get to D.C. as the saviour that would get things done quickly but he can't even get the people from his own party to rally behind him. He was supposed to show his leadership skills and I think he would come out looking irrelevant out of this, not exactly what he and his campaign had in mind.

www.gmanews.tv
(visit the link for the full news article)

He's not in any committees because the Dems chair all the committes so his job is after a finished proposal goes before the whole Congress to get people to vote for it. There is nothing to vote for yet.

reply to post by SectionEight


Are you paying attention or watching the news?!

THIS IS A MESS!! Sen. Reid just spoke and said that Sen. McCain has add nothing to the negotiations plus his mere presence through the negotiations off track. Sen. Obama point out the same just a couple of minutes ago. Then two Republican senators in a press conference accused Sen. Dodd and Sen. Reid of taking bribes from Countrywide and others.

IS A MESS! And you can put the blame on Sen. McCain political stunt of showing in Congress like the White Knight to the rescue. Both sides were working just fine before presidential politics were added to the negotiations.

[edit on 25-9-2008 by Bunch]

[edit on 25-9-2008 by Bunch]

I just watched McCain and Obama on the news ...
McCain said ...he has a record of careing more about his country than he does anything else ...he STRESSED THAT ....He also said he has the answers if he were to become president (basically ) ...sure no political motives there ...yeah ok ...

reply to post by Simplynoone


Sen. McCain political stunt has turned into a fiasco, he should have known better than to throw himself in the middle of this and not to think it wouldn't become political! Dems are blaming him, Reps are blaming the Dems and at the core of the issue is that Sen. McCain was supposed to come down and get things done and its the House Republicans who are holding the deal up.

Now let me be clear, the more time they take the better I think is for the regular folk so I'm glad for that, but the notion that Sen. McCain was going to come in a lead this negotiations to a conclusion was nonsense, and now it shows that it was a political stunt that just blew up in his face.

I honestly hope this backfires all over him. He made a rash, illogical, self-serving decision (again) and it's a clear indicator of how he operates.

Paraphrasing: In the name of "Country First", he put himself first to try to rescue his flailing campaign and in the name of not "politicizing" the economic crisis, he blew into Washington and brought politics with him and basically screwed the whole thing up.

I'm with you, Bunch. The longer they take the better. Actually, I don't want this bailout to happen at all. But I'm just speaking as an observer of McCain's selfish tactics. Country First, my ass.

I agree with you on all of the above .

I really dont see how this whole bailout is gonna help matters any at all.
Some said that the rules will make it harder for anyone to buy houses and they would need a pretty good downpayment to buy one ..which will make it hard for houses to sell right now that are on the market ..right when people need to sell them ..

They need to fix this mess down here with us normal folks ..Electricity Expenses,Grocery Costs ,Gas ..so we have money to spend ..to help our economy .

I still think that a war is what they will do in order to really fix this mess .. ..(History repeats) ..did you see that Syria has 10,000 troops on the border of Lebanon right now ...wanting to take the Northern border ...
Pakistan is in an uproar ..Russia is still mouthing off .......so much going on right now ..anything could happen ...

good.... let clear heads thrash out a sane plan...

A sane 'plan' instead of the immediate 'demand' for $700billion right now, with no oversight by anyone but the Fed & the Treasury secretary on how or where to spend the money.


Why did Paulson come storming in & demand the money before the end of September (the 3rd Quarter end)...


does multi billions need to be paid out to foreign CDS that bet the mortgage markets/BearStearns/AIG failures would occur?
Was that the secret revelation that Paulson gave the Finance Committee & high ranking Congress which has still not been made public?

Well the congress better do something before next week or it's gonna be a massacre on monday!

No credit in the markets? Total meltdown.

[edit on 25-9-2008 by Vitchilo]

Im GLAD he went to washington.

I'll be even happier when this bill dies before the Senate.

I'll be elated when I can have my country back!

Instead of individual candidate bashing, I'm looking at the whole picture. And looking at the whole picture I cant help but see nothing more that a bunch of people running around screaming like little kids unable to get anything done.

I mean this si supposed to be some great government of great thinkers and is supposed to work for the people and here they are having brought us to the brink of disaster (or at least been culpable in allowing their controllers..Rothschild's etc...) in causing this mess and and they cant get one thing done.

Boy I tell ya, if I was any terrorist or govt. that wanted to get one over on the good o'l US of A, now is definitely the time.

Mccain suspended his campaign to buy himself some time in the gamble that he would come out looking like a hero... Unfortunately, his gamble failed, he did absolutely nothing useful and it's become clear all he was trying to do was duck the debate to avoid coming in at a disadvantage.

Now he comes into the debate having wasted everyone's time, at the same disadvantage plus an additional, fresh failure; showing his willingness to subvert the democratic process given the opportunity and revealing his lack of confidence.

Originally posted by Vitchilo
No credit in the markets?

Total meltdown.

I think they should leave Fannie, Freddie and the whole bunch of crooks out of it. There's no reason to involve them. Just put $200 billion in the real banks so people can get loans for houses and cars and school and let the huge mortgage companies and the stock market deal with it. Those executives should lose their jobs and have to get a loan themselves.

The stock market is a risk. Sometimes you lose.

ABC News' George Stephanopoulos reports: If Republican presidential candidate Sen. John McCain doesn't vote for the Bush administration's $700 billion economic bailout plan, some Republican and Democratic congressional leaders tell ABC News the plan won't pass.

source


Seems like both party are depending on McCain to decide how they will vote.

One thing is for sure McCain and Obama are both where they should be. As one of their 300million employers I expect them to earn their money in this moment of crisis.

All politics aside. I think for future purposes there should be law that any Congressional member running for President should vacate their seat. It isn't fair to pay them for not doing their job. They also should set a policy on how much legislation they can miss without being punished. There are just too many who are not doing their job.