House GOP Aides: McCain "Not Familiar With The Details" Of Bailout

Think Progress:

Bailout negotiations "dissolved into a verbal brawl" at the White House yesterday, as some House Republicans, led by Eric Cantor (R-VA), said they wouldn't back a bipartisan negotiation on the package. The House GOP faction stunned the participants at the meeting yesterday by announcing their own plan which "advocates tax cuts and relaxed regulations."

Treasury Secretary Henry Paulson has said the House GOP proposal would not work. "Democratic leaders questioned McCain's involvement in the House Republicans' opposition to the plan." McCain met with House GOP leaders before heading to the White House, but neither party seemed to know what they were talking about.

Read the whole story: Think Progress

Comments

[BrighterStar]

Since the details are not established how could he be familiar with them?

[jeffp26]

Other than how to cheat on your sick wife, what is McStoopid familiar with??????

[nellie]

McClatchy:
Is the bailout needed? Many economists say 'no'
http://www.mcclatchydc.com/226/story/53107.html

[LemonMeringue]

Mr. Iraq War and Mr. Keating Five have told us terrible things will happen if we do not do what they want and give them $700 billion of our money.

How many times will those two lie to the American people and still get followers?

JUST SAY NO

Call Bush on his B.S. Contact your senators and representatives and say NO BAILOUT. Please.

[StillAmused]

Over protests from the McCain campaign, Lieberman and Graham weren't admitted to the meeting, so there was no one to whisper in his ear and no one to lick his tie flat.

[nellie]

This is Bush's plan. The Dems don't need to fight for this. We've already bailed out the major players. Where the hell is this $700 billion going to go? WaMu just got bought. Freddie and Fannie are covered. Lehman is covered. Merrill Lynch is now B of A.

Why do we need to send this pack of thieves another $700 billion.

LET IT GO, DEMS.

If the Republicans aren't behind Bush's plan, then let it go.

[jrterrier]

This is like taking Rumsfeld and Cheney, in the middle of the Iraq debacle, and letting them dictate how to remedy the situation. Why did the DEMs not invite a single outside economist or industrialist or Wall Street banker to explain the situation and provide an antidote.

[piper1233]

Here Here!

[LemonMeringue]

It strikes me this is a gift. Democrats have an opportunity to just say no to President Mushroom Cloud.

Democrats can say they tried - and deflect any criticism that any further economic problems are their fault.

SAY NO TO THE BAILOUT

[PioneerKing]

McClueless

McClueless to the rescue.
Why do the folks in the main stream media continue to allow McCain's campaign control the media? These folks are talking about McCain's gamble when they should be talking about McCain not being prepared. They should demand specifics from McCain about what he wants in the bailout and not just generic talking points.

[Keith52]

The GOP is a mess, period. I hope the debate this evening goes this well for them.

[oneeyedodin]

Deal..No Deal...

[jrterrier]

There never was a deal. The DEMS rushed to the cameras to say there was a deal because they wanted to deny any possibility that McCain could take credit for a deal. Even as Sen Boxer and other DEMS were going before the cameras touting the deal, Sen Shelby, the ranking REP on the Senate Banking Committee was waiving a letter he claimed to have received from 200 esteemed economists from Harvard, Yale, the U of Chicago and other lofty places explaining that the Paulsen plan was hogwash.

[FredOCal]

Wow. The levels of ignorance here astound me. I am a lifelong progressive and disagree with the Republican party on EVERY social issue, as well as the war in Iraq. I got out the vote for John Kerry in 2004 and am proud to say he won PA, where my mom and I went door to door. But please realize this: the Republican minority who stopped this bill from passing may have just saved our nation. It still might pass, and that would be the worst thing that can happen. The economy is going to crash regardless of what happens. But if what is left of our government is gutted in the process with Hank Paulson's $700 billion dollar revolving line of credit, there will be nothing left when things do get bad. No medicare, no social security, no schools. Please read up on this!!! And read the bill along with an explanation of each fascist section here: http://market-ticker.denninger.net/archives/2008/09/20.html,

[MissingAmerica]

The GOP have totally lost sight of what is good for this country. Tax cuts and relaxed regulations are a large part of what has gone wrong. We've had no money because the wealthy are getting the breaks, and the deregulation of which McCain was a mastermind has been a total failure, resulting in bankrupting this country. I have a great idea. Why don't we take these diehard Bushites, and Bush and his crew, and send them to Iraq to rule! That sectarian need for violence and chaos seems to be more their mindset.

[jrterrier]

You people are the ones who have totally lost sight of what is good for the country. two weeks ago you wanted W impeached. Today, your are taking his Economic WMD speech as god's truth.

It is unbelievable. At least when he gave his WMD speech, he believed it and gave a good performance. Two nights ago, he sounded like an SNL parody of himself and you are still following him over the abyss into a trillion dollar deal for his buddies. Who needs no-bid Haliburton contracts, when DEMs are leading the parade to give away our money.

[norkas]

jrterrier you are like Mc Cai njust talk and never listening. Spinning bull chit that is not true. Did you real the Republican and Democrat proposals so far/ Of course you did not. You just shoot your mouth off without looking at the facts,

[foxbat]

Telling in all of this is the contradictory stance within McCain himself. At the start of things, he says the economy is strong. A couple of days later, it's in bad shape ... a week later it's so bad that the campaign has to be "suspended" and the debate postponed, yet when questioned to take a stand on the bailout proposal he responded that he hadn't read the proposal. He acknowledged that he received it on a Monday, but hadn't reviewed it by Tuesday of this week. Incidentally, the proposal was only 2 1/2 pages in length. If a presidential candidate can't read a proposal for a $700 billion bailout in the worst financial crisis since WWII, but claims it's so crucial, what does that say?

It doesn't surprise me that he's not familiar with the details. I would venture a guess that he's not necessarily well-versed in general economics. I don't expect him to be a world-expert in economics, but I do believe that he should be willing to get substantively involved in getting up to speed on what's going on; especially if he's going to use it as a political football.

[jrterrier]

The economy is strong. It's the thieves on wall street who want to be bailed out. Buffett had $5 billion to invest just this week and already made nearly $1 billion in profit. That is going to be repeated all over again every few minutes once we suckers bail out the Wall Street profiteers.

Do you think they didn't know they were holding questionable mortgage securities when they gave themselves $62 billion in bonuses in 2006.

Wake up people. The kool-aid should not cloud your minds completely.

[Viper]

I trust Warren Buffet... and he says there is no credit... even McDonalds cant get money!

Regards

[jrterrier]

Buffett bought $5 billion of Goldman Sachs stock this week. He needs the bail out to make more than the nearly $1 billion in profit he's already made.

[BluesDogLefty]

Laughable

[VikingQuest]

Is anyone familiar with the details?

People are sneaking in their own personal interests and seems like it is changing every second. Harry Reid even tried to ban oil drilling in the bailout bill.

[milo h minderbinder]

While the details aren't *public*, someone in McCain's position sure as hell should be able to get the details.

[Viper]

Site a source on Reid...

Regards

[milo h minderbinder]

I found the info and it's wrong. Reid tried to add an ammendment to H.R. 2638 which was an appropriations bill that has already passed the house and the senate.

Looks like this Jim DeMint guy found an old proposal and is trying to pass it off as being tied to the current legislation under consideration.