Reid Blames McCain: Deal Was Done, "Then Guess Who Came To Town?"

Video of Reid is below

Senate Majority Leader Harry Reid held a press conference on Friday morning in which, in the most blatant of terms yet, he blamed John McCain for throwing a wrench into negotiations over a financial bailout package.

"The insertion of presidential politics has not been helpful, it has been harmful," said the Nevada Democrat. "A few days ago I called on Sen McCain to make a stand, to let us know where he stands on the issue, but all he has done is stand in front of the cameras..."

As the majority leader spoke, negotiations over a bailout were feverishly underway. Things seemed to be heading towards a resolution early Thursday morning, but after McCain arrived in Washington a rebellion was launched among the more conservative bloc of House Republicans. Aides to McCain have gone to great lengths to prove their innocence in spurring this revolt. But, Reid as well as other Democrats, were having none of it

"We had [Republican] Senator [Bob] Bennett, a high ranking official, who said these are the principles," Reid said of the early potential compromise on the $700 billion package. "And then, guess who came to town? And it all fell apart."

Appearing alongside Sen. Banking Committee chairman Chris Dodd, Reid said that negotiations had to start essentially from scratch at 8 p.m. last night. Democrats generally refused to vote in favor of the package without bipartisan support. Conservative Republicans, meanwhile, are insisting that other measures -- tax breaks to companies that buy up bad debt as well as temporary cuts in the capital gains tax -- be included in any agreement.

McCain has been stuck somewhere in the middle, not revealing exactly where he stands. In the process, he has, critics claim, done exactly what he pledged not do do: add unnecessary politics to the equation. Aides to McCain have responded by blaming the breakdown on the ills of Washington partisanship.

"John McCain's decision to suspend his campaign was made in the hopes that politics could be set aside to address our economic crisis," spokesman Brian Rogers said in a statement. "In response, Americans saw a familiar spectacle in Washington. At a moment of crisis that threatened the economic security of American families, Washington played the blame game rather than work together to find a solution that would avert a collapse of financial markets without squandering hundreds of billions of taxpayers' money to bailout bankers and brokers who bet their fortunes on unsafe lending practices."

UPDATE: Here is video of Reid's press conference from Friday morning

Comments

[itsjustmeee]

I really appreciate the way Dodd speaks. he is clear and easily understandable. He is direct and believable

[itsjustmeee]

I love Dodd's pink tie.

[theone718]

If Dodd isn't the next Treasury Secretary I will eat my own shirt. This is an intelligent man who KNOWS what he is talking about.

[claylandg]

You know I'm tired of hearing the dems say get out of town the deal is done well if it done then vote on it!!! The dems control the senate VOTE ,VOTE ,VOTE stop blaming other people just VOTE!!! They won't put it to a vote ?? why?? because the dems don't want to be the only ones to pass this and when it fails there will be no one to blame except them, it's all i big pile of crap. the dems want the republican to join in on the vote not to take over the top but to point to blame when it fails later , can't you people see this.

[4peace]

I do loathe the republicans, but I think you're on to something. I also loathe mcsame but I'm glad he at least did something positive, for once, and that was scuttle the bail out - for now at least. (Oh, did I mention that I loathe the democrats too? The 2 party system is a hoax, we are a one party system that represents 4% of the population). They're all a bunch of greedy frauds.

[ProsperosMagic]

Incredible. Yawn, more repub cynicism. The Dems are reaching across the isle, including all the representatives of this nation's citizens to weigh in on the solution to this crisis, in one of the most important votes of our lives.

OOOh! Bad Dems! How dare the Dems not exploit their majority leverage every chance they can get...that is soooo....not rebpulican-like!

[luckyinnc]

Shows you that Reid wasn't as in tune as he thought he was. I can guarantee you it will be a better package as the result of the republican intervention. Dems have bruised egos, thats all. It won't be their bill that will be passed afterall.

[johnnyjust]

What is Obama's stance on the bailout?

Yes, yes...I know he's "Present." Anything else?

[psychmaj323]

I guess you haven't been paying attention. He held a press conference, stating what his positions are.

[Uptick]

Why bother replying to these people. These are the same people that think Palin is a great addition to the ticket.

[Mycall]

I'm at the stage now where I'm beginning to realize that there really isn't any hope for people like you. McCain's running a circus of a campaign while his followers drop one liner's supported by not an ounce of facts!!
I mean this in all sincerity, I really feel sorry for someone like you.. Cause you really don"t have "clue"¦.

[nellie]

Let it go. If the republicans aren't backing Bush's plan, then just let them take the fall. Their idea is more tax breaks and eliminate the capital gains tax. Yeah—that'll solve everything.

Just let the bill go down. We don't need to pass this piece of theft:

The Real News:
"Once in a century rip-off"
http://tinyurl.com/4lvyxg

[Morgoth]

Amen.

[observer007]

This is beginning to look like someone trying to play a game of chess without knowing the rules:

1. Dude, you can't castle into check (for McCain's Washington trip) - take that move back!!
2. Dude, (trying to keep depending on Palin for enthusiasm) you took your hand off the queen - I'm taking her with my bishop - checkmate!!

[vegas9999]

Lies, lies and more lies. There NEVER was a deal!!

[Tonilaw]

Looks like his plan backfired

Didnt make it any better that he was quiet as a churchmouse with G.W. Bush and Obama actually had substantive things to say

Poor guy

[BluePride]

I somehow believe the entire act a done-deal.

Before we got to DEFCON 1 weren't there supposed to be COLOR CODES..? ? ? How did we go from NOTHING to RED w/o seeing the WARINING colors of BLUE, YELLOW, ORANGE ? ? ?

http://www.youtube.com/watch?v=AZsLva3C4pU

[jhNY]

Whose figures are the Democrats trusting? Which agency or department of government can be relied upon to provide accurate data? Why are the Democrats content to believe the pronouncements of a serial liar or his lying subordinates? Are they really so intent to save the financiers of their re-election campaigns that they would throw a trillion dollars into a bonfire from which they and the public will be repaid in ashes?

Why for the umptyeenth time are the Democrats volunteering to be bum-rushed into holding the bag on a Republican disaster?

Why do the Washington Generals always lose to the The Globetrotters? At half-time they were leading by double-digits! Answer: They lose because that's their gig. They lose because they are losers. Losers by profession.

And now wheedly, brittle Reid is furious because the deal came undone. If he had anything like a survival instinct, he'd be kissing McSame's shoes in gratitude, even if it meant at least momentarily removing his lips from the brogans of his betters on Wall Street.

[BetterDeadthanRedState]

"At a moment of crisis that threatened the economic security of American families, Washington played the blame game . . ."

And Rogers is playing the "blame Washington game" when (once again) it's the Republicans that deserve the blame.

[VikingQuest]

You would love to have one person or one party to blame for this wouldn't you?

In the back of your mind you know that D's & R's contributed . . . you know that wall street contributed . . . you know irresponsible borrowers contributed . . .

[jhNY]

Leif Ericson discovered America, called it Vinland. You can call off your quest, get in your longboat and row back to little green footballs, from whence you came.

Democrats lined up for campaign money from financiers that was made available for giving thanks to lax oversight and the gelding of regulation fought for tirelessly by Republicans, who during the Bush era, still received, until lately, the vast majority of the monies thrown at politics by Wall Street.

[ellawensmom]

To me, this looks like a situation where all the grown-ups are having a talk, and the archetypical obnoxious only child comes in, and tries to take control of the conversation...you know, using words that he doesn't understand, looking puffed up and important, and really, everyone is just rolling their eyes because the kid invited himself in...

[ggirl00]

McCain will buy the souls of most of the Republicans ... they will give him credit for the bailout plan, with some strngs attached. Then, the ignorant electorate will say "McCain has lots of economic experience, he sucured the bailout plan". And voila! instant economic experience.

Then the fools that are looking for an excuse to NOT vote for Obama will run to the McCain campaign like 'thank God, I almost had to vote for the black guy. Whew!".

The End.

[VikingQuest]

Considering most Americans don't want the bailout . . . how would that help?

[ggirl00]

It helps McCain because there seems to a great % of the population that doesn't vote on the issues. They vote based on identity politics. If McCain hasn't already lost massive support behind the numerous stunts he's pulled, specifically the Palin pick which is an obvious RECKLESS move, then he won't be losing support over this bailout. And IMO, the fact that Obama's # are staying pretty stagnant, it tells me that there's a % of the population that simply will not vote for him (for whatever reason) ... otherwise, they would've moved by now. The 2 candidates are polar opposites. Most people know who they WANT to vote for, have already made their decisions and won't change their minds unless something catastrophic happens. I don't see the poll #'s changing much between now and November.

Political SPIN works is when it tells you what you want to hear (i.e. McCain is a reformer, McCain is a Maverick, Palin is a good pick for women, McCain is experienced). Once people get these "ideas" in their heads very little supporting evidence is needed and it's difficult to convince them otherwise.

[Tonilaw]

You know what, that makes alot of sense and i dont doubt that happening in the least