Friday, September 26, 2008

Here is what I have been trying to say..

Dick Morris, who I don't particulary like at all, lays out what I've been trying to say about this mess:

McCain has transformed a minority in both houses of Congress and a losing position in the polls into the key role in the bailout package, the main man around whom the final package will take shape. He arrived in Washington to find the Democrats working with the Bush Administration to pass an unpopular $700 billion bailout. The Democrats had already cut their deal with Bush. The Dems agreed to the price tag while Bush agreed to special aid to families facing foreclosure, equity for the taxpayers, and limits on executive compensation. But no sooner had McCain arrived than he derailed the deal.

Knowing how unpopular the bailout is with the American people, the Democrats are not about to pass anything without broad Republican support even though their majorities permit them to act alone. Instead of signing on with the Democratic/Bush package, the House Republicans are insisting on replacing the purchase of corporate debt with loans to companies and insurance paid for by the companies, not by the taxpayers. That, of course, is a popular position. McCain would be comfortable to debate this issue division all day. And, if the Dems don’t cave into the Republican position, that’s probably exactly what he’ll do on Friday night’s scheduled debate in Mississippi.

I've been asking my lefty friends why Pelosi doesn't just pass the bill as she very well can with Democratic support. But they don't answer exactly because of the reason Morris gives.

Read the rest and hope to God that his time Morris is right.

According to Rich Lowry at NRO, things are moving along in the right direction:

I have a mole participating in staff-level negotiations. He says the ACORN slush fund has been taken out. The "proxy access" provisions and government equity stake in banks —two of the more contentious issues that will be Member-level issues, to be discussed tonight. House Republicans want to limit cost of the initial tranche and add the Cantor mortgage-backed security insuranceprovision.Overall, sounds like they are moving toward a deal.

Just the fact that the ACORN slush fund has been taken out is a victory for every decent American. I am so proud of those Republicans for standing strong, I can't stand it.