A deal to rescue the faltering U.S. financial system stalled on Thursday amid bickering between Democrats and Republicans and accusations of political posturing by Republican presidential candidate John McCain.
U.S. lawmakers had appeared close to a final agreement on Thursday on a massive $700 billion bailout to save the financial system, lifting world stock markets and sending the dollar higher. But things spun off course during an emergency White House meeting between Congressional leaders with U.S. President George W. Bush, according to lawmakers.
A lot more story:
http://www.reuters.com/article/topNews/ ... RX20080925
White House, Congress still negotiating bailout
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Bob Juch
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White House, Congress still negotiating bailout
I may not have gone where I intended to go, but I think I have ended up where I needed to be.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
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silverscreenselect
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There is no deal; the posturing was done by Dodd and the Democrats to try to make it look like they had a deal when many Republicans were against it and to make it look like John McCain's presence was unnecessary. Many conservative Republicans have been dead set against any sort of bailout... so much so that Treasury Secretary Paulson asked McCain to step in because he could provide the needed cover for the conservative Republicans to support a deal.
There's plenty of political posturing going on right now by both Democrats and Republicans, but the idea that McCain's the only one trying to play politics is ludicrous.
There's plenty of political posturing going on right now by both Democrats and Republicans, but the idea that McCain's the only one trying to play politics is ludicrous.
