Word: republicanized
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...Democrats are having none of this tale of woe. As far as they're concerned the GOP's platform of deregulation is what caused this problem, and it's a GOP President - however unpopular - who is demanding this fix. They view Boehner's stance with deep suspicion. If enough Republicans did not support the bill, why, they ask, did Republican Senator Bob Bennett and Representative Spencer Bachus, the top Republican on the House Banking Committee, stand at the press conference on Thursday announcing the agreement and voice their support? Why wait until a meeting at the White House to throw...
...Perhaps, the Democrats now wonder, the point was actually to make it harder. Some party members think Boehner created a problem for the Republican nominee to fix; if the House Republicans can be brought around from their initial intransigence, McCain would be seen as the savior of the bill. Even some of the McCain campaign's statements Thursday afternoon seemed to suggest as much. "We're optimistic that Senator McCain will bring House Republicans on board without driving other parties away, resulting in a successful deal for the American taxpayer," said McCain spokeswoman Kimmie Lipscomb...
...aspects of campaign aside from his personal appearances continue unabated •says he has "not had a chance" in three days to read administration's 2½-page bailout plan •sits quietly during White House meeting he suspended his campaign to attend •suspension of campaigning assessed by Republican strategist as "desperate and nuts...
...Instead, they are now actively pushing an alternative proposal floated by Congressman Eric Cantor of Virginia that would force Wall Street to pony up some cash at the outset. Rather than buying all those troubled mortgage assets from ailing banks and investment firms, Republicans say, the government should instead insure them, much as the Government National Mortgage Association does. This approach, they argue, would not cost as much, and would require Wall Street to pay the cost of its mistakes, through insurance premiums. "The main thing is to protect the taxpayer," said Georgia Republican Phil Gingrey. "We don't really...
...while the Bush Administration bailout plan does require an unprecedented outlay of taxpayer funds, White House officials say the cost of a crippled economy would be an even greater burden on average Americans. Treasury Secretary Henry Paulson believes that while the House Republican proposal would help moderate the current crisis, it wouldn't be enough to do the job. Nor is it the most effective way, Treasury officials argue. Leaving those toxic mortgage-backed assets on financial institution balance sheets, they say, would not provide the additional liquidity that banks desperately need right now to get the nation's paralyzed...