Tuesday, September 23, 2008

Why are Democrats seen as the ones ushering the bailout through congress?

I could just scream.

House Republicans rose up en masse against their vice president on Tuesday morning to blast an administration proposal that would grant Treasury historic authority to start buying hundreds of billions of dollars in devalued mortgage-related assets, according to members present.


A full-throated Republican revolt could create huge problems for the administration and congressional Democrats scrambling to assemble a package to reassure jittery markets. It could also preserve the Republicans’ options after the fact – if the bailout doesn’t work or proves deeply unpopular with voters, they can say they opposed it.


Ironically, Democrats are addressing many of the GOP concerns by adding more government oversight of the proposed bailout and limiting the pay of top executives whose companies would benefit.
Congressional Democrats have managed to ally themselves with President 19 Percent against anti-bailout Republicans. How does something like this happen?

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