Tuesday, September 23, 2008

The Senate Bulks

Maybe our phone calls helped?

Leading Banking Panel Senators Reject Bailout Plan

"Nobody is happy" about the bailout request, said House Majority Leader Steny Hoyer, D-Md., although he spoke of possible passage of legislation by the weekend.

"Nobody wants to have to do this," agreed Rep. John Boehner of Ohio, the Republican leader. He said he was hopeful of a quick agreement, despite withering criticism from conservative GOP lawmakers, some of whom likened the plan to socialism.

Likened the plan to socialism?


Paulson repeatedly fielded questions from committee members asking why taxpayers should accept the burdens of a bailout.

"You worry about taxpayers being on the hook?" he replied at one point. "Guess what — they're already on the hook."

In for a dime, in for a dollar. Or 300 billion.

Who's counting?

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