September 29, 2008

CONSIDER THIS FOR A MOMENT...:

The Bailout Bill That Nobody Likes (Jay Newton-Small, 9/29/08, TIME)

Wanted: someone who will claim credit for saving the U.S. economy. With little fanfare and all the enthusiasm of a hangover, congressional leaders from both parties on Sunday unveiled a detailed agreement on legislation to bail out Wall Street. But no presidential candidates were in sight, and few in Congress were doing much bragging about their handiwork.

Last week, jockeying for the title "savior of the economy" seemed intense, with both the Democratic and Republican candidates flying into Washington and overeager negotiators emerging with a premature victory announcement. But after dramatically suspending his campaign and asking to postpone last Friday's debate in order to deal with the financial crisis, John McCain kept a decidedly low profile in the final days of negotiations. His staff said McCain kept track of events by phone, keeping in touch with Treasury Secretary Henry Paulson and House minority leader John Boehner, and calling members on both sides of the aisle, urging them to support the deal. "I'm proud that we were able to get this done, and I'll give the credit to everybody else," McCain insisted on ABC's This Week on Sunday morning.

Yet on Sunday it was hard to find anyone willing to take credit for the agreement.


...helping to pass this bill is the first significant legislative accomplishment of Barack Obama's career. That said, it is a big one.

Posted by Orrin Judd at September 29, 2008 11:19 AM
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