March 18, 2009

WAIT'LL AN EARTHQUAKE HITS SOUTHERN CALIFORNIA...:

White House, Dems backpedaling on AIG (David Espo, 3/18/09, AP)

"It's shocking that they would -- the administration would come to us now and act surprised about these contracts," said Sen. Mitch McConnell, R-Ky., the Senate GOP leader. "This administration could have and should have ... prevented this from happening. They had a lot of leverage two weeks ago."

That would be when the Treasury Department decided to make an additional $30 billion available to American International Group Inc., the huge insurance conglomerate deemed too big to fail by two administrations.

Which goes to the crux of the Democrats' current political problem.

Gone are the days when they could merely bludgeon the Bush administration and promise to seek bipartisan solutions to the nation's economic problems.

Now, in control of the White House and Congress, they are struggling to come up with an explanation for what no one in either party seems moved to defend.


...and they can't blame W.

Posted by Orrin Judd at March 18, 2009 3:48 PM
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