TW: Thankfully a deal albeit tardy appears headed to completion. John McCain deserves severe retribution for another reckless maneuver to place his political needs above the country. Furthermore do not lose sight of the fact that his fellow Republican "rebels" are the same incoherents whose ideological bent toward blind de-regulation and unfunded tax cuts (primarily oriented to the wealthy in particular the really wealthy in other words those "Wall Street Gordon Gekkos" who took home the 10-12 figure bonuses) helped get us here in the first place. The Washington Post piece is very interesting reading for those interested in understanding the cynical ways of DC.
From the Economist:
"...The political dealings are excruciating. Republican leaders are apparently making the case that they were about to sign on to a bad bill until John McCain saddled up his white horse and led a rebellion against the plan, helping leaders to arrive at this new, far better, compromise. As best I can tell, the new bill mainly differs from the old one in that it nominally includes the GOP plan to increase federal insurance of mortgage-backed securities, a plank which seems unlikely to do much of anything"
http://www.economist.com/blogs/freeexchange/2008/09/sunday_update.cfm
From WaPo:
" 'I appreciate what you've done here, but I'm not going to sign on to a deal just to sign the deal,' McCain told the gathering, according to Graham and confirmed by multiple Senate GOP aides. 'Just like Iraq, I'm not afraid to go it alone if I need to.'
For a moment, as Graham described it, 'you could hear a pin drop. It was just unbelievable.' Then pandemonium. By the time the meeting broke up, the agreement touted just hours before -- one that Sen. Lamar Alexander, the No. 3 GOP leader, estimated would be supported by more than 40 Senate Republicans -- was in shambles."
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/26/AR2008092603957_pf.html
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