What Really Happened At Yesterday’s White House Leadership Meeting

In Shock & Awed

In Shock & Awed

Rush Limbaugh, this afternoon, not known for being factually inaccurate in his commentaries summarized yesterday’s White House leadership meeting as follows:

He reminded everyone that Bob Schieffer, Chief Washington Correspondent for CBS News, reported yesterday that Sec. Paulson contacted Sen. Graham over concerns that without McCain’s support Republicans would not sign on to the bailout plan and that McCain was needed in Washington.

Sen. Graham contacts Sen. McCain on the campaign trail and informs him of Sec. Paulson’s viewpoint. McCain, in good faith, announces he is suspending his campaign and calls on President Bush to hold a leadership meeting that includes him and Sen. Obama.

President Bush calls that meeting for 4:00 PM yesterday afternoon. Bear in mind, as already reported, Sen. Reid has already said McCain’s supported is required, then told the nation McCain supported the bailout when he never said that, then told McCain to stay away from Washington, then once McCain got there Reid said McCain needed to show leadership with the Republicans and then just this morning has told McCain to leave.

Last I checked, Sen. McCain was a duly elected and sworn Senator of the United States and has full participatory rights and powers afforded by that position. God forbid that he show up to keep things honest.

Now, on to the details of the meeting:

In attendance at the meeting: President Bush, Secretary Paulson, Senator Reid, Senator McConnell, Senator Shelby, Senator Dodd, Senator McCain, Senator Obama, Speaker Pelosi, Representative Frank, Represenative Boehner, and possibly others.

To start the meeting, the President speaks to the media and then they are excused. He then yields to the Democratic leadership. It is then reported that the Democratic leadership yields to Senator Obama. Obama then proceeds to rip into the House Republican leadership over their proposed plan and asks Sec. Paulson for his input.

At this point, the Republican leadership feels they been cornered because they believed they were coming to a working negotiations meeting regarding the bailout plan. So far, no one really knew what the House GOP plan was. Obama did not even know what the plans where. Sources indicate, however, that details of the proposed House GOP plan were emailed to Senator Obama by sources inside the Treasury department, staff of Sec. Paulson.

It appears while heading to the meeting that Sen. Obama received a heads up from Sec. Paulson’s staff on the details of the plan. It is at this point, when Obama questions the House GOP on their plan which he does not understand that literally, “all Hell broke loose.”

This is corroborated by the statement that President Bush was beleaguered to reclaim control of the meeting amidst all the shouting and yelling. It was noted that while Obama was berating others that Senator McCain was urging everyone to calm down and work together for a solution. However, it was obvious that Obama showed up to take the entire negotiating process off the rails.

An Obama campaign source revealed that the notes on the House GOP plan was actually passed to senior aides came from a Goldman-Sachs employee (where Sec. Paulson is a former CEO and still has close ties), regardless we know this is an underhanded attempt to embarrass McCain and the Republicans. It appears to many on Capitol Hill that Sec. Paulson is being somewhat disingenuous with President Bush and not acting in good faith regarding the financial issues.

It also appears this meeting was subverted by the Democratic leadership to try and show off Sen. Obama’s leadership and negotiating skills in an effort to give him the upper hand on McCain (i.e. inserting presidential politics). Clearly Obama and Democratic leadership blew it. He wants to be President but cannot chair a meeting — epic failure.

After the meeting, reports indicate Sec. Paulson was pleading with everyone not to discuss the details of just how bad the meeting went. Hmm, I wonder why that would be? He was also observed discussing the meeting with Speaker Pelosi and apparently kneeled on one knee as if to bow and plead before her jokingly. We know he’s a Democrat and we know where his allegiances lie. 

Also, notice what happened as the meeting adjourned. Obama took his time but eventually appeared before cameras giving his remarks and then took questions from the press. His statements were largely a ‘cover your rear’ attempt at spinning the meeting to minimize political damage. He said that he believed, and the meeting confirmed, the idea that inserting presidential politics in delicate negotiations would not be beneficial.

Thank you Professor Doofus. So why did you do it? Why did you sabotage a negotiating meeting accuse McCain of saying very little and then show up in front of the media to cover your backside without explaining why that was necessary?

He then reiterated today after his workout that he was headed to Oxford, Mississippi for the debates and would remain in touch because he feels his presence there only make the effort more difficult.

I’d say so.

What was the goal of the meeting? For Sen. Obama to run the meeting to look presidential so they could run out and talk about how great a job he did and how presidential he looked. Except they forgot one thing: the teleprompter. Without it, Obama had no clue what to do and the whole meeting derailed.

Now you have Sen. Reid and the Democratic surrogates including Speaker Pelosi, Rep. Frank, Sen. Dodd and Sen. Schumer telling McCain to get out of town because he has screwed up enough (of their plans to screw the American taxpayer).

So what gives? Is Sen. McCain partly to blame for derailing the bailout?

Absolutely not. You see, the Democrats currently have sufficient votes in both the House and Senate to pass their version of the bill. However, they will not pass it unless the Republicans vote with them because they lack the courage to ram this worthless bill down our throats and take credit for it knowing we’ll have their backsides for it come November 4th. Plus, they would love to have Republicans on record voting against capitalism and conservative free-market principles. The Republican leadership simply will not stand for that.

So their plan is clear: blame the conservatives. They blame Sen. McCain for showing up, the President for not doing enough, and the Congressional Republicans for not being team-players (despite the Democrats leaving them without a chair at the negotiating table). Yet, in an interview this morning, Sen. Dodd apparently went off the Democratic talking points and admitted that there was only an “agreement in principle”, not a deal as the Democrats would have everyone believe.


Meanwhile, Sen. McCain says he believes now that GOP leaders are at the negotiating table that progress is being made. He will debate Obama tonight and then head back to Washington to continue working on the bailout plan. Some even appear to agree that the House GOP wasn’t sufficiently included.

The difference between McCain and Obama? Leadership, experience, and patriotism.

Country First. McCain-Palin ’08.


4 Responses

  1. interesting fly on the wall account– would love to know what really happened in there!

    I couldn’t tell if you were being sarcastic, though, when you said Rush was not known for being inaccurate? If you were being serious, that’s cool– just don’t think of Rush as really focused on accuracy.

    But, in any event, the meeting sounds heated– which it should be! the stakes are high– they should be feeling passionate about their beliefs. I wish mccain was more forthcoming, but it seems like he’s a little over his head in terms of the substance. I feel compassion for him, though. he’s in a tough spot. do what’s right for people long-term vs. pacify talk radio ranters in the short term.

  2. Well I’m Democratic and I hope there is no bailout, whether it is a blank check or Canto’s insurance idea. We as country need to complete this round trip and pick up the pieces after markets reorder themselves. Lift the short sale ban, mark assets to market, followthrough on margin calls, and hold the elections. That is what a Democratic Republic is all about. I thank the House Republicans for blowing the deal up and I hope the Democratic leadership has the sense to slowly step away.

  3. Wow, I really appreciate your perspective. Thanks for sharing.

    Cantor’s proposal has no chance… but it is good leverage to, what I hope, is a better end product. By ‘better’, I mean notwithstanding how silly the concept is to begin with.

    I’m glad to hear from anyone who is for the free-market. My big fear is that we’ll continue along a path that erodes free-market principles.

  4. lem,
    Just another example of trying to spin for obama, he said “not known to be factually inaccurate”. By taking the word factually out you tried to change the meaning. Barky should have stayed on the trail and left the real fight to the big boys!

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