Obama/Pelosi & DNC “injecting Presidential politics” into the bailout

“The concern that I have … is that when you start injecting presidential politics into delicate negotiations, then you can actually create more problems rather than less,” Obama told a news conference.

Sept 25th, 2008 Reuters article

Ah yes, another day, and more words. To suggest that the POTUS candidate for the party making the most noise to the overt nationalization of a sector of the free market should stay away for fear of appearing “political” is absurd at best. Not only should both candidates be actively involved for what is a substantial interjection of government interference into the markets for the next term, but McCain’s presence was more than mandatory. It is, after all, the GOP coming up with alternatives to the very principles of the government buy out of over leveraged paper, while Obama dutifully followed along on his partisan leash.

What was it Obama said? Don’t be “injecting Presidential politics” into this process? Yet over the past days, it was Obama and the DNC, shouting from the media roof tops that McCain’s very participation in the negotiations was a political stunt…. thereby “injecting Presidential politics”.

Senate Majority Leader Harry Reid said in a statement that the candidates’ presence could be a distraction during the delicate talks.

“If that changes, we will call upon them. We need leadership, not a campaign photo op,” Reid said

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And the No. 2 Democrat in the Senate, Sen. Dick Durbin of Illinois, said McCain’s decision to return would would bring the “charged political atmosphere” of presidential politics to Washington.

“I’m not sure that will help create a positive, bipartisan or nonpartisan atmosphere to solve the problem,” said Durbin, who added, “I think we need to do this in a thoughtful, quiet and sensible way.”

[Mata Musing: does “quiet and sensible” include publicly accusing a sitting Senator’s participation of charging the political atmosphere??]

One of the Democratic negotiators, Sen. Charles Schumer of New York, dismissed McCain’s move as a “political stunt.”

“The negotiations have gone on,” said Schumer, an Obama supporter. “It’s as if, you know, you’re in the middle of drawing an amazing painting and someone else comes in and says, ‘hey, come in, let me throw my brush marks on there.’ It just doesn’t make sense.”

Listen… from Schumer’s lips to your monitor..

The DNC was apparently thinking they and the WH would be the last words on the issue, and the GOP and McCain would meekly follow along. Nor did they anticipate the high negativity by the US taxpayer, with calls to Congress representatives surpassing the rejection of the immigration debacle not long ago.

Just days ago, the DNC was onboard with the WH in shoving this thru quickly, and with a version not significantly morphed from the original WH/Paulson three page draft. Do they honestly believe that our memories are so short that they expect us to believe the DNC is instrumental in the draft changes??

But banking on the electorates’ stupidity, they are. Today, they continue with “injecting Presidential politics” into the bailout with Pelosi racing with a press release to take personal credit for a potential bailout compromise being close.

Congressional leaders and Treasury Secretary Hank Paulson emerged a half hour after midnight to announce that they had reached an agreement on the Wall Street bailout. Apparently the break through came when Nancy Pelosi came up with some idea no one had ever heard of.

What idea? Apparently they are keeping it secret for now!

Speaking before a gaggle of Capitol Hill media, the negotiators declined to provide any details about the agreement. All we know is that Nancy Pelosi said that the “package” would stabilize the markets, protect the US taxpayers, provide for “equity in the upside,” include oversight, forebearance in terms of mortgage foreclosures and limits on executive compensation. Also, sources say the initial amount available under the bailout will be $350 billion. The additional $350 would become available later, perhaps after further Congressional action.

Apparently many of the details still need to be worked out. Already staffers for lawmakers are backing away from the notion that this is a final agreement, describing it as a “framework” for an agreement. So it’s like a term sheet, we guess. Hank Paulson sounded a cautionary note when he described the current status as “so far, so good.”

Evidently, Pelosi and Obama didn’t get their signals straight. For not to be outdone by the woman a couple of heartbeats away from the Oval Office, Obama is taking not only *his* bows for a potential agreement, but poo poo’ing the notion that McCain deserves any credit for his participation.

WASHINGTON — Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.

Instead, Obama said he deserves credit for making sure the proposal includes safeguards for taxpayers. Obama said he is inclined to support the bailout because it includes increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.

“None of those were in the president’s provisions. They are identical to the things I called for the day that (Treasury) Secretary (Henry) Paulson released his package,” Obama said. “That I think is an indication of the degree to which when it comes to protecting taxpayers, I was pushing very hard and involved in shaping those provisions.”

The safeguards were supported by many in Congress, including Democrats and Republicans.

~~~

Asked during an interview on CBS’ “Face the Nation” whether McCain deserved credit for bringing lawmakers together, Obama said “no.”

“Here are the facts: For two weeks I was on the phone everyday with Secretary Paulson and the congressional leaders making sure that the principles that have been ultimately adopted were incorporated in the bill,” Obama said.

Even today, the master of nuance, exudes confidence… at least on his role in the process, that is. However “inclined” isn’t exactly a vote of serious conviction. Then, it’s hardly a risky stance, nor a sign of leadership. And again, Obama takes credit for already accepted changes that the proponents – on both sides of the aisle – had from the start. I guess that makes it another of his “co-sponsor” status positions, being erroneously portrayed as the “sponsor”.

That this man and the media assume I, as a US taxpayer, am this gullible is beyond infuriating. There was little dissention between the DNC and Paulson/Bernanke/WH admin on amendments. What the DNC proposed as changes accounts for little more than accessorizing the nationalization of Wall Street.

The fact is, the “real” changes that protect “Main Street”, as they all like to call us now, are not coming from the DNC. It is the GOP who is looking for alternatives to limit, not only government intrusion, but the financial risk to the taxpayer. This is a battle of principles.

Instead, the DNC does exactly what they accuse the GOP of doing… politicizing the event for Presidential politics. And, just as they announced “a deal” last week prematurely, they may be in for a few surprises even yet.

The real action is behind the scenes, and centers around Eric Cantor, the number three Republican in the House.

Cantor, who drafted the Republican insurance plan, was still voicing doubts about whether there was a deal when he appeared this morning on CNN’s Late Edition.

“We are not ready to say that a deal is done,” Cantor said.

UPDATE: The Hill reports that today’s “deal reached” headlines may yet be another over reach of the truth.

Rep. Pete Hoekstra (R-Mich.) wrote on Twitter.com, “Sunday morning. News channels reporting a deal has been reach. Funny, somebody forgot to tell Congress. No details. Arm breaking begins soon!”

Rep. Mike Pence (R-Ind.) urged fellow Republicans to oppose the deal in a letter.

“The decision to give the federal government the ability to nationalize almost every bad mortgage in America interrupts this basic truth of our free market economy,” Pence wrote. “Republicans improved this bill but it remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector, and passes the cost along to the American people. I cannot support it.”

Pence added, “Before you vote, ask yourself why you came here and vote with courage and integrity to those principles…If you came here because you believe in limited government and the freedom of the American marketplace, vote in accordance with those convictions.”

House Republicans said they learned of the deal from the press, and not from their leaders, suggesting those leaders could be in story for a rocky House GOP conference meeting Sunday afternoon. The time for that meeting has not been scheduled.

Members of the conservative House Republican Study Committee, who will presumably show the most resistance toward the bill, will meet directly after the full conference.

A spokesman for Minority Leader John Boehner (R-Ohio) said he would not comment on the package until it was presented to his conference members for feedback. But Boehner’s office also issued a “myth versus fact” release, suggesting support for the compromise.

(continue reading more GOP objections at link above)

But typical for the liberal/progressive media… and despite ample proof that those truly politicizing the bailout are the DNC… they suggest that Cantor and crew are looking for details to vote against the plan merely because Pelosi is taking the credit, leaving McCain in the cold.

Needless to say, this altered reality in the beltway is fantasy. And frighteningly enough, they’re all starting to believe their own psychedelic versions of truth.