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Principal Negotiators Meet in Pelosi's Office
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ShareSeptember 27, 2008 5:32 PM
ABC News' Z. Byron Wolf Reports: After a week of roller coaster political wrangling, principal negotiators from both parties and houses of Congress met in House Speaker Nancy Pelosi's office with Treasury Secretary Henry Paulson on Saturday to hash out a final deal on a sweeping plan to rescue the nation's economy.
Pelosi left the negotiators alone in her office and walked elsewhere in the Capitol, but told reporters that she expects a deal tonight, with votes to come early next week.
"We are going to make decisions, hopefully this evening, so that we can put something on the Internet tomorrow for the American people to look at," Pelosi said.
Pelosi also commented on Republicans decision not to attend negotiations earlier in the week, saying, "It was unpatriotic for them to not even show up."
Meantime, few details were few coming out of the room. ABC News' Jake Tapper reported that the blackberries of staffers were seized and put in a trashcan to cut down on leaks.
Earlier in the day, after Senate Republicans met to discuss their priorities, the party's negotiator, Sen. Judd Gregg compared the financial crisis to a horrible accident on an eight-lane highway, saying the country's credit and capitol is jammed like traffic behind the accident.
Gregg said it is essential that the government clear the accident to get the traffic moving again and pledged that negotiators would meet tonight until a deal was reached.
The negotiators are expected to leave intact the core aim of using up to $700 billion in taxpayer dollars to clear the balance sheets of banks and financial institutions hobbled by mortgage backed securities devalued by the foreclosure crisis and housing slump.
Earlier this week, House Republicans seemed primed to abandon the plan rather than face constituents angry at the appearance of the government using taxpayer dollars to bail out struggling firms on Wall Street. They offered a competing proposal Thursday night to scrap Paulson's troubled asset purchase program and exchange it with a government backed insurance program, charging firms premiums to insure their bad assets.
That model would have avoided using taxpayer dollars, but couldn't be implemented quickly enough and had less of a chance of working, according to critics, including senators, House Democrats, and Paulson.
But staffers from all sides worked well into the night Friday to find a proposal that would satisfy House Republicans and Paulson, who expressed concerns that the more complicated and punitive toward Wall Street the plan got, the more it would frighten off potential participants.
Congressional staffers worked until 3 am on Saturday morning to find middle ground on changes to a proposal first presented last weekend by the Bush administration.
It is unclear what will ultimately be included in the deal or how the skittish House Republicans can be allayed, but all the lawmakers are keen to limit executive compensation for executives at firms who have their bad debt purchased, install oversight of the program with an inspector general, and allow taxpayers to recoup some profits at the firms helped by the program.
Staffers said the issue closest to resolution was the idea in Congress to enable he government to recoup stock.
September 27, 2008 | Permalink | User Comments (108)
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All I know is that Pelosi needs more plastic surgery and, perhaps, a brain transplant!
Posted by: dl | Sep 27, 2008 5:48:04 PM
Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement
Posted by: Fae | Sep 27, 2008 5:55:22 PM
So, what does Obama's health care plan do for illegals?
Posted by: dl | Sep 27, 2008 6:07:38 PM
but not at tax payers expense!
Posted by: Scott | Sep 27, 2008 6:09:59 PM
I'm disappointed that Nancy Pelosi is siding with the plan to use taxpayer's money to fund the bailout. She seems to be taken in by Bush's scare tactics. I think that lawmakers should be able to come up with a better plan.
Posted by: Betty | Sep 27, 2008 6:35:20 PM
How about no 20% kickback for ACORN!
Posted by: s.b. | Sep 27, 2008 6:39:25 PM
Pelosi and Reid have been taking a walk ever since they took control of the House and Senate! Remember the first 100 days??? They were going to accomplish so MUCH...empty promises and lies...typical liberal bu%l$hit! This is the same type of crap Obama pumps out! Promises and lies and liberal bul%-$h*t.....Obama's garbage....FREE....all you can eat!...eat up liberals
Posted by: Independent | Sep 27, 2008 6:39:53 PM
history the way you remember it...blah blah blah...everything is Bush's fault..McCain is old....Obama is GOD...blah blah blah....Republican's bad but Democrat's good...blah blah blah
Things will change when the Democrats are in power.....wait...they are in power....OOPS!!! Pelosi is on the case and she is....takin' a walk????!!
Posted by: Independent | Sep 27, 2008 6:45:25 PM
Pelosi is supposed to be intelligent??? Who made up that lie? She is a conspirator to Barney Frank, Chris Dodd and Obama....they should all go to Kenya and start their own political compound....take the rest of the do nothing Dems with them!
Posted by: mfmros | Sep 27, 2008 7:00:37 PM
Since the state of the economy is because of Pelosi and the DemWit congress, I only hope there are Republicans in there that can straighten this mess out!
McCain/Palin 08!
"Country First!"
Posted by: Davis | Sep 27, 2008 7:12:04 PM
It was clear in last nights debate that Obama has no clue! Thank you, DemWits.....we will have President John McCain being sworn in in January!
Posted by: FormerDemocrat | Sep 27, 2008 7:13:21 PM
Independant,
Your funny... :)
I am Voting for Obamas 'Bill', for War Crimes of Rape Commited by Extreme Republican soldiers, in Other Countries.
McCain walked out of the Senate, So He Recieved a No-Show. But, was on his Phone With Senate Members. He Could have Voted Yes, over the Phone, but Choose not to Answer. Making it a No-Show.
This Proves McCain is a supporter of Rape, with No Questions Asked.
We are Also Upset, that Some Women in His lower Staff,are Brainwashed, into not wanting more pay just like at abc AND fox.
For Our Private Records.
Brain Washing Micro-Generators. Interesting.
OSU's, Also interesting. Some Countries are MORE advanced than us.
This is fun... :)
Read Platos-'The Cave'. If you can.
To bad you Couldn't make an ARK=ARC
WAIT for the Book. Electronics are Cool.
No Mafia 'Free Markets', All Paperwork will be released to the public if the want to see it. This way Radical Far Right Republican Guards, can not ship anything without public paperwork and Independant Inspection.
Posted by: historyremembered | Sep 27, 2008 7:13:56 PM
"ABC News' Jake Tapper reported that the blackberries of staffers were seized and put in a trashcan to cut down on leaks."
Hilariously self-contradictory story.
Posted by: El_Pajaro | Sep 27, 2008 7:17:32 PM
Pelosi is where she is today because she's in a 'safe' (socialist) district in San Francisco. By constantly getting elected, she advanced because of tenure not intelligence.
Posted by: dl | Sep 27, 2008 7:19:53 PM
Independant,
Your funny... :)
I am Voting for Obamas 'Bill', for War Crimes of Rape Commited by Extreme Republican soldiers, in Other Countries.
McCain walked out of the Senate, So He Recieved a No-Show. But, was on his Phone With Senate Members. He Could have Voted Yes, over the Phone, but Choose not to Answer. Making it a No-Show.
This Proves McCain is a supporter of Rape, with No Questions Asked.
We are Also Upset, that Some Women in His lower Staff,are Brainwashed, into not wanting more pay just like at abc AND fox.
For Our Private Records.
Brain Washing Micro-Generators. Interesting.
OSU's, Also interesting. Some Countries are MORE advanced than us.
This is fun... :)
Read Platos-'The Cave'. If you can.
To bad you Couldn't make an ARK=ARC
WAIT for the Book. Electronics are Cool.
No Mafia 'Free Markets', All Paperwork will be released to the public if the want to see it. This way Radical Far Right Republican Guards, can not ship anything without public paperwork and Independant Inspection.
McCain Better start to agree with his Middle Republicans. This is when he doesn't want to Reach across the table.
Just like Bush did.
Sounds like a New GOOD BOOK' will be written. I see who McCain is Now.
Watch CNN & MSNBC for why Obama did not rate so well, at the Debates
Vote Independant. I will not vote for Seperation
Posted by: historyremembered | Sep 27, 2008 7:20:22 PM
Independant,
Your funny... :)
I am Voting for Obamas 'Bill', for War Crimes of Rape Commited by Extreme Republican soldiers, in Other Countries.
McCain walked out of the Senate, So He Recieved a No-Show. But, was on his Phone With Senate Members. He Could have Voted Yes, over the Phone, but Choose not to Answer. Making it a No-Show.
This Proves McCain is a supporter of Rape, with No Questions Asked.
We are Also Upset, that Some Women in His lower Staff,are Brainwashed, into not wanting more pay just like at abc AND fox.
For Our Private Records.
Brain Washing Micro-Generators. Interesting.
OSU's, Also interesting. Some Countries are MORE advanced than us.
This is fun... :)
Read Platos-'The Cave'. If you can.
To bad you Couldn't make an ARK=ARC
WAIT for the Book. Electronics are Cool.
No Mafia 'Free Markets', All Paperwork will be released to the public if the want to see it. This way Radical Far Right Republican Guards, can not ship anything without public paperwork and Independant Inspection.
McCain Better start to agree with his Middle Republicans. This is when he doesn't want to Reach across the table.
Just like Bush did.
Sounds like a New GOOD BOOK' will be written. I see who McCain is Now.
Watch CNN & MSNBC for why Obama did not rate so well, at the Debates
Vote Independant. I will not vote for Seperation
Posted by: historyremembered | Sep 27, 2008 7:20:53 PM
Independant,
Your funny... :)
I am Voting for Obamas 'Bill', for War Crimes of Rape Commited by Extreme Republican soldiers, in Other Countries.
McCain walked out of the Senate, So He Recieved a No-Show. But, was on his Phone With Senate Members. He Could have Voted Yes, over the Phone, but Choose not to Answer. Making it a No-Show.
This Proves McCain is a supporter of Rape, with No Questions Asked.
We are Also Upset, that Some Women in His lower Staff,are Brainwashed, into not wanting more pay just like at abc AND fox.
For Our Private Records.
Brain Washing Micro-Generators. Interesting.
OSU's, Also interesting. Some Countries are MORE advanced than us.
This is fun... :)
Read Platos-'The Cave'. If you can.
To bad you Couldn't make an ARK=ARC
WAIT for the Book. Electronics are Cool.
No Mafia 'Free Markets', All Paperwork will be released to the public if the want to see it. This way Radical Far Right Republican Guards, can not ship anything without public paperwork and Independant Inspection.
McCain Better start to agree with his Middle Republicans. This is when he doesn't want to Reach across the table.
Just like Bush did.
Sounds like a New GOOD BOOK' will be written. I see who McCain is Now.
Watch CNN & MSNBC for why Obama did not rate so well, at the Debates
Vote Independant. I will not vote for Seperation
Posted by: historyremembered | Sep 27, 2008 7:21:05 PM
Pelosi is an idiot and she saw her "puppet-boy" Obama, fail last night in the debate. Because of the democratic congress, as was already mentioned, that began in 1999 when Clinton was in office, our country is failing. Slick Willie put the "good ole" demwit boys in control of Fannie Mae and Freddie Mac. Now, America is suffering. Obama, is taking this opportunity to try to turn America into a socialist country. I'm hoping and praying that McCain will be the next POTUS. Obama is an idiot just like Pelosi...he proved it last night!
Posted by: Jess | Sep 27, 2008 7:23:16 PM
All I know is that Pelosi needs more plastic surgery and, perhaps, a brain transplant!
Hey there dl - Looks like Pelosi has brought together ALL parties and her leadership is now resulting in a deal that ALL sides will agree to.
Meanwhile, your president Bush's pleading like a sheep, King Henry Paulson beggining on his knees, and McCain's 3-ring circus last week all achieved nothing, because no one trusts a republican anymore.
No wonder you suggest a brain transplant for Pelosi - because you wish that Bush or McCain had a brain like hers. Sorry, dl, no brain transplant in your future, just a new president, a stronger democratic majority in the house and senate, supreme court justices that believe in the Consitutution, and a better day for America.
Posted by: clifton | Sep 27, 2008 7:27:06 PM
Fae - what is that all about????
Posted by: Angry Black Democrat | Sep 27, 2008 7:33:02 PM
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