Posted by: Lipstick Piggy | September 25, 2008

Inside Scoop | Economic Summit | Ended Badly | What’s Bad about Looking at it Carefully

From: Baier, Bret
Sent: Thursday, September 25, 2008 6:35 PM
To:
Subject: new updated meeting details

PER BRET BAIER:

FROM multiple sources — in and out of the administration.. but all were IN the meeting.

“This meeting ended bad — real bad”.   At times the tone was “Extremely angry” — and there was plenty of “heated crosstalk”… there is NO DEAL.  In fact, one source wondered allowed “we may have gone backward.”

Democrats were extremely upset at House Republicans in particular.. that they said they had “fundamental problems with the plan”.. GOPers asking questions like “why do we have to buy bad mortgages?”  That set Senate Majority Leader Harry Reid.. and House Financial Services Committee Chair.. Congressman Barney Frank OFF..  they yelled that  (paraphrasing) –how is this possible?  that you’re not even on-board?!

Democrats wanted more specifics about Mortgage protections.. and assurances that the GOP will get on board.

Some Republicans problems were more fundamental.. as noted above.  We’re told Senator McCain did NOT take a clear position in the meeting.

A Senior administration official said “our big deal is to find something that works!!   we’re willing to deal on almost EVERY issue.  We were just ‘putting a puck in play’.”   The administration is willing to stagger the payout to the Treasury… put more details about mortgage protection.. in the words of one official “you name it.. we need to get this moving– NOW!”

Asked will John McCain or the President — be able to sway unconvinced GOPers — one senior official said “we just don’t know.”
“we’re willing to tap the brakes.. but, the vehicle needs to move.. otherwise we’re going to end up in a crash.”

Bret Baier
Chief White House Correspondent
Fox News Channel

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