Stephanopoulos: Paulson Fears Deal May Collapse

[peternap]

September 25, 2008 6:05 PM

ABC News' George Stephanopoulos Reports: Treasury Secretary Henry Paulson fears the Wall Street bailout deal is falling apart after a chaotic White House meeting, sources say.

Paulson walked into the room where Democrats were caucusing after today's meeting at the White House and pleaded with them, "Please don't blow this up."

Rep. Barney Frank, D-Mass., chair of the House Financial Services Committee was livid saying, "Don't say that to us after all we've been through!"

House Speaker Nancy Pelosi said, "We're not the ones trying to blow this up; it's the House Republicans."

"I know, I know," Paulson replied.

Democrats believe that House Republicans are torpedoing the framework deal reached in the bipartisan agreement of principles released by the Senate Banking Committee on Thursday.

ABC News' Jake Tapper contributed to this report.

[StinkerBell]

All I see is finger pointing.

[peternap]

uh oh! Just in:

Bailout deal breaks down; Bernanke back to Capitol     
Sep 25 07:49 PM US/Eastern
By JENNIFER LOVEN and JULIE HIRSCHFELD DAVIS
Associated Press Writers

WASHINGTON (AP) - Urgent efforts to lash together a $700 billion rescue plan for the national economy broke apart Thursday night, hours after key lawmakers had declared they had reached a deal.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sped to Capitol Hill to try to revive or rework the proposal that the administration says must be quickly approved by Congress to stave off economic disaster.

Congressional leaders were to meet with the economic chiefs into the night.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below

[glenn kangiser]

It has to break down because the plan as presented is unacceptable to anyone with any brains-- only acceptable to the fraudsters who want to double dip....