McCain's Plan To Break The Deal: Less Regulation, Accountability and Protection
Marc Ambinder reports:
During the White House meeting, it appears that Sen. John McCain had an agenda. He brought up alternative proposals, surprising and angering Democrats. He did not, according to someone briefed on the meeting, provide specifics. One the proposals . . . would relax regulation and temporarily get rid of certain taxes in order to lure private industry into the market for these distressed assets.
That approach has been rejected by Senate Democrats, Senate Republicans and, to this point, the White House. During the meeting, according to someone briefed on it, Sec. Henry Paulson told those assembled that the approach was not workable.
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