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      Everyone remember the Panama papers? A leak of bank records showing that the ultra-rich are hiding massive wealth, tax-free and often breaking the law to do so? A rather weak set of laws designed to allow tax avoidance by rich people, at that. Found out the other day that the reporter who broke the Panama Papers story was killed by a car bomb. Coincidence, n […]
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Friday: The Treasury Secretary begged Pelosi on his knees?!

According to the NYTimes, the meeting on the financial bailout yesterday at the White House had definitely gone into fiasco territory:

The day began with an agreement that Washington hoped would end the financial crisis that has gripped the nation. It dissolved into a verbal brawl in the Cabinet Room of the White House, urgent warnings from the president and pleas from a Treasury secretary who knelt before the House speaker and appealed for her support.

“If money isn’t loosened up, this sucker could go down,” President Bush declared Thursday as he watched the $700 billion bailout package fall apart before his eyes, according to one person in the room.

WTF?!  This “sucker”?  That’s the way *I* talk, but I’m a blogger.  It’s part of my charm.  Shouldn’t we expect the President to behave like this is a very serious matter?  Oh, nevermind.  And what’s with Paulson falling to his knees before Pelosi?  This isn’t public theatre. What’s next?  A slug fest in Congress between the Democrats and Republicans?

Usually, I don’t do the sanctimonious little finger wag at the players in dramas like this when they get a little ‘exercised’ and passions erupt.  But this is so over the top:

In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to “blow it up” by withdrawing her party’s support for the package over what Ms. Pelosi derided as a Republican betrayal.

“I didn’t know you were Catholic,” Ms. Pelosi said, a wry reference to Mr. Paulson’s kneeling, according to someone who observed the exchange. She went on: “It’s not me blowing this up, it’s the Republicans.”

Mr. Paulson sighed. “I know. I know.”

The bailout deal looked resolvable until John Boehner pulled the rug out from everyone and said the Republican caucus in the House would not support more government regulation.  Everything is going as Anglachel predicted the other day.  This is a set up and trap by the Republicans to hang the whole stinky mess around the Democrats’ necks:

But a few blocks away, a senior House Republican lawmaker was at a luncheon with reporters, saying his caucus would never go along with the deal. This Republican said Representative Eric Cantor of Virginia, the chief deputy whip, was circulating an alternative course that would rely on government-backed insurance, not taxpayer-financed purchase of mortgage assets.

He said the recalcitrant Republicans were calculating that Ms. Pelosi, Democrat of California, would not want to leave her caucus politically exposed in an election season by passing a bailout bill without rank-and-file Republican support.

“You can have all the meetings you want,” this Republican said, referring to the White House session with Mr. Bush, the presidential candidates and Congressional leaders, still hours away. “It comes to the floor and the votes aren’t there. It won’t pass.”

It will also expose Obama’s tender underbelly.  When push comes to shove, he will save his backers on Wall Street over the hardworking American men and women who are going into massive debt on their behalf.  Er, that would be *us*.

If Obama had any core Democratic principles, he would know not to yield.  If he weren’t a lightweight, he could add his critical mass to the Democrats in negotiation.  Hey, here’s his first opportunity to reach across the aisle to get things done with Republicans in a post-partisan fashion and they are about to eat his lunch.  So much for the future leader of the free world who thought it was more important to strut his stuff in Berlin than sit with his advisors and hammer out policies that might work or that he actually believed in.

To be a successful president, and believe me, George W. Bush has been successful beyond expectations, you have to be able to do long term planning.  You have to be able to think several moves in advance.  OR you have to believe in what you *say* you believe and stand your ground.  Obama seems to be lacking in both of these areas.

I hope the Superdelegates are uneasy.  I hope they are regretting what they did last summer when they ignored the woman with the public support, the steely spine and the nasally voice of the policy wonk. SHE wasn’t even invited to the party and had to make her case directly to the American people, talking to bubble headed newsreaders who wanted to know what she thought of Sarah Palin.  I have nothing but contempt for the Superdelegates and it will give me great pleasure to vote against Frank Lautenberg and Jon Corzine when they run again.

What was their point, exactly?  Why support *this* man at *this* time in our nation’s history?   Someone better start talking.  The grown-ups out here are losing patience and the Democrats are headed for a four year time out.