Julio: > Interesting, Sabri.
I thought so, too. That letter was used today at the White House meeting by the Republican Senator Shelby. I watched it on CNBC. The below article reports this. Sabri ++++++++++++++++++ White House meeting ends with no financial deal Posted : Thu, 25 Sep 2008 21:48:07 GMT Author : DPA http://www.earthtimes.org/articles/show/234136,extra-white-house-meeting-ends-with-no-financial-deal.html Washington - After a 24-hour buildup heightened by election drama, a meeting at the White House between US President George W Bush and the two rivals for his position - Democrat Barack Obama and Republican John McCain - ended Thursday with no agreement on an emergency financial bailout. "It is very clear we are working very hard to come to agreement," said Representative Steny Hoyer, who was present at the hour-long meeting of congressional leaders and the candidates with the president. He confirmed to CNN afterwards that no agreement had been reached. "We realize doing this correctly is critical but also doing it soon is critical," said Hoyer, a member of the majority centre-left Democrats. Even before the meeting officially disbanded, Senator Richard Shelby, the ranking Republican member on the Senate banking committee and a leading critic of the mammoth 700-billion-dollar proposal, signalled no progress had been made. "We haven't gotten agreement," Shelby said. He has condemned the proposal as "flawed from the beginning" and insisted that alternatives must be considered before Congress is stampeded into rubber stamping the president's plan. He waved a document in reporters' faces that he claimed contained the opinion of 44 economists from leading institutions such as Massachusetts Institute of Technology and University of Chicago who say the Bush administration has overstated the threat of economic collapse if the bill is not adopted. The Democrats, who have held the majority in Congress for two years, are in the difficult position of having to work with the deeply unpopular Republican President Bush during the financial emergency to find a solution. Republicans, especially in the House of Representatives, have raised the loudest condemnations against the unprecedented intervention into capital markets - an anathema for the centre-right party that advocates free markets. Democrats insist that a majority of Republicans in Congress get behind the bill to make the bipartisan plan palatable to a public angry over the idea of their tax dollars helping to bailout high- flying Wall Street risk takers who caused the problem. Bush said Wednesday night in a nationwide address that the country faces a "long and painful recession" if the US government does not buy up billions of dollars in bad mortgage debts and the related, unregulated securities that are at the heart of the financial crisis. Credit tightened even more overnight, the White House said earlier Thursday. Copyright, respective author or news agency _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
