WASHINGTON — The seeds of the House Republican revolt over the financial industry bailout were sown in an e-mail message circulated Monday night as internal animosity built quickly over the Bush administration’s request for $700 billion to prevent an economic collapse. In a message to members of the conservative Republican Study Committee, leaders of the bloc of more than 100 lawmakers solicited ideas, calling for a ‘free-market alternative to the Treasury Department’s proposal so that, regardless of how individual R.S.C. members vote on final passage, House conservatives have something to be for.’ As the week progressed, it became abundantly clear that one thing conservative Republicans were most certainly not for was the Treasury plan, prompting them to begin searching for an alternative to avoid the perception of strictly being naysayers. By the end of Friday, at least a portion of their alternative seemed likely to be included in the broader proposal as a sweetener for Republicans, although closed-door negotiations continued into the evening on Friday, and the contours of the final package remained in limbo. After years of acceding to the White House on a variety of initiatives despite deep misgivings, House Republicans found the administration’s […]
Saturday, September 27th, 2008
Conservatives Viewed Bailout Plan as Last Straw
Author: CARL HULSE
Source: The New York Times
Publication Date: 27-Sep-08
Link: Conservatives Viewed Bailout Plan as Last Straw
Source: The New York Times
Publication Date: 27-Sep-08
Link: Conservatives Viewed Bailout Plan as Last Straw
Stephan: