>A bad day for the GOP on politics, bailout plan

>(AP) – Even for a party whose president suffers dismal approval ratings, whose legislative wing lost control of Congress and whose presidential nominee trails in the polls, it was a remarkably bad day for Republicans.
A White House summit meeting on Thursday meant to shore up John McCain’s shaky campaign “devolved into a contentious shouting match.” And that’s how McCain’s own campaign described it.

The meeting revealed that President Bush’s $700 billion bid to combat the worst financial crisis in decades had been suddenly sidetracked by fellow Republicans in the House, who refused to embrace a plan that appeared close to acceptance by the Senate and most House Democrats.

Treasury Secretary Henry Paulson begged Democratic participants not to disclose how badly the meeting had gone, dropping to one knee in a teasing way to make his point according to witnesses….

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Filed under Associated Press, bailout, Congress, Democrats, Financial crisis, Henry Paulson, John McCain, President Bush

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