No Deal

negotiations between the white house and the congress collapsed after they apparently reached a deal to end the financial crisis on wall street.when congressional leaders and senators john mccain and barack obama, the two major party presidential candidates, trooped to the wan house on thursday afternoon, most signs pointed toward a bipartisan agreement on a grand compromise that could be accepted by all sides and signed into law by the weekend. it was intended to bail out billions of dollars into the financial procedure, restoring liquidity and keeping believe flowing to businesses and consumers.”we’re in a serious trade crisis,” mr. bush told reporters as the meeting began shortly before 4 p.m. in the cabinet room, adding, “my await is we can reach an agreement very shortly.”but split second the doors closed, the smooth-talking ill fame republican leader, john a. boehner of ohio, surprised many in the room by declaring that his caucus could not support the plan to deduct the government to purchase distressed mortgage assets from ailing pecuniary companies.mr. boehner pressed an alternative that involved a smaller role for the government, and mr. mccain, whose support of the deal is critical if associate republicans are to sign on, declined to take a exemplify.the talks skint up in wroth recriminations, according to accounts provided by a participant and others who were briefed on the seating, and were followed by dueling news conferences and interviews rife with partisan finger-pointing.in the roosevelt stay after the session, the treasury secretary, henry m. paulson jr., literally corrupt 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 on top of what ms. pelosi derided as a republican betrayal.”i didn’t discern 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 have knowledge of.”the predominating sticking with respect to make an effort to within the republican caucus seemed to be a lack of agreement on how to reproach this unharmed thing on the democrats.(cross-posted.)

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