Thursday, December 11, 2008

A determined bunch

Make no mistake, the Republican party will do all it can to block legislation intended to halt or delay the collapse of the economy if that legislation does not neatly fit into their ideological world view. That is, if legislation is intended to help homeowners or to keep union workers in their jobs, or if it attempts to reform the deregulated systems that have derailed the financial system, it will simply will not get the 10 enough GOP votes it needs to pass the Senate. Democrats are, in Digby's words, choosing technocratic competence over ideology, but Republicans will have none of it.

Exhibit one:

More than any administration official, Mrs. Bair has called publicly for using billions of taxpayer dollars to finance the modification of loans threatened by default. But her advocacy has contributed to a battle that is pitting White House and Treasury officials against the F.D.I.C. and lawmakers in Congress. The discord has influenced programs that have so far proved insufficient to stem a tide of foreclosures that Moody’s Economy.com expects will affect 10 million homeowners over the next five years. And it is drawing personal conflicts and animosities into the policy-making process.

White House and Treasury officials argue that Mrs. Bair’s high-profile campaigning is meant to promote herself while making them look heartless. As a result, they have begun excluding Mrs. Bair from some discussions, though she remains active in conversations where the F.D.I.C.’s support is needed, like the Citigroup rescue.

A Treasury official involved in the discussions said that while Mrs. Bair was seen as a valuable part of the team, there was a sense of distrust and a concern that she always seemed to be pushing her own agenda.

Mrs. Bair, for her part, says she has always sought to work constructively with other officials and is one of the few voices within the administration pushing for a comprehensive program to help at-risk borrowers.

“I’ve heard the stories of people who are suffering and can stay in their homes if there is just a small adjustment to their loans,” said Mrs. Bair, a Republican who was appointed to her post by President Bush two years ago. “There are some people in the Republican Party who resent the idea of helping others,” she added. “But the market is broken right now, and unless we intervene, these people and the economy won’t be helped.”

And exhibit two:

WASHINGTON — The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize Thursday as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively ending its chances despite the urgings of the White House.

In a speech on the Senate floor, Mr. McConnell said he and other Republicans had drawn a clear distinction between the Treasury’s $700 billion economic stabilization, which they helped pass in October, and the proposal to aid the American automakers, which he said raised questions about which industries or individuals deserve help.

“A lot of struggling Americans are wondering where their bailout is,” Mr. McConnell declared. Although Mr. McConnell voiced support of an alternative plan that was developed by Senator Bob Corker, Republican of Tennessee, it seemed unlikely that there was any possibility of compromise at this late point in the year. But some Congressional aides still expressed hope and said talks would continue.

Expect this to harden even further when Obama takes office, despite the fact that Obama may be even less hated by the GOP than is George W. Bush.

UPDATE: Actually, 10 Republicans did vote for the measure, but that wasn't enough.

Speaking of last night, several readers have written to note that the vote to end the Republican filibuster did not fall strictly along party lines. Four Democrats voted with the GOP to block a vote on the bill: Max Baucus of Montana, Blanche Lincoln of Arkansas, John Tester of Montana, and Senate Majority Leader Harry Reid of Nevada.

It's worth keeping in mind that Reid's vote was purely procedural. Reid supported the legislation, but wanted to reserve the right to bring the bill back to the floor. Under Senate rules, that means he had to vote against it, even though he supported it. This was just a procedural move the Majority Leader frequently uses on failed cloture votes.

As for Baucus, Lincoln, and Tester, they voted with the Republicans because they actually opposed the bill.

Labels: ,

0 Comments:

Post a Comment

<< Home

Weblog Commenting by HaloScan.com Site Meter