Bush's alarm: this 'sucker' could fail

[JonLP24]

Source: Barossa Herald

THE prospect of reaching swift agreement on the Bush Administration's $US700 billion ($841 billion) fund to stabilise the world's financial markets deteriorated sharply, even as there were new signs of stress within America's financial system with the collapse of Washington Mutual, the biggest bank to fold in US history.

In dramatic developments, a crisis meeting of congressional leaders broke up about 10.30pm on Thursday after an in-principle deal forged earlier in the day was scuttled by the House of Representatives Republicans, led by their ranking member, John Boehner.

A bipartisan group in the Senate had earlier appeared to endorse "a fundamental agreement" hammered out by senior congressional figures.

<snip>

"If money isn't loosened up, this sucker could go down," Mr Bush declared as he watched the $700 billion bailout package fall apart before his eyes, according to one person in the room.

Read more: http://barossa.yourguide.com.au/news/world/world/general/bushs-alarm-this-sucker-could-fail/1284277.aspx

[gordianot]

1. He should know he's been going down his entire life, plenty experience.

[tanyev]

2. He and Sarah need to get together sometime.

They'd have a wing-ding of a conversation.

[gratuitous]

3. Just the sort of insight you'd expect from an Ivy League MBA

Wow, no wonder this guy was elected twice! He's got . . . just such a way with words, and gets right to the heart of the problem. "This sucker could go down." Genious.