Bush invites McCain, Obama to discuss bailout

Democrats won a key concession from the White House on legislation to bail out the financial industry on Wednesday, then sought to scale back the $700 billion price tag, as Republican presidential nominee John McCain inserted himself into high-stakes negotiations on the rescue.

President Bush invited McCain and Democratic presidential nominee Barack Obama, along with congressional leaders, to a White House meeting Thursday to discuss the bailout.

With the administration's original proposal deeply unpopular in Congress, top House leaders issued an upbeat statement at day's end saying that they had made progress toward revised legislation. "We are committed to continuing to work cooperatively and on a bipartisan basis to safeguard the interests of the American taxpayers," said Speaker Nancy Pelosi, D-Calif., and House Republican leader John Boehner of Ohio.

But they offered no timetable on a bailout that the administration said was needed more with each passing day.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke spent most of the day in the Capitol, shuttling between public hearings on the proposal and private meetings with lawmakers.

Presidential politics intruded, as well, when McCain said he intended to return to Washington and called on Bush to convene crisis meetings until an agreement was reached on legislation.
The Associated Press: Bush invites McCain, Obama to discuss bailout

-McCain said that they should get back to Washington and take care of Senate business during a crisis. There is a time to interview for a future job and then there is a time to go to work.
-Later that day Bush asks the two candidates to come back to Washington; after all, one of these people will be the President next year.
-Reluctant Obama finally decides to go as long as there is a press team waiting with cameras. Strike a pose!

They just announced on the news that Obama has finally arrived at the Senate building...nice to see him show up for work for a "change".

Have a good one!:s4: