Treasury Secretary Henry Paulson has said the House GOP proposal would not work. “Democratic leaders questioned McCain’s involvement in the House Republicans’ opposition to the plan.” McCain met with House GOP leaders before heading to the White House, but neither party seemed to know what they were talking about:
Boehner and McCain discussed the bailout plan, but Republican leadership aides described the conversation as somewhat surreal. Neither man was familiar with the details of the proposal being pressed by House conservatives, and up to the moment they departed for the White House yesterday afternoon, neither had seen any description beyond news reports.
At the bipartisan White House meeting that McCain “didn’t speak until 43 minutes into the meeting.” He “sat silently for more than 40 minutes, more observer than leader, and then offered only a vague sense of where he stood, said people in the meeting.”