Maybe I’m giving the Dems too much credit for political savvy but bear with me.
House Republicans won’t go on record as supporting this to avoid backlash back home from both rednecks and local community banks (BB&T?). Dems knew this soft spot so they keep saying it’s gonna pass so when it doesn’t they can blame the Repub’s.
Someone on Calculated Risk hypothesized that the $700 bil price tag plus the infamous Section 8 were there to force the Dems to be the bad guys killing the “bailout”. Remember, rank in file Repubs only understand simple yes or nos and can’t understand nuances like section 8.
McCain has nothing to do with the Dem’s strategy and he’s just doing anything he can to avoid being on stage with Obama. Remember how bad Nixon looked opposite Kennedy and at least Nixon knew policy. Keep in mind that all the Dems stipulations have nothing to do with the House Repiblicans’ objection to this bill. They oppose the entire premise of a Wall St. bailout. To use a tired phrase, they don’t care what kind of lipstick is put on this pig.
I wouldn’t be surprised if Bush expected the Dems to object only to be caught off-guard when his own party objected, hence his belated prime time speech.