As Wall Street Bailout Talks Continue, House Democrats Form a Skeptics Caucus


As Capitol Hill negotiations on the Wall Street bailout proceeded on Friday afternoon, Representative Brad Sherman, a Democrat who has questioned the under-construction plan, sent out this brief message to his fellow House Democrats:

Skeptical about the Administration’s $700 Billion Bailout Plan?

Dear Democratic Colleague:

Please come to a meeting of the Skeptics Caucus to discuss President Bush’s $700 billion bailout bill. One staffer may attend with you.

The main story today about the bailout is that House Republicans are raising objections to the proposal and blocking a deal. But there are House Democrats worried that the deal-which would let the federal government buy up $700 billion of bad paper from Big Finance firms– is moving too fast and is too problematic. How many? Let’s see who shows.

NOW IS NO TIME TO QUIT

It's been a tough several weeks for those who care about the truth: Congress, the FBI, and the judiciary are seemingly more concerned with providing cover for a foregone conclusion than with uncovering facts.

But we also saw something incredibly powerful: that truth-tellers don't quit, and that speaking up is contagious. I hope you'll read why, even now, we believe the truth will prevail—and why we aren't giving up on our goal of raising $30,000 in new monthly donations this fall, even though there's a long way to go to get there. Please help close the gap with a tax-deductible donation today.

  • David Corn

    David Corn is Mother Jones' Washington bureau chief and an on-air analyst for MSNBC. He is the co-author (with Michael Isikoff) of Russian Roulette: The Inside Story of Putin’s War on America and the Election of Donald Trump. He is the author of three New York Times bestsellers, Showdown, Hubris (with Isikoff), and The Lies of George W. Bush, as well as the e-book, 47 Percent: Uncovering the Romney Video that Rocked the 2012 Election. For more of his stories, click here. He's also on Twitter and Facebook.