Some odds and ends floating around the Hill today.
First, read along as our brave colleague Barbara Kiviat liveblogs Paulson and Bernanke’s hearing with the House Banking Committee today.
Second, the House GOP is seriously balking at the bail out and without them it’s going to be very tough getting anything through. As Tom Cole, head of the NRCC, told me this morning:
“Both McCain and Obama are exceptionally important to this, I don’t think that anything will pass that both of them don’t support. And frankly, I think there’s a strong argument that this ought to begin on the other side of the rotunda. Frankly, two out of every three senators aren’t up for reelection and three out of the four people on the national tickets sit in that body. One of them is going to be president.”
Third, does anyone really believe that one of the most unpopular politicians in the country giving a speech on this will be the magic bullet that convinces Republicans to vote for the bail out?
Fourth, it’s important to remember that there are two other moving parts on the Hill: the continuing resolution to fund the federal government through the election and a second stimulus package. I’m told that negotiations with the administration have included give and take from these as well.