Democrats seek bailout ‘sweet spot’

WASHINGTON - After risk-taking on Wall Street brought the financial system to its knees, Democrats and Republicans on Capitol Hill are taking part in their own risk-taking exercise.

With Congress about to adjourn and with elections in less than six weeks, lawmakers are wrestling with what the Bush administration calls a must-pass bill — a $700 billion proposal to rescue the U.S. financial sector.

But it seems increasingly questionable that the bill — still in its drafting stages — will pass by Congress’ self-imposed deadline of Friday, when it is supposed to adjourn for the elections.

Among rank-and-file congressional Democrats, there is deep anger that the end result is likely to be a bailout designed by the Bush administration but made possible only by sufficient votes from Democratic members of Congress.

Yet Democrats face the risk that they will be blamed if they fail to pass a rescue bill and Main Street America feels the impact of an economic disaster.

Democrats seek bailout ‘sweet spot’ – Capitol Hill- msnbc.com