Reid Threatens Weekend Work in Press for Bailout

Senate Majority Leader Harry Reid (D-Nev.) has used an old Congressional trick

MR. PRESIDENT I FINISHED A MEETING WITH MY STAFF REPRESENTATIVE WHO HAS BEEN WORKING WITH THE TWO BANKING COMMITTEES AND THE WHITE HOUSE ON THE DETROIT SITUATION THAT WE HAVE TRYING TO WORK OUT. I THINK THERE’S BEEN A LOT OF PROGRESS MADE.

I WOULD HOPE THAT THE WHITE HOUSE WILL BE MEETING WITH SENATOR McCONNELL IN THE NEAR FUTURE AND HOPEFULLY WE CAN START MOVING FORWARD ON THIS. MR. PRESIDENT, WE VERY MUCH WANT TO COMPLETE THIS AS SOON AS POSSIBLE. AND I’VE HAD CALLS FROM LOTS OF DIFFERENT SENATORS ALL HAVING VERY IMPORTANT THINGS DEALING WITH THEIR SERVICE AS A SENATOR TO DO AND PLACES TO GO. I THINK IT’S GOING TO BE VERY, VERY DIFFICULT TO GET A VOTE UP TODAY ON LEGISLATION THAT IS NOT DRAFTED UP — MOST OF IT IS BUT THERE ARE A COUPLE OF PROVISION THEY’RE WORKING ON SO I THINK IT’S VERY UNLIKELY THERE WILL BE VOTES TODAY. NOT IMPOSSIBLE BUT UNLIKELY. MORE LIKELY THERE WILL BE SOMETHING TOMORROW BUT EVERYONE SHOULD UNDERSTAND, MR. PRESIDENT, IF WE HAVE A NUMBER OF SENATORS WHO ARE OBJECTING AND WANT TO SLOW THIS DOWN THEY HAVE A RIGHT TO DO THAT AND I UNDERSTAND THAT BUT WE’RE GOING TO COMPLETE THE PROCESS.

THAT BEING THE CASE, EVERYONE KNOWS THE RULES AROUND HERE. AND I DO. IT MAY BE NECESSARY IF WE GET SOME PUSHBACK FROM SOME OF OUR SENATORS THAT WE HAVE TO GO THROUGH A PROCESS OF MOVING TO PROCEED AND CLOTURE AND ALL THAT KIND OF STUFF. IF THAT’S THE CASE EVERYONE SHOULD UNDERSTAND WE’RE GOING TO WORK UNTIL WE COMPLETE THIS.

THE AMERICAN PEOPLE WANT US TO MAKE A DECISION. AND I FEEL FAIRLY CONFIDENT THAT ALL THE WORK THAT’S GONE INTO THIS IS GOING TO BEAR FRUIT AND WE WILL BE ABLE TO PASS LEGISLATION THAT WILL BE GOOD LEGISLATION THAT WILL HELP THE WORKERS. AND WHEN I SAY THE WORKERS, NOT ONLY THOSE DIRECTLY EMPLOYED BY THE AUTOMOBILE MANUFACTURERS BUT SUPPLIERS AND THE BONDHOLDERS AND ON AND ON DOWN THE ROAD. A LOT OF PEOPLE ARE DEPENDENT ON OUR DOING SOMETHING THAT IS APPROPRIATE AND I THINK THAT CAN BE DONE.

BUT WE’RE GOING TO HAVE A VOTE ON THIS SOME TIME. WE CAN EITHER HAVE IT SOONER OR WE CAN HAVE IT LATER BUT EVERYONE SHOULD UNDERSTAND THERE WILL BE NO STALLING US FROM NOT DOING THIS, WE ARE GOING TO COMPLETE THIS LEGISLATION.

THAT MAY MEAN — AND PEOPLE HAVE HEARD ME TALK ABOUT THIS BEFORE BUT EVERYONE KNOWS
I AM SERIOUS ABOUT THIS, THAT MAY MEAN WE HAVE TO WORK THIS WEEKEND. TODAY IS TUESDAY. THE RULES ARE AS THEY ARE AND WE MAY HAVE TO WORK THROUGH THIS. WE CANNOT LET A FEW PEOPLE STOP DOING THE PEOPLE’S BUSINESS.

I THINK SENATOR McCONNELL AND I IS THE SAME VIEW. WE DISCUSSED IT HERE THIS MORNING THAT WE WANT TO MOVE FORWARD MAKING SURE THAT ALL PARTIES FEEL THEY HAVE BEEN PART OF THE PROCESS. THERE IS NOTHING THAT WE COULD DO THAT WOULD BE PERFECT SO WE CAN ONLY DO THE BEST WE CAN DO AND THAT IS WORK THROUGH THIS LEGISLATION AS THE ART OF COMPROMISE AND WE’VE HAD TO DO THAT ON THIS PIECE OF LEGISLATION. SO WE’LL HAVE TO WAIT UNTIL THE WHITE HOUSE COMPLETES MEETINGS WITH THE LEADERSHIP ON THE REPUBLICAN SIDE AND HOPEFULLY TODAY WE CAN HAVE A BETTER DIRECTION AS TO WHEN WE CAN COMPLETE THIS.

I THINK THAT THE SERIOUSNESS OF WHAT WE’RE ENGAGED HERE WITH DETROIT AND THE FINANCIAL BAILOUT OF THE BANKING INSTITUTIONS AND THE FINANCIAL APPARATUS OF THIS COUNTRY HAS BEEN VERY, VERY HARD AND DIFFICULT AND WE NEED TO KEEP MOVING FORWARD. WE HAVE, AS EVERYONE KNOWS, THOUSANDS OF JOBS HAVE BEEN LOST. AND WE NEED TO GET OUR COUNTRY BACK IN A POSITION WHERE WE ARE TALKING ABOUT AND FEEL GOOD ABOUT THE JOBS THAT ARE BEING GAINED, NOT THE JOBS BEING LOST.

HAVING SAID THAT, MR. PRESIDENT, I’LL BE HAPPY TO ANSWER ANY QUESTIONS THAT ANYONE HAS AND MEMBERS KNOW HOW TO GET AHOLD OF ME. I SUGGEST THE ABSENCE OF A QUORUM.

–J. Taylor Rushing