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Take notice David surround us says that in he wrote this in in these times.
Though house Democrats spent yesterday claiming that the original Paulson plan was amended to include stronger protections for taxpayers.
The Treasury Department was simultaneously holding a secret conference call with Wall Street analysts explaining how those new provisions.
Was specifically written to be un enforceable.
Sort of in your gas later in the show he'll explain where he got that story but first.
We're joined by democratic California congressman -- -- Her reaction -- that congressman good evening good to have you here.
What's your reaction to that claim.
Well I don't know if it's true I would be surprised that would obviously hurt over here.
The house -- is nobody missed it is.
Was a negative on -- Monday to my idea disappointment I think as.
Senator Obama just -- in every single leader of the senate has just dead bipartisan.
That what is a crisis now will be catastrophe if we don't pass sacked a relief package the senate is just added to the bills some.
The tax Extenders for energy from renewable energy.
That's a good thing to -- support renewable energy credits however.
-- in the senate -- they're not paid for and that is something that many of us over here I'm part of the blue dog coalition.
I think his name wrong direction.
But even with that I agree with our majority leader Steny Hoyer.
That we must pass this package costs Senator Obama just gave up pretty good remarks by the way I just heard it.
Senator McCain may not deliver remarks on the senate floor I find that astounding.
This is -- critical vote of this term of congress.
And he -- -- I don't understand it and held by the way all forms Republicans from Arizona voted no on the package in the house on Monday he's from Arizona so I think get.
Senator McCain -- -- I hope will will try to deliver some more Republican votes here where we work deficient the Democrats did more than we ran into the Republicans did less.
-- we should point out that that day and there's no word either way and whether or not he will speak he has been expected to speak -- this afternoon and you know his people are just saying we can't confirm.
Or denied at this point -- -- right that's an interesting point lobby watching out of great interest -- resolutely telling representative Pete you know.
And the American people seem to be somewhat -- the other day to a great extent that that first bill was shot down.
Tell them why they should feel so much better about this -- and Wall Street used to be faring OK in the last couple of sessions without a -- Well that's not quite true stock prices have stabilized -- on the hope that we will fix this.
But being credit markets are totally frozen that statistics being given by everyone -- just bump in the senate and I'm sure by those speaking now.
My state of California has 37000.
People the treasurer of California has just said we are running are going to run out of money by the end of the month.
We will not be able to pay nurses teachers firefighters.
Counties and cities and school district in California we'll have no money to pay anyone millions of people as you heard if the unemployment.
That rate goes up to 8% millions of Americans are going to be out of work that hasn't changed since Monday and it's only gonna get worse not better.
Yes that congress doesn't act this is not a beautiful solution now it's actually perfect and this is.
I'm really not great but it is the best that congress can field in a short period of time.
Both candidates for president supported all the leaders of both houses supported and I would -- speaking to the house where I serve.
More Republican members especially those from John McCain's own stage not to step up and I think he needs to be here speaking on the floor and come over to the house and courage are members his members.
Two black put their country first I.
Thank congressman thank you very much and glad you about how the country are shaking their head out -- -- get into this in dire dire situation while everybody was watching.
-- in this -- thank you very much let's --
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