Schieffer: Paulson Pleaded for McCain to Save Bailout

So much for a "stunt."

John McCain got involved in the bailout negotiations after Treasury Secretary Henry Paulson told Sen. Lindsey Graham yesterday that the bailout plan would fail unless McCain came in and brought balky Republicans aboard.  That's what Bob Schieffer reported on this morning's Early Show.  Schieffer's account stands in stark contrast with the allegation by Dems like Barney Frank and their MSM cohorts that McCain's moves of yesterday were nothing more than a political "stunt."

Here was Schieffer speaking with the Early Show's Maggie Rodriguez at 7:05 AM EDT today:

BOB SCHIEFFER: I am told, Maggie, that the way McCain got involved in this in the first place, the Treasury Secretary was briefing Republicans in the House yesterday, the Republican conference, asked how many were ready to support the bailout plan. Only four of them held up their hands.  Paulson then called, according to my sources, Senator Lindsey Graham, who is very close to John McCain, and told him: you've got to get the people in the McCain campaign, you've got to convince John McCain to give these Republicans some political cover. If you don't do that, this whole bailout plan is going to fail. So that's how, McCain, apparently, became involved.

Continued Schieffer . . . 

SCHIEFFER: He has gotten what he wants, he's going to have this meeting, kind of a summit today with the president and Barack Obama.  I'm told that the leaders of both parties are getting close to having some kind of a bill. The question, though, is whether rank-and-file Republicans, especially, are going to vote for this. 
And that's where McCain comes in.
Mark Finkelstein
Mark Finkelstein is a contributing editor for NewsBusters.