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Bailout Politics: The Tools of Congressional Leadership

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THE HOUSE IS NOT A HOME The team
So, Democratic and Republican leaders in the House of Representatives actually followed through on their promise to deliver the needed votes to pass the big Wall Street bailout legislation this afternoon. How did they bounce back after Monday's big defeat? By patiently explaining to reluctant members precisely how the legislation will prevent a catastrophic collapse of America's financial system, right? Eh, something vaguely along those lines was probably mentioned in the last few days. But since a lot of votes went the other way on Monday because, even in the face of a grave national crisis, many politicians were concerned more about their job security than anything else, congressional leaders probably spent a good hunk of their time assuaging and manipulating concerns about the upcoming election. And that's done not with wonk talk, but with blatant vote-getting gambits and other promises of political currency. Let's take a look at what tools your congressional leaders may have used to flip votes in favor of the bailout.

Bailout Bill Sweeteners:
Following Monday's bailout defeat, the Senate added a laundry list of tax breaks appealing to one constituency or another which amounts to about $150 million in total. They also increased the amount protected by the FDIC from $100,000 to $250,000 to appease conservatives, threw in some money for schools for rural representatives, and added a blatant sop for scumbag Rep. Don Young's vote with a provision giving $223 million to Alaskan fisherman.

Fear:
Many House members were likely hoping the bailout would pass on Monday but with their vote against it. The bill's rejection, followed by the unsettling market response, raised the specter of an ineffectual Congress taking more and more heat for worsening financial conditions in the weeks leading up to the election. This was probably a central theme of back-room discussions with bailout opponents on the Hill.

Pork:
When congressional leaders use earmarks and other pork items to influence a member's vote on something, these projects are often stuffed into separate bills. This is harder to pull off at the moment since Congress has already finished most of its pre-election business and has passed legislation funding the government through March. Still, the Bush administration could have worked with House leaders in offering "soft earmarks," promises to spend money on certain projects without official legislative direction, if they felt it necessary to put the bill over the top.

Campaign Cash:
Money buys those vacuous commercials and mail pieces which do a lot more to persuade voters than a politician's actual on-the-job performance, so the promise of a big cash infusion right before the election is hard for any rank-and-file pol to refuse. Congressional leaders have the power to quickly make money rain into a congressman's coffers by arranging for a fundraising event or letter headlined by a big-name political VIP.

Threats:
If leaders know that a member wants something, it's likely to be taken hostage in a tight-vote situation. This often involves the fact that congressional leaders hold sway over the parceling out of stature-enhancers like choice committee slots and chairmanships. Holdouts who covet these things may have been reminded that leaders will be making decisions about leadership and committee assignments in just a few short months.

Crazy Bullshit and Lies:
Leaders in a pinch have been known to say pretty much anything to flip a vote. During that last minute floor frenzy, when the clock is ticking, they will embellish or lie about what is or isn't in a bill (easy since most members don't usually read the bills they're voting on, and the bailout's now about 450 pages long), offer emphatic yet cleverly vague assurances to do something later, or, hell, promise to get your daughter a job in Hollywood.

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