The meeting revealed that President Bush’s $700 billion bid to combat the worst financial crisis in decades had been suddenly sidetracked by fellow Republicans in the House, who refused to embrace a plan that appeared close to acceptance by the Senate and most House Democrats.<\/p>\n
Treasury Secretary Henry Paulson begged Democratic participants not to disclose how badly the meeting had gone, dropping to one knee in a teasing way to make his point according to witnesses.<\/p>\n
And when Paulson hastily tried to revive talks in a nighttime meeting near the Senate chamber, the House’s top Republican refused to send a negotiator.<\/p>\n
“This is the president’s own party,” said Rep. Barney Frank, a top Democratic negotiator who attended both meetings. “I don’t think a president has been repudiated so strongly by the congressional wing of his own party in a long time.”<\/p>\n