Even as Washington officials reached for the bubbly, a prominent House Republican warned that GOP lawmakers may not approve the bailout deal reached last night. “We are not ready to say that a deal is done,” said Virginia Rep. Eric Cantor, who has spearheaded efforts by House conservatives to offer alternatives on the bailout.
Cantor wants the bailout to include stronger provisions for a mandatory mortgage insurance program. Barney Frank said he was “puzzled” by Cantor’s hesitance, noting that the No. 2 ranking House Republican “was in on the negotiations.” “It sounds like House Republicans are still looking for a way to oppose the plan,” Martin Kady blogs on Politico.