Cheney pleads bailout case to House GOP

WASHINGTON, Sept. 24 (UPI) -- U.S. Vice President Dick Cheney took a bruising when he talked to House Republicans about the $700 billion Wall Street bailout plan, some at the meeting said.

Cheney spoke with House Republicans behind closed doors Tuesday to try to rally them behind U.S. Treasury Secretary Henry Paulson's proposal to stabilize U.S. financial markets, the Web site Politico reported Wednesday.

Texas Rep. Joe Barton told reporters he confronted Cheney "respectfully" about his concerns while another lawmaker said Cheney, White House Chief of Staff Joshua Bolten and economic adviser Keith Hennessey "were in worse shape when they left than when they came in," Politico said.

"There is tremendous unease over the federal government assuming the assets that these financial institutions cannot price or manage," said Alabama Rep. Spencer Bachus.

Republicans are drafting their own version of a bailout plan that would include provisions for government oversight of the bailout program and limiting pay of top executives whose companies seek federal funds.

Democrats also want these two provisions as part of any plan.

One lawmaker at the two-hour meeting said Cheney, Bolton and Hennessey "were the wrong guys" to talk to lawmakers because "they've used up a lot of goodwill."