Deal Breaks Down; Rep. Spencer Bachus

From Politico:

Frank gave reporters copies of the House Republicans’ set of principles, and he said that their primary goal — insuring bad bank loans, rather than buying them — had already been rejected by Paulson as unworkable. He noted that no House Republicans raised the insurance idea at a House hearing yesterday; if anyone had, he said, Paulson would have rejected the idea out of hand.

Paulson rejected the insurance plan as unworkable because he knows probably more than any of us how worthless the FDIC is and, similarly, how worthless any loan insurance issued by the federal government would be.

From the same article:

Rep. Spencer Bachus (R-Ala.) stood in for the House Republicans. But as Frank said after the meeting, “he wasn’t even marginally deputized” to speak for his caucus, having been publicly chastened by House GOP leadership earlier in the day. Bachus, said Frank, excused himself from the meeting, explaining that since he wasn’t authorized to speak on behalf of his caucus it wasn’t useful for him to stay.

Who is this guy? Did those McCain staffers he had breakfast with Wednesday dose him with some sort of "maverick juice" that turns once sane individuals into unrepentant risk-takers? It clearly isn't just Barney Frank who was irritated by Bachus' comments, he had been "publicly chastened" by the leadership of his own party! Why don't the Senate GOP do the same to John McCain?!