There are many meltdown possibilities here.

1) A Republican Party meltdown. The decision of House Republicans to stand in opposition to the Paulson plan, which appears to have grass-roots support, suggests there will be deep bitterness between those who feel they have no choice but to support the deal and those who think they are standing on ideological principle.

2) A John McCain meltdown. The high-stakes bet he made to attempt to broker a deal may fail along with the deal, which will raise possibly fatal questions about his leadership abilities.

3) An Obama meltdown. A deal is struck today with McCain involved, and Obama’s decision to stand on the sidelines will all but doom him.

4) A Barney Frank meltdown. If, as some reports have it, the Democratic congressman has structured his part of the deal to funnel money into a frankly Leftist “housing”group, and that aspect of the deal is part of what blows it up, Frank will find his agenda dangerously exposed.

5) A Bush meltdown. You think his popularity ratings are low now?

6) And, of course, the actual meltdown that all of this maneuvering appears to be making more likely as every minute passes.