In the most dramatic event of the Presidential campaign, Republican presidential hopeful John McCain has officially suspended his campaign and canceled public appearances so that he can return to Washington and be fully involved in efforts to put together legislation to meet President Bush's call for government support for the unstable mortgage and securities markets.
McCain called for Senator Obama to follow his lead and called "on the president to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself" to find a bipartisan solution to the crisis and in an apparent effort to expedite the lawmaking process and perhaps shortcut Democratic efforts to add pork-like provisions to the proposed legislation to favor pet constituencies. (VIDEO)
Senate Majority Leader Harry Reid was not pleased with the possibility of two presidential candidates appearing on the floor of the Senate and possibly politicizing the legislative process. He commented that "it would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation's economy."
However, McCain's credentials on the issue of banking and mortgage reform are well established, with his membership in the Senate Commerce Committee and his prior efforts to address instability in the mortgage industry through his sponsorship of the Federal Housing Enterprise Regulatory Reform Act of 2005, which was killed in committee by Democrats with ties to the mortgage industry. Had that act passed, the current crisis, which McCain predicted in alarming detail in a 2006 speech, would have been avoided.
With foreclosures cumulatively still under 5% and little public sympathy for fat-cat mortgage bankers or unwise borrowers who bought houses beyond their means, a recent Rasmussen poll shows that only 7% of the public support government efforts to rescue failing financial giants. McCain and his fellow senators face the difficult double challenge of framing workable legislation while at the same time convincing a skeptical public that their proposed shoring up of the financial system will be worth the massive cost of almost $1 trillion in loans and guarantees.
Article comments
— go to most recent comments1 - Cannonshop
Hmmm... could backfire.
2 - Dave Nalle
Indeed it could. But it may also be the best way for McCain to make people aware that while the Democrats were taking money from Fannie Mae lobbyists he was actually working with Bush to try to solve this problem before it became the crisis it is today, a key bit of history which the media is largely ignoring.
Dave
3 - Matthew T. Sussman
This Friday, watch as Barack Obama debates Bob Barr on David Blaine's Dive of Death.
4 - Joanne Huspek
I see already that Mr. Obama is not following his lead, instead insisting that a "president" must be able to multi-task. (I don't know, but most men I know aren't able to do that. Not even the best of them.)
Either way: Low blow to McCain.
5 - Cannonshop
Y'know, I had this hilarious thought...
Setting: Presidential Debate on friday, Barack Obama at his spot, Sarah Palin in the GOP position...
Barack Obama(reading from Teleprompter):"...and my Opponent dropped out at the last minute!" (Rousing applause)"WHO am I running against, A senator, or a lightweight?"
Sarah Palin (pushes up her glasses, straightens. Smiles.):"Senator McCain can't be here tonight, eh, y'see, HE still has a job to do, besides running for the next one." (smiles endearingly at Barack Obama, "Apparently, unlike Mister Obama, John has something Useful to contribute to solving this mess."
6 - Matthew T. Sussman
"(I don't know, but most men I know aren't able to do that. Not even the best of them.)"
Hey, now that's just not fair! I know plenty of men who ... hold on, phone.
7 - Lee Richards
McCain is putting his obligations as a legislator ahead of his interests as a candidate?
It's about time. He hasn't voted on anything in the Senate since early April.
Of course, the fundamentals of the economy were strong...until the wind blew down all his paper bulls.
A Bush/McCain Plan to save us--be still my heart!
8 - Cindy D
Here Dave I'll rewrite it to make it accurate:
In the most melodramatic event of the Presidential campaign, Republican presidential hopeful John McCain has officially suspended his campaign and canceled public appearances so that he can avoid debating Democratic candidate Barack Obama on Friday, having seen Obama's insurmountable jump in popularity since the economic crisis has unfolded.
"Obama rebuffed McCain, saying it's ``more important than ever'' for the candidates to tell voters how they would deal with the crisis. He said they can work with Congress while campaigning. ``It is going to be part of the president's job to deal with more than one thing at once,'' Obama said."
McCain, unable to fathom winning the election and equally unable to handle any more than one thing at once has declined to comment on his own ploy to grandstand and thus hopefully appear as some kind of fucking movie hero to those who like the scarecrow are looking for a brain.
There you go Dave. I fixed it.
9 - Cindy D
McCain commented that he had to suspend his campaign because he doesn't "have time to educate his trainee running mate and prepare for the debate."
10 - Heloise
Heloise hits spot on again. She wrote "just go away little man..." and now McClone says he is going away!! Can you say "McCain Meltdown part deux?"
This Bailout Job, that's what it is folks a real BJ, reminds me of how I dealt with advice from my auntie: Listen politely, then DO THE OPPOSITE!
Yes, we will give Bush (he is undressing the nation tonight) a polite listen, and then we must do the opposite. McCain says we "can fix it." WTF? Fix broken leg on an elephant. I mean what's a pound to an elephant? Wall Street being the elephant, how much money will it eat up before it means anything or feels it?
You NEVER give a person what they ask for. Give them less, they say it's not enough, we say give me some share, they are silent, we say who the fux will be oversight--yet tell us they are blind.
Heloise adds her two cents on what she calls: "The Bailout Bitch" Yes, we should bitch about this crap. Only fast talking salesmen say--buy it NOW!
Palin alert: She says that we are nearing a depression! What the hell does she know other than what she is scripted to say? McCain the pragmatist? Palin calls him a pragmatist. He can't even use Google!!!
11 - Don Jarrett
It appears that McCain now wants to 'surge' into Washington and win the war of the "bail out."
Another 'surge' is all he has to offer.
The problem is that he will be A.W.O.L. from the real conflict he is engaged in.
Dereliction of duty?
12 - Cindy D
McCain's campaign having been caught lying, insists that facts have no bearing on the matter, they aren't changing their position:
"Rick Davis, John McCain's campaign manager, has remained the treasurer and a corporate director of his lobbying firm this year, despite repeated statements by campaign officials that he had ended his relationship with the firm in 2006, according to corporate records.
Filings made by 'Davis Manafort Partners' with the Virginia Corporation Commission as recently as April 1, 2008, show that Davis was still listed as one of only two corporate officers and directors of the firm..."
Regulatory filings indicate that McCain campaign chief Rick Davis remains an officer with his lobbying firm. (Despite absolute denials by McCain Campaign)
13 - Lumpy
well since the last surge worked maybe this one will too. I think the fact that we are fimdimg out now that mccain was right about this crisis two years in advance just like he was about the surge is very significant. makes me wish we'd elected him instead of bush in 2000.
14 - Cindy D
"John McCain's role in the Keating savings & loan scandal of the 1980s appears to be quietly emerging as a campaign issue in the final stretch of the 2008 presidential race.
McCain and four other Senators - known collectively as the "Keating Five" - were accused in 1989 of improperly aiding Arizona banker Charles Keating in efforts to hamper regulatory intrusions on the industry's risky investment practices. McCain, who had received over $100,000 in campaign contributions from Keating, was officially rebuked only for "poor judgment," though his true culpability in the matter may run much deeper than the official charge suggests. At the very least, McCain's history in this matter casts doubt on his claims to be a "maverick reformer," though it is a card that Democrats including Barack Obama have thus far been shy about bringing into play."
um, yeah Lumpy, yea mccain...
15 - Don Jarrett
“well since the last surge worked maybe this one will too”
Well, since the Iraq War is still costing us $10 billion a month, and the violence is down is because we (the taxpayers) pay Sunni chieftains, sheiks, and ring leaders, not to attack the Shiites and other Iraqis, and we can’t afford to continue paying for 140,000 troops staying in Iraq, and an objective was to obtain a political settlement between Sunnis and Shiites, which is unresolved, the final chapter on the ‘surge’ hasn’t been written yet. The 1000-year enmity between Shiites and Sunnis didn’t go away because of the “surge.”
Don’t declare ‘mission accomplished” yet.
16 - Lisa Solod Warren
Guys and Gals, I just want to say, my friends, that, if it were me, or, if it was I, I would, my friends, if I could, I mean, I would just cut off the heads, all of them, of this three-, or four-headed thing of a moose-like animal and shoot it to death.
And I would not blink while I was doing it.
And even though I supported it before I was against it, I would say Thanks But No Thanks.
17 - Lisa Solod Warren
Cindy!!!! And others who need a lift and a truth to power boost.
Best headline of the year: "McCain's Economic Plan: Blurt Out Random Crap"
(and best article too!!!)
18 - Baronius
I love Harry Reid's comment. If he believed what he said, he's given up on representitive democracy. Fortunately, he doesn't even consider whether what he says is true.
19 - Heloise
McCain has kept me in stitches since his first commercial: McClone in the Hanoi Hilton...but he was really in the hospital trying to look like he was still a POW! I was ROTFLMAO. It was not supposed to be funny.
And the headline in Cesna's article: since I am a scientist I was thinking "methane gas" as his solution to the energy crisis. You know McCan could fart out enough methane gas to make the cars in America run for a day...And Palin could line her pockets with Moose burgers to ward off evil spirits!! Those two are hysterical...
No doubt McCain is a scream...too bad he will be going away and we won't have him to kick around.
Heloise
20 - handyguy
Barney Frank described McCain's 'bold move' as precisely what it is: a political stunt. He said the Dems are close to a deal with the White House even without Our Hero helicoptering in to save the day in 'bipartisan' glory.
The looniness of this election keeps going further than one could ever expect. If there is any justice, this will backfire mightily on Steve Schmidt, whose idea it surely was. But who knows what will happen? I sure don't.
21 - Condor
Back when I was young, I read that FDR suspended his inaugural celebrations and assembled his staff to start working on the problems facing the country. I was impressed by that. So much so that in past campaigns with the doom and gloom lead up to the polls why all the other presidents since have chosen celebration over rolling the proverbial sleeves up and getting down to business. Additionally the gawdier the inaugural celebration the more disdain I garnered over the victor, no matter who it was.
Somehow it has become a measure to me. Wouldn't it be refreshing to see that sort of leadership displyed once again.
22 - Condor
"Dive of Death" - Sussman
Commonly referred to in aviation parlance, and the Death Spiral. Auger in and all that, you know... pip pip and tallyho!
23 - Condor
"Barney Frank described McCain's 'bold move' as precisely what it is: a political stunt"
Of course he did, McCain is getting ready to interfere in Franks fifedom.
And that sort of remark only amplifies the problem with Congress... they are not a team. I want a team in there, not a bunch of scrapping idiots who have forgotten those early kindergarten the rules of getting along and working TOGETHER. It's sickening.
They bumper sticker "Clean House and Senate Too" still applies.
24 - pleasexcusetheinterruption
It would be refreshing to see that kind of leadership again Cannon. Somehow I don't think this is it.
Suspending the debates is clearly solely political. Is McCain going to be writing legislation at 9pm at night? What could be more important than debating solutions during a time of crisis?
On the other hand, I'll admit suspending his campaign, is in and of itself a respectable move, although I question his motivations and the final judgment should depend on whether or not he actually DOES something in DC.
Or else it's all just a show.
25 - pleasexcusetheinterruption
Y'know, I had this hilarious thought...
Setting: Presidential Debate on friday, Barack Obama at his spot, Sarah Palin in the GOP position...
Barack Obama(reading from Teleprompter):"...and my Opponent dropped out at the last minute!" (Rousing applause)"WHO am I running against, A senator, or a lightweight?"
Sarah Palin (pushes up her glasses, straightens. Smiles.):"Senator McCain can't be here tonight, eh, y'see, HE still has a job to do, besides running for the next one." (smiles endearingly at Barack Obama, "Apparently, unlike Mister Obama, John has something Useful to contribute to solving this mess."
Cannon, in a week, get back to me and tell me what McCain actually did in DC.