Will the current crisis let McCain pass the mortgage reforms he sponsored but failed to pass in 2006?
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.…
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— go to most recent comments26 - Clavos
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.
Consider this:
It's an election year. A lot of Republican office holders are nervous about their chances in November. McCain, as the top of the GOP ticket, can rally the Republican candidates (many of whom are riding his coattails) to back whatever compromise he helps thrash out in DC. The plan passes, McCain takes credit for it happening, and rides out of Washington on the big white charger.
True or not, it's an easy to set scenario, and he's already played the first scene.
I see Rove's very clever hand in the campaign suspension announcement.
Hope it works.
27 - Cannonshop
Obama's retort sounded...well, like what I expected-his record shows a man perpetually running for the next higher office. He's good at running for office, and that's all he's good at doing, so that's WHAT he's doing.
28 - Cannonshop
Another way to look at this, Lisa, Cindy, is that if Obama REALLY wanted to show us he was made of more than reflections and smoke, he'd take McCain on on the floor, in front of everyone, instead of hiding in his campaign behind his speechwriters.
29 - pleasexcusetheinterruption
It's an election year. A lot of Republican office holders are nervous about their chances in November. McCain, as the top of the GOP ticket, can rally the Republican candidates (many of whom are riding his coattails) to back whatever compromise he helps thrash out in DC. The plan passes, McCain takes credit for it happening, and rides out of Washington on the big white charger.
We'll see.
30 - El Bicho
"McCain's decision to place his obligations as a legislator ahead of his interests as a candidate"
He isn't.
31 - Cannonshop
#32
Not sure I can agree with you, but hey, I didn't think Before this blew up that McCain had a chance even With Palin-he's not telegenic and his opponent is. However, it is amusing to see the dichotomy- Serious Crisis, McCain cuts the bullshit contest and goes back to work, Obama just continues the bullshitting.
And face it, folks, campaigning is all about slinging bullshit, including the Debates. They're beauty contests where nothing but the job is on the line for the Candidates. On the other hand, emergency legislation to deal with an implosion? That's going to work at the job they've already got. The stakes are higher, the chance of truly fucking up is there, and the consequences of truly fucking up aren't like a verbal gaffe in front of an interviewer, it's playing for the marbles and it's somewhat accountable. To a lot of people who think Obama's nothing but a shiny smile on a pretty face spouting empty platitudes, this could've been his chance to go in and square off on "home ground" against McCain and show he's REALLY going to change things if we ask him to.
Instead, He's going to keep running for the office he doesn't have yet instead of doing the job he's already got. If I was rating someone for promotion, and they're so busy schmoozing for the promotion that they don't show up for work in an emergency? HELLS no.
32 - Dave Nalle
If you're right, EB, then you're voting for McCain, because he sees the best way of campaigning being to do a good job at the office he's already been elected to. No greater qualification for any job than that.
As for how McCain comes out of this with a bill that makes everyone love him and give him credit, I think that's more problematical. Since the public is so incredibly hostile on both left and right to the idea of any kind of bailout, whatever McCain comes up with is going to have to be pretty radical - he has to come up with a way of satisfying Paulson's concerns which he obviously shares at the same time as pleasing the public by not just rubber stamping the bailout.
My guess is that we'll see McCain's 'Gang of 8/10/12/16/20' moderate Senators backing a bill which has less of a bailout and a lot more regulatory reform than what's currently being considered.
Dave
33 - Cannonshop
And meathooks. Regulatory Reform with Meathooks. anything less is being a wussy.
Obama's missing a chance to REALLY knock McCain around and buy points for his team at the same time in a forum where the shots actually MATTER.
34 - jamminsue
McCain: Keating 5, deregulation supporter. He has no entree into the comittees that are working on the bailout agreement.
The reason I see for the delay is he is bankrupt on this and will implode if he attends the debate.
Don't you remember, Dave, how many pensioners lost out in the early 1980's and no, it was not Jimmy Carter's fault
35 - Dave Nalle
Keating 5 and deregulation have nothing to do with all of this. They're smokescreens thrown up by the left to cover their own culpability.
As for McCain's role, the latest revised bailout bill seems to be coming from the Finance Committee, of which McCain is a member, so having him there is probably a pretty good idea.
Dave
36 - jamminsue
Obama an McCain have no place in the comittees that are deciding the reaction and rules to correct this awful issue.
Obama knows this, and is doing the right thing by staying away.
McCain seems to have forgotten, but wants to make it look like he is doing something, and using this for political measures, which Obama uderstands is NOT what is needed right now.
All Obama and McCain can do, is vote on bills that come to the Senate Floor. Studying towards making an eduacted decision can be done anywhere; this should be part of the prep for current debate, and should not be a disruption to the debate.
Calls to Paulson and Dodd, asking for information as they are the main people involved is the appropriate things for Obama and McCain to be doing.
37 - Baritone
I can see it now.
The scene opens on Senate members embroiled in hashing out terms of the "bail out" in a smoke filled room (of course there's no smoking allowed - the smoke is artificial and non-toxic,) having made absolutely no progress when in rushes SUPER JOHN MCCAIN, decked out in his red cape and tights , to the rescue! (Trumpets sound heroically) "Bom pa, da, da!"
SJ: "All right men - and (winking deferentially) you pretty little ladies - gather round. I'm here to save the day! I'VE GOT THE PLAN!
Now, I don't understand much about the economy, but me and my boys - uh, you've all met my boys, haven't you? (motioning toward the doorway where four or five toughs in dark suits, white ties and fedora hats stand menacing - feet wide apart, the Senators silently nodding in fear and awe) - yeah, me and my boys got this bail out thing all figured out."
Random Youngish Senator: (Enthusiastically) "What are ya gonna do SJ? Set up a strict regulatory commission with veto powers and oversight to insure transparency?"
SJ: "What? Hell no. What we're gonna do is bomb Fannie Mac and that Freddie Mae, and then - bingo - we're gonna bomb Wall Street. That's the kinda straight talk I'm talkin' about, by god!" (The four or five toughs nod and chime in saying: "Dat's right boss." or "You said it, SJ.")
Another Random Senator: "Of course! That's the ticket! Brilliant! That'll show those elite New England, Ivy League bastards. (Smiling broadly) Hey, maybe that would be a good day to arrange to have The Honorable Senator Obama ring the closing bell at the stock exchange, no?"
SJ: (Slumping over in his chair) "Ooooooooooooo."
Back to the First Random Senator: "Omigod! SJ! What's happening? What's wrong? Are you all right?" (Kneeling down, taking SJ's hand in his.)
SJ: (Now barely audible) "I can't hide it any longer. I'm finished. I have terminal hemorrhoids. I'm bleeding out."
Senator Kay Bailey Hutchison: "Eeew"
SJ: (Briefly rallying) "Never fear though, Sister Sarah has a firm hold on the reigns of power. She'll lead you on into the 21st century steadfastly, with no fear of witches, not to mention that she'll share some really great moose stew recipes." (Dies)
Still Yet Another Random Senator: "He's dead! The Great Maverick is dead! (Gnashes teeth as the scene fades.)
Announcer: "Stay tuned for scenes from next week's all new episode of D.C. Looney Bin." (Whonk! - Announcer gets hit with a rubber chicken.) Muted trumpets play a descending scale - Wa, wa, wa waaaah. (Fade.)
(Insert Cialis Commercial)
B
38 - Cannonshop
jamminsue, you're WRONG.
SENATOR Obama of illinois, is voting "Absent" on the most important legislation this decade. This isn't just-another-budget-item, it's not some cosmetic roleplay of an Ethics bill that both parties will violate with impunity. He was elected to the Senate to DO THIS JOB.
Senator McCain sits on the committee, he put aside the beauty-contest and came into work today.
IF Senator Obama, and Senator McCain are in the same city, working on the same problem, do you suppose maybe there's going to be heavy media coverage, and that their moves will be seen by EVERYBODY, and not just C-Span addicts who don't get much sleep?
This is (could be) the big chance for Obama to show he actually IS a leader with serious credibility that doesn't require nine hours per item to find his accomplishments in obscure corners of the internet.
He's staying away, because he's nothing of what the ad-copy says he is, and he's not ready to face a crisis or put aside his own agenda to do the job he's already got. Instead of going to D.C. and being a Statesman, Barack is staying out and showing he's every inch the empty suit his opponents SAY he is.
39 - Dave Nalle
Obama an McCain have no place in the comittees that are deciding the reaction and rules to correct this awful issue.
As I already pointed out, you're wrong here. McCain is on the Finance Committee which is one of the major players in framing this legislation. Obama could also play a role because he is on the Investigations committee, which will be involved if the current FBI investigation gets to looking at Chris Dodd and Barney Frank for their role in Fannie Mae corruption. But if it comes to that Obama will likely have to recuse himself since he'll probably be under investigation too.
Dave
40 - Cannonshop
#41
Maybe that's the real reason he's staying away...
41 - Dave Nalle
Maybe it's time for Obama to do another tour of Europe - or maybe somewhere farther away where they don't honor extradition.
Dave
42 - jebuff
2 days ago McCain admitted that Obama was “very, very good” in a debate. Now he’s got to help Bush sell his bank nationalization policy? McCain’s contribution, which is marginal in any case, is suddenly more important than letting America see him discuss the foreign policy he proposes to lead the USA with as President?
Sorry, I think he’s convinced he’ll fail face-to-face against Obama.
40 years ago McCain didn’t run scared.
Hell, 12 months ago he was still a feisty maverick.
Sad to see he’s become a stooge for the new powers that be in the Republican party. I had considered voting for the “old” McCain. Now I’m sure to vote Obama.
43 - Arch Conservative
Everything that either one of the men has done for the past year has all been for political gain and not the beenfit of this nation.
To pretend that one is more altruistic than the other, even slightly, is laughable.
But it is also completely laughable to expect a majority of Americans to put their money where "their mouths are" and vote for a third party en masse.
44 - Dave Nalle
Jebuff, McCain was willing to do substantially more debates with Obama than were originally scheduled. Obama insisted on limiting it to two. McCain also wanted them to take questions from the audience and Obama insisted on limiting it to questions from the press. You draw what conclusions you like from that.
Dave
45 - Lisa Solod Warren
By threatening NOT to show up for the debate unless the bailout plan is passed (despite widespread dissent from members of congress on BOTH sides) McCain is effectively blackmailing the American public. AND once again buying into the Bush agenda, proving once and for all he is BUSH THREE.
McCain is the worst candidate possible. And a political prostitute. This is proof positive.
46 - Dave Nalle
Lisa. Stop it. You're more intelligent than this irrational, partisan behavior. The fact that McCain wants to resolve this important issue is not a negative. And he has said not one word about not debating 2, 3 or 4 times before the election once the issue is resolved.
And come on, based on his record, don't you feel a lot more confident that there will be a reasonable bill rather than just a rubber stamp giant bailout with McCain there to provided a moderating influence?
Dave
47 - Mark Saleski
You're more intelligent than this irrational, partisan behavior.
...the entire internet steps aside to watch the LightningBoltOfIrony strike.
48 - Mark Saleski
re: debates. i saw an interesting interview last night with bill clinton and george bush sr. they both agreed that one thing they didn't like about the debates is that you end up worrying about the one gaff that can derail your campaign...when in all liklihood, it has nothing to do with the ability to do the job.
it's all perfomance, and kinda sad.
49 - Heloise
Read my lips: "Panic Paulson Pitches Plan to Gall Street" That's another way to write my headline. Joe says we can put off the 5.5 million dollar debate set up by poor Ole Miss for the two of them.
What's one evening going to do? Dodd already called McCain out: he said they have been working for 5 days 24/7 and McCain has not shown up with his $5,000 makeup job to help nor has he called.
Yes, he pays 5K to look that way.
Heloise
50 - Cannonshop
Dave, do you know how you can confirm when a Republican did something right and his democratic opponent screwed up?
The Dems forget what they said before, and go irrational with venom-unending. Case in point-all the bitching about McCain not being there most of this (election) year before...gone, because now he's there, and now it's bitching because he stood up their prince and went to work instead of doing the scripted beauty contest.
It's very amusing, and it's even more amusing since GW Bush probably saved Obama's ass by asking him to come to washington and issue a joint statement-which he DID.
51 - Dave Nalle
Cannon, the biggest irony is Harry Reid who last week said that Obama, McCain and Biden should all come back to DC for this issue, and when only McCain decided to do it, he announced that McCain was grandstanding.
Dodd already called McCain out: he said they have been working for 5 days 24/7 and McCain has not shown up with his $5,000 makeup job to help nor has he called.
Dodd? You mean the person who has had congressional oversight over Fannie Mae and Freddie Mac and took huge campaign donations from them and did nothing to regulate them and blocked every attempt at reform. That Chris Dodd?
BTW, that interview with Clinton and Bush senior was interesting. Clinton had a lot of positive things to say about McCain and confirmed something I mentioned earlier - that McCain had been willing ot have 4 or more debates and Obama refused to do more than 2.
Dave
52 - Baritone
Assuming that tomorrow's debate is off, it is now likely that it will NOT be rescheduled. Rather, they may instead have an Obama/McCain debate in the place of the Biden/Palen debate which will have the effect of keeping her away from questions and the press even longer.
McCain is a wiley old fart. It is grandstanding, of course. He could offer his two cents worth from anywhere without the necessity of going back to D.C.
The focus of tomorrow's debate could have easily been changed to the economy instead of international affairs. It would have been a perfect opportunity for each candidate to lay out their respective plans to get the economy back on track.
Of course, perhaps McCain should run back to the Senate because, according to Dave all the Democrats are going to jail, whereas all the Republicans are in line for angel wings. Johnny wouldn't want to miss all that.
B
53 - Clavos
McCain is a wiley old fart...
He is, and it's one reason why I'm voting for him; a "wily old fart" as prez sounds like a very good idea.
54 - Baritone
Perhaps I should have said a wiley, forgetful, flip flopping, mean spirited old fart.
B
55 - Clavos
No, you were right the first time...
56 - Clavos
Um, let's see:
"Forgetful?" A strawman, an overblown non-issue.
cf: Former Presidents Clinton and Bush 1 in last night's interview on the topic of debates and their importance.
"Flip-flopping?" A good thing - don't want a prez who's unwilling to listen to the people and change his mind, OR one who won't adjust his thinking when presented with new data.
"Mean spirited?" Just the kind of guy to face down cold blooded assholes like Putin, Ahmadinejad, and Kim (not to mention rapacious CEOs, political hacks like Pelosi, and obstreporous children like Chavez).
57 - Lisa Solod Warren
Oh, Clav, sigh
you just like him cause he's old, like you are.
(okay, kidding)
But really. this whole debate cancellation is such an effing joke.
58 - Baritone
Clav,
I don't believe you were quite so benevolent regarding Obama's supposed "flip-flops" or shifts after he secured the nomination. Different strokes for different folks?
It's hard for me to find any circumstances wherein being "mean spirited" would be a positive factor. Being tough, being determined, even being "wiley" can be very useful in high level negotiations. But being mean spirited is the mark of a small, quibling, disrespectful mind. Displaying obvious disrespect, even to turds like Ahmadinejad can be counter-productive.
B
59 - El Bicho
"he sees the best way of campaigning being to do a good job at the office he's already been elected to."
if that were actually the case, he wouldn't have been away from his job so often, or even headed back last week, but then he was saying everything was all right and now we are on the precipice of a new Great Depression. Even George Will admits how poorly McCain has handled himself during this incident.
60 - Lisa Solod Warren
George Will and many many others. George Will's dissection of McCain's incompetence was brilliant.
61 - bliffle
Many traditional republicans (whose names I remember from years past) have taken exception to McCain and his qualifications.
Didn't even Richard Viguerie denounce McCain?
62 - Dave Nalle
Viguerie is a religious right creep, of course. I'm sure he's no fan of McCain.
Dave
63 - David Black
"It's hard for me to find any circumstances wherein being "mean spirited" would be a positive factor."
Yet, you people on the left have incessantly Bush and Cheney bashed for the last eight years.
Just more proof that libs are hypocrital as well as being a joke.
64 - David Black
"Many traditional republicans (whose names I remember from years past) have taken exception to McCain and his qualifications."
You mean paleo-cons who follow people like Ron Paul and Pat Buchanan, who hate Israel and want this country to be isolationist.
They also think the Constitution should have remained exactly the same as when it was signed in 1787.
That's not what conservatism means anymore. The rules have changed.
65 - Baritone
Bush and Cheney have gone a long way to earn their disrespect. It's a gift.
B
66 - Baritone
McCain, or at least his campaign have made an art of distraction. When it appeared at the culmination of the DNC, that Obama was about to experience a significant surge in the polls, McCain cut the legs out from under that bounce with his announcement of Sarah Palin as his running mate.
Now, as Obama has been slowly but steadily moving ahead in most polls owing in part to McCain's poor handling of the current economic crisis, McCain pulls another stunner out of his ass by announcing the supposed "suspension" of his campaign and his return to Washington. On the surface, it was done to create the image of McCain as a true patriot, going to work to save the country. Hallelujah!
On a more practical level, though, it simply served to change the paradigm by diversion. It is actually a risky thing to do, because a lot depends on what comes out of all this by way of any legislation enacted to forestall the free fall of the economy. Its hard to see how this can turn into a "win" for McCain. It is likely that virtually any agreement will have significant aspects that a large number of people on all sides will find repugnant.
It may well prove to be fortuitous for Obama to remain as distant from those proceedings as possible.
B
67 - Lisa Solod Warren
Actually VIguerie hates McCain but he came around to the ticket when McCain picked Palin.....
68 - Dave Nalle
I like Palin, so I at least have one thing in common with Viguerie, but I still despise him.
And Baritone. If McCain is so clever and slick and devious, I take that as a recommendation for the job.
Plus as far as economics go, now that his record on this and other issues is getting out, it's quite clear that unschooled though he may be he has acquired a better understanding of business and economics during his time in office than many including Obama and Biden.
Plus he's not a terrorist loving marxist stooge, which makes our choice pretty clear.
Dave
69 - whatever
Did anyone notice that McCain didn't actually suspend his campaign.
He held a speech and went to Washington today.
Just like Obama did.
70 - Baritone
Ah, I see. Obama/Biden - Terrorist loving Marxists? Is that your belief? I think you are tipping over the edge. Did you misplace your lithium? You might check under your gun cabinet.
McCain himself first noted his lack of economic acumen. The fact that over 25 or so years in Congress he co-sponsored ONE failed bill that may have had a positive regulatory effect on Fannie and Freddie hardly makes him a champion of government oversite. Nor does it earn him an honorary degree in economics.
"If McCain is so clever and slick and devious, I take that as a recommendation for the job."
Therein lay the central difference between at least you and I. I prefer that my president not be a lying war mongering slime ball - you know, like the one currently in office. You apparently consider that lauditory.
Did you watch the Palin/Couric interview? You consider that doing well? Her squirming was painful. We're all still waiting on the edge of our seats for Sister Sarah to bring Katie that list of McCain's pro-regulatory legislation.
I am quite curious as to why no one has jumped in in defence of McCain's role with the "Keating Five." I'm also curious as to why the Obama people have so far chosen to leave it alone. McCain was fortunate to get off with a slap on the wrist.
B
71 - handyguy
terrorist loving marxist stooge
Dave, you rhetoric has become so...reasoned and non-partisan during the last 7 weeks of the campaign.
/sarcasm,
to borrow a line from Dr Dreadful.
Do you think you could write one comment where you are not 100% percent in favor of whatever McCain and Palin have just done or said in the last 24 hours. I know that you are far too cynical to really have no criticisms of them.
And your every comment on Obama is more cutting and hyperbolic than the previous one. And, of course, rarely supported by the full facts, just as your pro-McCain-Palin shilling is not.
72 - Pablo
Like I have said reapetedly on here, Davey is a shill, it is almost as obvious to me that he is,as the fact that 9/11 was an inside job.
Not only that, but he acts under cover of being some kind of person concerned about human liberty, and freedom, when nothing could be further from the truth. Kind of like the guy who acts as if he is on your side, but when push comes to shove your left holdin the bag. Not my cup of tea, but hey each to his own.
I watched Dave for months act as if he supported Dr. Paul, when he was just settin himself up to assault Paul on an almost daily basis. I am glad however that Nalle has never to my knowledge acted as if he likes/respects Alex Jones. For me knowing that, it only deepens my admiration for him (JONES).
Now we are in the midst of the biggest rip off in world history, coupled with the socialization of not only free markets but of hedge/risk capital. Where is Nalle talkin about socialism now eh? Not a peep out of him in that regard.
As I have said before Dave, you only fool yourself and your accolytes with your fake gesturing on the issues of the day.
My guess, is when he thinks no one else is looking (the voting booth, and they are looking)he will cast his vote for McCain.
You go boy!
73 - Cindy D
"McCain's Economic Plan: Blurt Out Random Crap" LOL Lisa!
B,
Hilarious. I can picture McCain in the superman underoos.
74 - Dave Nalle
Dave, you rhetoric has become so...reasoned and non-partisan during the last 7 weeks of the campaign.
I was just having a bit of fun with that comment about terrorist loving marxists. It's not at all clear that Obama loves terrorists. He just takes their money and political support.
Do you think you could write one comment where you are not 100% percent in favor of whatever McCain and Palin have just done or said in the last 24 hours. I know that you are far too cynical to really have no criticisms of them.
Yes, I could write such a comment. But there seems to be very little need for such a comment. They have plenty of detractors here without me contributing. I'd much rather attack those who have been undeservedly placed on a pedestal by so many. To quote Mencken, my role is to "comfort the afflicted and afflict the comfortable."
And your every comment on Obama is more cutting and hyperbolic than the previous one. And, of course, rarely supported by the full facts, just as your pro-McCain-Palin shilling is not.
I have access to all the facts and make use of them as needed. The problem is that we disagree on which facts are actually relevant. It seems so much more productive to focus on the salient points than to waste time with irrelevancies.
Dave
75 - Baritone
"He just takes their money and political support."
I just love the way Dave casually pitches that crap out there. I assume he's talking about the huge $200 donation Wm Ayers made to Obama's Senatorial campaign. No doubt it was that $200 that put him over the top and Obama has forever since been beholden to him - is in fact completely in Ayers' pocket.
What else ya got Dave? Squat!
B