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McCain Denies Reid's Claim He Backs Bailout

By Michael D. Shear and Robert Barnes
NEW YORK -- Sen. John McCain said this morning that he has not assured Democratic leaders of his support for the financial bailout package, disputing comments by Majority Leader Harry Reid that he had.

Reid told reporters Tuesday that, in a private conversation Monday, Treasury Secretary Henry Paulson assured Reid that McCain would eventually back the bailout legislation, which Reid has set as a precondition for approving the bill to tone down the partisan atmosphere surrounding the controversial issue. "I've got some good news," said Reid, adding that it "appears" McCain would back the package.

Before a meeting of his economic brain-trust, McCain denied that report.

Told of Reid's comment that the GOP nominee would vote for the plan put forth by Paulson, McCain said, "I did not say that."

Senior McCain adviser Mark Salter told reporters later that "he hasn't said that to Paulson or to Reid or to anybody else. He hasn't said that to me."

Last night, McCain urged Congress to move quickly to improve and then pass bailout legislation, telling reporters after a plant tour in Freeland, Mich., "Further inaction is simply not an option."

"We must pass legislation to address this crisis," McCain had said. "If we don't, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes, and their life savings will be at stake. Businesses will not have enough money to pay their employees."

Nonetheless, McCain has expressed serious reservations about the $700 billion bailout, calling for greater oversight and more limits on executive pay. And he has steadfastly kept his options open, refusing to say whether he would vote against a plan that does not meet his conditions.

In Michigan yesterday, McCain refused to say whether failure to address the principles of a bailout he had outlined would be enough for him to oppose the bill.

"I can't say that at this time because I think the emphasis should be on the adoption of these principles," he said.

Although he has said the legislation should be bipartisan, he said Democrats should not base their decisions on whether to support the costly legislation based on his commitment to it.

"This is the greatest financial crisis since World War II," McCain said yesterday. "So to somehow for the Democrats to say that their vote is going to be gauged on my vote frankly doesn't do them a great deal of credit."

In New York this morning, McCain gathered a group of wealthy executives and investors for a private briefing on the economy.

Among the advisers: Steve Schwarzman, head of the Blackstone Group equity firm; leveraged buyout pioneer Henry Kravis; eBay CEO Meg Whitman; former Massachusetts governor Mitt Romney; television host and columnist Larry Kudlow; Cisco Systems CEO John Chambers and Merrill Lynch CEO John Thain.

After the meeting, McCain made the following statement:

"Most Americans feel very strongly that this isn't their fault, but it's Wall Street and Washington and the cozy insider relationships that have caused a great part of the problems. So any package that we come up with has got to have transparency, accountability, CEO responsibility and obviously be in the best interest of the people
[of] this country who are going to pay $10,000 per household in order to take the necessary measures to restore our confidence. I thank my friends for coming this morning."

Posted at 11:39 AM ET on Sep 24, 2008  | Category:  John McCain
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Leaders Nancy Pelosi and Harry Reid had the power as leaders to do something about America’s national financial crisis over their last couple of years in Congress. Bush is responsible for signing bills into law, but Pelosi and Reid have the responsibility to set the country's legislative agenda and provide leadership to pass financial institution laws and banking regulations, but they both ignored the looming loan crisis until the very last minute. They failed our nation big time and should resign.

The senators and House leaders on the senate and house banking committee's should also resign because they failed to take action, when they were fully aware the country would eventually face a liquidity and banking crisis. They failed the nation along with the rest of the senate and house that relies on their banking committee to hold hearings, write banking laws and provide legislative oversight of our banking institutions.

The leadership in the White House - Bush, Senate - Harry Reid, House - Nancy Pelosi, and both Democrats and Republican's on the banking committees have failed to provide leadership and foresight to protect and regulate our nations financial system and institutions. Over the years Greenspan warned them that the increasing national debt was unsustainable that could lead to a national financial crisis if other countries lose confidence in our financial system and stop buying our national debt.

Congress just continues to overspend the nations money, give political favors to financial company's that give them political contributions, and add billions of dollars of earmarks for unneeded pork projects and possible fraud.

Did Congress and Bush really think they could run up the national debt forever and the rest of the world would continue to finance all of the nation's debt with a falling dollar? What about worthless American housing loan securities that they bought that are now becoming worthless? No! Now the world is slowly stopping to buy our debt and our nation may go bankrupt. Our only solution is to print more money to make up the difference, only leading to a lower dollar. This in turn may require the fed to increase interest rates to a premium to eventually attract more foreigners to buy more of our risky national debt due to a declining dollar at the expense of our own economy.

Bush, Pelosi and Reid had the legislative and executive power to prevent this nation’s financial crisis but they simply ignored it until the nations financial institutions practically crashed.

Now all American's will suffer, but they will now just continue to blame each other or the other political party, when they were all to blame.

Bush, Reid and Pelosi should all leave office because they over time allowed the nations financial crisis to evolve and continue to get worse until it practically crashed, all on their watch as national leaders. There is a reason that both Bush and Congress have low national approval ratings, it is because they as leaders they have failed to make American better over the years. If either Obama or McCain is elected both leaders in congress should step down so congress can start fresh with new House and Senate leadership so congress once again can gain the confidence and approval of the American public.

The "time of change is now" and we need national leaders to put the "country first" over party politics’ and corporate political donations influences that have led the country to the biggest country's financial crisis since the great depression.

Right now Obama and McCain should both be very involved with what congress is doing with the bailout because it is going to greatly impact their potential presidency in a few months and one of them will need to fix this country’s financial mess as president.

Posted by: edabelia | September 28, 2008 1:47 AM

Leaders Nancy Pelosi and Harry Reid had the power as leaders to do something about America’s national financial crisis over their last couple of years in Congress. Bush is responsible for signing bills into law, but Pelosi and Reid have the responsibility to set the country's legislative agenda and provide leadership to pass financial institution laws and banking regulations, but they both ignored the looming loan crisis until the very last minute. They failed our nation big time and should resign.

The senators and House leaders on the senate and house banking committee's should also resign because they failed to take action, when they were fully aware the country would eventually face a liquidity and banking crisis. They failed the nation along with the rest of the senate and house that relies on their banking committee to hold hearings, write banking laws and provide legislative oversight of our banking institutions.

The leadership in the White House - Bush, Senate - Harry Reid, House - Nancy Pelosi, and both Democrats and Republican's on the banking committees have failed to provide leadership and foresight to protect and regulate our nations financial system and institutions. Over the years Greenspan warned them that the increasing national debt was unsustainable that could lead to a national financial crisis if other countries lose confidence in our financial system and stop buying our national debt.

Congress just continues to overspend the nations money, give political favors to financial company's that give them political contributions, and add billions of dollars of earmarks for unneeded pork projects and possible fraud.

Did Congress and Bush really think they could run up the national debt forever and the rest of the world would continue to finance all of the nation's debt with a falling dollar? What about worthless American housing loan securities that they bought that are now becoming worthless? No! Now the world is slowly stopping to buy our debt and our nation may go bankrupt. Our only solution is to print more money to make up the difference, only leading to a lower dollar. This in turn may require the fed to increase interest rates to a premium to eventually attract more foreigners to buy more of our risky national debt due to a declining dollar at the expense of our own economy.

Bush, Pelosi and Reid had the legislative and executive power to prevent this nation’s financial crisis but they simply ignored it until the nations financial institutions practically crashed.

Now all American's will suffer, but they will now just continue to blame each other or the other political party, when they were all to blame.

Bush, Reid and Pelosi should all leave office because they over time allowed the nations financial crisis to evolve and continue to get worse until it practically crashed, all on their watch as national leaders. There is a reason that both Bush and Congress have low national approval ratings, it is because they as leaders they have failed to make American better over the years. If either Obama or McCain is elected both leaders in congress should step down so congress can start fresh with new House and Senate leadership so congress once again can gain the confidence and approval of the American public.

The "time of change is now" and we need national leaders to put the "country first" over party politics’ and corporate political donations influences that have led the country to the biggest country's financial crisis since the great depression.

Right now Obama and McCain should both be very involved with what congress is doing with the bailout because it is going to greatly impact their potential presidency in a few months and one of them will need to fix this country’s financial mess as president.

Posted by: edabelia | September 28, 2008 1:42 AM

Harry Reid, Barney Frank, Nancy Pelosi - all Jews. Henry Paulson, working for Jewish most of his life. Before he was appointed Secretary of the Treasury in July 2006, Paulson did serve as Chairman and CEO of Goldman Sachs (1999-2006), an investment bank that has had numerous Jewish executives over the years. I thin I don't have to explain why now Henry Paulson pushes for $700b bailout.

Posted by: washpost31 | September 28, 2008 1:03 AM

Harry Reid, Barney Frank, Nancy Pelosi - all Jews. Henry Paulson, who came up with the idea has been working for Jewish most of his life e.g. at Goldman Sachs (yeh, the one that went almost bankrupt due to credit crunch). I think I don't have to explain why now Henry Paulson now pushes for $700b bailout.

Posted by: washpost31 | September 28, 2008 12:55 AM

Why anyone would believe anything Harry Reid says is beyond me.

Posted by: johne37179 | September 26, 2008 1:39 PM

Republicans against bad bailout details.

Liberal Democratic leadership are pushing a bailout deal that puts 20% of the money into the troubled Acorn housing organization. This is pure pork by democrats.

The deal that’s on the table now is not a very good deal. Twenty percent of the money that should go to retire debt that will be created to solve this problem winds up in a housing organization called ACORN that is an absolute ill-run enterprise, and I can’t believe we would take money away from debt retirement to put it in a housing program that doesn’t work.

Posted by: edabelia | September 26, 2008 12:46 PM

CLINTON, MCSAME, BUSH, THEY ARE ALL THE SAME. OF COURSE, THEY ARE JEALOUS WANT OBAMA TO LOOSE...!!!

NETHERLANDS ANTILLES

Posted by: fu_buki | September 26, 2008 12:09 PM

Hi Pals,
>
> I'm against the $85,000,000,000.00 bailout of AIG.
>
> Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve
> It Dividend.
>
> To make the math simple, let's assume there are 200,000,000 bonafide U.S.
> Citizens 18+.
>
> Our population is about 301,000,000 +/- counting every man, woman and child.
> So 200,000,000 might be a fair stab at adults 18 and up..
>
> So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
>
> My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
>
>
> Of course, it would NOT be tax free.
>
> So let's assume a tax rate of 30%.
>
> Every individual 18+ has to pay $127,500.00 in taxes.
>
> That sends $25,500,000,000 right back to Uncle Sam.
>
> But it means that every adult 18+ has $297,500.00 in their pocket.
>
> A husband and wife team has $595,000.00.
>
> What would you do with $297,500.00 to $595,000.00 in your family?
>
> Pay off your mortgage - housing crisis solved.
>
> Repay college loans - what a great boost to new grads
>
> Put away money for college - it'll be there
>
> Save in a bank - create money to loan to entrepreneurs.
>
> Buy a new car - create jobs
>
> Invest in the market - capital drives growth
>
> Pay for your parent's medical insurance - health care improves
>
> Enable Deadbeat Dads to come clean - or else
>
> Remember this is for every adult U S Citizen 18+ including the folks who
> lost their jobs at Lehman Brothers and every other company that is cutting
> back. And, of course, for those serving in our Armed Forces.
>
> If we're going to re-distribute wealth let's really do it...instead of
> trickling out a puny $1000.00 ('vote buy') economic incentive that is being
> proposed by one of our candidates for President.
>
> If we're going to do an $85 billion bailout, let's bail out every adult U S
> Citizen 18+!
>
> As for AIG - liquidate it.
>
> Sell off its parts.
>
> Let American General go back to being American General.
>
> Sell off the real estate.
>
> Let the private sector bargain hunters cut it up and clean it up.
>
> Here's my rationale. We deserve it and AIG doesn't.
>
> Sure it's a crazy idea that can 'never work.'
>
> But can you imagine the Coast-To-Coast Block Party!
>
> How do you spell Economic Boom?
>
> I trust my fellow adult Americans to know how to use the $85 Billion
>
> We Deserve It Dividend more than do the geniuses at AIG or in Washington DC.
>
>
> And remember, The Birk plan only really costs $59.5 Billion because $25.5
> Billion is returned instantly in taxes to Uncle Sam.
>
> Ahhh...I feel so much better getting that off my chest.
>
> Kindest personal regards,
>
>
> T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

Posted by: James | September 25, 2008 10:02 AM

I'm sure that John McCain told Harry Reid that he was convinced that something had to be done about Wall Street to avert another Great Depression, but I doubt very much that he said that he would support the Bush version. Oversight, a limit on executive compensation, and reform would have to be a part of that package, as John McCain has clearly stated.

Posted by: Maria Houser Conzemius | September 24, 2008 8:39 PM

JakeD: Think about it. If Obama wins then Hillary can't run in 2012. Do you think that might have something to do with Bill Clinton not hammering McCain and calling an all out war on the Republicans? After all it's not like they don't know how to do it.
I think they need to appear to be supporting the Democratic Party so it does'nt come back on them later...But secretely want Obama to loose.
I would if I were the Clintons and had 2012 on the radar.

Posted by: Anonymous | September 24, 2008 7:39 PM

What's Senator Obama's job??? What is he being paid for??? Nancy Pelosi is talking for him??? Do your job....follow the leader!!!

Posted by: kevin | September 24, 2008 6:46 PM

Out foxed by the old fox again!!!

Posted by: charlieb | September 24, 2008 6:43 PM

Maybe some of you should listen to former President Bill Clinton who says if Democrats want someone to dump on John McCain, he's not the guy.

(From AP)

Some members of his party have been complaining that Clinton has not been enthusiastic enough in his support for Democratic presidential nominee Barack Obama, who defeated Clinton's wife in the primary campaign, and heaping too much praise on McCain.

But Clinton told CNN's "Larry King Live" on Wednesday that he doesn't think "dumping" on McCain or his running mate, Sarah Palin, is a winning strategy. He said undecided voters aren't interested in attacks but solutions for the problems they face.

"I just don't believe that getting up here and hyperventilating about Gov. Palin, or Sen. McCain for that matter, is a productive use of a former president's time and is not a vote-getter," he said, adding that he admires McCain even though he disagrees with several of his positions.

Posted by: JakeD | September 24, 2008 6:37 PM

Cryos:

That depends on what grounds exactly Roe v. Wade was overturned.

Posted by: JakeD | September 24, 2008 4:32 PM

"In terms of civil liberties, I would rather have products that are bad for my health banned than have my right as a woman to choose banned...is that crazy? I don't think so"

So where is the line drawn? What are the criteria and who decides what is good for our health, our children, the environment etc? That is the problem not trans fats. People should be worried about things being banned/regulated/controlled "for our own good" whether it is health or national security. At some point people have to take responsibility for their own lives and not look to a mommy government to force good decisions.

FYI if Rowe versus Wade got struck down it would simply put the burden back on the states. I am pro-choice politically by the way but pro life personally. I am "conservative" from the point of small government, low spending and personal responsibility.

Posted by: Cryos | September 24, 2008 3:46 PM

"To: Cryos

I'm not talking about people who "gamed" the system. I'm talking about those who at least put money down in good faith, even 5%-10% down, and whose rates increased beyond their means.

The companies who corrupted the system SHOULD be left to crash and burn. The CEOs, Officers and traders who perpetrated this practise, should be rewarded with prison sentences if found guilty."

Agreed with both concepts.

The thing is the "responsible" ones who put money down and are living within their means are a very small percentage of the foreclosures so it would do very little. Most of them don't have subprime mortgages.

So far as the CEOs, traders etc I agree there should be consequences but we have to be careful. Remember it was the government that started this whole mess by FORCING these companies to lower loan standards for the feel good policy of increasing minority home ownership.

Posted by: Cryos | September 24, 2008 3:41 PM

To: Cryos

I'm not talking about people who "gamed" the system. I'm talking about those who at least put money down in good faith, even 5%-10% down, and whose rates increased beyond their means.

The companies who corrupted the system SHOULD be left to crash and burn. The CEOs, Officers and traders who perpetrated this practise, should be rewarded with prison sentences if found guilty.

Posted by: BJ | September 24, 2008 3:16 PM

Only Barack should be able to decide who gets gun or fuel or food for that matter.More Government...It's perfect and I agree 100 percent

Posted by: defendanted | September 24, 2008 3:15 PM

Abortions are a good thing too, the later the better. Too many mouths to feed...

Posted by: defendanted | September 24, 2008 3:09 PM

Obama isn't taking our guns away, he is trying to make it more difficult for guns to get into the wrong hands. Try again

Posted by: Anonymous | September 24, 2008 3:07 PM

McCain suspended his campaign because of my posts. Socialism wins again. Obama needs to hit him now and hard. Pounce Barack Pounce

Posted by: defendanted | September 24, 2008 3:06 PM

Cyros: did you just imply that banning trans fats was a bad thing? good one. Geez, looking after our health sure makes Dems seem like they are taking AWAY from our livelihoods....
And income redistribution does not mean socialism! Obama doesn't want us all to live equally, or to repress our lifestyles. The extreme polarization of wealth is a consequence of letting capitalism run unregulated, and has led to a disgusting gap between a few select rich entrepreneurs and the rest of us. Just because he wants to rectify this gap doesn't mean he preaches socialism.
In terms of civil liberties, I would rather have products that are bad for my health banned than have my right as a woman to choose banned...is that crazy? I don't think so

Posted by: Anonymous | September 24, 2008 3:06 PM

See...Cryos has it right...Now That's why I'm voting Obama. Don't forget the 2nd Amendment thing too...Thanx

Posted by: defendanted | September 24, 2008 3:01 PM

"Obama does not preach socialism! For all you idiots out there who think that raising taxes for the wealthy is equivalent to socialism, you are far off base. "

Well lets see he wants to take more money from people that earn it and give free money to 30%+ people that already pay 0 income taxes. But I guess somehow it is a "tax cut" even though I don't see how you can cut 0.

"Obama wants to expand our civil liberties, not detract them!!"

Yeah liberals habits of taking away rights and banning things in the name of the environment, the children, and our health is so much better than in the name of national security. Trans fats, fast food in South LA, etc. Oh and good luck finding regular light bulbs in 2010. I hope you live somewhere with a mild climate and don't mind your kids inhaling toxic mercury when they break a bulb.

Posted by: Cryos | September 24, 2008 2:55 PM

Who's lie's do we believe? Let WallStreet fall. I heard Katrina hit them, maybe in 10 years WITH Goverment help they can come back. My payroll is secure, don't have any, that's what you call A Small Business in America.

Posted by: taxpayer | September 24, 2008 2:54 PM

Why all the name calling? His platform is based on socialistic principles. I agree with that. Oh..By the way ..Think Palin is the vice presidential choice. Just to let you in on it.Sorry

Posted by: defendanted | September 24, 2008 2:54 PM

How did John Thain get invited to this meeting? Isn't he part of the problem? Merrill had to sell themselves to BofA to avoid Lehman's fate. McCain showed terrible judgement including this guy. I guess it could be worse - Phil Gramm could have been there.

Posted by: ag in nj | September 24, 2008 2:54 PM

defendanted: Its actually hard to keep up with your stupidity and ignorance. Obama does not preach socialism! For all you idiots out there who think that raising taxes for the wealthy is equivalent to socialism, you are far off base. And defendanted believes that Obama wants to tell us what to do! That is laughable in comparison to Palin...Obama wants to expand our civil liberties, not detract them!! Palin is the one trying to control how we live our lives with her extremist policies. You are so full of inaccuracies and misunderstanding that I am perplexed as to how to go about explaining to you the realities of these candidates' campaigns.

Posted by: Anonymous | September 24, 2008 2:48 PM

Look, I love socialism. It expands the economy. It has almost total control of commerce and of the people. When people have no rights, they can't harm themselves. Isn't that what we are looking for..someone else telling us what to do. I hate responsibility. I want Obama in office and we together will make this happen.

Posted by: defendanted | September 24, 2008 2:41 PM

JakeD: So what? So McCain covered his ass after the Keating 5 fiasco....the fact is that he was involved in a scandal, which demonstrates what he is capable of with power and ties to big money. Has Obama been involved in any comparable scandal? No.

Posted by: Anonymous | September 24, 2008 2:40 PM

ZappoDave:

Whether you believe him or not, Sen. McCain says he regrets being involved in the Keating 5. He thereafter dedicated himself to campaign finance reform, and did, in fact, spend the next years pushing for and finally getting it, with McCain-Feingold passed into law. I would hold that legislation up against Obama's rinky-dink ethics rule that "you have to stand up while eating with a lobbyist" any day of the week.

Posted by: JakeD | September 24, 2008 2:38 PM

defendanted: You are doing nothing to enlighten me on why you support Palin/McCain. All you can do is make rather pathetic attempts at jokes. You must have a reason to support them! Your inability to articulate any argument just goes to show that you are mindlessly supporting the crap the the GOP throws at you! Please demonstrate that you can think for yourself, or else you will have proven my point that you are full of hot air

Posted by: Anonymous | September 24, 2008 2:33 PM

Obama enough is enough your words - bail out people not wall street. We were screwed twice once on mortgage fraud and then on gas manipulation.

You want my vote - take a stand

OHIO

Posted by: nevermind | September 24, 2008 2:33 PM

McCain knows all about bailing out rich bankers and screwing over middle class and poor people, he's been doing it for years.


*McCain - Founding Member of the Keating Five:

McCain was one of the "Keating Five," congressmen investigated on ethics charges for strenuously helping convicted racketeer Charles Keating after he gave them large campaign contributions and vacation trips.
Charles Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion. His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

Though he was not convicted of anything, McCain intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions. In the mid-1980s, McCain made at least 9 trips on Keating's airplanes, and 3 of those were to Keating's luxurious retreat in the Bahamas. McCain's wife and father-in-law also were the largest investors (at $350,000) in a Keating shopping center; the Phoenix New Times called it a "sweetheart deal."

http://www.realchange.org/mccain.htm
.


Here's some more Keating 5 straight-talk, my friends:

http://www.youtube.com/watch?v=jxBCAaulG-k
.

Posted by: ZappoDave | September 24, 2008 2:33 PM

Relax...I'm voting for the Obama/Biden ticket. I just have different reasons. I WANT CHAOS!!! Give it to me,now!

Posted by: defendanted | September 24, 2008 2:28 PM

Wonder if it is true that the actual candidate that bumps off mutual opponent will win in November regardless of issues and poll numbers?

Will GOP use Guiliani-like mob ties like the ones used by his protege Bernard Kerik, ex-NYPD commissioner who may be jailed up to 140 years to do the dirty work? According to above article, does it appear that Kerik is already getting a sweetheart exchange deal where his charges may be dropped in exchange for his bumping off mutual opponent while real culprits go unsuspected? Or will Gotti, Jr. be offered the same deal as he too is trying to get his conspiracy and murder charges dropped too?

Will Dems use an OJ Simpson-like, black convict with jail time? It is reported that OJ is trying to get his robbery and kidnapping charges in Vegas dropped against him too yesterday so he may be available also.

Given this information, will we have to worry about our personal safety too? For example, will our car be tampered? Are we safe in the middle of the night inside our home as our habits and plans are known in advanced due to bugging devices?

Posted by: Anonymous | September 24, 2008 2:24 PM

defendanted: You are exactly the kind of moron that landed us with two Bush terms. Congratulations on having such good judgment! Man, the US sure is looking good in Sept of '08....let's just keep digging the hole. I still have yet to see you write something with any semblance of intelligence or logic explaining why someone would vote for Palin/McCain. Please, feel free.

Posted by: Anonymous | September 24, 2008 2:23 PM

Oh...and here comes the name calling...But I wanted you to get it right,that's all...sniff

Posted by: defendanted | September 24, 2008 2:19 PM

Media Exposes Another McCain Lie: Davis Took $15k LAST MONTH from Freddie Mac (Under FBI Investigation)!


The first rule of American Politics, Don't Lie to the Media:

"On Sunday, in an interview with CNBC and the New York Times, Mr. McCain responded to a question about Mr. Davis’s role in the advocacy group by saying that his campaign manager “has had nothing to do with it since, and I’ll be glad to have his record examined by anybody who wants to look at it.”


Rule Two: Don't lie to the Media:

"One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCain’s campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement. The disclosure contradicts a statement Sunday night by Mr. McCain that the campaign manager, Rick Davis, had no involvement with the company for the last several years"


Rule Three: Don't Lie to the Media:

"They said Mr. Davis’s his firm, Davis & Manafort, was kept on the payroll because of Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who was widely expected by 2006 to run again for the White House...."

"Freddie Mac’s roughly $500,000 in payments to Davis & Manafort began immediately after Freddie Mac and Fannie Mae in late 2005 disbanded an advocacy coalition that they had set up and hired Mr. Davis to run, the people familiar with the arrangement said...."


Rule Four: Don't Lie to the media:

"After the Homeownership Alliance was dissolved, Mr. Davis asked to stay on a retainer, the people familiar with the deal said. Hollis McLoughlin, who was chief of staff to Richard F. Syron, Freddie Mac’s chief executive, arranged for a new contract with Davis & Manafort, at the reduced rate of $15,000 a month..."

"No one at Davis & Manafort other than Mr. Davis was involved in efforts on Freddie Mac’s behalf, the people familiar with the arrangement said."

http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?_r=1&hp&oref=slogin


And Oh BTW, Freddie Mac is now under investigation by the FBI...

"Sources say FBI investigating Fannie Mae, Freddie Mac, Lehman Brothers and AIG."

http://news.yahoo.com/s/ap/20080924/ap_on_go_ca_st_pe/financial_meltdown_investigation
.

Posted by: McCain = Bush's third term | September 24, 2008 2:18 PM

defendanted: King Obama? Nice rebuttal. Just goes to show you are full of hot air and have no legitimate reason to support McCain/Palin.

Posted by: independent votersss | September 24, 2008 2:17 PM

Democrats know they are dealing with snakes. They will not make a move until Shady McCain shows his hand. Dems believe that if McCain comes out and say no deal to this GOP scam, all the other GOP rich, good ol boy network scammers in Congress will say no, and that will leave the Dems and Bush Administration trying to pass this bogus GOP scam. No deal until McCain shows his hands.

Posted by: cannot be trusted | September 24, 2008 2:16 PM

To: Democrats for McCain...
News for you, You are NOT a Democrat.

Posted by: Real Simple | September 24, 2008 2:14 PM

defendanted,

Nice try, scumbag. I laugh at your feeble attempt to add more Republican dishonesty to this election.

I'll also be sure to make an extra effort to let my friends know to be there to vote on Tuesday November 4, 2008 to bring down the liar Republicans.

Posted by: Latisha | September 24, 2008 2:14 PM

defendanted: I think a lot of people feel like you do now. We are sick and tired of hearing about how such-and-such corporation or such-and-such social group needs a handout!

What this country and the people in it need is a spanking and mouth washed out with soap. Then sit in the corner until you're excused. Then promise never to do it again.

Damn! I LOVE Mexican immigrants cause they're hardworking! NICE people for the most part! Not like SOME ethnic and "sexually-oriented" groups I know!

Posted by: TommyF | September 24, 2008 2:14 PM

independentvotersss... I want King Obama too.

Posted by: defendanted | September 24, 2008 2:14 PM

you are a funkin whale

Posted by: randal | September 24, 2008 2:12 PM

"Reid's move is partisan in nature. He just wants to define McCain's position, so they will know which way to proceed.

The dems aren't fooling anyone, they want this bailout. But Obama can't take a position before McCain does. If Obama states he will vote for the bailout, and McCain decides that it isn't a good idea and says NO. That puts Obama in a bad political position.

Dems can't have that...they know most Americans don't support this bailout, and they can't risk McCain playing a Maverick and siding with the people...against Obama and Bush."

Yep right on. They need the "McCain is the same as bush" and "McCain only supports the rich" notions to have a chance at the election. It would be really funny if Obama sides with Bush for the rich and McCain opposes it.

Posted by: Cryos | September 24, 2008 2:12 PM

As a charter member of the Keating Five and implicated in a similar fiasco involving the savings and loan industry, Senator McCain should be able to contribute substantial insider insight into the current fiscal catastrophe. His support of the Bush administration and free market principles without regulatory oversight through his economic advisor Phil Gramm's dismantling of oversight must be viewed as one of the gravest errors of leadership in our nation's economic history.

I propose a much simpler approach to the resolution of this fiscal tragedy. Every citizen who voted for Bush kick in $5,000 each to the treasury. If you voted both in 2000 and 2004 for this disaster, double your ante.

Robert

Posted by: Robert Gregg | September 24, 2008 2:11 PM

Keating 5 all over again. No bail out should be made until the FBI investigation of Fannie Mae, Freddie Mac, Lehman, AIG officials who may have illegally caused this.

They can start by investigating McCain's Campaign Manager, Rick Davis, who received thousands of dollars from both Fannie Mae and Freddie Mac from 2007 until last month for doing virtually nothing other than his access to McCain.

Posted by: Shady | September 24, 2008 2:11 PM

you die-hard McCain supporters just appall me! how can you still see any shred of integrity left in the man? Every day he goes back on what he said before. I understand you may not like Barack for his leftist tendencies, but at least he has a new, different vision than McCain, and he doesn't use the same old GOP dirty campaigning tactics. The Palin/McCain campaign has repeatedly hidden the truth, lied, sent hypocritical messages, and smeared other politicians. Haven't you had enough? Don't you remember this happening four, eight years ago? And LOOK WHERE WE ARE NOW! It is undeniable that the US is in awful shape. This nation's electorate truly is incompetent if we allow these lying morons in office.

Posted by: independentvotersss | September 24, 2008 2:10 PM

Socialism = a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society.

Posted by: Anonymous | September 24, 2008 2:09 PM

Latisha, Remember to vote on Wednesday, the fifth.

Posted by: defendanted | September 24, 2008 2:09 PM

Reid's move is partisan in nature. He just wants to define McCain's position, so they will know which way to proceed.

The dems aren't fooling anyone, they want this bailout. But Obama can't take a position before McCain does. If Obama states he will vote for the bailout, and McCain decides that it isn't a good idea and says NO. That puts Obama in a bad political position.

Dems can't have that...they know most Americans don't support this bailout, and they can't risk McCain playing a Maverick and siding with the people...against Obama and Bush.

So don't try and convince me that Reid was simply looking for McCain's support for a bipartisan effort. He needs to know McCain's position.

Reid doesn't feel comfortable moving toward a bipartisan solution in the senate...knowing McCain can decide to put Country First and side with the people.

I am sure this is giving Reid, some major heartburn.

Posted by: dan | September 24, 2008 2:08 PM


SOCIALISM=SLAVERY

Posted by: reason | September 24, 2008 2:05 PM

McCain is just an angry old grouch, approving tv ads that are based on lies.

McCain would rather see our country fall into a depression than lose an election.

Posted by: Latisha | September 24, 2008 2:05 PM

Mr. McCain - stop playing politics with our lives. Just an honest "are you in or are you out" would suffice right now. I think people want to know if you, the great deregulator, have changed your mind on this issue. It's relevant and we have a right to know.

Posted by: dana | September 24, 2008 2:03 PM

Valerious,

I think this has gone beyond partisan blame. Both parties allowed their buddies on wall street to get incredibly rich on junk loans, knowing that a taxpayer bailout would be inevitable when the bubble burst. Both parties now want to blame each other, hoping to distract the American people. The corruption in both parties is sickening, and I just hope that the people stay focused on blaming both parties, letting their representatives know they'll be held accountable if this bailout is just another scam to rip off the public.

Posted by: David P | September 24, 2008 2:02 PM

defendanted: I think a lot of people feel like you do now. We are sick and tired of hearing about how such-and-such corporation or such-and-such social group needs a handout!

What this country and the people in it need is a spanking and mouth washed out with soap. Then sit in the corner until you're excused. Then promise never to do it again.

Damn! I LOVE Mexican immigrants cause they're hardworking! NICE people for the most part! Not like SOME ethnic and "sexually-oriented" groups I know!

Posted by: TommyF | September 24, 2008 2:00 PM

The Democrats are liars and cowards. First, the public record shows they are largely responsible for the current problem because they opposed regulation of Fannie and Freddie in 2003 and 2005. The wanted these to mortgage companies to continue to write loans to everybody and anybody despite the fact that Bush, McCain and Greenspan all warned them of the impending catastrophe that was about to befall them.

Now, the Dems won't vote a bailout until McCain gives them cover. They are afraid if he doesn't go along with it and it fails it will be all on them. What leadership! What conviction!

Is this who we want running this country?

Posted by: Valerius | September 24, 2008 1:55 PM

I want the economy to collapse. Then we can start over with Obama's socialist plan for the country. Food lines,riots,limited energy sources turned on for only a few hours per day and No businesses operating.. just the black market.Take away the 2nd amendment.With no weapons,no stopping the socialist armies rolling over other rights.I'm glad I'm on the Left. I'll be safe there. I so want to receive a check for doing nothing. If there is any money left. HaHa

Posted by: defendanted | September 24, 2008 1:53 PM

McCain is a LIAR!...again.


Another day, another lie revealed. Turns out Rick Davis, McCain's campaign manager, was involved with Freddie Mac. Quite recently.

"One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, according to two people with direct knowledge of the arrangement."

"The disclosure undercuts a statement by Mr. McCain on Sunday night that the campaign manager, Rick Davis, had had no involvement with the company for the last several years."

http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?pagewanted=2&_r=2&hp
.


The issue is that, indeed, on Sunday McCain said that Davis had "nothing to do with" with Freddie Mac since 2005, and invited reporters to check up on it. Well, it turns out reporters did, and Davis was involved after that point, and even right up to the present -- having Davis's company be receiving payments from Freddie Mac as of last month hardly counts as "no involvement." Worse yet, it seems those payments were made specifically because of Davis's "close ties" to McCain.


There's even a little bit of schadenfreude involved, here, in that it was McCain's flagrant lie on the matter that compelled parties to come forward, just to make sure people knew that "not involved" meant "involved, and still taking their money."


"Mr. Davis took a leave from Davis & Manafort for the presidential campaign, but as a partner and equity-holder continues to benefit from its income. No one at Davis & Manafort other than Mr. Davis was involved in efforts on Freddie Mac’s behalf, the people familiar with the arrangement said." [...]

"On Sunday, in an interview with CNBC and The New York Times, Mr. McCain responded to a question about Mr. Davis’s role in the advocacy group through 2005 by saying that his campaign manager “has had nothing to do with it since, and I’ll be glad to have his record examined by anybody who wants to look at it.”

"Such assertions, along with McCain campaign television ads tying Mr. Obama to former Fannie Mae chiefs, have riled current and former officials of the two companies and provoked them to volunteer rebuttals. The two officials with direct knowledge of Freddie Mac’s post-2005 contract with Mr. Davis spoke on condition of anonymity. Four other outside consultants, three Democrats and a Republican also speaking on condition of anonymity, said the arrangement was widely known among people involved in Freddie Mac’s lobbying efforts."

http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?pagewanted=2&_r=2&hp
.

If the McCain campaign is so ticked off at being called liars, they might try, well... not lying. I know, I know, that's so "pre-Bushian" of me.

http://www.youtube.com/watch?v=uXL9Nc-lSvE
.

Posted by: McCain is a Liar! | September 24, 2008 1:52 PM

Please read the following excerpt from Section 8 of the President's proposed bailout package:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

PASS THIS ALONG to anyone you know who might be interested, and contact your congressmen to oppose. This would give unprecedented power to the Executive branch over 700B of taxpayer money. This corruption needs to be stopped before it is rushed into law!

Posted by: David P | September 24, 2008 1:52 PM

Please read the following excerpt from Section 8 of the President's proposed bailout package:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

PASS THIS ALONG to anyone you know who might be interested, and contact your congressmen to oppose. This would give unprecedented power to the Executive branch over 700B of taxpayer money. This corruption needs to be stopped before it is rushed into law!

Posted by: David P | September 24, 2008 1:52 PM

Obama is just an angry old grouch, approving tv ads that are based on lies.

Obama would rather see our country fall into a depression than lose an election.

Posted by: Latasha | September 24, 2008 1:49 PM

The Democrats CANNOT win without cheating. ACORN, paying people to register and vote. Sign up dead people, felons, illegals.

Posted by: TommyF | September 24, 2008 1:44 PM

When 700 billions are given to Paulson to buy bad securities, if it is to do the firms any good, he has to pay them more than their market value- otherwise they would remain undercapitalized. What a fantastic opportunity for those who decide how much to pay to overpay friends and get kickbacks for the election!

Posted by: Cankur | September 24, 2008 1:42 PM

I guess that democrats couldn't figure out that "low income people" aren't going to be able to pay large mortgages. This situation started with the government forcing companies to loan to increase minority ownership. Then greed took over. Prime example of why "feel good" politics are every bit as bad as "greed" politics.

Posted by: Cryos | September 24, 2008 1:42 PM

Posted by: Nevermind | September 24, 2008 1:41 PM

Here are some quotes regarding democrat's resistance to regulation of Fannie/Freddie in 2003. I guess the notion that democrats were fighting for regulation seems to be contradicted by facts.

Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=2

Posted by: Cryos | September 24, 2008 1:40 PM

Harry Reid and the Democrats are sooooooo desperate. I do have to say our entire congress is weak on this issue. No bailout! Let them fail of fix it themselves. Our economy needs a good cleansing and we'll all be better for it.

Posted by: RPF | September 24, 2008 1:39 PM

Maybe we should read what Dave Ramsey says (he agrees with Economist Wesbury about temporarily changing the rule on mark to market in Sarbanes Oxley):

"Call your Congressman. Call your Senator. Tell them to change the mark-to-market accounting law and to extend insurance but extend no loans. If they extend loans - if they borrow the money on the national debt in order for us to all go into the mortgage business a trillion dollars - you're going to fire their butts and send them home.

I've talked with several people today, and it's on the tables in Washington, but it's not something you're going to see on TV. If you'll let your Congressmen know you know about this and that you'll vote against them if they don't vote to change the mark-to-market law and you'll contribute your money to make sure they never serve in office again. That's what you need to tell them early and often."

Read it all here:
http://www1.daveramsey.com/etc/fed_bailout/economic_cleanup_10887.htmlc

Posted by: Patrick Weber | September 24, 2008 1:37 PM

The bailout is corruption at its highest level, similar to the S&L scandel on the 1980s. Wall street executives pay off lawmakers to avoid oversight and regulation. Executives then deal in highly lucrative, high risk loan practices and the millions of dollars in percs that come with it (all legal without regulation). The executives then protect their personal assets, and when it's revealed that the corporation's assets are worthless, taxpayers shell out the money to prop up the corporation.

Pretty simple - executives horde huge sums of money from the taxpayers,while a complicit congress gets their cut.

Posted by: David P | September 24, 2008 1:36 PM

Hahaha - we knew McCain would pull this stunt yesterday! McCain's lies are getting a little too predictable.

Posted by: Anonymous | September 24, 2008 1:32 PM

Reid is an idiot. And a vulture. McCain is the only one with integrity. The reason Reid did this is he knows the bulk of Congress won't vote approve the measure unless MCCAIN approves it. They don't give a DAMN what Obama thinks.

Posted by: TommyF | September 24, 2008 1:31 PM

What I don't understand is "why does everyone have to pay for the mistakes that the AIG and the collapse of the real estate market?" I think we should all get together & protest and get the news to put us on TV so we can say how we really feel. Let them have their money but DON'T raise our taxes, charge us more for food, utilities, gas & whatever else they want, raise theirs, let them pay this back, not us. We didn't fall into the trap and now we have to pay for being smart? Does that make sense? I don't think so. I don't think this whole crisis makes sense and soon the whole election won't make sense. Who would vote for Palin when she can't even speak to anyone unless it's not televised & no one can question her? Why is that, does she not know anything but what they brainwashed her with? And this is who you people want to be VP & possibly President? What a scary thought that is. Wake up Americans, smell the coffee & protest and see what Palin is really NOT all about.

Posted by: Grace | September 24, 2008 1:29 PM

McCain makes "rapid random" decisions. Turn the aircraft left.
Drop to lower altitude. Decide fast, whatever feels good. Often
it's no problem (except for the crows and buzzards). Sometimes
turn right into an upcoming missile! Oh God. Prisoner in a Wall Street vault for five years! Drawing more crosses in the gold dust on the floor (thanks to Alexander Solzhenitsyn). But it is all for America because we put America First and everything else second. Good judgement? Sensible plans? Consultation with advisors who aren't on Wall Street payrolls? That would take too much time.

Posted by: Richaado/California | September 24, 2008 1:28 PM

McCain makes "rapid random" decisions. Turn the aircraft left.
Drop to lower altitude. Decide fast, whatever feels good. Often
it's no problem (except for the crows and buzzards). Sometimes
turn right into an upcoming missile! Oh God. Prisoner in a Wall Street vault for five years! Drawing more crosses in the gold dust on the floor (thanks to Alexander Solzhenitsyn). But it is all for America because we put America First and everything else second. Good judgement? Sensible plans? Consultation with advisors who aren't on Wall Street payrolls? That would take too much time.

Posted by: Richaado/California | September 24, 2008 1:28 PM

"It has been a bipartisan effort, even Bush acknowledges that, as do reporters who are covering this historic event. Sounds like more of his whining. It's getting rather annoying to hear McCain and his campaign people whine and complain, and make excuses for things they said or have done that have been controversial and self-serving."

I love how in one post people bash Bush and then in the next post they use Bush or Rove as justification to do something. Choose which one it is and don't think people are stupid enough for you wanting to play both sides.

I know you want more ammo for "McCain is the same as Bush" and "McCain is for the rich" so you want McCain to accept the bailout. Hopefully he does not support it or he proves the race is between a socialist/marxist and a proven neo-con.

Posted by: Cryos | September 24, 2008 1:23 PM

McCain appears to be under some pressure by the thinking conservatives not to go for the economic propping underway. They want the bottom now, apparently. They might be more efficient but their plan means every failing institution will be purchased by foreign money. Now the bailout may mean that too. So it's a real mess. We do not need another Hoover right now. We need a Lincoln Roosevelt Kennedy LBJ and more. If McCain's got a better idea he needs to say so at tonight's debate.

Posted by: Gaias Child | September 24, 2008 1:19 PM

America's time is over. Bush and the neocons have destroyed the country. We got what we asked for. Bin Laden is still loose, but thank god Bush kept us safe.

Posted by: JK | September 24, 2008 1:18 PM

If it does not include the items McCain outlined, I hope he votes "no" as well. At least that stakes out the fiscal conservative position.

Posted by: JakeD | September 24, 2008 1:17 PM

This is a one shot deal. They need to get this right.
Unfortunately the problem is too big for either candidate to solve. All we can hope for is that sand bags will patch the levee. Were in over our heads. This country is coming apart at the seams, and all anyone can do is point the finger.
Whatever happened to being united and pulling together when the nation is at risk?
To win this we all have to give up the right to be right and work together. Stop fighting and grow up.

Posted by: Anonymous | September 24, 2008 1:16 PM

So let me get this straight...McCain says that the legislation should be bipartisan, and that "Democrats should not base their decisions on whether to support the costly legislation based on his commitment to it."
In case he hadn't noticed, the entire Congress is working on this bailout plan, Republicans and Democrats. It has been a bipartisan effort, even Bush acknowledges that, as do reporters who are covering this historic event. Sounds like more of his whining. It's getting rather annoying to hear McCain and his campaign people whine and complain, and make excuses for things they said or have done that have been controversial and self-serving. We don't need whiners and "its my way or the highway" leadership in the white house for 8 more years.

Posted by: Aycee | September 24, 2008 1:14 PM

"When they start making payments again, at least money will be flowing back, and the bailout will be directed towards the right people!"

Giving money to ignorant people who bought above their means to own a home is not the "right people." They can get foreclosed on and move into an apartment like they should have been living in in the first place.

Yes the market will fall but too bad; then housing will once again be affordable to hard working middle class people who deserve to be able to buy a home.

Posted by: Cryos | September 24, 2008 1:08 PM

What businesses aren't going to be able to pay their employees banks and companies that can't stay in business without borrowing money? ok then let them fail simple, oh but people won't spend as much money on crap then, ok good, less money to china.

Posted by: Jason | September 24, 2008 1:06 PM

Get rid of the Federal Reserve and you will have solved this problem forever!

Posted by: John | September 24, 2008 1:05 PM

Steve:

You really think that Charlie Gibson agrees with Palin and didn't ask her any difficult questions?! Dick Cheney didn't give a single press conference as VP candidate in 2000. Gov. Palin OTOH has done MULTIPLE interviews and rallies directly with the American people (with more planned). Here's the count:

PRESS -- Gibson (ABC) Sept. 11 and 12; Hannity (Fox) Sept. 18 and 19; Bartiromo (CNBC) Sept. 24; Couric (CBS) Sept. 29 and 30; Ifill (PBS) Oct. 2

PEOPLE (Magazine) -- August 29

PEOPLE (Townhalls) -- various, including rallies upward of 60,000+ in Florida, etc. Another massive rally is planned for California on Oct. 5

Next canard?

Posted by: JakeD | September 24, 2008 1:02 PM

blah blah blah. I've never seen so much blather in comments!
No bailpouting allowed.
Haven't any of you learned how to detect confidence men?
Two things that always mark them are fast talk and hurry hurry before it's to late for you to cash in.
You never can get a word in edgewise with these types.
They will certainly bail out the big business interest cause they are all in bed with them.
If you thought that you would be given a choice I say wise up now.
They are planning to rape our money and give us empty promises.
Clean house on the government and get rid of slimey libber and self serving "capitalists" who are prefered verses commoners.
Capitalism for commoners and socialism for captains of industry
is the way of communist sympathisers who claim to be capitalists.Say PUTIN 3 times.
Iv'e closed my ears to these bailout confidence men on both sides of the aisle and across the waters..
No bailout without proper compensation period.
Let the economy crash and burn first.The Pheonix that is our great country deserves to be washed clean of its excesses.
You will never remove greed but to not do anything to control it is far worse in its results.

Posted by: steve | September 24, 2008 1:01 PM

ABCNews blog "Political Radar" has blocked my posts.

Posted by: JakeD | September 24, 2008 1:00 PM

Ten of us are Democrats voting for McCain and when we posted to the CNN comment sections over the last two weeks every one of them was blocked. Kudo's to ABCNews and voices.washingtonpost who consistently passed the tests. Terrifying to see the censorship and manipulation resulting at CNN, MSNBC and MSM where headlines like these that don't accurately represent the concerns of moderates.

Posted by: Democrats for McCain | September 24, 2008 12:57 PM

McCain keeps making stupid moves. The latest on CNN is that Palin agreed to troopergate investigation, but there is a CATCH. She does not agree to cooperate with the bi-partisan investigation, instead she wants to be investigated by her OWN committee. What crap. That is like those stupid congressional committees who investigate themselves. There is no ethics in politicians. They give themselves their own raises, investigate themselves and the only time there is any transparency is if they are in complete control.

McCain is especially an idiot and hypocrite. He doesn't put country first, he doesn't want transparency, he wants control. He drips of Bush political secrecy in his campaign with his two faced rhetoric. Can you imagine if he was President -- the lies, distortion and secrecy that would prevail if he was in office. He hides Palin from the press or controls the press by ensuring he has a mouth piece like republican fox news to do an interview. Look out Foreign leaders, Palin won't talk with you unless you agree with her politics and won't ask her any tough questions -- yea, she is ready to be President alright. Worse, McCain's camp must think the American people are stupid and don't see through his obvious political ploys and lack of honesty. McCain needs to retire and live in one of his eleven homes and spend time driving one of his seven cars instead of driving America into the ground. He has no creditability simply by his own campaign tactics. No wonder his status as a politician drops every day, yet amazingly, he doesn't get it and continues with lies, distortions and not being upfront with American people.

He is worse than a politician....a dishonest man with an ego that thinks he and his cronies are above the law.

Posted by: Steve | September 24, 2008 12:57 PM

How can there be a "solution" if no one is asking, "What REALLY caused this?

TARGETING OF AMERICANS BY GOV'T AGENCIES
A ROOT CAUSE OF WALL STREET MELTDOWN?

Once again, Congress is being asked to rush through emergency legislation -- to cede effective control of the economy to the government.

Officials continue to blame lax lending policies on the part of the mortgage industry for spawning this crisis.

But were lenders ORDERED to offer "easy credit" to people "targeted" by government agencies?

Is government "targeting" of American citizens a root cause of the mortgage meltdown that spawned the broader financial crisis?

Consider this:

http://www.nowpublic.com/world/targeting-u-s-citizens-govt-agencies-root-cause-wall-street-financial-crisis OR
members.nowpublic.com/scrivener

Posted by: scrivener | September 24, 2008 12:50 PM

Hey - let's just solve the issue of this bailout once and for all. Get out your checkbooks everyone and simply write a check for $10,000. send it to the whitehouse and be done with it. Then we can stop this insanity. First of all, there is NO plan in place that makes sense. Bush brought this up just days before Congress 'goes home,' and no one seems to know what to do. Those that got us into this trouble obviously DONT have a solution. Please....McCain is making hysterical statements - clearly he doesn't know what to offer. Obama has at least made a stand. And where is Ms. Palin...the 'darling' of politics...how come she hasn't give us her homespun 'gosh, gee whiz' solution. Is there really any mystery as to why she won't talk to the press...
Ultimately this mess gets cleaned up by each of us writing a check.

Posted by: Bangry | September 24, 2008 12:46 PM

I want to know why it's not possible for the Treasury to just fund Fannie and Freddie (since they're now gov't. entities), to buy up those ailing mortgages, and restructure them so that homeowners can keep their homes. When they start making payments again, at least money will be flowing back, and the bailout will be directed towards the right people!

With the rest of the bailout money, they can then pick and choose which companies are worth bailing out, with the profits coming back to the taxpayers. I believe, this way taxpayers know their money will be used the right way... for the little guy, and not to reward the good 'ol boys at Wall Street.

Posted by: BJ | September 24, 2008 12:39 PM

I am against delaying any longer the relief that all true "americans" want for the executives running our sacred wall street institutions. Its time, my friends, to get big government off the backs of our bankers and allow them to make the wise investment choices that help our economy. These are my friends and advisors, and as a POW, I can vouch for their sincereity and honesty in fleecing the US Treasury!

Posted by: McBush | September 24, 2008 12:33 PM

So much for McCain's claim of being able to work across the aisle. Grandstanding, playing politics, pandering. McCain, More of the Same.

Posted by: thebob.bob | September 24, 2008 12:28 PM

CHI_JEN, WE DON'T TALK ABOUT HER PAINLIN,BECAUSE SHE'S NOT SO IMPORTANT...

Posted by: NETHERLANDS ANTILLES | September 24, 2008 12:27 PM

We Americans need a strong and proactive congress in both houses in order to survive the finacial meltdown that is occurring. Unfortunately, we have Harry already-lost-war-Reid, Sandra I-got-my-millions Pelosi, and Charles tax-you-not-me Rangel at the helm of congress. Fortunately, we can change that this November.
To avoid a complete collapse of the US economy, Americans need to throw this congress out this election cycle. Look what has happened on their watch! Bush-haters can be sure he will be gone ASAP. It is truly frightening to imagine the most socialist big-spending congress of modern times trying to revive a capitalist economy while led by a radical left-wing civil rights activist named Barack Hussein Obama....
http://www.examiner.com/x-852-Atlanta-Civics-Examiner

Posted by: Larry Clifton | September 24, 2008 12:16 PM

McCain is a republican. Of course he will back the plan, but he needs to stomp his feet and act like he is not a republican. It is all just grand standing.

Posted by: Perspective | September 24, 2008 12:14 PM

Every day McCain illustrates why is unsuited for the Presidency. He wants immediate action, he does not support Paulson's plan, he has not offered an alternative, and he criticizes Obama for not doing so. He is a tower of indecision while pretending to be something else.

Posted by: mnjam | September 24, 2008 12:06 PM

The McCain/Palin rally was suppressed by non-other than McCain supporters in the Corporate media.....Moving along...McCain denies, decries, yet, continues to lie...

From factcheck.org

McCain conferance call 5:00 am EST

"My friends, I just wanted to give you a heads up on the DELICIOUSLY FALSE BLATNT POLITICAL PROPAGANDA AD, our gracious and unholy father THE RNC/GOP HAS GIVEN US TO CONTINUE ON IN THIS WAR AGAINST THE AMERICAN PEOPLE AND THE MIDDLE CLASS, WHICH, I THE ULTRA-ELITIST, JOHN MCCAIN TRULY HATE!!!!

ALL BLESING BE UNTO OUR father, "THE great and mighty spin master and unholy liar THE RNC/GOP, thy will be done......"

From factcheck.0rg

Guilt and Associations
September 23, 2008
McCain once again tries to tar Obama with the controversies of others.
Summary
A McCain-Palin ad says that Obama was "born of the corrupt Chicago political machine" and implies that the candidate himself is corrupt by association with four local political figures. But the ad's implication and many of its supporting details are false. In fact, this is a particularly egregious example of ricochet sliming:

William Daley, the first figure mentioned in the ad, is indeed related to the other famous Chicago Daleys, but he's never been accused of any wrongdoing. And the former commerce secretary isn't Obama's only economic adviser, as the ad implies.


Emil Jones, Illinois state Senate leader, may indeed have been Obama's "political godfather." But he, too, hasn't been charged with or even seriously accused of misdeeds despite the ad's claim of an "ethical cloud."


Obama did have a past relationship with real estate developer Tony Rezko, but he is no longer Obama's "money man." Obama hasn't been associated with him since his indictment for wire fraud, bribery, money laundering and attempted extortion, and Obama donated all of the disgraced businessman's previous campaign contributions to charity.
Rod Blagojevich has been touched by plenty of scandal but his relationship with Obama doesn't extend much beyond being "his governor." In fact, Obama has worked on ethics legislation triggered by some of the Blagojevich's questionable moves.
Most important, the ad offers no evidence of wrongdoing by Obama himself in connection with any of these relationships, however close or distant.
Analysis
The McCain-Palin campaign's new ad, "Chicago Machine," tries to tie Barack Obama to four Illinois powerbrokers. The campaign says it will air nationally. We'll take a look at the merits of each individual's "corrupt" status as well as their connection to Obama in turn.


Daley and Nightly


The ad begins with a statement that Obama was "born of the corrupt Chicago political machine," then shows Obama saying that Chicago toughened him up. The announcer returns, saying, "His economic adviser: William Daley. Lobbyist. Mayor's brother."


McCain-Palin 2008: "Chicago Machine"


Announcer: Barack Obama.
Born of the corrupt Chicago political machine.

Barack Obama: In terms of my toughness, look first of all, I come from Chicago.

Announcer: His economic adviser, William Daley. Lobbyist. Mayor's brother.
His money man, Tony Rezko. Client. Patron. Convicted Felon.
His "political godfather." Emil Jones. Under ethical cloud.
His governor, Rod Blagojevich. A legacy of federal and state investigations.

With friends like that, Obama is not ready to lead.

John McCain: I'm John McCain and I approve this message.First off, Obama wasn't born in Chicago and didn't grow up there. He didn't arrive in the city until 1985, after he finished college. As a community organizer, he often fought City Hall. His rise in politics there wasn't a product of grooming by the Chicago machine, though he made allies of some machine politicans along the way.

Second, William Daley isn't "his economic adviser." He may be one of his advisers in that area, but look at some of the others: Former Treasury Secretaries Robert Rubin and Larry Summers, former National Economic Adviser Gene Sperling, former chairpersons of the Council of Economic Advisers Laura Tyson and Joseph Stiglitz, former Federal Reserve Chair Paul Volcker, and Berkshire Hathaway Chairman and CEO Warren Buffett.

Not that Daley is without qualifications himself. He's a former secretary of commerce. But the ad's likely intent here is to remind viewers of the mayoral administration of Daley's father, Richard J., which, though the elder Daley himself was never indicted, was riddled with corruption and patronage politics. The Boss died in office in 1976, almost a decade before Obama arrived in Chicago.

William Daley's brother, Richard M., is the current mayor of Chicago. He hasn't been charged with any wrongdoing, though some members of his administration have been.

But William Daley, the Daley mentioned in this ad, has had no such scandal or corruption allegations leveled against him. The implication to the contrary is false.


Rezko Redux


The ad lists convicted Illinois businessman Tony Rezko as Obama's "money man," "client" and "patron." Rezko was convicted on 16 counts of wire fraud and mail fraud in June. But Obama has not been seen with Rezko for some time, and he donated the former businessman's $11,500 in campaign contributions to charity in 2007.

As we concluded back in December 2007, "Obama has a relationship with Rezko that dates back many years, but there’s no indication Obama did anything improper."


The Godfather


The ad then turns to Obama's "political godfather" Emil Jones, who the ad says is "under ethical cloud." Jones certainly has been a close confidant of Obama and has used the "godfather" verbiage himself – though the relationship wasn't always so cozy. Obama described him as an "old ward heeler" in his memoir.

But the ethics charge could use a bit more explanation.

The words "under an ethical cloud" do appear in a June 16 Associated Press story about Jones. The full quote is:

AP: Another Obama mentor, state Senate President Emil Jones, serves under an ethical cloud. He has several family members on the state payroll and uses his clout to aid their business interests.

Another AP report said: "Jones has relatives on the state payroll, steers state grants to favorite organizations and uses his clout to punish enemies and bury GOP legislation." But there have been no indictments, investigations or serious inquiries into any improper behavior by Jones.


O Governor, My Governor


Finally, the ad turns to "his governor, Rod Blagojevich" and his "legacy of state and federal investigations." His governor? Ooooh. (Cue scary organ music.)

The Democratic governor certainly has been besieged by investigations, controversy and other charges of impropriety. But his connections to Obama are not substantial. Obama is just one of more than 13 million Illinois residents of whom it could also be said that Blagojevich is "their governor."

In a July 2008 New Yorker article, Illinois Democratic Rep. Rahm Emanuel did tell a reporter that "he and Obama 'participated in a small group that met weekly when Rod [Blagojevich] was running for governor.' " But there hasn't been evidence of much contact since then. In fact, the ethics bill that Obama spearheaded while in the Ilinois Legislature was a response to some of Blagojevich's transgressions. And the Chicago Tribune reported that:

Chicago Tribune (Sept. 19): The embattled Illinois governor was shunned by the Obama camp at the Democratic National Convention in Denver last month while several potential opponents to a possible Blagojevich third-term bid were showcased with floor speeches.

Hardly favorable actions from Obama toward "his governor." And no less an authority than Karl Rove said on Fox News' "Hannity and Colmes" yesterday, "Blagojevich only has the most tenuous ties to Obama."

– by Viveca Novak and Justin Bank
Sources
"Obama donates Rezko Contribution," Associated Press. 1 June 2007.

Scott, Janny, "In Illinois, Obama Proved Pragmatic and Shrewd," New York Times. 30 July 2007.

Mitch, Robert and Pearson, Rick, "Blagojevich warns Obama of GOP trap," Chicago Tribune. 19 Sept 2008.


Posted by: need4trh | September 24, 2008 11:47 AM

Posted by: nee4trth | September 24, 2008 12:02 PM

The McCain/Palin rally was suppressed by non-other than McCain supporters in the Corporate media.....Moving along...McCain denies, decries, yet, continues to lie...

From factcheck.org

McCain conferance call 5:00 am EST

"My friends, I just wanted to give you a heads up on the DELICIOUSLY FALSE BLATNT POLITICAL PROPAGANDA AD, our gracious and unholy father THE RNC/GOP HAS GIVEN US TO CONTINUE ON IN THIS WAR AGAINST THE AMERICAN PEOPLE AND THE MIDDLE CLASS, WHICH, I THE ULTRA-ELITIST, JOHN MCCAIN TRULY HATE!!!!

ALL BLESING BE UNTO OUR father, "THE great and mighty spin master and unholy liar THE RNC/GOP, thy will be done......"

From factcheck.0rg

Guilt and Associations
September 23, 2008
McCain once again tries to tar Obama with the controversies of others.
Summary
A McCain-Palin ad says that Obama was "born of the corrupt Chicago political machine" and implies that the candidate himself is corrupt by association with four local political figures. But the ad's implication and many of its supporting details are false. In fact, this is a particularly egregious example of ricochet sliming:

William Daley, the first figure mentioned in the ad, is indeed related to the other famous Chicago Daleys, but he's never been accused of any wrongdoing. And the former commerce secretary isn't Obama's only economic adviser, as the ad implies.


Emil Jones, Illinois state Senate leader, may indeed have been Obama's "political godfather." But he, too, hasn't been charged with or even seriously accused of misdeeds despite the ad's claim of an "ethical cloud."


Obama did have a past relationship with real estate developer Tony Rezko, but he is no longer Obama's "money man." Obama hasn't been associated with him since his indictment for wire fraud, bribery, money laundering and attempted extortion, and Obama donated all of the disgraced businessman's previous campaign contributions to charity.
Rod Blagojevich has been touched by plenty of scandal but his relationship with Obama doesn't extend much beyond being "his governor." In fact, Obama has worked on ethics legislation triggered by some of the Blagojevich's questionable moves.
Most important, the ad offers no evidence of wrongdoing by Obama himself in connection with any of these relationships, however close or distant.
Analysis
The McCain-Palin campaign's new ad, "Chicago Machine," tries to tie Barack Obama to four Illinois powerbrokers. The campaign says it will air nationally. We'll take a look at the merits of each individual's "corrupt" status as well as their connection to Obama in turn.


Daley and Nightly


The ad begins with a statement that Obama was "born of the corrupt Chicago political machine," then shows Obama saying that Chicago toughened him up. The announcer returns, saying, "His economic adviser: William Daley. Lobbyist. Mayor's brother."


McCain-Palin 2008: "Chicago Machine"


Announcer: Barack Obama.
Born of the corrupt Chicago political machine.

Barack Obama: In terms of my toughness, look first of all, I come from Chicago.

Announcer: His economic adviser, William Daley. Lobbyist. Mayor's brother.
His money man, Tony Rezko. Client. Patron. Convicted Felon.
His "political godfather." Emil Jones. Under ethical cloud.
His governor, Rod Blagojevich. A legacy of federal and state investigations.

With friends like that, Obama is not ready to lead.

John McCain: I'm John McCain and I approve this message.First off, Obama wasn't born in Chicago and didn't grow up there. He didn't arrive in the city until 1985, after he finished college. As a community organizer, he often fought City Hall. His rise in politics there wasn't a product of grooming by the Chicago machine, though he made allies of some machine politicans along the way.

Second, William Daley isn't "his economic adviser." He may be one of his advisers in that area, but look at some of the others: Former Treasury Secretaries Robert Rubin and Larry Summers, former National Economic Adviser Gene Sperling, former chairpersons of the Council of Economic Advisers Laura Tyson and Joseph Stiglitz, former Federal Reserve Chair Paul Volcker, and Berkshire Hathaway Chairman and CEO Warren Buffett.

Not that Daley is without qualifications himself. He's a former secretary of commerce. But the ad's likely intent here is to remind viewers of the mayoral administration of Daley's father, Richard J., which, though the elder Daley himself was never indicted, was riddled with corruption and patronage politics. The Boss died in office in 1976, almost a decade before Obama arrived in Chicago.

William Daley's brother, Richard M., is the current mayor of Chicago. He hasn't been charged with any wrongdoing, though some members of his administration have been.

But William Daley, the Daley mentioned in this ad, has had no such scandal or corruption allegations leveled against him. The implication to the contrary is false.


Rezko Redux


The ad lists convicted Illinois businessman Tony Rezko as Obama's "money man," "client" and "patron." Rezko was convicted on 16 counts of wire fraud and mail fraud in June. But Obama has not been seen with Rezko for some time, and he donated the former businessman's $11,500 in campaign contributions to charity in 2007.

As we concluded back in December 2007, "Obama has a relationship with Rezko that dates back many years, but there’s no indication Obama did anything improper."


The Godfather


The ad then turns to Obama's "political godfather" Emil Jones, who the ad says is "under ethical cloud." Jones certainly has been a close confidant of Obama and has used the "godfather" verbiage himself – though the relationship wasn't always so cozy. Obama described him as an "old ward heeler" in his memoir.

But the ethics charge could use a bit more explanation.

The words "under an ethical cloud" do appear in a June 16 Associated Press story about Jones. The full quote is:

AP: Another Obama mentor, state Senate President Emil Jones, serves under an ethical cloud. He has several family members on the state payroll and uses his clout to aid their business interests.

Another AP report said: "Jones has relatives on the state payroll, steers state grants to favorite organizations and uses his clout to punish enemies and bury GOP legislation." But there have been no indictments, investigations or serious inquiries into any improper behavior by Jones.


O Governor, My Governor


Finally, the ad turns to "his governor, Rod Blagojevich" and his "legacy of state and federal investigations." His governor? Ooooh. (Cue scary organ music.)

The Democratic governor certainly has been besieged by investigations, controversy and other charges of impropriety. But his connections to Obama are not substantial. Obama is just one of more than 13 million Illinois residents of whom it could also be said that Blagojevich is "their governor."

In a July 2008 New Yorker article, Illinois Democratic Rep. Rahm Emanuel did tell a reporter that "he and Obama 'participated in a small group that met weekly when Rod [Blagojevich] was running for governor.' " But there hasn't been evidence of much contact since then. In fact, the ethics bill that Obama spearheaded while in the Ilinois Legislature was a response to some of Blagojevich's transgressions. And the Chicago Tribune reported that:

Chicago Tribune (Sept. 19): The embattled Illinois governor was shunned by the Obama camp at the Democratic National Convention in Denver last month while several potential opponents to a possible Blagojevich third-term bid were showcased with floor speeches.

Hardly favorable actions from Obama toward "his governor." And no less an authority than Karl Rove said on Fox News' "Hannity and Colmes" yesterday, "Blagojevich only has the most tenuous ties to Obama."

– by Viveca Novak and Justin Bank
Sources
"Obama donates Rezko Contribution," Associated Press. 1 June 2007.

Scott, Janny, "In Illinois, Obama Proved Pragmatic and Shrewd," New York Times. 30 July 2007.

Mitch, Robert and Pearson, Rick, "Blagojevich warns Obama of GOP trap," Chicago Tribune. 19 Sept 2008.


Posted by: need4trh | September 24, 2008 11:47 AM

Posted by: nee4trth | September 24, 2008 12:02 PM

Why isn't anyone talking about the Alaskan anti-Palin rally last week?

Probably because there's a lot more important things to focus on, like the financial crisis discussed in this article.

Posted by: miguel | September 24, 2008 11:56 AM

Montana State Senator Roy Brown:
"Just days before describing himself as a 'hard-coal miner' to a group of United Mine Workers, Joe Biden spoke out against coal in Ohio and pledged that there would be no new coal plants in the United States. Worse than the Obama-Biden position against Montana coal is the shameless pandering on the campaign trail that supports coal, but if elected, reassures strong opposition. While energy prices soar, the Obama-Biden campaign says no to tapping into proven American energy and instead is proposing higher taxes on oil, coal, and natural gas. Montana voters deserve an honest energy policy -- something they're not getting from Barack Obama and Joe Biden."

Listen to today's conference call with National Members of the Coalition to Protect Coal Jobs: http://blip.tv/file/1287903

Posted by: Scott | September 24, 2008 11:55 AM

Why isn't anyone talking about the Alaskan anti-Palin rally last week?

http://mudflats.wordpress.com/2008/09/14/alaska-women-reject-palin-rally-is-huge/

Posted by: chi-jen | September 24, 2008 11:42 AM

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