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McCain Says Yes to Debate in Miss.


Sen. John McCain (R-Ariz.), and his wife Cindy board their campaign plane with former New York Mayor Rudy Giuliani and his wife Judith, left, in Arlington, Va., Sept. 26, 2008. (Gerald Herbert/Associated Press)

By Michael D. Shear
The debate is on.

Sen. John McCain announced in a statement that he is resuming his campaign and will travel to Oxford, Miss., this afternoon to face Sen. Barack Obama at 9 p.m. Eastern time.

In the statement, the McCain campaign said that there had been "significant progress" this morning toward a deal on a financial sector bailout, including the return of House Republicans to negotiations.

"The McCain campaign is resuming all activities and the Senator will travel to the debate this afternoon. Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and
homeowners," the statement said.

The full statement follows:

Statement By McCain Campaign On Negotiations

John McCain's decision to suspend his campaign was made in the hopes that politics could be set aside to address our economic crisis.

In response, Americans saw a familiar spectacle in Washington. At a moment of crisis that threatened the economic security of American families, Washington played the blame game rather than work together to find a solution that would avert a collapse of financial markets without squandering hundreds of billions of taxpayers' money to bailout bankers and brokers who bet their fortunes on unsafe lending practices.

Both parties in both houses of Congress and the administration needed to come together to find a solution that would deserve the trust of the American people. And while there were attempts to do that, much of yesterday was spent fighting over who would get the credit for a deal and who would get the blame for failure. There was no deal or offer yesterday that had a majority of support in Congress. There was no deal yesterday that included adequate protections for the taxpayers. It is not enough to cut deals behind closed doors and then try to force it on the rest of Congress -- especially when it amounts
to thousands of dollars for every American family.

The difference between Barack Obama and John McCain was apparent during the White House meeting yesterday where Barack Obama's priority was political posturing in his opening monologue defending the package as it stands. John McCain listened to all sides so he could help focus the debate on finding a bipartisan resolution that is in the
interest of taxpayers and homeowners. The Democratic interests stood together in opposition to an agreement that would accommodate additional taxpayer protections.

Senator McCain has spent the morning talking to members of the Administration, members of the Senate, and members of the House. He is optimistic that there has been significant progress toward a bipartisan agreement now that there is a framework for all parties to be represented in negotiations, including Representative Blunt as a designated negotiator for House Republicans. The McCain campaign is resuming all activities and the Senator will travel to the debate this afternoon. Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners.

By Web Politics Editor  |  September 26, 2008; 11:35 AM ET
Categories:  B_Blog , John McCain , Primary Source , The Debates  
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Next: Questions Linger Over McCain's Role in Stalled Bailout Talks

Comments

Billw3:

"Eyestrain:

"Cigars don't kill people"

?"

... think about it...

Posted by: EyeStrain | September 27, 2008 9:18 PM | Report abuse

.

Eyestrain:
"Cigars don't kill people"

?

.

Posted by: Billw3 | September 27, 2008 1:21 PM | Report abuse

Starring Will Kane(aka John McCain) in HIGH NOON IN MISSISSIPPI TO MEET HIS opponents and THe voters will feel the love for his COUNTRY FIRST.

Posted by: somers91 | September 26, 2008 9:17 PM | Report abuse

Billw3:

Cigars don't kill people, people (loosely speaking in the current environment) kill people.

Posted by: EyeStrain | September 26, 2008 7:45 PM | Report abuse

McCain's campaign has become so lame that he applied for handicapped plates for the Straight Talk Express bus.

Posted by: TigerPaw1 | September 26, 2008 7:30 PM | Report abuse

"The Role of John McCain in the Bailout Bill"

"Sen. John McCain's role in the current dealings on Capitol Hill should not be overstated positively or negatively, Capitol Hill sources from both parties say.

Democrats are blaming McCain, R-Ariz., for the disastrous meeting yesterday.

They claim there was a deal until McCain showed up.

Not so.

House Republicans were always in large part opposed to the bill.

Rep. Spencer Bachus, R-Ala., had no authority (or command) to negotiate for his House GOP colleagues.

The House Republicans' issues with the bill would have come to the fore either way. House GOP Leader John Boehner didn't have the votes, and in his view, he wasn't about to be rolled by the Democrats and the Bush administration.

Likewise, House Republicans are now praising McCain for his leadership role, for bringing their issues to the forefront.

Actually, as ABC News' Jonathan Karl reports, it was Sen. Barack Obama, D-Ill., who asked Treasury Secretary Hank Paulson for his views of the House GOP bill."

"In short, the dynamic would likely be as it is right now, whether or not McCain had been in Washington, D.C."

"(Though it is worth pointing out that some Senate Republicans give McCain and Obama credit for bringing greater public attention to this issue by coming to Washington, D.C, and that was in large part because of McCain's gambit of suspending his campaign and coming to the Capitol.)"

http://blogs.abcnews.com/politicalpunch/2008/09/the-role-of-joh.html

Posted by: nowanna3 | September 26, 2008 7:02 PM | Report abuse

We need a bailout of the homewoners as well to stem more defaults. Fannie and Freddie can buy all the subprime and sub-a paper, do an automatic refinance at a flat 6% saving a million homes and refinance charges as additional mortgage payments at the end. All mortgages even prime can participate. The mortgage holders take a 10% hit on the price, which together with the coin from good 6% mortgages will alleviate the half million home inventory we have to eat. Any other bailout will put over a million homes on the balance sheet. Our 78.6 share in AIG can be auctioned without the mortgage insurance liability. I Think this would be the cheapest and safest way out. Gamblers don't lose all and people are helped to keep their home.

Posted by: jameschirico | September 26, 2008 7:01 PM | Report abuse

markinaustin

McCain's first statement was...

"I’m directing my campaign to work with the Obama campaign and the Commission on Presidential Debates to delay Friday night’s debate until we have taken action to address this crisis."

http://www.nytimes.com/2008/09/25/us/politics/25words.html?ref=politics

McCain spokesmen said..

"A spokesperson for the McCain campaign has said his peace: If congress hasn’t reached a deal by Friday, there will be no debate."
http://theandersonfactor.wordpress.com/2008/09/25/no-deal-no-debate-mccain-sticks-to-guns/

"McCain will participate in Friday night’s debate if a bill is passed by Friday morning, his adviser Mark Salter said."
http://elections.foxnews.com/2008/09/24/mccain-suspends-campaign-to-help-with-bailout/


I can find some references to McCain saying he would not attend the debate unless the bill was passed, but they don't quote his exact words.

Posted by: nowanna3 | September 26, 2008 6:55 PM | Report abuse

.

EyeStrain:
"The last 7.5 years has been extremely 'shady'. I don't see how a vote for McCain is substantially different than repeating that regrettable vote for Bush.
You are right, he _has_ become more reliable, but not the way I think you meant. He sides with Bush 90%+. ???"

Siding with Bush??? McCain sided with whatever he approved that the Senate worked up. Bush was the one 'siding' with the Senate or vetoing, not McCain. Your statement was a nice try, but no cigar. We reserve the cigar for Clinton and Lewinskey. :)

.

Posted by: Billw3 | September 26, 2008 6:25 PM | Report abuse

The McCain Wall Street rescue plan is out in public now. These are the points:

1. Government should issue insurance to banks for the bad mortgage and loans the banks have in their portfolio.

2. Heavy taxcut for banks who are in trouble.

3. Do not touch CEO pays. If the government curbs CEO compensation, banks won't take the risk to solve the crisis.

McCain and his advisors wrote this proposal and took it to Washington. The main idea why McCain wanted to postpone everything else is because he thought he had a winning proposal that he could hand it to his republican cronies in the house. He handed the proposal in first 15 minutes after landing in Washington. He was careful not to say that he drafted it, since he wasn't sure of the outcome. That is the main reason why the republican house reps did not talk anything about their couter proposal until McCain had comfortably sat at the table. Let us look at the proposal itself.

1. By getting the government to insure bad loans, the banks can expect a check from the government for each and every bad mortgage loan they have. It is like when your house burns down, you collect from the insurance. The insurance company will assume the loss. Here the taxpayer assumes the loss. No questions asked.

2. Taxcut for the rich. As simple as that. With McCain on top you can expect each and every bill, to have that provision. The idea is if there are 100 bills to pass, even if 20 of them pass, they will have that taxcut proposal embedded in them.

3. This is to protect his buddies who have given him many free rides in private jets and vacations to Bahamas etc. Remeber Charles Keating. We just don't know who the current players are but McCain wants to protect them.

Now that Nancy Pelosi had specifically asked her staff to throw McCain out of town so that the rest of the senate and congress can come to some agreement, McCain has no where to go but to Mississippi for the debate.

Posted by: JohnMcCormick | September 26, 2008 6:08 PM | Report abuse

I already know what we're going to hear from McCain tonight. It's the same line of bullcrap that he's been using for the last two years:

"Surge, Drill, POW....my friends"

*rinse and repeat


This is what I really want to hear from John McBush:

"I apologize."


"I John McCain, apologize to the American people that for the last eight years the very tactics I deride were used by me to lie you into a war that killed your sons and daughters and bankrupted your treasury."


"I John McCain, apologize to the American people that since day one of the George W. Bush administration, questioning our opponent's love of country (Obama) has been the go-to card of liars and cheats and the morally bankrupt partisan hacks like myself."


"I John McCain, apologize to the American people that the patriotism-questioning accusations that now, finally, have forced me to rush, sweaty and indignant, to this microphone has been the sole campaign tactic of myself and my party."


"I John McCain, apologize to the American people for the President... who I probably should admit is a Republican... and whom I have used as a fundraising tool to get elected and whom I've voted with at preposterous levels and whom, though I have always secretly hated, knowing he was a incurious, self-hating, daddy-obsessed, 'taint-of-man, I was willing to prop him up until the very moment when he started to threaten my own hold on this election."


"I John McCain, apologize that my greatest wish has been to eat money and crap gold, which is why I'm only NOW so angry about the unrepentant hate and bile spewed by the man sitting behind the once-hallowed desk at 1600 Pennsylvania Avenue."


"And I John McCain, apologize because by making THIS SPEECH/Debate, without acknowledging all the above, I have proven myself to be utterly and completely soulless and a two bit lying thug who above all else craves power for the sake of power and nothing else."
.
http://www.youtube.com/watch?v=hnb2IrsU1Cg
.

Posted by: DrainYou | September 26, 2008 5:51 PM | Report abuse

McCain has missed 412 of 643 Senate votes in the current Congress. Since April 8, he has missed 109 out of 110 votes.

Sen. Barack Obama has also been absent much of the time. But at least Obama showed up for a critical Senate vote to try to stop a Republican filibuster against a renewable energy package.

Posted by: 10emlet | September 26, 2008 5:37 PM | Report abuse

House Republicans still don't understand what is going on. The banks have over a trillion dollars in subprime, sub-a, and sour prime mortgages. The reset combined with a dropping sales and service use by a stretched middle class causes a recessive economy. The banks will go belly up without a bailout and the current one makes bankruptcy court the deciders of bank renumeration. There will be 2 million homes in default without a change in our economy, too much for us and our children to pay. The rising home prices made this action of taking 20% of a package Sub-a and Subprime without risk for foreclosed homes are worth more than the mortgage. The prices peaked and are now correcting, and this financial mess as the result. They gambled and should pay 10% of the costs of buyout of these liabilities, and all homes should be refinanced at a flat 6% by Fannie and Freddie, with refinance charges as additional mortgage payments at the end. You will save a million homes this way and still have the 10% difference along with the 6% return on all mortgages taken including new prime switchers. Basically banks would have to be below 6% to compete in the mortgage market. The government has deep pockets to finance this move which would restore liquidity to the lending market. AIG without the mortgage insurance liability could be sold back at maybe a profit. I think this should be added as the banks/investors seem to be getting the full amount for their error.

Posted by: jameschirico | September 26, 2008 5:10 PM | Report abuse

When did McCain say he would not attend the debates unless "the bill was passed"?

Posted by: MarkInAustin | September 26, 2008 4:53 PM | Report abuse

Billw3:

The last 7.5 years has been extremely 'shady'. I don't see how a vote for McCain is substantially different than repeating that regrettable vote for Bush.

You are right, he _has_ become more reliable, but not the way I think you meant. He sides with Bush 90%+. ???

Posted by: EyeStrain | September 26, 2008 4:34 PM | Report abuse


nowanna3 re McCain:
"So what exactly has he accomplished?"

I believe he helped firm up first-hand an effort to redraft a bill more amenable to the American people.

Posted by: Billw3 | September 26, 2008 4:30 PM | Report abuse

Hey, Guys and Gals, I think the Banana Republican house of zealots is beginning to crumble. I'll check it and "get back to ya".

What a ticket: Dumb and Dumber for President and Vice President.

Posted by: 10emlet | September 26, 2008 4:20 PM | Report abuse

As we enter the polling booth ... it is simple ... we forget the SPIN and remember the last 8 years ... I think as an Indepenedent the Democrats showed great respect to the office of the President by approving his initiatives at guiding them into a War in Iraq and in no small irony the Wall Street Bail Out. This Administration sunk Hillary Clinton's chances at being President by the deception and poor judgment getting into the war. And, we see the same thing being attempted by this recent crisis of mis-management ... Suck the Democrat into a hole that the Bush Administration has created. The subprime loans and mortgages and easy borrowing was like paying for votes in the 2004 elections. Are we better off that we were 8 years ago? The answer is NO NO NO ... let the Republicans SPIN SPIN SPIN. The American people are not fools.

Posted by: amitchell13 | September 26, 2008 4:17 PM | Report abuse

So markinaustin,

He suspended his campaign, kind of, his surrogates were still sending out press releases, etc. Also said he would not attend the debates unless the bill was passed.

He called for the White House meeting, ok, not sure if that was his idea or Bush's, but he mentioned it first I guess. By accounts McCain and Obama both played a minor role in this meeting and it. I suspect Richard Shelby did most of the objecting on hehalf of the GOP House reps.

Now McCain has unsuspended his sort of suspended campaign, and is attending the debate, with no bill passed?

So what exactly has he accomplished?

Lots of press coverage and a photo op at the White House is all I see.

Posted by: nowanna3 | September 26, 2008 3:58 PM | Report abuse

.

Eyestrain:
"Regardless, it is an attempt to remedy a
state of affairs occasioned by the erstwhile Republican (" ... oh, industry is most qualified to regulate itself.") majority, all slight-of-hand subject-changing aside."

I do not vote on party, and voted for Bush the first time, to my regret. I favored Clinton this time. I now favor McCain, as I feel he is more trustworthy, and consider he at least has a far less shady past. Cheers.

.


Posted by: Billw3 | September 26, 2008 3:57 PM | Report abuse

nowanna3:

McCain met with Republicans and put together a coalition that will force a BETTER bill to protect Main Street, not just Wall Street. Whether you think that is a "concrete" action, or not, he did exactly what he set out to do. In my opinion, McCain he took the right action to address this crisis. The following is from his statement Wednesday:

"It has become clear that no consensus has developed to support the Administration’s proposal. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.

Tomorrow morning, I will suspend my campaign and return to Washington after speaking at the Clinton Global Initiative. I have spoken to Senator Obama and informed him of my decision and have asked him to join me.

I am calling on the President to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself. It is time for both parties to come together to solve this problem.

We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved. I am directing my campaign to work with the Obama campaign and the commission on presidential debates to delay Friday night’s debate until we have taken action to address this crisis."

Posted by: MarkInAustin | September 26, 2008 3:43 PM | Report abuse

McCain can box Obama in a corner about the media-culled "victorious" surge, and if he decides to rail against bank bailouts, he'd be one the popular side of public opinion.

McCain can argue he put country first by going to Washington yesterday (he came, saw things were moving along safely and left with a twinkle in his eye) (remember most people work off of superficial information recalled by a lack of short or long term memory.

For Obama should do something he has yet shown he grew a pair; Call Iraq "a war not worth fighting" and if civil war breaks out after we leave that is there problem (most would gladly agree with him), but he won't, will play it safe. Just as McCain fails to tell us how much "Victory" is needed to leave. Obama fails to explain how much chaos is acceptable to leave behind.

Obama's strength would be to link ending the war with opening more billions which to spend here rebuilding America. He should make this link as often as possible.

On the Economy, Obama has a natural advantage because he has a proven history of fighting for more regulation and aid to the poor and hurting middle class. Also the tide has turned in general toward the democratic philosophy of worker rights and government intervention.

McCain has only picked up the wall street regulation mantra a few days ago and seems a bit faked.

It will be an interesting debate, with the reintroduced allowance of candidate redirection and follow-ups, the opportunity for great pointed questions and truth-telling, is potentially raised.

Don't expect a draw.

Posted by: yarbrougharts | September 26, 2008 3:42 PM | Report abuse

Burning Down The House: What Caused Our Economic Crisis?

The video is 10 minutes and you might have to pause it to read it because it moves quickly. It is worth the view. It helps really to understand the crisis we're in and how it started.

http://www.youtube.com/watch?v=H5tZc8oH--o&eurl=http://therealbarackobama.wordpress.com/

Posted by: Diane17 | September 26, 2008 3:31 PM | Report abuse

Hellllloooooo Chris Dodd, Barney Frank Chuck Shumer anybody home?????Why did the feds take WaMu and sell it to JP but the CEO who only worked 17 days is getting to keep 20 million dollars?????? You guys up there in DC?????? You didn't go on vacation yet right???????? Hellllllooooooooo

Posted by: kalexander1 | September 26, 2008 3:08 PM | Report abuse

Posted by Billw3:
nowanna3:
"To call this a Dem bill is I believe a bit misleading."

Yes, I mis-spoke. I would refer to it as a bill with more democratic supporters than republican.
--------------------------------------------

It's a Republican initiative, and in a legislature which is majority Democrat. For it to be able to pass, it would have to have more D than R. That's revisionist hair splitting, Bill.

Regardless, it is an attempt to remedy a
state of affairs occasioned by the erstwhile Republican (" ... oh, industry is most qualified to regulate itself.") majority, all slight-of-hand subject-changing aside.

Posted by: EyeStrain | September 26, 2008 3:02 PM | Report abuse

Posted by: 10emlet | September 26, 2008 3:00 PM | Report abuse

.

nowanna3:
"To call this a Dem bill is I believe a bit misleading."

Yes, I mis-spoke. I would refer to it as a bill with more democratic supporters than republican.

.

Posted by: Billw3 | September 26, 2008 2:49 PM | Report abuse

"yep!
9/11/ 2001 too"


Do yourself a favor and try reading something with an objective perspective. Angry partisan publications are full of lies.

The same sight has an article on how CBS "insulted" Gov. Palin by not calling her governor enough. The only insult was BY the McCain camp TO the American people by trying to hide her near complete ignorance on all major issues and responsibilities...

Posted by: AgnosticEngineer | September 26, 2008 2:41 PM | Report abuse

p.s. I am still not sure of any concrete action that McCain took to help with the rescue bill while in Washington.

From all accounts he did little or made things worse.

Posted by: nowanna3 | September 26, 2008 2:41 PM | Report abuse

Actually I thought it was a bipartisian bill with the exception of the House GOP which were holding out.

The Dem majority if they wanted to could probably force a bill through, but want to have a GOP majority support the bill. This problem happened on a GOP president's watch and the GOP needs to be a major part of fixing it.

To call this a Dem bill is I believe a bit misleading.


"The democratic proposal would burden the taxpayer, and polls show 80% do not want this. While in DC, McCain discussed the alternate proposal with key republican leaders that is less burdonsome to the taxpayer, and the democratic led house now must modify their proposal along this line.
Clearly the less government takeover the better. We shall see how it all playe out with the voting public.

.

Posted by: Billw3 | September 26, 2008 2:26 PM"

Posted by: nowanna3 | September 26, 2008 2:39 PM | Report abuse

You know, I watched the Palin interview with Curic.

I know a normal reaction for an Obama would be to bash her. I wont do that because I actually feel sorry for her.

However, in exchange I expect republicans to be honest and responsible to our country by admitting she is not ready for this.

But you time is ticking, there is a window of opportunity to do so.

Posted by: Dano111 | September 26, 2008 2:29 PM | Report abuse

.

Wadsworth1
"McCain rushes to save the day in Washington! Doesn't get squat done. actually makes things worse ... actually ruins the deal that was just about to pass."

Yuu may be right, maybe not. The democratic proposal would burden the taxpayer, and polls show 80% do not want this. While in DC, McCain discussed the alternate proposal with key republican leaders that is less burdonsome to the taxpayer, and the democratic led house now must modify their proposal along this line.
Clearly the less government takeover the better. We shall see how it all playe out with the voting public.

.

Posted by: Billw3 | September 26, 2008 2:26 PM | Report abuse

"Colberg files suit to quash subpoenas

TROOPERGATE: State attorney general wants them ruled invalid."

"Colberg filed the complaint Thursday in Anchorage superior court, arguing the state Senate Judiciary Committee lacked authority to issue subpoenas demanding that potential witnesses testify in the investigation. He wants a judge to rule them invalid."

"The chairman of the Legislative Council, which authorized the investigation, said he wished Colberg had gone to court earlier if that was his plan.

"I'm relatively comfortable that I know how the court is going to rule. I think that the argument they can ignore subpoenas is specious," said the chairman, Juneau Democratic Sen. Kim Elton. "I'm just sorry that he's waited so long to do it because everyone knows that the clock is ticking.""

http://www.adn.com/sarah-palin/story/537898.html

Posted by: nowanna3 | September 26, 2008 2:23 PM | Report abuse

So can a McCain supporter explain why if this crisis was so dire, how did McCain find time for cable interviews, and pander at the Clinton Initative? That funny isn't it?

Also, I thought McCain was a man of principal. He said he's not going to the debate if there want a clear settlement on the plan? That funny isn't it?

Posted by: Dano111 | September 26, 2008 2:20 PM | Report abuse

One amazing thing I've learned during this election is that I can identify a Republican just by looking at him.

Agreed, it is so funny. The all have the same haircut, and mannerisms.

One thing undecided voters may also notice is they look “wealthier”, better dresses. No wonder they like tax cuts for higher income earners and are against deregulation.

Posted by: Dano111 | September 26, 2008 2:17 PM | Report abuse


The problem with what McCain did isn't that he wanted to help or that he's concerned. No one destitute that. Obama is concerned equally and want a solution also.

It's HOW McCain went about it. He injected unnecessary politics, confusion and panick in an already complex situation. Holding the debate hostage didn't help him, us or the situation. He should be capable doing both as a measure of reassurance. Now everyone is making rash decisions under more pressure than there needed to be.

The fact that Republican and Democrats are squabbling over whether McCains presence was positive or negative prooves Obama was correct in stating it would introduce "political posturing".

He also blindside Obama twice. Once in his selfish decision to grandstand and take the gesture by Obama to use to his political advantage, second by the GOP house balk. He knew what they were up to.

After all this, he just sits in the meeting with his head down while Obama runs the show. Unbelievable.

Very poor judgement on McCains part. He’s too erratic, jittery and risky to be President.

Posted by: Dano111 | September 26, 2008 2:12 PM | Report abuse

One amazing thing I've learned during this election is that I can identify a Republican just by looking at him. There's a certain look and body language to them. Sen. Shelby (AL), for example, is a classic: only one side of the mouth opens when he speaks, that southern drawl and all. Or Lindsey Graham. Or the Boehner guy from OH. And Mitch McConnell certainly looks Republican. He also looks like Steve Forbes' older brother, another Republican-looking guy. Both look like something between a rat and a shark.

However, Chris Dodd (D) looks kinda Republican but Eric Cantor (R) doesn't.
Also, my amplifier tech with whom I've dealt for years, revealed himself this season to be a perfect candidate for either the KKK or the John Birch Society.

Go know!

Posted by: VMR1 | September 26, 2008 2:11 PM | Report abuse

"Welcome To The PalinDrome: Sarah Palin's Blog"

http://sarahpalin.typepad.com/

Funny stuff.

Posted by: nowanna3 | September 26, 2008 2:10 PM | Report abuse

look at the faces on the broads those two old white guys pulled down. I love that picture
_________________

Stepfords wives? Milk tickets? Gravy trains? Geezers' girls?

Posted by: 10emlet | September 26, 2008 2:10 PM | Report abuse

I just read a great, short summary of the McCain campaign's strategy:

Ready, Fire, Aim!

Posted by: nodebris | September 26, 2008 2:02 PM | Report abuse

look at the faces on the broads those two old white guys pulled down. I love that picture.

Posted by: beefeater1 | September 26, 2008 2:02 PM | Report abuse

I wish I knew a good phrase to discribe "ineptitude", "dishonesty" and "dishonor". Any ideas?
______________

Try Banana Republican Sheeple.

Posted by: 10emlet | September 26, 2008 2:02 PM | Report abuse

Two in one - two old men who left their ailing wives to marry younger women. Real nice. I can't help feeling like I need a shower when I look at Republicans. I can't help feelng that this is a game to John McCain. When he loses, he'll just go back to his seven houses, 13 cars, hob nob with his lobbyists and plot his next grandstanding act on how to screw his fellow Americans.

And as far as the economic 'crisis', this is the result of Republican failed policies and battle cries for deregulation for years. This is what people voted for, this is what they got. Insanity is doing the same thing over and over expecting different results. If you're getting the same thing over and over from the people you elect and you keep electing them, then you figure it out.

Country first! American for Obama 08.

Posted by: skolniks | September 26, 2008 2:01 PM | Report abuse

Lucy2008: "I wish I knew a good phrase to discribe "ineptitude", "dishonesty" and "dishonor". Any ideas?" Here's a good phrase for you. "Barack Hussien Obama"

that is so scary. I liked how you asked a question then you called a name a phrase. you are very clever. What do you like better McCains tiny pink piggy eyes or his goat like yellow teeth?

Posted by: beefeater1 | September 26, 2008 1:56 PM | Report abuse

that picture is the best...look at gramps he's oblivious "where's my seat I need to be near the bathroom"

Posted by: beefeater1 | September 26, 2008 1:50 PM | Report abuse

Lucy2008: "I wish I knew a good phrase to discribe "ineptitude", "dishonesty" and "dishonor". Any ideas?" Here's a good phrase for you. "Barack Hussien Obama"

Posted by: Slingo | September 26, 2008 1:49 PM | Report abuse

Posted by: rtfanning | September 26, 2008 1:47 PM | Report abuse

I like that Cindy has a Starbucks cup of coffee...I can't affod those anymore.

Posted by: beefeater1 | September 26, 2008 1:47 PM | Report abuse

No, you see, Mc Cain didn't want to have the debate because he doesn't have the edcation for it. He doesn't know economics. He probably doesn't even know the basics, like, what a supply and demand curve looks like or what 'comparative advantage', means.

...just another reason why he shouldn't be president. How can you fix the economy or get it on the right course by relying on your lobbyist, economic advisor???

Mc Bush is going to make an a$$ out of himself tonight, and I will have my bowl of popcorn (if I can afford it) and laugh at him the whole time. He so doesn't know what it is to be middle class or how to help those who are. The only reason why the GOP is calling these times a crisis, is because their own financial institutions are about to flop, causing them to lose their own shorts. Now that their money is at risk, they are asking for us, the MIDDLE CLASS, to bale the country out, before they lose their money, too.

Posted by: Saints1 | September 26, 2008 1:45 PM | Report abuse

Talk about eating crow...
or flip flopper/political gimmicks.

Posted by: ifjohnnycalls | September 26, 2008 1:41 PM | Report abuse

This is great that the debate will happen on time. Just for this I'll put up with Mr. McCain's lies, dirty tricks, and bumbling.

The press release that the McCain camp put out regarding the Bush meeting was disjointed, incoherent, and mostly fiction. Mr. McCain not only was disingenuous, but was also inept. I wish I knew a good phrase to discribe "ineptitude", "dishonesty" and "dishonor". Any ideas?

I'll give McCain a "D" grade. It's not an "F" because he was able as a 72 yr old man get to Washington DC and attend the meeting without napping.

Posted by: lucy2008 | September 26, 2008 1:41 PM | Report abuse

Kirsten Chadwick, a partner with lobbying firm Fierce Isakowitz & Blalock, is a former congressional liaison for President Bush well known for her vote-counting abilities on trade issues.[1] Among her clients is the Business Roundtable, which hired her to assist with passage of the Central American Free Trade Agreement, and Peru, which hired her to assist with that country's 2006 trade agreement with the United States.[2] Other current lobbying clients including the American Gaming Association, Coca Cola, MCI, Viacom and the European Aeronautic Defense & Space Company (EADS).[3] Her work for EADS came under scrutiny recently after it was revealed that Sen. John McCain (R-AZ) had written letters to the Defense Department asking it to reconsider a contracting requirement seen as disadvantageous to EADS. Shortly thereafter, the Defense Department made the requested change, and EADS eventually won the $35 billion contract to manufacture the next generation of in-flight refueling tanker planes.[4] The Government Accountability Office later upheld Boeing's appeal and the project will be rebid.[5]

For a complete look at Kirsten Chadwick's lobbying activities, please visit the non-partisan Center For Responsive Politics' money-in-politics database.


--------------------------------------------------------------------------------
[1] Patrick O'Connor, "Kirsten Chadwick, One of the Best Vote Counters on K Street," The Hill, September 12, 2006

[2] Kate Ackley, "Trade Work Is Keeping Lobbyists Busy," Roll Call, June 5, 2006.

[3] U.S. Secretary of the Senate Lobbying Disclosure Database, accessed May 13, 2008.

[4] David M. Herszenhorn, "McCain Advisers Lobbied for Europeans to Win Air Force Tanker Deal," The New York Times, March 12, 2008.

[5] Leslie Wayne, "Audit Says Tanker Deal is Flawed," The New York Times, June 19, 2008

Posted by: AlexP1 | September 26, 2008 1:39 PM | Report abuse

At a time of economic instability, Mr. McCain chose to aggravate the situation by grandstanding for his own political gain at a time his campaign was faltering. This is not new for Mr. McCain. He withdrew from his debate with then Gov. Bush in 2000, just 3 days before a highly publicized debate. With the American citizens, and the world at large, nervous and worried about their invested assets (homes, stocks, etc), the time called for steadfastness and the appearance of calm. The debates had to go ahead, if for nothing else, but to give the citizenry a chance to hear the men, one of whom will lead the country, discuss today's problems and offer reassurance and guidance. Mr. McCain, to stress again, aggravated people's fears and has now, once again, decided to carry on with the debate. His theatrics, needless to both the American public and to the Washington members involved in this fragile set of negotiations, were a slap in the face to anyone with any modicum of intelligence and a cheap, transparent way of trying to 'make himself look good'. Country first? No longer for this man who it seems as sold his soul to the highest bidder. I question which is the real McCain - the one who was not running for President or the one who has tasted the ultimate power. I fear the latter has shown us the man who, as a youngster, was nicknamed "McNasty" by those who knew him.

Posted by: 10emlet | September 26, 2008 1:38 PM | Report abuse

Charlie Black of BKSH & Associates, a Bush Pioneer in 2004, is perhaps the most experienced and respected Republican lobbyist in Washington, D.C. He is a close friend of former president George H.W. Bush and has served as an adviser to presidents Reagan and George W. Bush, as well as working as official spokesman for the Republican National Committee. Recent reports about his work for Sen. John McCain (R-AZ) observed that, prior to taking a leave of absence, he did a lot of his lobbying work from the back of McCain's campaign bus. He certainly has had a lot of clients to manage, many of whom have pressing business in Washington.[1] Over the years his client list has included Ahmed Chalabi and the Iraqi National Congress[2], Benazir Bhutto's Pakistan People's Party[3], the China National Off-Shore Oil Corp[4], Zaire dictator Mobutu Sese Seko and Angolan rebel Jonas Savimbi.[5]

Black has also said that he sees great opportunities for lobbyists in Iraq and has considered opening up a branch of his office there. "Is there too much cronyism?" he asked, referring to Iraq. "I just wish I could find the cronies."[6]

For a complete look at Charlie Black's lobbying activities, please visit the non-partisan Center For Responsive Politics' money-in-politics database.


--------------------------------------------------------------------------------
[1] Michael D. Shear and Jeffrey H. Birnbaum, "The Anti-Lobbyist, Advised by Lobbyists," The Washington Post, February 22, 2008.

[2] Kate Zernike, "'Steady Hand' Helps McCain On a New Path," The New York Times, April 13, 2008.

[3] Jim McElhatton and Jerry Seper, "McCain Advisers Tied to Foreign Lobbying," The Washington Times, April 11, 2008.

[4] Tory Newmyer and Kate Ackley, "K Street Files," Roll Call, July 18, 2005.

[5] Wheeler, Tim, "Corporate Lobbyists Drive McCain's Campaign," People's Weekly World, March 1, 2008.

[6] Jane Mayer, "Contract Sport," The New Yorker, February 16, 2004.

Posted by: AlexP1 | September 26, 2008 1:38 PM | Report abuse

The American public has the right to know where each candidate stands on the issues at hand as well as why they each believe they are better fitted to be president.

Had Mccain not joined tonight, I believe it would have looked very bad on his part.

Posted by: cmmdee | September 26, 2008 1:37 PM | Report abuse

McCain BLINKED.

His political stunt failed.

It was a poor political theater performance.

McCain looks very, very weak. A bit ruffled. A bit confused. The fundamentals of John McCain do not look strong.

Posted by: charcoal | September 26, 2008 1:35 PM | Report abuse

Oh, you can bet on it. There is now NO difference between Obama's campaign spin and the "reporting" and OpEd-ing in the Post and the NYT. It has never been this blatant. You can add to that the output of MSNBC and CNN, throw-in Comedy Central's Stewart and Colbert, ABC's The Veiw and SNL, the crazed Huffington Post and Daily KOS, Time (part of CNN/Warner), Newsweek, and a host of others.

It is insane. The only near comparable presidential race would be Nixon in 1972, I think. We saw how that worked out.

The people of this country so far have resisted this onslaught for the most part, though it has started to affect opinions of Palin.

Posted by: jd-winterbottom |
--------------------------------
umm, hello earth to jd...what's starting to affect opinions of Palin is her being released to open her mouth and speak...calling her barbie is an insult to barbie, and saying that she represents small town america is an insult to the people of small towns. Palin makes McBush sound competent. How in the hell did these people get this far in office?

Posted by: Beingsensible | September 26, 2008 1:34 PM | Report abuse

Hopefully McCain won't trip over his cape on the way to the podium.

Posted by: wireknob | September 26, 2008 1:33 PM | Report abuse

George F Will.."McCain has lost his head"

If anybody finds it can you PUNT it to Mississippi please?


(Today) Thank you someone for punting.

Posted by: MILLER123 | September 26, 2008 1:32 PM | Report abuse

Yes, John McCain is the epitome of great decision making. He agreed 95% of the time,to agree with the "DESIDER".And his pick for v.p.,well what could go wrong there? She is as articulate as Bush. She has watched planes fly over Alaska, so we know she has foreign affairs experience. She built a bridge, so we know she wants to be a unit er,not a divider. She cares about Education, we know that because she is picky about what books can go into our public libraries. Yes, he certainly showed good decision making there, I am sure most republicans agree they had no one better,or more suited to step in as president if something should happen to the
"Maverick". Yes he sure did put country first there. yup,yup.

Posted by: jwald1 | September 26, 2008 1:30 PM | Report abuse

I cant wait., this will be a great debate. Both candidates are not that great at debating so it is pretty even matched. Watch Obama and McCains greatest and worse debate moments at watchdebate.com http://www.watchdebate.com

Posted by: pastor123 | September 26, 2008 1:29 PM | Report abuse

McCain may have been a "has been" POW. He is certainly not a hero that he tries so hard to make an impression on all of us. His bumbling stage grabbing antics will backfire, and has revealed that he has no substance at all on economic issues. He is a threat to American financial well being and a nuisance to the public. He may rely on his second wife to coddle him with rich comforts while the rest of America suffers the worst financial collapse since the great depression.

Posted by: juzsmart | September 26, 2008 1:27 PM | Report abuse

jd-winterbottom, I am truly enjoying your pain. Hahhhhahhahhaaa!!!!!

Posted by: barferio | September 26, 2008 1:24 PM | Report abuse

POW...POW POW...POW POW POW...stick em' up, listen here my friends; I suspended my campaign...came to Washington...kicked butt..and now I'm off to Mississippi to destroy the enemy Barack Hussan Obama...once I'm done there, I'm heading off to to New York to unload this lask bullet in Liberman...um I mean Letterman...I've got this...I'm taking my campaign to the White House...POW (aws damn I wasted my last bullet...hey where's my pitt bull, I'm sure she has some to spare), lol

Oh yeah my friend, make sure you vote for Palin/McBush come next, I mean this November.

Signed,

John "I'm a POW" McBush

Posted by: Beingsensible | September 26, 2008 1:23 PM | Report abuse

...To all of the sad RNC clowns who think that we are afraid for the election and peeuuu Palin..

...how about you morons realizing that McCaint is nuts and letting a sophmore governor of the least populated state can run a nation of almost 300 million...

.....you idiots love lies so much you believe them to be true , but then you forget the lies you once said and make up new ones when you forget about the last ones you have just uttered out of your halitosis encrusted mouths....

Heres a good one "Palin had foreign policy experience because Alaska is next to Russia.."

...What a pathetic and stupid thing to utter out of this '72 ford maverick (Old, rusty and bad on gasoline)

I found this stupid statement not only howlingly funny but very frightening...

As it that weren’t enough, John McCaint offers one of the most deceptive lines of his entire campaign, stressing four times that Alaska is America’s “largest state.” Geographically speaking, yes, McCaint is right.

But in real terms — such as population (683,478) and nominal GDP ($44 million) — Alaska ranks near the very bottom, at 47th and 45th, respectively.

These semantic games are laughable. I wonder if the campaign realizes how foolish he sounds.

Another amazing quote:

“So she is experienced. She’s talented. She knows how to lead and she has been vetted by the people of the state of Alaska. But most importantly, people in America want change. They don’t want somebody from inside the beltway.”

If the American people want change — which is the one thing in the entire interview John McCaint actually gets right — why the hell would they elect someone who has been part of the Washington establishment for 25 years?!?!!!?

Does he even hear the words that are coming out of his mouth?

But wait, we’re not done. Check out this one:

GIBSON: But you criticized, for a long time, Sen. Obama based on his lack of experience. […] Jan. 6, I’m quoting you, “Sen. Obama does not have the national security experience and background to be president.”

MCCAINT: I said he didn’t have the judgment.

GIBSON: Sarah Palin does?

MCCAINT: I said that he didn’t have the judgment. He doesn’t have the judgment. He didn’t have the judgment on Iraq. He still refuses to acknowledge that the surge has succeeded. Gov. Palin knows the surge has succeeded. She’s the commander of the Alaskan National Guard. He said that Iran was a tiny problem. He’s never visited south of our border. He has no experience on these issues.

Leave aside for the moment the fact that McCaint is just spitting out nonsensical one-line lies, and focus on the two bits I highlighted.

John McCaint seems to believe that the history of our involvement in Iraq begins in January 2007, when the surge began. Because if we go back to the real start of the war in 2002, he would look like a fool saying Obama doesn’t have the judgment on Iraq considering he predicted exactly what the consequences of an invasion would entail. Secondly, and this is a talking point that needs to be forcefully blown out the water, Sarah Palin has NOTHING/ZERO/ZILCH/NADA to do with “commanding the Alaskan National Guard.” It’s a nice-sounding talking point, but it is a bald-faced LIE.

Either McCaint is dumb,and in the throws of dementia heading on a path the full blown Alzheimers, or he thinks we are.

Either way, McCaint and peeuu Palin are unfit to serve.

...But maybe the 6 am breakfast at Denny's

Posted by: AlexP1 | September 26, 2008 1:23 PM | Report abuse

Posted by: bubba31138
"I feel confident that The Washington Post and The NT Times have already prepared their critiques of the first debate."
_______________________________________

Oh, you can bet on it. There is now NO difference between Obama's campaign spin and the "reporting" and OpEd-ing in the Post and the NYT. It has never been this blatant. You can add to that the output of MSNBC and CNN, throw-in Comedy Central's Stewart and Colbert, ABC's The Veiw and SNL, the crazed Huffington Post and Daily KOS, Time (part of CNN/Warner), Newsweek, and a host of others.

It is insane. The only near comparable presidential race would be Nixon in 1972, I think. We saw how that worked out.

The people of this country so far have resisted this onslaught for the most part, though it has started to affect opinions of Palin.

Posted by: jd-winterbottom | September 26, 2008 1:21 PM | Report abuse

Huckabee sees this debate cancellation for what it is... http://politicalticker.blogs.cnn.com/2008/09/26/mccain-made-huge-mistake-huckabee-says/

Posted by: stopthestunts | September 26, 2008 1:20 PM | Report abuse

YOU ARE GETTING A TASTE OF WHAT'S TO COME IF YOU DON'T MAKE THE RIGHT DECISION. If you want things to change and work, you need a democratic house, democratic senate, a democratic president.

Posted by: MILLER123 | September 26, 2008 1:18 PM | Report abuse

Posted by: rtfanning | September 26, 2008 1:12 PM | Report abuse

What a load of crap! Perhaps the Washington Post should be renamed the Republican Post. You actually think that Obama was posturing and that this whole stunt wasn't McCain posturing? We all know the real reason he wanted to pull this stunt and that was because he wanted to cancel the debate. He knows that he doesn't stand a chance against someone as articulate as Obama, he can't even make a commercial without looking and sounding like he's reading from a teleprompter. I can imagine the director throwing up his hands in frustration after the 1500th take. That's it! I give up! This is as good as it's gonna get! Maverick my butt! I like the post that called him McChicken… baaak bkbkbkbkbk baaaaaak!

Posted by: jyakubow | September 26, 2008 1:11 PM | Report abuse

"I feel confident that The Washington Post and The NT Times have already prepared their critiques of the first debate.

Posted by: bubba31138"
-------------------------------------------

As, no doubt, have Fox/WSJ?

Posted by: EyeStrain | September 26, 2008 1:10 PM | Report abuse

John McCain is just like my dad. I love my Dad very much. He is a Vietnam veteran, He received a purple heart. He has been on several social and political committees. He likes very much if some one praised him. He go on telling his war stories to me and my kids, may be hunderd time. He changes his mind very often during the day, what to eat, where to eat and where to go. Many times he changes our vacation plan the time we have been ready to board the plane.He will be 71-year old coming Novemebr 4th.If some one ask me, whether I prefer my dad be our City Mayor? Not only me but my entire family including my mom will tell in the middle of the NIGHT NOOOOOOOOOOOOOOOOOOOO.Get it?

Posted by: citysoilverizonnet | September 26, 2008 1:10 PM | Report abuse

LOL @ MCAIN! LOL @ MCAIN! LOL @ MCAIN!

He just took the biggest political sh^t on himself!

Posted by: Brooklyn81 | September 26, 2008 1:08 PM | Report abuse

I feel confident that The Washington Post and The NT Times have already prepared their critiques of the first debate.

Posted by: bubba31138 | September 26, 2008 1:08 PM | Report abuse

Posted by: bushbudy
"Hey, when is Grampa gonna reveal his med records? And what is with his left eye? I'll tell you - he had a minor stroke last week, that's what."
________________________________________

Yup, a member of Obama's think tank hard at work, misfiring one of his two neurons. Dumber than a post.

Posted by: jd-winterbottom | September 26, 2008 1:06 PM | Report abuse

I expect the Clintons to start injecting a monkey wrench into this thing an minuet now.

You know, like Bill has been doing all week.

Posted by: Dano111 | September 26, 2008 1:06 PM | Report abuse

I've been a lifelong Republican. What you might call an "Evangelical Right Winger". This campaign makes me see that, although abortion and gay "marriage" must be dilligently fought against, and are damaging to the very basis of our civilization, there is also a danger in having a geriatric showman with no direction, and a VP with neither qualification nor functional brain cells leading this nation. I won't vote for Obama, but I can't bring myself to support McCain either. This man obviously can't make up his mind, and can't stand by his own words. Hopefully, the next Republican candidate will be a bit more presidential than our last two.

Posted by: sarmstrong71 | September 26, 2008 1:04 PM | Report abuse

A Workable, Private Bank Assistance Plan or Why President Bush Should Fire Ben Bernanke and Hank Paulson
September 26, 2008

"Gimmie $ 700 billion in unmarked bills and no one gets hurt"
P&B Gang


"We got to start with some other plan, not the Paulson plan."

Senator Richard Shelby (R-AL)

"Most of the banks in the US are not broke, not in trouble, but they don't trust each other because they don't know which banks are bad. We've got to get the bad ones out."

William Seidman

First we want to start with an apology to our friends at Bloomberg News, the AP and anybody else with whom we have discussed the sufficiency of the FDIC's resources over the past several months. We were not clear enough in our description of the cost of resolving the 110 banks we expect to fail between June 30 of this year and July 1, 2009 and how this cost relates to the cash resources available to the FDIC. In fact, the cost of resolving insolvent banks, the visible amount in the Deposit Insurance Fund, and the actual monies available to the FDIC, are not connected at all.


As luck would have it, the takeover of Washington Mutual by JPMorgan Chase (NYSE:JPM) after the close yesterday, an action that will result in no loss to the FDIC or depositors, provides a road map for a workable assistance plan from Washington. Let's first walk through an inventory of the vast financial resources available to the FDIC as it ramps up to handle what is going to be an increasing number of bank resolutions and sales over the next few months, resolutions that will result in losses. Then we'll comment on the impending death of the Paulson plan and provide our view of a workable alternative financed largely by the banking industry and private investors.


Why the FDIC Will Not Run Out of Money


The first line of defense for the insured depositors of US banks is regulatory takeovers and sales such as the WaMu transaction, where the acquirer assumes all deposits and buys all of the assets after a resolution by the FDIC. The FDIC takes no loss and private investors bear whatever risk remains in the assets of the failed bank. The equity and bond holders of WaMu naturally remained with the failed, publicly listed holding company and will be wiped out in bankruptcy. See our previous comment in The IRA about the difference between a bank and a bank holding company from a public company creditor/shareholder perspective ("What is to be Done?: Interview with Bert Ely").


The next line of defense for depositors in US banks is the income of the banking industry. The FDIC has open-ended authority to tax the US banking industry through deposit premiums. While the visible income of the industry is shrinking rapidly due to the diversion of funds into loan loss provisions, in the first half of 2008, provisions ($81 billion) plus net operating income totaled over $100 billion.


Moreover, behind the income of the banking industry is $1.3 trillion in tangible equity capital, a base of support that alone should be sufficient to absorb any losses the industry may generate. While the FDIC may not be able to tax the industry in real time to absorb all of these losses as and when they occur, the fact is that this capital base is the first line of defense for all depositors of all US banks - insured or otherwise.


As the FDIC noted in an open letter to Bloomberg News posted yesterday: "The fund's current balance is $45 billion - but that figure is not static. The fund will continue to incur the cost of protecting insured depositors as more banks may fail, but we continually bring in more premium income. We will propose raising bank premiums in the coming weeks to ensure that the fund remains strong. And, at the same time, we will propose higher premiums on higher risk activity to create economic incentives for poorly managed banks to change their risk profiles. The fund is 100 percent industry-backed. Our ability to raise premiums essentially means that the capital of the entire banking industry - that's $1.3 trillion - is available for support."


A final note on the FDIC's "visible" reserves, the fiscal relationship with the Treasury, and what it means in terms of the safety and soundness of bank deposits from our statement to the media yesterday:


"The FDIC does not and will not run out of money. Like all federal trust funds, the FDIC's insurance 'trust fund' does not exist. The reserves shown in the fund simply evidence the amount of money contributed by the banking industry into the fund. Like all federal trust funds, the cash raised by FDIC insurance premiums goes into the Treasury's general fund. When the agency needs cash, then the Treasury makes the money available. When the positive balance shown in the FDIC insurance fund is depleted, the FDIC simply runs a negative balance with the Treasury, a loan that the banking industry will repay over time. Indeed, the FDIC is preparing to raise the industry's insurance premiums to generate even more cash to deal with the rising levels of bank failures. Also, in the remote chance that the FDIC ever reached the statutory borrowing limit from Treasury, the Congress will simply raise the limit."


Nuff said. And yes David Evans, we still love you.


A Private Sector Alternative to the Paulson Plan


We salute Senator Dick Shelby and the House Republicans for digging in their heels and saying no to the ridiculous proposal from Treasury Secretary Hank Paulson. The Paulson Plan, which was vigorously supported by Fed Chairman Ben Bernanke, never had a chance to work because it starts from a false premise, namely that by allowing banks to swap illiquid assets for Treasury bonds, banks will sell or finance this collateral to make room for new loans.


Anyone who works in the banking industry knows that most large banks have basically shut down new business origination. The managers of these institutions, especially those with solvency issues, are still trying to avoid writing off losses on illiquid assets because they know that to do so will result in a takeover by the FDIC and career death for all of the managers who made these bad decisions. And yet it is precisely a market-based resolution that is in the best interest of the US taxpayer, the economy and the well-managed banks in the US that did not slither into the subprime, derivative swamp.


We are glad to see that President George Bush finally took our advice and invited the two presidential candidates to the White House to discuss the financial crisis. But unfortunately, Bush still does not understand that Paulson, Bernanke and the other incompetent, conflicted former Goldman Sachs (NYSE:GS) banksters and academic economists who populate the US Treasury and Federal Reserve Board (excluding all bank supervision personnel, naturally) are the biggest obstacles to forging a workable plan to help re-liquefy the banking system.


We hear from several sources who were in the room that the meeting between Bush, John McCain (R-AZ) and Barrack Obama (D-IL) quickly devolved into a pissing contest between the two presidential candidates. Obama initially took control of the meeting, this while Nancy Pelosi (D-CA) and Harry Reid (D-NV) sat in silence. McCain then began to mumble something incomprehensible about "a plan" but we see no evidence that the AZ senator has formulated a serious proposal. So nasty and sharp was the exchange between McCain and Obama that President Bush had to get in between the two men. Who says the first debate is going to be delayed?


Just look at the accomplishments of the team of Paulson and Bernanke ("P&B"), the latter of whom has been the craven lap dog of the former GS CEO from day one. The Bear, Stearns fiasco was bad enough, but failing to find a smooth transition to the troubles at Lehman Brothers makes a complete mockery of Paulson's claims to be trying to restore liquidity to the US financial system. Indeed, with friends like Paulson, Bernanke and Barney "Napoleon" Frank (D-MA), why should the American people be afraid of Al-Qaida?


You see, when P&B let Lehman be forced into a bankruptcy filing last week, more was lost than just thousands of jobs and billions of dollars in losses to shareholders and creditors. These losses are, at the end of the day, attributable to SEC Chairman Christopher Cox and the happy squirrels at the FASB. As our friend Brian Wesbury from FT Advisors in Chicago wrote:


"It seems clear that much of the current crisis has been exacerbated by mark-to-market accounting, which has created massive, and unnecessary, losses for financial firms. These losses, caused because the current price of many illiquid securities are well below the true hold-to-maturity value, could have been avoided. The current crisis is actually smaller than the 1980s and 1990s bank and savings and loan crisis, but is being made dramatically worse by the current accounting rules." Amen brother Wesbury.


When Lehman failed, what was left of the CP market, mostly paper issued by prime borrowers, got flushed down the dumper as well. We hear from the channel that once Lehaman filed, nearly every prime CP issuer in the US hit their standby lines of credit with various commercial banks. So much for recapitalizing the banking system. We expect that when the Q3 data from the FDIC is released, it will show a precipitous drop in unused credit lines at some of the major domestic and foreign banks domiciled in the US. You think P&B understand this? Dream on.


But there is more. We also hear from some very well-placed sources on Capitol Hill that when the Fed's Board of Governors was presented with an $80 billion price tag for supporting Lehman the day before the bankruptcy filing, there were not five votes at the big Fed table to support the loan. When the Board does not take action, there is no record of the meeting, no transcript, no tape. Several member of the House familiar with the details reportedly will be calling for a forensic investigation of the Fed's internal records, phone and email regarding this non-decision by the central bank. But they key fact is that Ben Bernake could not make the other governors take necessary action to forestall the uncontrolled collapse of Lehman. Recalling the "leadership" role played by every Fed chairan since Arthur Burns, what use is a Fed chairman who can't get five votes when absolutely required?


As a result, it is further suggested, when JPMorgan Chase (NYSE:JPM) presented an ultimatum to Lehman management that weekend, the only choice was bankruptcy. We hear that JPM told Lehman that if they did not file, then JPM was going to put them out of business by closing down their clearing account. To get a sense for the conversation which reportedly occurred between JPM and the doomed broker dealer, recall the scene from the film The Godfather when Robert Duval gives an imprisoned capo under federal protection the option of picking the manner of his own death. Unfortunately and unlike the movie, as JPM eliminated a major investment banking competitor by compelling the suicide of a long-time clearing customer, no surety was provided for the members of the Lehman family.


The tragedy of the failure of Lehman is that by failing to obtain Fed support for an expenditure of $80 billion needed to manage an orderly sale or bank holding company conversion of the still-solvent broker dealer, P&B have created the very crisis of confidence that they now seek to solve via a $700 billion bailout of truly insolvent financial institutions. If this very public act of grotesque incompetence is not sufficient reason for President Bush immediately to demand the resignation of both Hank Paulson and Ben Bernanke, then what actions would be sufficient? How much more damage must P&B commit before President Bush and the republicans in Congress demand their heads?


Fortunately, the takeover of Washington mutual by JPM last night provides the Congress and the other inhabitants of Washington a road map for a truly workable assistance package based on private capital rather than mountains of public debt and moral hazard. As Bill Seidman suggested on CNBC last night, the FDIC, backed by the Fed, OCC and Treasury, must aggressively begin to triage and close insolvent banks, large or small. Once these institutions pass through the cleansing process of an FDIC resolution and receivership, a process that cleans the assets of any legal or other liability, crowds of investors and solvent commercial banks will be waiting on the other side to finance the re-liquefaction of these assets.


We believe that the Congress should provide an initial $500 billion in authority for the new Treasury secretary to direct into capital assistance for solvent financial institutions. Institutions taking such assistance must agree to issue warrants to the Treasury, either against common equity or the upside potential of illiquid but still performing assets on the books of these banks. If these assets are sold, the warrants must convey with the assets so that the Treasury and the taxpayer benefit, at least to some degree from the upside gain as the markets recover.


Likewise, failed assets that are sold out of a resolution by the FDIC may also carry warrants for the Treasury, depending on whether the acquirers are willing to pay close to fair market value or fire sale prices for the assets and assume all insured deposits. In the case of JPM's purchase of WaMu, all depositors are fully protected and there will be no cost to the FDIC's Deposit Insurance Fund, thus no warrant cover is required. This transaction is the optimal model for cleaning up the other bad banks, to paraphrase Bill Seidman, but not all resolutions will work so smoothly and result in no loss to the FDIC.


The key principle we believe must be part of any assistance package approved by the Congress is to try, wherever possible, to keep the trouble assets of the banks in private hands. If the government must take ownership of bank assets, then the FDIC is the proper vehicle to play that role. Apart from the FDIC, which is an independent, self-funded agency, the US government has absolutely no competence when it comes to owning or managing financial assets. The GSE fiasco makes that clear. But by providing the authority for the Treasury to selectively support capital infusions into solvent banks, and the aggressive closure and sale of insolvent banks, we can quickly clean up this latest nightmare on Wall Street and get the US economy back on track.


Questions? Comments? info@institutionalriskanalytics.com

Posted by: rtfanning | September 26, 2008 1:04 PM | Report abuse

"Say Anything McCain" is at it again. So who and what will he be tomorrow? A Conservative? A Democrat? A Populist? A Maverick? Or maybe just aptly, Bozo The Clown?

McCain is too frantic, jittery and erratic. Too reckless and political. He make me feel very uneasy.

Posted by: Dano111 | September 26, 2008 1:04 PM | Report abuse

The fat lady is singing... it is over, ladies and gents.

Bubbles Palin's incoherent interview coupled w/ these incomprehensible comments and actions by McClueless spells doom for the GOP ticket. The last nails are going in the coffin. And when McCain't stutters and stumbles thru this debate, that sound you will hear is the death rattle of the GOP party.

Posted by: Godhimself1 | September 26, 2008 1:03 PM | Report abuse

The net result is that Obama looks calm and Presidential, while McCain looks like Sarah Palin -- flustered.

Posted by: gpbrown | September 26, 2008 1:03 PM | Report abuse

It's easy to see what's going on here. The most strategic bar-lowering I've ever seen. Sure we THINK McCain is blowing it-the same with Ms. Palin's Ms. South Carolina reprise, (the bit about Putin raising his head - where did he go? - is simply the best bad entertainment since Plan 9 from outer space), but in reality, he is playing us like fine violins. We will now see that he isn't a lobbyist loving hundred millionaire fortunate son, but a crafty no-nonsense middle aged genius leader that we can all rally around! Well done!

Posted by: whereareweandwhatarewedoinginthishandbasket | September 26, 2008 1:03 PM | Report abuse

As a non-American I am shocked by the viciousness and hatred I see everywhere these days in America. On television, on the internet... What has happened to America?

It's sad isn't it? We have fallen I'm afraid. You see we are locked in a idelogical civil war. Politics is a football game here. Red vs. Blue. We really aren't cultured, honest, well mannered. We just rich.

Posted by: Dano111 | September 26, 2008 1:02 PM | Report abuse

Note to lingusit: The country has already been ruined by Bush, his phony wars and his rich friends. Shame on the entire political class. they should be tarred and feathered for failing to see this coming and doing something about it timely. instead, they all held their breath.

Posted by: iquitos | September 26, 2008 1:02 PM | Report abuse

I'm sitting here at a desk on Wall St. with a bunch of Republicans who are absolutely FURIOUS that McCain is delaying action with his antics. WaMu collapses and he plays politics, contributing nothing. He deserves to lose the election over this.

Posted by: phranquethegreat | September 26, 2008 1:02 PM | Report abuse

So what John? Mission Accomplished? Bring on the debate?

Every day he seems a bit more unstable.

Posted by: 1FLWB2 | September 26, 2008 1:01 PM | Report abuse

The bailout plan originated from Bush and Paulsen and the other republicans in the executive branch.

This is economic socialism, and the republicans are the ones who are guilty of it.

The old republican stand-by of calling the democrats socialist is now lost to them. 750 billion dollars is far more than any socialist democrat ever dreamed of spending in one chunk like this.

You republicans who are still accusing the democrats of being socialist have moved on from being merely ridiculous and have arrived at insanity.

Since you aren't paying attention to the facts, why should anybody pay attention to you?

Posted by: barferio | September 26, 2008 1:01 PM | Report abuse

jd-winterbottom: McCain is doing a bang-up job of defaming HIMSELF, ALL by himself, for himself and BESIDE himself, in spite of himself!

Posted by: mavisdarling | September 26, 2008 1:00 PM | Report abuse

I expected a little more intelligent banter, perhaps some insight on issues? Instead I get thought-provoking insights like, "McCain is horse pucky" and "I don't know what happened" (typical liberal response.)

*sigh*

Posted by: liberalsssuck | September 26, 2008 1:00 PM | Report abuse

Posted by: barferio

"jd-winterbottom the Obamaphiles don't need to defame McCain, he did that himself.

That you can't see this speaks of the useless brain you use, it seems you are using the same nerve cluster to control your rectum as you do your mouth."

_________________________________________

You think? Then let me give you a big kiss - SMOOOOOOCHH!


Posted by: jd-winterbottom | September 26, 2008 1:00 PM | Report abuse

sorry mCCain you lost at "Politics first"

Posted by: Dano111 | September 26, 2008 12:59 PM | Report abuse

As a non-American I am shocked by the viciousness and hatred I see everywhere these days in America. On television, on the internet... What has happened to America?

I think its perfectly acceptable to disagree with McCain's or Obama's politics, can't you see how you've crossed the line of decency and respect here?

The entire world is watching you - are you happy with the impression that we are getting of you?

I wouldn't be.

Posted by: Shanty1 | September 26, 2008 12:58 PM | Report abuse

So can a McCain supporter explain why if this crisis was so important, how did McCain find time for cable interviews, and pander at the Clinton Initative? That funny isn't it?

Also, I thought McCain was a man of principal. He said he's not going to the debate if there want a clear settlement on the plan? That funny isn't it?

Posted by: Dano111 | September 26, 2008 12:58 PM | Report abuse

The verdict is in... John McCain and his entire campaign staff really do think Americans are as gullible and downright stupid as Rove/Bush/Schmidt believe.

What an embarrassing McCain campaign stunt we've witnessed the last couple days. Really, just embarrassing.

Add to this another stellar performance by Palin on CBS, and an historic ass-whipping is taking shape.

Posted by: HonestHonestAbe | September 26, 2008 12:58 PM | Report abuse

My spelling is not so good but let me try.

Flip-Flop, Flip-Flop, Flip-Flop.

Will the PALIN/mccain season never end? Just like the TV show Commander in Chief this campaign is based on, it is time to pull the plug.

Posted by: haymarketbill |
----------------------------------------
Don't insult Gina's performance on Commander in Chief, she was so much better at playing President than John McSame is--your comment is a huge insult Gina and to those of us who watched that show whether we liked it or not.

Posted by: Beingsensible | September 26, 2008 12:58 PM | Report abuse

I hope readers are aware that most of the functional illiterates who post the Obama daily talking points here are simply cutting and pasting the campaign's emails?

Look at the consistency of the themes, and the near identical phraseology used over and over again, ad nauseam.

Monkey see, monkey do.

Posted by: jd-winterbottom | September 26, 2008 12:57 PM | Report abuse

"Obama likes the Treasury plan because it close to socialism, and Obama is a Socialist. He want to hurt corporate America, hurt entrepreneurs, hurt small business owners, and make himself the King of America."

No, that's what this financial crisis did. Free Market anarchy is horrible. Sensible balanced regulations are sound. Just because Obama is not a total economic anarchist does not make him somehow a socialist.

Posted by: tweldy | September 26, 2008 12:57 PM | Report abuse

Let's get this straight:
On Monday morning McCain states the economy is sound. A couple of hours later the bottom falls out. Seems more like an idiot than a maverick to me (besides picking Palin as his running mate).

Also: More government, more regulation, more taxes, and a bailout for corporate executive croonies. That's not what the 2008 GOP Platform says they are committed to!

Talk about values! While helping out overpaid executives let's cut more programs for the helpless and underpriviledged.

Seems like the republicans want their cake and eat it too. I hope they choke on it.

Posted by: JamesThomas1 | September 26, 2008 12:57 PM | Report abuse

"Politics First" -Palin/McCain 08

Posted by: Dano111 | September 26, 2008 12:56 PM | Report abuse

If this is not a stunt then why is McCain attending the debate this evening when a deal has not been completed yet. Why is he not staying in Washington and continuing to help broker the deal. Now Huckabee is saying it was a huge mistake to to have suggested not attending the debate. We also know how George Will feels about McCain. There are many other Republicans who have serious doubts about McCain. The only person that seems to think he is amazing is Joe Lieberman.

Posted by: stopthestunts | September 26, 2008 12:56 PM | Report abuse

jd-winterbottom the Obamaphiles don't need to defame McCain, he did that himself.

That you can't see this speaks of the useless brain you use, it seems you are using the same nerve cluster to control your rectum as you do your mouth.

Posted by: barferio | September 26, 2008 12:56 PM | Report abuse

rtfanning: Here's my comment. Quit bloviating. Nobody is going to read a post that long.

Brevity, dear. Brevity is our friend.

Posted by: mavisdarling | September 26, 2008 12:55 PM | Report abuse

Follow the debate tonight with blow by blow slandering at http://www.slander08.com!

Posted by: virtualbeggar | September 26, 2008 12:55 PM | Report abuse


RAF3:
1. The Democrats weren't in charge of congress in 2004 & 2005
2. The bail out is BUSH's initiative, not the Democrats'.

... Your feckless rant embarrasses even McCain supporters.

Retain information and use it for good, instead.

Posted by: EyeStrain | September 26, 2008 12:55 PM | Report abuse

John McCain is a sell-out and exposed he is just a typical Republican politician by picking Palin. He picked her to appease his base, poach Hillary votes and stoke a culture divide. Even Britain and Europe know Obama is the better candidate.

The only people who don’t get it are the brainwashed right-wing puppets who think that just because someone has a speech draw and likes to fish that somehow makes politicians just like them or the best candidate to run the government. I like Tina Fey too, that doesn’t mean she should run the country. Are we really this foolish? Palin wasn’t the best or most qualified, it’s because mcCain knew she would be a draw to small town America whom they are duping (Sara Palin ain’t like you, folks).

How is this being a "maverick"? How is it ‘Country First”? How is this “I rather win a war than loose an election”? I’ll say it again, John McCain is a sell-out. Obama said it pretty accurately too - Lipstick on a pig, is still a pig.

The most important metric for picking a VP is they are ready to step in from day one. His judgment is reckless and he gambled at our expense. The mere fact Palin is being educated on foreign policy and is avoiding the press indicates she wasn’t prepared on day one. She is running for the second highest office, but can’t answer questions from the press or public? This doesn’t alarm anyone?

I lost all my respect for John McCain. He's not the hero today he was 35 years ago. McCain is nothing without Palin.

What does it say about a campaign that has to "mimic" what and whom Obama is, not to mention hijack Obamas core message of Change from day one just to poach votes? Is that all they view Obama as, a "product" a "formula", a “personality”? It makes McCain look weak and more importantly, the American people stupid if they fall for it.

Now all these puppets are willing to just get behind her without even knowing anything about her and try to convince the American public she is prepared to be VP or President? Not even uncertain objectiveness, caution, pause or question just because she has an "R" in front of her name? How can anyone make a honest, clear determination reasonably in less than 60 days.

Bravo America! We look like complete idiots once again while the world watches. I am truly embarrassed of my country. I guess all isn’t lost, at least many will have Palin’s eye glass frames while our country crumbles economically. We are such tools.

If Palin/McCain win I'm leaving this country. I’m not paying for a war that should have never happened or failed Bush policies any more than I already have.

British Prime Minister Backs Obama
http://waugh.standard.co.uk/2008/09/brown-backs-oba.htm

World wants Obama
http://www.abc.net.au/news/stories/2008/09/09/2360240.htm?section=world

Posted by: Dano111 | September 26, 2008 12:55 PM | Report abuse

"We see here another concerted effort to defame McCain"

Ha, what a stupid line.

We do not need to defame McNuggets. He's doing it to himself. It's suppuko on TV, with a huge knife, and he is shoving it into his own stomach, and claiming that he feels great, great, great.

Hey, when is Grampa gonna reveal his med records? And what is with his left eye? I'll tell you - he had a minor stroke last week, that's what.

Posted by: bushbudy | September 26, 2008 12:55 PM | Report abuse

To the author of this article, Mr. Shear:

Where on earth have you been that could possibly give you the idea that McCain is acting in a bipartisan manner. This guy has turned our country's political system into the equivalent of a reality tv show. His political stunts seem to never end. This has got to be one of the most unstable, unpredictable president wannabes in US history.

To say that Obama is posturing after all of the crap McCain has been pulling in the last 48 hours?! You must be completely derranged...

Posted by: scw2 | September 26, 2008 12:54 PM | Report abuse

jd-winterbottom

IS that like a polite way to say "cold a-hole"?

Posted by: VMR1 | September 26, 2008 12:53 PM | Report abuse

700 Billion dollars. 700 Billion Dollars.

I can swallow the fact people voted George Bush the first time though was a bad partisan decision. To have him relected was a blind, ignorent and inexcusable decision that will have lasting negative effects for us over the next 20 years or better. After all this, to vote for someone who has anything remotely connected to that ideology or subscribes to Bushes policy by voting 90% with him is nothing short of deliberate treason.

Thanks for the going away present Bush F-U too.

Posted by: Dano111 | September 26, 2008 12:53 PM | Report abuse

I'm reading all these "McCain Saves the Day" comments with amused disbelief. Your statements are laughable. His bizarre behavior this week just lost him the election.

Posted by: phranquethegreat | September 26, 2008 12:52 PM | Report abuse

Yellowribbon:

Obama is now 5 pts ahead in VA.

Note that this is VA.

he is 12 pts ahead in MI

He is gonna win FL and OH as well.

That's because Grampa McDepends is gonna pee all over himself on national TeeVee tonite.

Then Sarah the Stupid will take a poop on stage in her debate.

I love it.

Posted by: bushbudy | September 26, 2008 12:52 PM | Report abuse

barferio: It was McCain's little stunt that brought Obama to Washington yesterday. McCain implored Bush to call a meeting, which he did. Obama could hardly say NO, so he went. He didn't WANT to go, and now we see he was right. The move by McCain was political grandstanding and nothing more.

It was a worthless meeting, and it cost precious time in this financial crisis. The ONLY reason McCain did this was to make himself look good and in the process he made himself look even worse.

Posted by: mavisdarling | September 26, 2008 12:52 PM | Report abuse

Crticize McCain for not debating.

Criticize McCain for debating.

Can the Obamamites make up their minds? Or just flip-flopping like their idol?

Posted by: Verrazzano | September 26, 2008 12:52 PM | Report abuse

We see here another concerted effort to defame McCain, by the Obama-loving media and the would-be gang bangers that pass for his supporters. It is not surprising such an insubstantial poser attracts so many inadequates, I guess, but it is unacceptable that this snake oil salesman should be carried on the shoulders of the press corps.

This is troublingly reminiscent of the Russian elections when Putin was still president, and in many ways, Obama shares the same characteristics, as an imperious BS artist surrounded by gangs of thugs.

Posted by: jd-winterbottom | September 26, 2008 12:52 PM | Report abuse

"Say Anything McCain" is at it again. So who and what will he be tomorrow? A Conservative? A Democrat? A Populist? A Maverick? Or maybe just aptly, Bozo The Clown?

McCain is too frantic, jittery and erratic. Too reckless, political, too much ziz-zag. He make me feel very uneasy.

Posted by: Dano111 | September 26, 2008 12:51 PM | Report abuse

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 12:51 PM | Report abuse

the actual president was watching vollyball at the Olympics while the Georgian conflict started....

Posted by: gq_online | September 26, 2008 12:50 PM | Report abuse

A Workable, Private Bank Assistance Plan or Why President Bush Should Fire Ben Bernanke and Hank Paulson
September 26, 2008

"Gimmie $ 700 billion in unmarked bills and no one gets hurt"
P&B Gang


"We got to start with some other plan, not the Paulson plan."

Senator Richard Shelby (R-AL)

"Most of the banks in the US are not broke, not in trouble, but they don't trust each other because they don't know which banks are bad. We've got to get the bad ones out."

William Seidman

First we want to start with an apology to our friends at Bloomberg News, the AP and anybody else with whom we have discussed the sufficiency of the FDIC's resources over the past several months. We were not clear enough in our description of the cost of resolving the 110 banks we expect to fail between June 30 of this year and July 1, 2009 and how this cost relates to the cash resources available to the FDIC. In fact, the cost of resolving insolvent banks, the visible amount in the Deposit Insurance Fund, and the actual monies available to the FDIC, are not connected at all.


As luck would have it, the takeover of Washington Mutual by JPMorgan Chase (NYSE:JPM) after the close yesterday, an action that will result in no loss to the FDIC or depositors, provides a road map for a workable assistance plan from Washington. Let's first walk through an inventory of the vast financial resources available to the FDIC as it ramps up to handle what is going to be an increasing number of bank resolutions and sales over the next few months, resolutions that will result in losses. Then we'll comment on the impending death of the Paulson plan and provide our view of a workable alternative financed largely by the banking industry and private investors.


Why the FDIC Will Not Run Out of Money


The first line of defense for the insured depositors of US banks is regulatory takeovers and sales such as the WaMu transaction, where the acquirer assumes all deposits and buys all of the assets after a resolution by the FDIC. The FDIC takes no loss and private investors bear whatever risk remains in the assets of the failed bank. The equity and bond holders of WaMu naturally remained with the failed, publicly listed holding company and will be wiped out in bankruptcy. See our previous comment in The IRA about the difference between a bank and a bank holding company from a public company creditor/shareholder perspective ("What is to be Done?: Interview with Bert Ely").


The next line of defense for depositors in US banks is the income of the banking industry. The FDIC has open-ended authority to tax the US banking industry through deposit premiums. While the visible income of the industry is shrinking rapidly due to the diversion of funds into loan loss provisions, in the first half of 2008, provisions ($81 billion) plus net operating income totaled over $100 billion.


Moreover, behind the income of the banking industry is $1.3 trillion in tangible equity capital, a base of support that alone should be sufficient to absorb any losses the industry may generate. While the FDIC may not be able to tax the industry in real time to absorb all of these losses as and when they occur, the fact is that this capital base is the first line of defense for all depositors of all US banks - insured or otherwise.


As the FDIC noted in an open letter to Bloomberg News posted yesterday: "The fund's current balance is $45 billion - but that figure is not static. The fund will continue to incur the cost of protecting insured depositors as more banks may fail, but we continually bring in more premium income. We will propose raising bank premiums in the coming weeks to ensure that the fund remains strong. And, at the same time, we will propose higher premiums on higher risk activity to create economic incentives for poorly managed banks to change their risk profiles. The fund is 100 percent industry-backed. Our ability to raise premiums essentially means that the capital of the entire banking industry - that's $1.3 trillion - is available for support."


A final note on the FDIC's "visible" reserves, the fiscal relationship with the Treasury, and what it means in terms of the safety and soundness of bank deposits from our statement to the media yesterday:


"The FDIC does not and will not run out of money. Like all federal trust funds, the FDIC's insurance 'trust fund' does not exist. The reserves shown in the fund simply evidence the amount of money contributed by the banking industry into the fund. Like all federal trust funds, the cash raised by FDIC insurance premiums goes into the Treasury's general fund. When the agency needs cash, then the Treasury makes the money available. When the positive balance shown in the FDIC insurance fund is depleted, the FDIC simply runs a negative balance with the Treasury, a loan that the banking industry will repay over time. Indeed, the FDIC is preparing to raise the industry's insurance premiums to generate even more cash to deal with the rising levels of bank failures. Also, in the remote chance that the FDIC ever reached the statutory borrowing limit from Treasury, the Congress will simply raise the limit."


Nuff said. And yes David Evans, we still love you.


A Private Sector Alternative to the Paulson Plan


We salute Senator Dick Shelby and the House Republicans for digging in their heels and saying no to the ridiculous proposal from Treasury Secretary Hank Paulson. The Paulson Plan, which was vigorously supported by Fed Chairman Ben Bernanke, never had a chance to work because it starts from a false premise, namely that by allowing banks to swap illiquid assets for Treasury bonds, banks will sell or finance this collateral to make room for new loans.


Anyone who works in the banking industry knows that most large banks have basically shut down new business origination. The managers of these institutions, especially those with solvency issues, are still trying to avoid writing off losses on illiquid assets because they know that to do so will result in a takeover by the FDIC and career death for all of the managers who made these bad decisions. And yet it is precisely a market-based resolution that is in the best interest of the US taxpayer, the economy and the well-managed banks in the US that did not slither into the subprime, derivative swamp.


We are glad to see that President George Bush finally took our advice and invited the two presidential candidates to the White House to discuss the financial crisis. But unfortunately, Bush still does not understand that Paulson, Bernanke and the other incompetent, conflicted former Goldman Sachs (NYSE:GS) banksters and academic economists who populate the US Treasury and Federal Reserve Board (excluding all bank supervision personnel, naturally) are the biggest obstacles to forging a workable plan to help re-liquefy the banking system.


We hear from several sources who were in the room that the meeting between Bush, John McCain (R-AZ) and Barrack Obama (D-IL) quickly devolved into a pissing contest between the two presidential candidates. Obama initially took control of the meeting, this while Nancy Pelosi (D-CA) and Harry Reid (D-NV) sat in silence. McCain then began to mumble something incomprehensible about "a plan" but we see no evidence that the AZ senator has formulated a serious proposal. So nasty and sharp was the exchange between McCain and Obama that President Bush had to get in between the two men. Who says the first debate is going to be delayed?


Just look at the accomplishments of the team of Paulson and Bernanke ("P&B"), the latter of whom has been the craven lap dog of the former GS CEO from day one. The Bear, Stearns fiasco was bad enough, but failing to find a smooth transition to the troubles at Lehman Brothers makes a complete mockery of Paulson's claims to be trying to restore liquidity to the US financial system. Indeed, with friends like Paulson, Bernanke and Barney "Napoleon" Frank (D-MA), why should the American people be afraid of Al-Qaida?


You see, when P&B let Lehman be forced into a bankruptcy filing last week, more was lost than just thousands of jobs and billions of dollars in losses to shareholders and creditors. These losses are, at the end of the day, attributable to SEC Chairman Christopher Cox and the happy squirrels at the FASB. As our friend Brian Wesbury from FT Advisors in Chicago wrote:


"It seems clear that much of the current crisis has been exacerbated by mark-to-market accounting, which has created massive, and unnecessary, losses for financial firms. These losses, caused because the current price of many illiquid securities are well below the true hold-to-maturity value, could have been avoided. The current crisis is actually smaller than the 1980s and 1990s bank and savings and loan crisis, but is being made dramatically worse by the current accounting rules." Amen brother Wesbury.


When Lehman failed, what was left of the CP market, mostly paper issued by prime borrowers, got flushed down the dumper as well. We hear from the channel that once Lehaman filed, nearly every prime CP issuer in the US hit their standby lines of credit with various commercial banks. So much for recapitalizing the banking system. We expect that when the Q3 data from the FDIC is released, it will show a precipitous drop in unused credit lines at some of the major domestic and foreign banks domiciled in the US. You think P&B understand this? Dream on.


But there is more. We also hear from some very well-placed sources on Capitol Hill that when the Fed's Board of Governors was presented with an $80 billion price tag for supporting Lehman the day before the bankruptcy filing, there were not five votes at the big Fed table to support the loan. When the Board does not take action, there is no record of the meeting, no transcript, no tape. Several member of the House familiar with the details reportedly will be calling for a forensic investigation of the Fed's internal records, phone and email regarding this non-decision by the central bank. But they key fact is that Ben Bernake could not make the other governors take necessary action to forestall the uncontrolled collapse of Lehman. Recalling the "leadership" role played by every Fed chairan since Arthur Burns, what use is a Fed chairman who can't get five votes when absolutely required?


As a result, it is further suggested, when JPMorgan Chase (NYSE:JPM) presented an ultimatum to Lehman management that weekend, the only choice was bankruptcy. We hear that JPM told Lehman that if they did not file, then JPM was going to put them out of business by closing down their clearing account. To get a sense for the conversation which reportedly occurred between JPM and the doomed broker dealer, recall the scene from the film The Godfather when Robert Duval gives an imprisoned capo under federal protection the option of picking the manner of his own death. Unfortunately and unlike the movie, as JPM eliminated a major investment banking competitor by compelling the suicide of a long-time clearing customer, no surety was provided for the members of the Lehman family.


The tragedy of the failure of Lehman is that by failing to obtain Fed support for an expenditure of $80 billion needed to manage an orderly sale or bank holding company conversion of the still-solvent broker dealer, P&B have created the very crisis of confidence that they now seek to solve via a $700 billion bailout of truly insolvent financial institutions. If this very public act of grotesque incompetence is not sufficient reason for President Bush immediately to demand the resignation of both Hank Paulson and Ben Bernanke, then what actions would be sufficient? How much more damage must P&B commit before President Bush and the republicans in Congress demand their heads?


Fortunately, the takeover of Washington mutual by JPM last night provides the Congress and the other inhabitants of Washington a road map for a truly workable assistance package based on private capital rather than mountains of public debt and moral hazard. As Bill Seidman suggested on CNBC last night, the FDIC, backed by the Fed, OCC and Treasury, must aggressively begin to triage and close insolvent banks, large or small. Once these institutions pass through the cleansing process of an FDIC resolution and receivership, a process that cleans the assets of any legal or other liability, crowds of investors and solvent commercial banks will be waiting on the other side to finance the re-liquefaction of these assets.


We believe that the Congress should provide an initial $500 billion in authority for the new Treasury secretary to direct into capital assistance for solvent financial institutions. Institutions taking such assistance must agree to issue warrants to the Treasury, either against common equity or the upside potential of illiquid but still performing assets on the books of these banks. If these assets are sold, the warrants must convey with the assets so that the Treasury and the taxpayer benefit, at least to some degree from the upside gain as the markets recover.


Likewise, failed assets that are sold out of a resolution by the FDIC may also carry warrants for the Treasury, depending on whether the acquirers are willing to pay close to fair market value or fire sale prices for the assets and assume all insured deposits. In the case of JPM's purchase of WaMu, all depositors are fully protected and there will be no cost to the FDIC's Deposit Insurance Fund, thus no warrant cover is required. This transaction is the optimal model for cleaning up the other bad banks, to paraphrase Bill Seidman, but not all resolutions will work so smoothly and result in no loss to the FDIC.


The key principle we believe must be part of any assistance package approved by the Congress is to try, wherever possible, to keep the trouble assets of the banks in private hands. If the government must take ownership of bank assets, then the FDIC is the proper vehicle to play that role. Apart from the FDIC, which is an independent, self-funded agency, the US government has absolutely no competence when it comes to owning or managing financial assets. The GSE fiasco makes that clear. But by providing the authority for the Treasury to selectively support capital infusions into solvent banks, and the aggressive closure and sale of insolvent banks, we can quickly clean up this latest nightmare on Wall Street and get the US economy back on track.

Questions? Comments? info@institutionalriskanalytics.com

Posted by: rtfanning | September 26, 2008 12:50 PM | Report abuse

So can a McCain supporter explain why if this crisis was so dire, how did McCain find time for cable interviews, and pander at the Clinton Initative? That funny isn't it?

Also, I thought McCain was a man of principal. He said he's not going to the debate if there want a clear settlement on the plan? That funny isn't it?

Posted by: Dano111 | September 26, 2008 12:50 PM | Report abuse

Headline is misleading. John McCain had committed to Mississippi quite some time ago. He had also committed to the American people that they would have an opportunity to listen to the candidates debate prior to being asked to vote for a person who will affect their lives for many years to come. He is not now saying yes to debate, he is saying, gee, sorry my little antics did not work, guess I will go ahead and do what I had originally promised America I would do.

His input in Washington was simply to gum up the works with his grand stand antics. Thank god democrats and republicans alike saw through the nonsense. He is like a chicken little running around with his head cut off. What a sad, sad, little old man he has turned into.

Posted by: MainLineGirl | September 26, 2008 12:49 PM | Report abuse

"And while there were attempts to do that, much of yesterday was spent fighting over who would get the credit for a deal and who would get the blame for failure"
---------------------------------------
As much as I hate to admit it--I am a political junky, and what I saw yesterday was quite the opposite of McCain's statement here today.

What I saw with my own eyes was both parties announcing prior to McCain's arrival that they were close to sealing a deal...shortly after that, I saw McCain charging through the halls of Congress first speaking with the members of his party who had just announced that a deal was close and then running off--or should I say wimpering off to the underground shuttle to meet with the Repuke House members and shortly there after comes an announcement that Pelosi was on her own to get votes from the Dems in the House to pass the bill. That statement came after McCain met with them.

Doesn't sound like McSame is interested in party first here to me at all; looks like he's once again lying and trying to make this issue advantage McSame once again political trickery. Guess he forgot as he often does that it was his party leader McBush who offered up the bill from the start. McSame, McBush, McRepukes all such idiots. And looks like McPalin is toast--"well you know when Putin raises his head and enters American airspace...you know, where is he? Yeah Alaska so when we send them out--that's foreign policy, right? (I believe she was asking a question not making a statement, lol)...McIdiot better find a way to get back into Letterman's good grace or he's toast too, lol. Forget historical, this has been the most comical general election ever, lol...I'll bet the folks at SNL belive they've died and gone to heaven, lol...

Posted by: Beingsensible | September 26, 2008 12:49 PM | Report abuse

"We would not be in this mess had the Democrats in Congress not taking the millions in lobbying money from the mortgage industry back in 2004 and 2005 in exchange for allowing Fannie and Freddie to by more sub-prime mortgages."

You mean when the republicans controlled congress? Seriously, that's a feeble line there. Bush had the OCC override all state protections in a unilateral executive decision. This is grade A 100% Republican owned. There is no way to spin out of it. That brown stuff on your hands... yeah. You get the picture.

Posted by: tweldy | September 26, 2008 12:49 PM | Report abuse

Obama finished first in his class at Harvard. Mr. Magoo who's 72 finished seventh in his class. Seventh from the last in class. Magoo's Daddy was an admiral. His son isn't bright enough to be president of anything. After the Great Depression candidates drove about with brooms sweeping the incumbents from their perch. The difference is stark. Mr. Magoo believes we have a right to kill innocent people to control their oil and Obama disagrees. Simple. You either think it's a good idea to kill your children for oil contracts in Dallas or you don't!

Posted by: rhyer | September 26, 2008 12:49 PM | Report abuse

"I hope the moderator will ask Senator It's Above My Pay Grade what the Hell he thought he was doing strutting around in Berlin in front of the Brandenburg Gate."

Well, fu.c.king moron, he wasn't in front of the Brandenburg Gate, you dri.velicious bu.tt.head. He was in front of the Victory Column.

It is amazing to me to read sh.it like this. You conservaboobs are lazy and stupid, and cannot bother to be accurate about anything.

Posted by: bushbudy | September 26, 2008 12:48 PM | Report abuse


Man oh man!

If McSenile not a maverick clown I wonder who is.

Within 24 hours he blew up Paulson's plan and efforts, brought the Reps to near civil war, showed what he meant by bipartisanship, and in the end rediculed himself by finally dragging his feet, so relunctuntly, to Oxford Miss. instead of staying, as promised, in DC to solve the nation, the economy, and probably the galaxy.

I hope 0bama is going to play cat and mouse with this old joker tonight, and expose him for what he is. Another Rep fraud.

Posted by: bekabo | September 26, 2008 12:48 PM | Report abuse

LOL @ McCain's failed attempt to look heroic in a crisis he helped put into place during his last 26 years in the Senate. McCain is a champion DEREGULATOR!

I guess this time, 1 extra cook in the kitchen did nothing for the pot!

Maverick my ass! He said he wouldn't debate until a deal was DONE! But now, as it's quite apparent, that the Univ.of Miss., Obama and the American public and media will go on with our without him, we all now can confirm that he's all bark and no bite and that his decision to go to Washington and have absolutely ZERO say in the bailout plan was polically motivated to try and distract Americans from his very hefty DEREGULATION practices during the last 26 years of his senate career!

Posted by: Brooklyn81 | September 26, 2008 12:47 PM | Report abuse

"I'll be taking a weeklong vacation in Hawaii while the Russians invade Georgia, so..."

"..Call me if you need me."


Yeah. A foreign policy debate ought to be fun to watch.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:47 PM | Report abuse

Well, this proves the adage that truth really IS stranger than fiction. Nobody could make this up, that's for sure.

McCain is making a fool of himself on all fronts. Kathleen Parker, the conservative columnist, is now calling for Sarah Palin to step down. Kathleen says she was enthusiastic about Sarah at first, but after listening to her interviews now concedes that Palin is Out of Her League.

Like, DUH.

Is McCain ready to debate? He wasted a whole day yesterday. Hopefully he's really frazzled from all the razzle-dazzle. God knows the rest of the country is!!

Posted by: mavisdarling | September 26, 2008 12:47 PM | Report abuse

So I McCain is elected and there's some kind of political "crisis", is he going to erratically "suspend" his presidency to deal with whatever the problem is?

And since he didn't actually "suspend" anything except for calm, reason, and rationale, most people would call this behavior flaky. Or unpredictable. Or nervous. Or odd. Or more interested in getting attention than in actually doing the work, or just pushing your own agenda at the expense of when negotiations were going well -- well, that's self-absorbed and narcissistic. Tantruming. Acting like a 4-year-old.

I really want that in the White House, don't you?

Posted by: cowdog1 | September 26, 2008 12:47 PM | Report abuse

What did McCain and Obama accomplish during their trip to D.C. ... nothing. There was no reason whatsoever either of these two men needed to be there.
Bush asked them to show up, they did. McCain said he was going to suspend his campaign, put off or cancel the debate, and do "something" in D.C. What did he do, what did he accomplish? Where was he needed?

So I ask those of you who claim they should have been doing their senatorial job in D.C ... wtf?

These guys are running for president, they don't even take a dump without measuring it against the polls, what use could either of them possibly be in this financial crisis?

Posted by: barferio | September 26, 2008 12:47 PM | Report abuse

The U.S. invasion, known as Operation Detachment, was charged with the mission of capturing the airfields on Iwo Jima.[1]

The battle was immortalized by Joe Rosenthal's photograph of the raising of the U.S. flag atop the 166 meter (546 ft) Mount Suribachi by five Marines and one Navy Corpsman... From Wikipedia

FRESH OFF THE PRESS!!!!

OPERATION DETACHMENT FAILED! No McCain Flag Planting on Hill.

Posted by: MILLER123 | September 26, 2008 12:47 PM | Report abuse

Obama = American Socialism

Obama likes the Treasury plan because it close to socialism, and Obama is a Socialist. He want to hurt corporate America, hurt entrepreneurs, hurt small business owners, and make himself the King of America.

Obama = American Socialism

Posted by: RAF3 | September 26, 2008 12:47 PM | Report abuse

Thanks John McCain. Now this thing reeks of politics.

Posted by: Dano111 | September 26, 2008 12:46 PM | Report abuse

Can the McCain campaign get any more farcical? What a joke.

Posted by: wireknob | September 26, 2008 12:45 PM | Report abuse

Are you ready to rummmmmmmmmmble!

DebateMania I is on!

So now, Mr. Multi-task can resume Debate Camp. What else did he do all week in Florida as he was prepping for the debate? He seemed pretty perturbed to have to visit Washington yesterday and take him off his study schedule.

Posted by: Verrazzano | September 26, 2008 12:45 PM | Report abuse

"Right now, McCain is acting a lot more responsible."

Parachuting into DC when he hasn't even read the administration's three page proposal to muck around with a problem that he isn't on any related committee to solve is responsible? Either you don't understand anything about Congress or your making crap up in the hopes you'll sway someone. I don't know which is more pathetic.

Posted by: tweldy | September 26, 2008 12:44 PM | Report abuse

So McCain has restarted his campaign even though the economic agreement has been settled yet?

I thought he said he wouldn't restart until the issue was settled as the agreement was more important than his campaign?

Nothing he has done or said this week has made any sense.

What's amusing is his finatical true believers feel he is a genius and a masterful campaigner with these clever ploys.

WTF???

Posted by: patrick10 | September 26, 2008 12:44 PM | Report abuse

ps: the debate is on....

Posted by: gq_online | September 26, 2008 12:43 PM | Report abuse

Oh, golly, McCain is so wonderful and gracious that he has consented to debate Obama..that mean 'ole devil Obama who didn't care enough to suspend his campaign and cancel the debates.

Posted by: AlanGoldberg54 | September 26, 2008 12:43 PM | Report abuse

We would not be in this mess had the Democrats in Congress not taking the millions in lobbying money from the mortgage industry back in 2004 and 2005 in exchange for allowing Fannie and Freddie to by more sub-prime mortgages.

Democrats deserve only blame for this needed payout, not credit.

Posted by: RAF3 | September 26, 2008 12:42 PM | Report abuse

Mr. Magoo who's 72 is going to need some GPS to find Oxford. He is photographed with Lindsey Graham, an innate disappointment to Southerners. Lindsay said he would stop killing Iraqis when he had established a market economy in Iraq and not a day sooner. War criminals. Chevron Rice has acquired an attorney! Maybe we can clean this up America?

Posted by: rhyer | September 26, 2008 12:42 PM | Report abuse

MCCAIN TURNOUT TO BE A BIG JOKE OF THE DAY what a laugh the media gave him grief bigtime and the newspaper who has endorsed mccain called him mcshame well done new york post well done,mccain has lost it,he suspends his campaign for two days to get a bounce in the polls when i last looked theres BEEN NO change so what did he prove.
NOTHING ABSOLUTELY NOTHING,
WASHINGTON AND THE WHITEHOUSE SHUT HIM OUT BIGTIME,LOL LOL LOL

Posted by: Mariewest111 | September 26, 2008 12:42 PM | Report abuse

It is too bad that so many Americans just don't get it...we see it again and again. McCain did the right thing holding off on the debate. He, and Obama, are U.S. Senators. They have a job to do for us. McCain decided to put the country first, again, by holding off on the debate and campaigning to take care of America's financial crisis. Obama put himself first, as always, and continued campaigning in order to "just win an election." He says one needs to "multitask." Personally, he can "multitask" all he wants. I want a person as President that can prioritize tasks and put my interest WAY ahead of his own. Obama made my decision easy by doing just the opposite. Obama for President? yeah, right.

Posted by: atrueamerican1 | September 26, 2008 12:41 PM | Report abuse

"I don't know who is more pathetic: McConfused or Impaling."

I think the omission of the Pacific Ocean in the assertion that Alaska borders Russia tips it in the favor of the VP.

Posted by: tweldy | September 26, 2008 12:41 PM | Report abuse

I planned to vote for Obama, but I am a little bothered that he thinks it more important to have a debate than to get a workable solution for the financial crisis. Right now, McCain is acting a lot more responsible. I am starting to worry that Obama is all talk and no action.

Posted by: paperclip1 | September 26, 2008 12:41 PM | Report abuse

Given that this stunt has run its course, McCain had no excuse for not going to the debate. No excuse to delay it, and no excuse to delay the V.P. debate either. Let the games begin.

Posted by: jayelle5 | September 26, 2008 12:41 PM | Report abuse

Having Obarma debating McCain is a joke. Mccain will cream this empty suit in a minute. What is he going to do without teleprompter?


Posted by: nsabetus | September 26, 2008 12:19 PM | Report abuse
========================================
The same thing he always does. Answer the question thoughtfully and intelligently; Unlike McCain who will just spit the same crap from his stump speeches over and over and... What’s funny is Sara Palin can't even do that without talking in circles and making zero sense.

Posted by: Creamsykle | September 26, 2008 12:41 PM | Report abuse

The problem with what McCain did isn't that he wanted to help or that he's concerned. No one disputes that. Obama is concerned equally and want a solution also.

It's HOW McCain went about it. He injected unnecessary intentional politics, confusion and panick in an already complex situation. Holding the debate hostage didn't help him, us or the situation. He should be capable doing both as a measure of reassurance. Now everyone is making rash decisions under more pressure than there needed to be.

He also blindside Obama twice. Once in his selfish decision to grandstand and take the gesture by Obama to use to his political advantage, second by the GOP house balk. He knew what they were up to.

After all this, he just sits in the meeting with his head down while Obama runs the show. Unbelievable.

Very poor judgement on McCains part. He’s too erratic, jittery and risky to be President.

Posted by: Dano111 | September 26, 2008 12:40 PM | Report abuse

McCain is going to go down over this stupid stunt, and, what's best, IT IS A SELF INFLICTED WOUND.

No one made him do it. He did it to himself. That's the wonder.

I predict that, on Sunday, Rasmussen will read O 52 M 44

His stupidity is specifically this: He believes that no one ever went broke underestimating the intelligence of the American people. This canard is not true. You can underestimate and profit, but there is a limit to the contempt with which the American people are treated, and McCain and Sarah the Stupid have exceeded that limit.

Posted by: bushbudy | September 26, 2008 12:40 PM | Report abuse

I sure hope Barry does not forget his cigaretts - he's going to need them...

Posted by: seawolfR | September 26, 2008 12:40 PM | Report abuse

I hope the moderator will ask Senator It's Above My Pay Grade what the Hell he thought he was doing strutting around in Berlin in front of the Brandenburg Gate.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:40 PM | Report abuse

Flippity floppity, floppity flippity.

Fish out of water.

This guy is a farce.

Campaign with a little dignity, man. This is your chance to make history, win or lose. Have some respect for the position you strive to hold, the Party you claim to represent and, more importantly, yourself.

Posted by: sean_donaldson | September 26, 2008 12:40 PM | Report abuse

I just heard, from reliable sources, that McCain just now, after a nap, woke up in quite a mood, less than happy about the POW's left in Vietnam.

Apparently he was just lying in his cot, mumbling a bit, and then he leapt up, rushing over to an aid, yelling..

“Get me the Googler!”

The aide brought up the Google search page on his laptop as McCain bellowed:

“Ask it about POWs in Vietnam…”

The aide typed in….. POW… Vietnam…..as McCain yipped

“What's it saying?…..no, hold on….heros….ask it about heros…."

The aide punched ‘heros’ in, and the first entry that came up was ‘Delta Force,' the movie starring Chuck Norris.

McCain looked confused, and barked...

‘What the…?”

The aide apologized, and hit “Images,” having forgotten McCain’s search preference.

In the upper left hand corner of his screen popped up the image of the poster from the movie ‘Delta Force”….

McCain, beaming, yelled..

“ Zippety Do!”

And then he looked over at Steve Schmidt, saying,

“Call Chuck goddammit! Now! Get on it my freind, there’s some leadershippin’ to do!”

At first, everybody in the room just stared at him, but after the shock wore off, and the line died down at the kool-aid dispenser, the staff got on the job with it’s usual zest.

The upshot being that McCain and Chuck Norris will be undertaking a secret rescue mission deep into Laos this weekend.

From the campaign:

"To address this national POW crisis, John will be suspending his campaign and undertaking a top secret super leadership uber-hero mission this weekend. In deference to this patriotic effort, and the fact that we must put Country first, we have of course decided to cancel the VP debate."

(for pool reporters, there are only 164 seats left on the Straight Talk Express flight to Laos, so please call Rick Davis or Carly Fiorini at 1-800-BUS-STOP)

Posted by: robertell | September 26, 2008 12:39 PM | Report abuse

The other day during his press conference, Obama was more focused on the economy and more presidential than McCain. McCain is short sighted and acts like he knows about the economy and "maverickly" makes statements like "The "fundamentals of our economy are strong" and if president he would fire SEC Chairman Republican Christoper Cox. McCain realized that the President can't fire Cox, so he amended his statement (again) and said he would ask for FEC (I think he meant SEC) Cox's resignation. McCain acts impulsively and attacks Obama, while Obama consults with prominent Economists, holds a press conference and takes questions and answers from the press. He decides to put the country first before his politics concerning McCain. That day was one time McCain should have agreed with Bush about not playing the blame game. McCain seems like he's a couple of steps behind. I like the way Obama took his time and evaluated what was going on with the economy. He even talked about the economy from a global perspective.
PS Rip Van Winkle woke up yesterday, held a press conference and finally met with people who might know something about the economy. I was wrong. I said that McCain seems like he's a couple of steps behind. The truth is he's more like a week behind.

Update day before yesterday: McCain moving not suspending campaigns in Washington for photo op.

Yesterday, McCain's late again!
THEY HAVE A PLAN!

McCain's plane didn't make it and he parachuted into to DC to late!

Update Today, Crisis overted or is it?
McCain got kick out of DC because of campaigning in DC. Now wants to do the debate after trying to PLANT McCain FLAG. Photo op was unsuccessful although repubs try to say something different....Crisis overted or is it?

Posted by: MILLER123 | September 26, 2008 12:38 PM | Report abuse

Obama called McCain's bluff and McCain blinked.

Who's the real "decider" in the McCain campaign anyway ... it's Karl Rove. Apparently the widespread derision being heaped on McCain for chickening out on this debate exceeded what little support he was getting for his effort to appear "presidential" and "important".

Only the true believers could force themselves to believe what McCain did in D.C. was anything but a stunt. And worse for Rove/McCain was the impression that McCain would rather grandstand than debate.

So, Rove blinked too. They lost twice in this shoddy little story.

Posted by: barferio | September 26, 2008 12:37 PM | Report abuse

The stupidity of McCain over the last few days is really astonishing.

Remember, he himself states "I make decisions quickly, and often find them to go south. But I take the consequences like a man." or something like that.

OK, that is really really stupid. You can do what you wish as a citizen or as a Senator.

As President, you cannot act this way. This guy is ABSOLUTELY UNQUALIFIED to be president.

Posted by: bushbudy | September 26, 2008 12:37 PM | Report abuse

Unfortunately Obama lacks a killer instinct. This is the one moment I wish Hillary was in Obama's place. It would be nice to see the floor mopped with that McCain deregulator bastard's broken policies. All the crap that's happening in the financial sector is the end product of the free market capitalistic anarchy that define right wing economic policy and no matter how hard they try to wash their hands of it the s*** still stinks. Damn its beautiful. Almost as good as Sara Palin account of Putin's giant head floating over Alaska, invading their airspace. But that's another story for another time.

Posted by: tweldy | September 26, 2008 12:37 PM | Report abuse

I don't know who is more pathetic: McConfused or Impaling.

Posted by: meb54 | September 26, 2008 12:37 PM | Report abuse

I see Obama's trolls are out in force today. These filthy lice do their master's bidding, libeling and ridiculing anyone who dare stand up to the Messiah.

These nonentities are brave when anonymous, but watch there little legs (all six of them) carry them back under their rock if their identities are ever exposed.

Posted by: jd-winterbottom | September 26, 2008 12:26 PM | Report abuse
******************

You, sir/madam, are the current scourge of these boards. You are incapable of posting without personal abuse. You appear to be very angry and irrational and do your cause no good at all here. Please seek help. For whatever good it will do, I, for one, have reported your abuse to the board. It's really intolerable and makes this place extremely unpleasant.

Posted by: abqcleve | September 26, 2008 12:36 PM | Report abuse

looks like someone blinked.
well i'd never thought i'd see the day when I could watch a black man beat the sh*t out of an old white man live in Mississippi tonight at 9PM EST....

Posted by: gq_online | September 26, 2008 12:36 PM | Report abuse

wow! what a shock! I could have told you this yesterday before his stunt.

Posted by: Dano111 | September 26, 2008 12:35 PM | Report abuse

ChooseBestCandidate |
McCain was born in the Panama Canal Zone (that is in Central America and not part of the United States).
Obama was born in Hawaii (Hawaii is one of the United States) . His birth certificate is on his website in a pdf for all to see.

Posted by: maddymappo | September 26, 2008 12:35 PM | Report abuse

Just once I'd like a reporter to ask Senator Call Me If You Need Me if he registered for the selective service.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:35 PM | Report abuse

This bailout is serious. I understand completely why the candidate went back to washington. I would have been very disappointed if they had not. Priorities. I agree that something will have to be done but what I don't agree with is that the government plans to bail out these companies 100%. These companies made the mistake of investing too much of their money poorly. That doesn't mean that they need a 100% bailout to stay solvent. Companies rarely invest 100% of their funds in the same investment. To give these companies a blank check is ludicrous.

Posted by: paperclip1 | September 26, 2008 12:35 PM | Report abuse

The Paulson deal is a matter of Public Record- All changes in it will be as
well. By causing us to Pause and think for an extra day or week, any subsequent improvement on this bailout Will be forever recognized as John McCain's contribution to the rescue of our economy....long after the next 8 years have passed.

Posted by: thecannula | September 26, 2008 12:35 PM | Report abuse

Community organizer is in for a whipping tonight. It's the crack-dealing coke-head who has never held a real job, or lifted a finger to help this nation, against an American hero who consistently puts his country first.

I wonder if any of the thugs posting here know what service is. Doubt it. These anonymous gutless wonders have a yellow streak a mile wide, just like their Savior.

Posted by: jd-winterbottom | September 26, 2008 12:35 PM | Report abuse

They would have campaigned with an emphasis on experience and fiscal responsibility. Given the current economic news, that choice might have been a winner. McCain might have won if he had picked Romney. After only a couple of weeks, his choice of Palin makes McCain look stupid. She's a loser. Most significantly, McCain reached out to the social conservative "base" with the Palin pick rather than the fiscal conservative "base" with a Romney pick. That was a mistake for McCain, the Republican Party, and our country. Even if McCain/Romney hadn't won, they would have re-galvanized the role of the Republican Party as fiscally responsible. Our country needs that message and it would help everyone a lot more than the family values garbage, which people like Palin peddle but seem to inevitably fail to live up to even in their personal lives. McCain/Palin: The Bridge to Nowhere

Posted by: CaptainTC | September 26, 2008 12:34 PM | Report abuse

mccain has performed poorly in his 26 years in the senate and has not displayed leadership ability. the election campaign he has run has been chaotic. he is old,short tempered and uninspiring.mccain lacked academic talent, doing poorly in school and he was a mediocre pilot in the navy. mccain lacks both vision analytical thinking. he is a warmonger-rash and impulsive. the lack of clarity in thinking prevents mccain from analyzing problems and finding solutions and translates into his lack of direction. he is weak on economic issues. mccain has pandered to the republican right wing for many years and constantly flip flopped. race has a negative and unfair impact on the elections, 40 percent of white democrats and 90 percent of white republicans are either racist or have negative opinions about blacks, mccain has run the dirtiest political campaign in election history.mccain opposed equal rights for legal immigrants in 95 and '07 while he offered illegal immigrants a path to citizenship for their votes.then he backed away from supporting illegal immigrants under pressure from the right wing of his party. he poured crocodile tears over three year old hispanic kids dying in the desert when crossing the fence to this country's side. mccain opposed affirmative action in the 80s. when he has to choose,mccain chooses to support the strong over the weak,wrong instead of right, and wall street instead of main street. mccain got away lightly in the keating scandal in the 80s,which is a serious problem at a a time when banks have failed and there is a financial crisis.

in the financial bailout debate,mccain has so far proved incapable of uniting and persuading even his own party. his move to cancel friday's debate was a cheap election gimmick.

mccain made a poor decision in supporting the iraq invasion. contrary to his recent statements which are directed toward the election,he plans to stay indefinitely in iraq. mccain opposed talking to iran when most experts favored it. mccains response to the escalating violence in afghanistan has been weak. the al queda and taliban are unfazed by him. mccain opposed regulation and measures that could have prevented the financial crisis,allowing bad market practices to go out of control. mccain has also responded to the energy crisis with inaction,backing big oil companies. mccain supported bush 90 percent of the time in the last seven years and is responsible for the failed bush and republican administration.mccain would represent a third bush term,even as the problems caused by the republican presidency mount by the day.

mcccain's choice of sarah palin as running mate has been reckless and irresponsible, and at a time when there are two wars to be fought and a slowing economy slipping into recession. he said that 'sarah has foreign policy experience.she lives next door to russia'. that statement indicates his own shallowness and disrespect for the intelligent american voter.

if mccain is elected it would be a dark day in US history.

Posted by: sd71 | September 26, 2008 12:34 PM | Report abuse

McCain "suspends" his campaign to ride into town and save the day because the rest of Congress and the Bush Administration is apparently powerless to act without him and then he accuses Obama of political posturing? Ummm, okay...

Posted by: dritchie57 | September 26, 2008 12:34 PM | Report abuse

Time for comic relief!

Check out the over-the-top post of, "jd-winterbottom," he gets an award for being TODAY'S MOST POETIC HARD RIGHT HEADCASE:

"I see Obama's trolls are out in force today. These filthy lice do their master's bidding, libeling and ridiculing anyone who dare stand up to the Messiah.

These nonentities are brave when anonymous, but watch there little legs (all six of them) carry them back under their rock if their identities are ever exposed."

Posted by: jd-winterbottom | September 26, 2008 12:26 PM

Posted by: AIPACiswar | September 26, 2008 12:34 PM | Report abuse

This petulant old man has now shown us he is totally unqualified to be president.

He is so off the wall he makes Bush look good. And that, to any sane person, is incredibly scary.

Posted by: queenskid | September 26, 2008 12:33 PM | Report abuse

So only a few hours later McCain has come galloping back into our nation's capitol on his white horse (white boat? white fighter plane?) to make everything right for Hank Paulson, Ben Bernanke, Chris Dodd, and Barney Frank who have actually been doing the heavy lifting during this national financial meltdown. Lots of headlines about Me Me Me Me!! Zero constructive contribution to actually solving the problem by John McFake.

Posted by: cwh2 | September 26, 2008 12:33 PM | Report abuse

Was this supposed to a report or an Op-Ed? "The difference between Barack Obama and John McCain was apparent during the White House meeting yesterday where Barack Obama's priority was political posturing in his opening monologue defending the package as it stands. John McCain listened to all sides so he could help focus the debate on finding a bipartisan resolution that is in the interest of taxpayers and homeowners". Talk about Bias Michael D. Shear

Posted by: DoubleO | September 26, 2008 12:32 PM | Report abuse

McCain BLINKED. He FLIP-FLOPPED.

I guess he got his photo-op yesterday at the White House (where he apparently said NOTHING making no contributions to solving the problem).

Posted by: charcoal | September 26, 2008 12:32 PM | Report abuse

Mission Accomplished!

McCain pompously rushed in, slowed down talks and aggravated and frustrated his fellow party leadership when he blatantly barged into the talks, about a topic he knew little about and offered nothing to help the situation. Thereby, brilliantly bringing everyone together in collective bipartisan disgust for his misplaced sense of self importance. Now he unsuspends his campaign, jumps on his high horse and gallops back to the debate where he will no doubt proclaim his victory over bipartisan politics.

Posted by: maddymappo | September 26, 2008 12:31 PM | Report abuse

hey choosebestcandidate, his birth certificate is on his web site. Is that too complicated for you?

Posted by: summicron1 | September 26, 2008 12:30 PM | Report abuse

"My Friends," I am enjoying seeing McCain make such desperate and jesterly political moves. I also love how McCain tried to bully Obama into postponing the debate, as if he (McCain) is the agenda setter for what Obama needs to be doing with his campaign. And you have to love how Obama belittled the entire McCain bs/spin by simply saying that our president needs to be able to do more than 1 thing at a time. It is obvious "My Friends," vote for McCain if you desire a single-task oriented person, someone who makes our current commander in chief look like Einstein!...but hey, America, we Americans elected our current commander in chief so there are obviously some out there who see see an Einstein and a leader in McCain just as they saw and Einstein and leader in our current commander in chief.

Posted by: fedupwithbs | September 26, 2008 12:29 PM | Report abuse

jd-winterbottom, are you a Hutu from Rwanda, by any chance?

"In Rwanda they referred to Tutsis as cockroaches," explains Omaar. "They were not human beings. This is very important to understand, [there are] very close parallels to what happened in Hitler's Germany. [They said,] 'Don't worry, you're not killing humans like you. You are killing some vermin that belongs under your shoe. You're killing cockroaches.'"

Posted by: hitpoints | September 26, 2008 12:29 PM | Report abuse

Lies are lies and stay lies, no matter how many times the Republic Party cadres repeat them about Obama and Biden. However, if you would like to talk about PORK and EARMARKS, how does $1 trillion for bankers sound and $1 trillion for the war lobby? Shall we talk about the governor of 1 1/2 years and her SCANDALS and weird preacher who wants to chase away the practioneers of WITCHCRAFT? Shall we talk about McCain's part in the Lincon Savings bust and scandal? Shall we talk about how the Pentagon told him he'd NEVER make Admiral? Shall we talk about Palin's SUPPORT for Alaska to SECEDE from the USA? Or shall we talk about Obama's reverance for our CONSTITUTION? Yes, the same Constitution your bumbling idiot hero Bush called a "god*amned piece of paper" because it got in the way of his domestic spying program.

Posted by: mongolovesheriff | September 26, 2008 12:29 PM | Report abuse

I HOPE OBAMA WILL HAND MCSAME A LAPTOP AT THE END OF THE DEBATE TO HELP HIM BE PART OF THE 21ST CENTURY! THIS DINASAUR NEEDS REAL CHANGE STARTING WITHIN HIS OWN SELF BEFORE TRYING TO PREACH IT TO OTHERS!

MCSAME THE MOUSE IS NOT ONE OF YOUR GIMMICKS IT IS AN ESSENTIAL TOOL FOR YOU TO CLICK WHEN YOU FINISH COMPOSING AN EMAIL! LOL LOL LOL

Posted by: 1Nouri | September 26, 2008 12:29 PM | Report abuse

Jon Stewart quipped, "When you think about it, Alaska is also near the North Pole, so she must also be friends with Santa."

Posted by: netwitone | September 26, 2008 12:28 PM | Report abuse

Now we get to see more of the same; McEmptyhead spits out platitudes and talking points while Obama gives carefully thought out solutions in clear words. Expect to be told how great a people we are at least twenty-five times by old John as filler what he does not understand.

I'm hoping he gets told what a liar he is point blank by Obama and blows his top in response. But Obama is too reserved to do that. The only thing McCain suspended was disbelief that a major candidate can have such shaky judgment.

Posted by: AIPACiswar | September 26, 2008 12:28 PM | Report abuse

looks to me as if someone took John aside and said "would you please get the F outa here so we can solve this thing?"

Considering that mccain went there with the far too clear of trying to take credit (I love all that talk in his statement) this strikes me as a clear possibility. Perhaps W, sensing that the entire nation was about to turn to tofu on his watch, did the job himself.

Posted by: summicron1 | September 26, 2008 12:28 PM | Report abuse

who is obama?
WHEN ARE WE GOING TO GET A MODERATOR WITH THE GUTS TO ASK OBAMA WHY HE REFUSES TO PRODUCE HIS BIRTH CERTIFICATE?

very soon!

Posted by: ChooseBestCandidate | September 26, 2008 12:28 PM | Report abuse

Mc Cain had to stop his campaign in order to concentrate on the financial crisis ...
Can this guy only do one thing after the other ?
What will happen when 3 big decisions will have to be taken the very same day ?

Posted by: Apasdeloup | September 26, 2008 12:27 PM | Report abuse

"Speaking of Sarah Palin, she said she's a life-long member of the National Rifle Association. Which may explain why she's in favor of shotgun weddings." --Conan O'Brien

Posted by: netwitone | September 26, 2008 12:27 PM | Report abuse

McCain must have solved the financial crisis. Now he is free to travel to the debate.

His wishy-washy, flippy-floppy gamble to cancel the debate made him look weak. He took a risk and rolled snake eyes.

McCain "BLINKED" -- so un-Palin of him. This shows poor judgment, political pandering, and no gonads.

Posted by: charcoal | September 26, 2008 12:27 PM | Report abuse

Oh, there's a credible "news" source! It is like getting your informational news from the national enquirer! Oh yeah...I will answer you like cheney answers the American public...SO.


Posted by: not-me | September 26, 2008
-----------------------
DO nOt lose your country at the expense of being cute. FOX WAS NOT THE ONLY ONE WITH THE VIDEO AND DID YOU MISS THAT I SAID THESE ARE DOCUMENTED FACTS?

Posted by: ChooseBestCandidate | September 26, 2008 12:26 PM | Report abuse

I see Obama's trolls are out in force today. These filthy lice do their master's bidding, libeling and ridiculing anyone who dare stand up to the Messiah.

These nonentities are brave when anonymous, but watch there little legs (all six of them) carry them back under their rock if their identities are ever exposed.

Posted by: jd-winterbottom | September 26, 2008 12:26 PM | Report abuse

This entire week was the beginning of the end for the McCain campaign. This debate is going to be a fiasco. In years to come history will write this as exactly how NOT to run a campaign. we are witnessing the worst case scenario.

Posted by: Conservativemindsareinshackles | September 26, 2008 12:26 PM | Report abuse

It was nice seeing McCain hanging out with his real VP Lieberman.

Posted by: stopthestunts | September 26, 2008 12:26 PM | Report abuse

Thank Goodness the debate is on.
Let Americans take a good look at these two men tonight, and we'll see what happens in the polls a few days from now. If the gap widens, I think is over for McCain, if it tightens, the race is still on!

Posted by: mediahack | September 26, 2008 12:25 PM | Report abuse

I suspect any negativity from the McCain appearance at Old Miss will be due to his intense and delicate political agenda in Washington, thereby impeding his preparation.

This election is a no brainer...the female from across the Bering Straits and the very old guy who really should begin to think about golf.

Let's see how things roll tonight...

Posted by: blackjack3 | September 26, 2008 12:25 PM | Report abuse

I'm not sure which is worse, not sticking to your decisions or constantly making the wrong decisions. So sad Senator McCain, from war hero to I'll say or do anything to get elected. Thank you for making my decision so easy.

Posted by: tmccbo | September 26, 2008 12:24 PM | Report abuse


Good grief. This guy is all over the place. "Unhinged," is one word that comes to mind. How does this not make Obama look like he was right all along? How does it not make him look like someone who isn't panicking in the face of a crisis?

McCain goes off half-cocked about firing Christopher Cox, then he suspends his campaign, then, when that doesn't go over very well, he says he can debate after all! Wow.

Posted by: monk4hall | September 26, 2008 12:24 PM | Report abuse

Blevins- Palin can't answer a question and you think she could debate a Harvard law grad and professor? I understand the spinners who have to claim this was for the country and not to save McCain's butt or postpone the Biden debate(really, can we call anything Palin does a debate?) but surely no one honestly believes that this was anything but a pathetic ploy.

Posted by: AndrearKline | September 26, 2008 12:23 PM | Report abuse

It looks to me like McCain has boxed himself into a corner where anything he does is going to lower his poll numbers, and doing nothing would lower them as well.

That's a remarkable accomplishment, and bodes extremely well for Obama.

McCain is crashing and burning. It's not the first time. And there's no one to blame but himself.

Posted by: officermancuso | September 26, 2008 12:23 PM | Report abuse

...I am laughing at all of the squawking going on here today. It means one thing. McCain has won the cycle (again) and Obama has looked like the empty suit that he is (again)....

Posted by: etpietro | September 26, 2008 12:08 PM
*****************

Is that your conception of what's important? "Win the cycle?" That is the kind of thinking the Rove and Schmidt have contributed to our political landscape. It must be rooted out and burned. If you are an American, you are a disgrace to the country.

Posted by: abqcleve | September 26, 2008 12:23 PM | Report abuse

Hey McCain....Main St is so grateful to you and your buddy Lieberman...man you guys should be on Heroes.

By the way, did you hear your buddy Lieberman talk about Freedom of Speech on Morning Joe?

Remember how your storm troopers threw out a lady who lives on Main St when she arrived with a sign saying something you didn't like. Freedom of speech...what a joke....you only believe in the constitution when it benefits you.

You and Lieberman are hypocrites

Just in case you forgot

http://www.youtube.com/watch?v=L2Oo_pMMBr8

Posted by: steveeyes | September 26, 2008 12:23 PM | Report abuse

"Call me if you need me."

The motto of the South Chicago.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore

I think your motto should be: "Call me an imbecile." You post proves it. Where are you from? The Alabama?

Posted by: edwcorey | September 26, 2008 12:23 PM | Report abuse

"Lets watch and see how Liberals will attempt to cover that up!!!!" They'll just follow the Keating 5 playbook.

Posted by: stopthestunts | September 26, 2008 12:22 PM | Report abuse

Better hope The One We've Been Waiting For went ahead and did some brushing up for tonight's debate on....errr...ummm...uhhh..errrrr...duhhhh...uhhh...foreign affairs.

Something besides peacocking around in front of the Brandenburg Gate while dissing our wounded soldiers in Germany.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:22 PM | Report abuse

"Fox reports 9-25 new documentation shows Obama was hired by Ayers whom obama claims to only know "fleetingly," and that obama worked closely with ayers.

on 9-24-08 obama filed a Motion To Dismiss lawsuit re his birth certificate. But we still have no answers if obama is legitimately authorized to run for president. Case "Berg v. Obama, No. 08-cv-04083."

AP has on file school record for obama showing his faith as Muslim and his name as Barry Soetoro. When did obama change his name to Barack Hussein Obama, Jr. or II?

i feel we are holding interviews with someone and it could turn out to be a complete waste of time, not to mention taxpayers' money.

why dont we qualify the man first befoe delving into other issues obama might not otherwise be even entitled to discuss."
*******************************************


Oh, there's a credible "news" source! It is like getting your informational news from the national enquirer! Oh yeah...I will answer you like cheney answers the American public...SO.

Posted by: not-me | September 26, 2008 12:22 PM | Report abuse

This is hilarious. "Don't know much about economics" McCain plays the "possum gambit" game and gets his behind kicked.

LOL! This will go down in history as one of the stupidest mistakes anyone has ever made in a campaign. It's all downhill from here... he'll look just like Bob Dole in 2 weeks. Palin may have to be replace due to concerns about her ethics, religion, and unpreparedness.

Watch out... here comes McCain/Lieberman. The first three letters of Lieberman's surname tell it all... you can't have a Lieberman without a LIE.

-Wexler

Posted by: WWWexler | September 26, 2008 12:21 PM | Report abuse

I love Harry Reid's comment, "the insertion of presidential politics has not been helpful. I repeat: The insertion of presidential politics has not been helpful." What a joke, McCain tries to jump to the rescue when he's not even on the right committee(s)and negotiations were well underway; he's just getting in the way and creating a giant headache with his limelighting. I used to have a ton of respect for McCain and his abilities as a leader, but not I'm disgusted with everything he's done to stay in the news. He just lost my vote.

Posted by: Rudy4 | September 26, 2008 12:21 PM | Report abuse

I do not want 8 years of this sort of drama and all the war threats amidst the dollar collapsing as out of control spending takes off no matter whether Congress is Dem or Rep. McCain has been making terrible misstatements on economic issues which bodes ill for future. I wanted McCain for judges but they will never get confirmed if Senate Democratic. Undecided now as McCain is too much of a drama queen for me.

Posted by: mascmen7 | September 26, 2008 12:21 PM | Report abuse

The negativity against McCain is deep and wide which reminds of Bush's second election. No one ever met anyone who liked him but he won with the help of the Florida administrator for elections. McCain will need more than that. I imagine his wife will divorce his useless butt.

Posted by: KraftPaper | September 26, 2008 12:21 PM | Report abuse

Oh FOX and Right Wing Airway sna my fax are getting all kinds of crap.

Just cannot stand being a Republican with this stupid Loyalists to the NEOCONS.

It is out right humiliating.

Though McCain looks like a potential leader.The Air Headed comments by Palin are frightening.

And the OILY SPIN by the FOX today
No more FOX for me.

Republicans for Obama and Biden

Posted by: Issa1 | September 26, 2008 12:20 PM | Report abuse

Posted by: LeftwithNochoice | September 26, 2008 12:20 PM | Report abuse

ChooseBestCandidate, it's pretty clear why you are trying to distract people with slander and innuendo. Your man just made a fool out of himself, sure you want to change the topic.

Posted by: nodebris | September 26, 2008 12:20 PM | Report abuse

The moral rigor that impelled McCain to suspend his campaign has suddenly and inexplicably vanished.

Posted by: brickerd | September 26, 2008 12:20 PM | Report abuse

The difference between Barack Obama and John McCain was apparent during the White House meeting yesterday where Barack Obama's priority was political posturing in his opening monologue defending the package as it stands. John McCain listened to all sides so he could help focus the debate on finding a bipartisan resolution that is in the
interest of taxpayers and homeowners. The Democratic interests stood together in opposition to an agreement that would accommodate additional taxpayer protections.


*******

What a crock!

Posted by: netwitone | September 26, 2008 12:20 PM | Report abuse

Can you set the McCain press release in a separate font so there's no confusion that this is not part of the reporting?

Posted by: goobgoob | September 26, 2008 12:19 PM | Report abuse

McCain statement: "he will return to Washington to ensure that all voices and interests are represented in the final agreement" By "all voices" are we to assume he means Freddie Mac will be at the trough with Rick Davis? It seems that Rick "Freddie Mac Lobbyist" Davis has gone the way of Cheney - off to an undisclosed location. Oh well, at least Sarah will be there to keep him company and whip up a few mooseburgers in the bunker. She can wear that lovely gold pin that is just a small portion of the $25K in gifts she has received in her short term as governor.

Posted by: JWAL1 | September 26, 2008 12:19 PM | Report abuse

Having Obarma debating McCain is a joke. Mccain will cream this empty suit in a minute. What is he going to do without teleprompter?

Posted by: nsabetus | September 26, 2008 12:19 PM | Report abuse

CEO Rex W. Tillerson likely called up cowboy McCain and gave him his orders, "You be at that debate!" Exxon Mobil sponsors the debate tonight, no way John could grandstand his way out. This is going to be superb tv.

Posted by: AIPACiswar | September 26, 2008 12:19 PM | Report abuse

Obama and McCain are both still receiving pay checks as Senators - so if there is an issue in Washington, that will demand a vote, why shouldn't they both be there?
I think Obama has concerns that when all the investigations are made public the American people will see how he (and Dodd) personally benefited from Fanny and Freddy!! Lets watch and see how Liberals will attempt to cover that up!!!!

Posted by: Sabrina4 | September 26, 2008 12:19 PM | Report abuse

"Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..


Posted by: linguist64"
*******************************************


hey...name guy, If you republican's (you know who you are. you are the ones that got us in this mess in the first place) are so confident the alzhiemers express will get in, why bother taking names? Sounds to me you are in a defensive mode!

Posted by: not-me | September 26, 2008 12:18 PM | Report abuse

McCain just blinked.

Posted by: nodebris | September 26, 2008 12:18 PM | Report abuse

Enough of this phony posturing by Chicken John.

Things are WORSE today in the negotiations than they were when he 'suspended' his campaign. What's his excuse?


Posted by: stivgdgy | September 26, 2008 12:17 PM | Report abuse

Yes Hclark1, exactly what are you scared of?

Posted by: taddington | September 26, 2008 12:17 PM | Report abuse

Old McPops is funny. He thinks his antics running around has immpressed some people. Who could those people possibly be?

Posted by: Mnnngj | September 26, 2008 12:17 PM | Report abuse

MCSAME COULDNT GET A SICK NOT FROM HIS MUMMY AND WAS ORDERED TO FACE THE MUSIC!

MCSAME: "I AM FEELING FAINT AND TIRED MR KARL ROVE!"

KARL ROVE: YOU WILL BE ALRIGHT! JUST KEEP REPEATING THE SAME LINES THAT YOU LEARNT BY HEART AND YOU WILL BE ALRIGHT!

Posted by: 1Nouri | September 26, 2008 12:17 PM | Report abuse

Next to come: Palin cancels her debate with Biden, claiming she received threats that the Obama campaign was going to sabotage her daughter's shotgun wedding.

Posted by: hitpoints | September 26, 2008 12:17 PM | Report abuse

John McCain had NO choice but to debate, since his "let's drop everything and go rescue Wall Street" ploy blew up in his face! OsiSpeaks.com

Posted by: KYJurisDoctor | September 26, 2008 12:16 PM | Report abuse

Fox reports 9-25 new documentation shows Obama was hired by Ayers whom obama claims to only know "fleetingly," and that obama worked closely with ayers.

on 9-24-08 obama filed a Motion To Dismiss lawsuit re his birth certificate. But we still have no answers if obama is legitimately authorized to run for president. Case "Berg v. Obama, No. 08-cv-04083."

AP has on file school record for obama showing his faith as Muslim and his name as Barry Soetoro. When did obama change his name to Barack Hussein Obama, Jr. or II?

i feel we are holding interviews with someone and it could turn out to be a complete waste of time, not to mention taxpayers' money.

why dont we qualify the man first befoe delving into other issues obama might not otherwise be even entitled to discuss.

Posted by: ChooseBestCandidate | September 26, 2008 12:15 PM | Report abuse

Who cares if he goes or not, after the lie to Letterman, how cound we possibly trust him for anything?

Posted by: citigreg | September 26, 2008 12:15 PM | Report abuse

"Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters.."

Even if that happened, McCain will be dead by then or rapidly heading towards eighty. Either way, you're describing the "crypt-keeper" cowboy.

Posted by: stopthestunts | September 26, 2008 12:15 PM | Report abuse

The most telling information on the McCain ploy was in the NT Times:

"The aide, Kevin Smith, said Republicans revolted, in part, because they were chafing at what they saw as an attempt by Democrats to jam through an agreement on the bailout early Thursday and deny Mr. McCain an opportunity to participate in the agreement."

DENY McCain an opportunity to look like the knight on a white horse? Was that what the implosion of the deal about?

Now if you think that McCain didn't know about this FUBAR in advance I have some nice stock in the financial sector to sell you.

It was all planned to make McCain look like the hero and he failed to deliver during the meeting at the White House.

Why didn't these "Rebel Republicans for McCain" put their thoughts and concerns on the table days ago? Would have saved a week of work for Congress and we might be further along than we are now.

The actions by McCain and his Rebel Republican friends is the most horrid example of putting politics above the well being of this nation that I have seen.

Posted by: KHMJr | September 26, 2008 12:15 PM | Report abuse

Reading the McCain Campaign's statement about the alleged 'political posturing' of Barack Obama is simply the limit--and it clearly is not true. Perhaps he MEANT to say "because of political posturing by Republicans and John McCain' the deal fell apart.

Posted by: dhorne1 | September 26, 2008 12:15 PM | Report abuse


"Call me if you need me."

The motto of the South Chicago.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:15 PM | Report abuse

Well, this is the one instance that McCain has stayed true to one of his policy statements, "More Transparency in Government".This shameful political stunt he pulled this week is about as "transparent" as they come. What a PATHETIC attempt on his part to show his "phoney" political muscle. He has been every which a way there is on the economy from the time he threw his hat in the ring. McCain has become too ridiculous for words. POOR JUDGEMENT, POOR TEMPERMENT, POOR JOHN MCCAIN. Not only does he NOT understand what is "best" for America, he doesn't even understand what is "best" for himself.SAD, SAD, SAD...John, you wanted to make this election about character? Well, now it is and you still come up way short.

Posted by: ccclam | September 26, 2008 12:14 PM | Report abuse

"Hey Camp Obama- This addition of Blunt to the discussion is what we McCain supporters call.....AN ACCOMPLISHMENT-
(a novel term for those who support a candidate WITHOUT any)"

Not surprising considering what Republicans consider mission accomplished.
__________________--

How do you explaint he Keating Five. When McCain told regualtors to back off Keatings company.

Posted by: kde124 | September 26, 2008 12:14 PM | Report abuse

ChooseBestCandidate: the meeting Obama was reluctant to attend, that McCain asked for so he could grandstand, and Bush orchestrated with his campaign for a whole day before even inviting Obama, almost caused the whole deal to blow up. they are spending all day today undoing the damage McCain's stupid stunt caused. He isn't leading at all. He won't even tell anyone what his position is on the Paulson plan or the house republican alternative. Obama was simply letting the committee with jurisdiction over the situation take the lead. that's responsible leadership, McCain was playing gunslinger, only it was not a gunfight until he got there

Posted by: JoeT1 | September 26, 2008 12:14 PM | Report abuse

did mcCain ever say he wouldnt attend? i thought he just said the crisis deserved precedence.

this makes obama look bad because obama didnt want to go then was forced there.

this is the same way McCain had his way and now having Obma say Drill here drill now.

same way mcCain forced obama abroad
same way mcCain forced obama to say the surge is working

McCain looks like leader and obama looks like someone who cant quite get his priorities right.

the same way his wife was so obviously missing from New York on 9-11.

Posted by: ChooseBestCandidate | September 26, 2008 12:04 PM | Report abuse
*************************************
Man, they are really panicking now. McBush made a fool of himself. Obama brushed made your McBush folks and FOX and friends look like the dumb idiots you are. You can't debate the issues.

Posted by: sherardg | September 26, 2008 12:13 PM | Report abuse

Flip-Flop. Flip-Flop This article is also so biased making McCain look like the hero a role he plays so well by the way. I still think this was all a political stunt to benefit his campaign. Now he can say I am the one who put country first while you were still campaigning.

No you put your campaign first and you wanting to win first. You want to fool the American people into thinking you can handle this crisis when you and your Republican cronies contributed to this mess. We already know that the economy is still not your strong point. We all know that a few weeks ago the fundamentals of the economy is strong. Now all of sudden this week it is a crisis. Make up your mind McCain.

McCain is only saving face by showing up at the debate. He knew he would not be looked upon favorably if he could not take 90 minutes out to handle a debate. After all he is not in charge yet and Lord willing he never will be.

God forbid if McCain wins the election. This country cannot survive him and then survive Palin taking over once something happens to his Great Grandpa self. He needs to go back to Arizona and sit down.

Posted by: bjlopez1130 | September 26, 2008 12:13 PM | Report abuse

I am glad McCain will be there. He is being mis-guided by his handlers...especially Rick "Fannie/Freddie paid me Two Million" Davis.

Give America the open and fair debate we deserve so we can make the best choice possible. Hopefully, the stunts and petty crap is overwith.

I DO think this 180 by McCain has something to do with public opinion. No one was buying his excuse or that he had to "rush to DC to break the tie". So, he saw it was hurting him more than helping and will debate tonight. Excellent - finally a good decision from this guy.

Of course, no one will forget that we had to beg him to show up.

Posted by: free-donny | September 26, 2008 12:13 PM | Report abuse

"Hey Camp Obama- This addition of Blunt to the discussion is what we McCain supporters call.....AN ACCOMPLISHMENT-
(a novel term for those who support a candidate WITHOUT any)"

Not surprising considering what Republicans consider mission accomplished.

Posted by: stopthestunts | September 26, 2008 12:12 PM | Report abuse


Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..


Posted by: linguist64
***************************
yeah...shaking in our boots. Now, here's my name and spell it right: F U C K and last name O F F. Got that?

-------------------------------------------

LMAO!!!


____________________--

Dumb Shi&, McCain and Republicans got us here, I am a republican, and they have convinced me to run, run fast from them. We are going down, so I agree you should F U C K O F F, got it.


Obama 08

Posted by: kde124 | September 26, 2008 12:11 PM | Report abuse

Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..
Posted by: linguist64

--------------------------

You know, back in the glory days of the Republican Party, it was only party LEADERS who made "Enemy Lists."

Posted by: dane1 | September 26, 2008 12:11 PM | Report abuse

BREAKING NEWS: Presidential candidate agrees to show up for a scheduled debate

By resuming a campaign that was never *really* suspended, McCain is now for the debate that he was already for before he was against. Only in a campaign this erratic and impulsive could this be considered news. If this is what a "maverick" ticket brings to the table, I'll say "thanks but no thanks" to that bridge to nowhere.

Posted by: ComfortablyDumb | September 26, 2008 12:11 PM | Report abuse

I think McClown missed his boyfriend Lieberman and needed a quicky. That's why he came back to Washington. Gives "Mr. McCain goes to Washington" a whole new meaning.

Posted by: thor2 | September 26, 2008 12:10 PM | Report abuse


I hope McCain goes to Mississippi and takes Obama's fuzzy head and dust mops the stage with it.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:04 PM | Report abuse
..................

Fuzzy Head?

Hmmm.

Yep, we're still in the USA.

Posted by: binkynh | September 26, 2008 12:09 PM | Report abuse

Before Bush's phone call (which McCain dialed for him), as McCain put everything on hold to help fix our country's economic fallout, Obama stood back and made the statement "If I can be helpful, then I am prepared to be anywhere, any time". I guess he was too busy cramming in Clearwater for his big midterm. Cue the music-


CHORUS
And no wind (no wind)
And no rain (no rain)
Or winter’s cold
Can stop me, baby (oh baby)
‘Cause if you’re ever in trouble
I’ll be there on the double
Just send for me, baby
Oh baby....

Country first or ME first ???

Posted by: thecannula | September 26, 2008 12:09 PM | Report abuse

Want a good laugh? Turn on your AM radio and listen to all the rightwing bleaters as they try another synchronized backflip and repeat McCain's spin about "resuming" his campaign because "significant progress has been made." Then listen to Palin's interview with Couric.

Posted by: irratical | September 26, 2008 12:09 PM | Report abuse

Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..


Posted by: linguist64
***************************
yeah...shaking in our boots. Now, here's my name and spell it right: F U C K and last name O F F. Got that?

-------------------------------------------

LMAO!!!

Posted by: solrac2002 | September 26, 2008 12:09 PM | Report abuse

McCain's showboating and grandstanding and theatrics... all resulted in nothing but negatives for his campaign. He's being blamed by many for mucking up the negotiations, he alienated a popular nighttime talk show host (millions of independents watch Letterman), he's having to attend the debate due to public pressure -- but it means he lost the "who will blink first" contest, and he has no excuse to delay the Palin and Biden debate. McCain's ploy was foolish.

Posted by: DogBitez | September 26, 2008 12:09 PM | Report abuse

This stunt was a waste of time and jet fuel. Nothing was accomplished, and the whole thing fell back into McCain's lap like a dead bird.

I am so tired of all of this positioning and wrangling. I have seen children come to consensus more effectively than these elected officials.

I say let's just bail on the whole thing. If a compromise cannot be reached, then just walk away.

Posted by: PAVoter | September 26, 2008 12:09 PM | Report abuse

Whine, whine, whine. Do liberals do anything BUT that?

I am laughing at all of the squawking going on here today. It means one thing. McCain has won the cycle (again) and Obama has looked like the empty suit that he is (again).

You can whine about it all you want, but you'll be seeing the change in the polls next week. (The early polls are already showing it.) First McCain outmaneuvered Obama on the economy, next he is going to wipe the floor with him on foreign policy.

But feel free to whine about it. It won't change November or President McCain's inauguration plans.

Posted by: etpietro | September 26, 2008 12:08 PM | Report abuse

"He (McCain) is optimistic that there has been significant progress toward a bipartisan agreement now that there is a framework for all parties to be represented in negotiations, including Representative Blunt as a designated negotiator for House Republicans."

********************

Hey Camp Obama- This addition of Blunt to the discussion is what we McCain supporters call.....AN ACCOMPLISHMENT-
(a novel term for those who support a candidate WITHOUT any)

Posted by: thecannula | September 26, 2008 12:08 PM | Report abuse

McSame is like a Hurrican! He came, destroy evertything that was built and left to do the damage elsewhere!

Isnt it itme for this old man to retire with what is left of his dignity! He can use his retirement for real change within strating by learning how to use a computer and send emails to his fans!

Posted by: 1Nouri | September 26, 2008 12:07 PM | Report abuse

"Call me if you need me."


..just sounds exactly like something an affimative action parasite would say..

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:07 PM | Report abuse

"They are both senators and both needed to be in Washington. McCain was correct to suspend his campaign."

But he didn't suspend his campaign. He just said he did. He didn't even rush back to Washington after he suspended. He hung around NY doing his talk shows and dinners. All his campaign headquarters were not even aware he suspended his campaign and the commercials kept coming. Where was the suspension?

Posted by: stopthestunts | September 26, 2008 12:07 PM | Report abuse

what a joke. Obama shows up at a meeting he didn't want to go to that was just a McCain photo op, supports the compromise that Bush is asking for, McCain does nothing after starting the whole mess, and it's Obaba's fault the whole thing blew up? give me a break.

McCain manufactured the lack of progress so he could pretend to solve it. now he's fabricating the progress so he can go to the debate. the only progress is that some folks are backing away from the mess he caused.

Posted by: JoeT1 | September 26, 2008 12:07 PM | Report abuse

linguis64, what are you, like, 12?

Please, add the name "nodebris" to your list.

And I'm sure McCain will always be available to fly in and "save the day," just like he did yesterday!

After all, how hard is it to fly to DC with no plan, not understanding the problem, suggest nothing, do nothing, then fly out again the next day?

Posted by: nodebris | September 26, 2008 12:07 PM | Report abuse


I hope McCain goes to Mississippi and takes Obama's fuzzy head and dust mops the stage with it.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore
******************************
youryellowstainedunderwearisstartingtosmell, I hope someday you wake up to what a racist a$$hat you are and get help...

Posted by: LABC | September 26, 2008 12:07 PM | Report abuse

mbm011, McCain thinks no more of this country other then trying to take credit for fixing the financial crisis. THAT IS McCain's sole "MO" and why he wanted to suspend the debate so he can get all the credit. Anyone with common sense would know you can NOT fix a financial crisis overnight or in one day...it's going to take time. The current administration got us into this Bulls**t with their greed and attempts to privatize everything so they can reap the benefits with their companies. McCain would do anything to win votes. He would steal from his own Mother if he has to.

Posted by: NotGood | September 26, 2008 12:06 PM | Report abuse

Thank goodness we didn't have to take Obama up on his offer to "call him if we need him".
What a joke...McCain could of sent Palin to debate Obama, even she has more exp than he.

Wake up America, he is not the answer, only a token savior by a failing party.

PS. the commercial about McCain's battle with cancer was a new low for liberals. WOW.truly disgusting.

Posted by: blevins20061

__________________

New low, the fact is Palin may be running this country if something happens to McCain. Why are we not allowed to talk about it.

Just like were are not allowed to talk about McCains Keating five involvement because it was so long ago, but yet he reminds us of his days as a POW. I tremedously respect what McCain has down for this Country as a soilder, but does not make him ready to be president. He is broken and frail, and Palin is next in charge, the people need to know everything.

Why is the commercial so bad, because it is true. You didnt say it was a lie, it is true and we have to consider it.

Posted by: kde124 | September 26, 2008 12:06 PM | Report abuse

News flash:
It turns out that all those investment bankers and financiers on Wall Street are actually a bunch of Al Qaeda operatives bent on terrorizing America. Be afraid! Scary scary!

If this "crisis" is the October Surprise, first they sprang it early, and secondly, its not playing too well to grampy's advantage. This feels like watching McCain as the ball in a pinball machine. He's bouncing all over the place, getting slapped around by events. Imagine 4 or 8 years of that where what he did actually mattered.

Posted by: PrattleinSeattle | September 26, 2008 12:06 PM | Report abuse

McCain is a joke.

Posted by: Bebesgal75 | September 26, 2008 12:05 PM | Report abuse

I am glad that McCain has decided to debate. This is an important part of the campaign process. But I must tell you, this whole incident made him look confused, undecided, waffling and weak, quite frankly. He didnt get a deal pushed through, and frankly was not even welcomed by members of his own party. Wow. Obama had already started to pull away in the polls. I am thinking now Obama might win in a landslide in November. McCain just is not the guy to deal with problems of today.

Posted by: garrett66 | September 26, 2008 12:05 PM | Report abuse

Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..


Posted by: linguist64
***************************
yeah...shaking in our boots. Now, here's my name and spell it right: F U C K and last name O F F. Got that?

Posted by: LABC | September 26, 2008 12:04 PM | Report abuse

did mcCain ever say he wouldnt attend? i thought he just said the crisis deserved precedence.

this makes obama look bad because obama didnt want to go then was forced there.

this is the same way McCain had his way and now having Obma say Drill here drill now.

same way mcCain forced obama abroad
same way mcCain forced obama to say the surge is working

McCain looks like leader and obama looks like someone who cant quite get his priorities right.

the same way his wife was so obviously missing from New York on 9-11.

Posted by: ChooseBestCandidate | September 26, 2008 12:04 PM | Report abuse

What a bunch of amateur "Top Gun" antics! McDazed tries to pilot his way out of a crappy situation that he himself got into his usual erratic brand of political acrobatics. And when that failed, resulting in a flat spin, today he has to bail out. Look out below maverick...you and your Goose are about to hit the drink!

Posted by: monel7191 | September 26, 2008 12:04 PM | Report abuse

I hope McCain goes to Mississippi and takes Obama's fuzzy head and dust mops the stage with it.

Posted by: YouryellowribbonmagnetwontgetyouintoHeavenanymore | September 26, 2008 12:04 PM | Report abuse

Oh thank God! I've been so worried. How would we know Right from Wrong unless we had the skinny from Ole' Straight-Talk his-self? He won the war in Vietnam, then the war in Iraq, invented the Blackberry, gave us the freedom to worship in whatever fundamentalist Christian Church we please, and now he's saved our economy

Posted by: dane1 | September 26, 2008 12:03 PM | Report abuse

Oh my! Having just read Sen McCain's press release in this article for the first time, and putting it into context of the reality reported by so many others involved, including the White House, I don't know if I've ever seen such bald face lies... betting that the American people are stupid.

In 2000, Sen. McCain was the first politician that I had ever in my then 41 years donated money..., I'm prior service Army, thought he was a "straight talk" kind of guy..., but now it is plain, he only cares about himself and becoming President. I have lost not just most of my respect for the man, but all of it and consider him to be without honor. His "Country First" slogan a joke, evidenced first and foremost by his choice of VP running mate, given as much thought as this recent stunt to fly to DC and frell an agreement that had all but been settled.

Posted by: BruceBlack | September 26, 2008 12:03 PM | Report abuse

Keep up all of the anti-McCain hate-mail, all you haters. I'm keeping a log of all of your on-line names, so I'll know exactly whom to blame if/when Obama becomes President and ruins this country. Then you'll be BEGGING for McCain to save the day, but it'll be too late. Haters, that's all you are, haters..

Posted by: linguist64 | September 26, 2008 12:02 PM | Report abuse

What a d@uche! What is the next stunt? Fly the plane in by himself and then parachute into the center? What is with the drama, McLame?

Posted by: LABC | September 26, 2008 12:01 PM | Report abuse

Wow, they've taken Rovian spin to a new level.

McCain should be ashamed of himself. The rest of us are simply embarrassed for him.

Last sad gasps of a desperate campaign.

Posted by: szang@sbgnet.com | September 26, 2008 12:01 PM | Report abuse

Thank goodness we didn't have to take Obama up on his offer to "call him if we need him".
What a joke...McCain could of sent Palin to debate Obama, even she has more exp than he.

Wake up America, he is not the answer, only a token savior by a failing party.

PS. the commercial about McCain's battle with cancer was a new low for liberals. WOW.truly disgusting.

Posted by: blevins20061
-----

You're kidding right? Palin has more experience? "...our next-door neighbors are foreign countries, there in the state that I am the executive of." Right. We live in the DC metro area. Which is right across the ocean from Europe, and Africa. Thus, I have tons of foreign policy experience.

Posted by: thornwalker1 | September 26, 2008 12:01 PM | Report abuse

One cynical remark which I do believe was true was that the McCain's focus groups told him that debating was the right thing for him to do.

Posted by: Gator-ron | September 26, 2008 12:00 PM | Report abuse

McCain: 'Mission Accomplished'
Rest of World: What's he talking about?

Posted by: damnpost1 | September 26, 2008 12:00 PM | Report abuse

Well it is about time he confirmed his participation. He put us through all of this drama for what?? FOR GOODNESS SAKE LET THE SHOW GO ON--we have less than 6 weeks before we elect our next President

Posted by: info40 | September 26, 2008 12:00 PM | Report abuse

I have totally lost all faith in McCain. He has truly let people down with trivial stunts and poltical drama. He went to Washington, and did not even take a stand.

What is very interesting, is he said he did this for the country, to put country first, why did he have to come out with this dramatic announcement that he was suspending his campaign, and delaying the debate. He should have just went to Washington and did whatever he had to do, if it was truly country first. NO he made sure everyone was aware of his pitch. His pitch didnt work, people didnt buy it.

The notion that he would not have been able to make this 1.5 hour debate, was just insane. I have no faith in this man or his partner, and I have made up my mind that he will not be good leading our country. I am further frieghtened by the fact that his running mate will be a heart beat away from the Presidency.

I have to vote Obama, McCain and Palin sharades have left me with a horrible and scary feeling

Posted by: kde124 | September 26, 2008 12:00 PM | Report abuse

McCain rushes to save the day in Washington! Doesn't get squat done. Actually makes things worse ... actually ruins the deal that was just about to pass.

Got his photo-op next to the president, though. Mission accomplished.


Posted by: Wadsworth1 | September 26, 2008 11:59 AM | Report abuse

"Resuming his campaign." That's a good one. Michael Shear is obviously one of those reporters who enjoys letting McCain push his face into the mud.

Just to clarify: McCain did not in any way "suspend" his campaign.

Question for Mr. Shear: Are you going to do your job, or do you want us to continue to do it for you?

Posted by: jlelijah | September 26, 2008 11:59 AM | Report abuse

At least McCain thought more of the country than Obama. At first when asked, Obama said "call me if you need me".

They are both senators and both needed to be in Washington. McCain was correct to suspend his campaign.

Posted by: mbm011 | September 26, 2008 11:59 AM | Report abuse

Whether you are a republican or not, how can our country
possibly vote for a man who believes this?

From the two books by these names...

.

From Dreams of My Father: 'I ceased to advertise my
mother's race at the age of 12 or 13, when I began to suspect that by doing
so I was ingratiating myself to whites.'

From Dreams of My Father : 'I found a solace in
nursing a pervasive sense of grievance and animosity against my mother's
race.'

From Dreams of My Father: 'There was something
about him that made me wary, a little too sure of himself, maybe. And
white.'

From Dreams of My Father: 'It remained necessary
to prove which side you were on, to show your loyalty to the black masses,
to strike out and name names.'

From Dreams of My Father: 'I never emulate white
men and brown men whose fates didn't speak to my own. It was into my
father's image, the black man, son of Africa ,( he lies here he has no
african roots) that I'd packed all the
attributes I sought in myself , the attributes of Martin and Malcolm,
DuBois and Mandela.'

And finally the most ALARMING one of them all...

From Audacity of Hope: 'I will stand with the
Muslims should the political winds shift in an ugly direction.'

We CANNOT have someone with this type of
mentality running our great nation! I don't care whether you're a Democrat,
Republican or an Independent; We cannot elect this man into the most
powerful position in the United States of America...President.

Posted by: hclark1 | September 26, 2008 11:51 AM | Report abuse
**********************************
Give it up. The same old FOX bullsh.t.

Posted by: sherardg | September 26, 2008 11:58 AM | Report abuse

An honest man in politics shines more there than he would elsewhere.

Obama / Biden ß8

Posted by: wave06 | September 26, 2008 11:57 AM | Report abuse

McPhotoop spent 90 min. this morning in Senate and single-handedly saved the deal at the last minute. WOW. Imagine what he could've accomplished had he spent more time there. He could've ended the war in Iraq, Afghanistan, stop global warming, cure AIDS, end poverty... the possibilities are endless.
What a difference a photo-op makes....
and.... POW!

Posted by: thor2 | September 26, 2008 11:57 AM | Report abuse

Every day is a new adventure with John McCain. He reverses himself to attend the debate with the prospects for a deal weaker than when he first injected himself. Wow, what a great leader!

Posted by: skrut003 | September 26, 2008 11:57 AM | Report abuse

And they think Biden does gaffes....Good luck getting over this one John...

Posted by: yakmon | September 26, 2008 11:57 AM | Report abuse

McCain getting out of Washington is the single most promising thing I heard all day. He caused the problem and his getting out will solve it. I question the integrity of the house Republicans and whether this was a ploy on their part. But either way the American people are better off with the fiery Mr McCain in Oxford than in Washington. This debate is important to see how the candidates respond to question on foreign policy and on the financial crisis we face.

I hope that Mr Obama realizes that it is also a question of management style and that he discusses the harm that partisan politics can play in rerailing a settlement and how he kept his party in check and kept them focused. McCain on the other hand had to go rushing to Washington because he was not able to marshal his forces to cooperate and it took his personal presence to settle things down. Avoiding problems by being organized and prepared is better than putting out fires like McCain did.

Posted by: Gator-ron | September 26, 2008 11:56 AM | Report abuse

Hclark1,

I can vote for him with no problem.

Posted by: rharring | September 26, 2008 11:55 AM | Report abuse

So is McCain suspending his suspension and then re-suspending after the debates? Wouldn't it just be easier to just quit?

Posted by: stopthestunts | September 26, 2008 11:55 AM | Report abuse

Ha, better watch what you wish for Obamites. Your guy can't cower in the corner tonight after all. McCain will wipe the floor with The One's empty suit tonight. And I hope he brings up the reason for the stall on the bail out deal: 20% of the money going to ACORN, Obama and Ayers pet project in inner city Chicago that was responsible for much of the mortage crisis in the first place.

Posted by: thinkwithyourbrain | September 26, 2008 11:55 AM | Report abuse

Did anyone catch the picture of the cell phone in his hand? Wow! I think he's trying to show he has a grasp on modern technology... He can indeed walk and talk at the same time. Question still remains if anything he says is coherent...

Posted by: yakmon | September 26, 2008 11:54 AM | Report abuse

It appears that Sen. McCain is behaving in a somewhat erratic fashion. It is difficult to determine what his position is in all this. He does not appear helpful in the quest to get a deal on the bailout. -- Dave Jewell, Philadelphia.

Posted by: dajewell | September 26, 2008 11:54 AM | Report abuse

McCain just needed a quick layover in DC or he was gonna get Obamalanched, which will happen at the debate anyways..

You see, McCain felt like a fish out of water not sitting at his desk, surrounded by a gaggle of lobbyists telling him what's in it for him. It's been a few months since he's felt that, now he's re-charged.

Posted by: jfern03 | September 26, 2008 11:54 AM | Report abuse

McCain's cheap theatricals merely hurt his chances. Not even Republicans believe that he acted wisely. But then of course he never did. Always shooting from the hip without thinking, and always getting in trouble doing so. His cowboy tactics may be fun in the movies, but when the fate of a nation depends on its President -- not very wise and not very smart.

Posted by: dunnhaupt | September 26, 2008 11:53 AM | Report abuse

What a joke. McCain "suspends" his campaign, which had utterly no effect on his politicking activities, shows up in Washington, says nothing at the negotiations, throws a monkey wrench into deal-making, then goes back on his word that he would not debate unless a deal is reached, and decides "nevermind" and heads for the debate. Anybody who would trust this country at this time to such an erratic loose cannon needs to have his head examined even more than McCain does.

******************************************
I could not agree with you more. I mean, HOW STUPID DO THEY THINK WE ARE? McBush thought Obama would follow the leader and it did not work. When he canceled the debates, I immediately turned to FOX. I do so to anticipate the talking pints the morons would parrot the next day. The talking point was "McCain cares more about the country" or "puts the country first". Sure enough, the dumb asses fell for it. Obama out classed McBush again. And Sarah Palin. What a bimbo.

Posted by: sherardg | September 26, 2008 11:53 AM | Report abuse

McPain is acting up like an attention deprived teenager. What's next -- suicide threats?

Posted by: ih82blog | September 26, 2008 11:52 AM | Report abuse

Jon Stewart was priceless on this subject. McCain is making himself a laughing stock. Just what we need in a president.

Posted by: SarahBB | September 26, 2008 11:52 AM | Report abuse

If he wants to suspend his campaign permanently to go work on his accounting skills I'd be in favor of that....

Posted by: AIPACiswar | September 26, 2008 11:52 AM | Report abuse

What a phony McCain is! He desperately needs for the discussion to be about cosmetic issues such as whether to attend the long-scheduled debate. Otherwise he'd have to deal with real issues -- such as his responsibility, and that of his adviser Phil Graham, for deregulatory measures that removed safeguards that had prevented this type of meltdown since the 1930's. Otherwise he'd have to deal with why it was he thought the economy was "fundamentally sound" as it was crashing and burning all around him. Otherwise he'd have to deal with why it took him FOUR days to even read the Paulson proposal.

Can we afford such a man in the White House? Of course not. He has no intellect, no judgment, no concern for his country (else how could have picked Palin as VP), just a burning ambition to be President that caused him to sell his soul to the right wing of the GOP in order to be nominated. Once he called the Bush tax cuts for the wealthy unfair; then he sold out to the neocons. Once he called Robertson and Falwell agents of intolerance; then he sold out to the right wing evangelicals. Once he called water boarding torture; then he needed support from the Bushies. Once he had a wife who waited for him while he was a POW. Then she lost her looks and he met a woman 18 years younger than he, had an adulterous affair with her, dumped his loyal first wife to marry her, and now lives on her inherited wealth and uses his influence to keep her from being prosecuted for stealing drugs from her charity to support her drug addiction. A charter member of the Keating Five bribe takers, he intervened with S&L regulators on behalf of thieves who gave his campaign money and did business with his wife. He is a 72 year old 4-time cancer survivor with anger management issues who has a remarkable lack of intellect and intellectual curiosity (not reading the Paulson plan for 4 days was incredible and speaks volumes about him), has spent a career doing the bidding of lobbyists and whose campaign is now run by lobbyists with huge stakes in the market meltdown. He has proven that he has no knowledge of the economy and no judgment at all. If he doesn't show up, just let Obama have a town meeting on national TV -- McCain would have had nothing substantive to say anyway; he never does.

Posted by: dolph924 | September 26, 2008 11:51 AM | Report abuse

Whether you are a republican or not, how can our country
possibly vote for a man who believes this?

From the two books by these names...

.

From Dreams of My Father: 'I ceased to advertise my
mother's race at the age of 12 or 13, when I began to suspect that by doing
so I was ingratiating myself to whites.'

From Dreams of My Father : 'I found a solace in
nursing a pervasive sense of grievance and animosity against my mother's
race.'

From Dreams of My Father: 'There was something
about him that made me wary, a little too sure of himself, maybe. And
white.'

From Dreams of My Father: 'It remained necessary
to prove which side you were on, to show your loyalty to the black masses,
to strike out and name names.'

From Dreams of My Father: 'I never emulate white
men and brown men whose fates didn't speak to my own. It was into my
father's image, the black man, son of Africa ,( he lies here he has no
african roots) that I'd packed all the
attributes I sought in myself , the attributes of Martin and Malcolm,
DuBois and Mandela.'

And finally the most ALARMING one of them all...

From Audacity of Hope: 'I will stand with the
Muslims should the political winds shift in an ugly direction.'

We CANNOT have someone with this type of
mentality running our great nation! I don't care whether you're a Democrat,
Republican or an Independent; We cannot elect this man into the most
powerful position in the United States of America...President.

Posted by: hclark1 | September 26, 2008 11:51 AM | Report abuse

No wonder the Irainian president said the USA empire is over. It will be over if McCain gets elected. So - Wall Street and Main Street, do not vote for McCain or you will be speaking Persian, and wearing turbins.

Posted by: msreginacomcastnet | September 26, 2008 11:51 AM | Report abuse

Bush said: "Something Substantial must be done" - IMPEACH "W"! That will be VERY SUBSTANTIAL, and LONG OVERDUE!

Whoever coined the expression THE DEVIL IS IN THE DETAIL may have been right... BUT: YOU KNOW THE DEVIL - He talked about "WMD". . . Now he Goes to War for CAPITAL HILL, and Against The American People.

Spell it CAPITAL HILL, until further notice.

Posted by: index_on_censorship | September 26, 2008 11:50 AM | Report abuse

And it's all because of you McVain. I'm not a Dem, but I hope Obama rips you a new a**hole.

Posted by: ooxomoxoo | September 26, 2008 11:50 AM | Report abuse

You should do a much better job of showing that McCain's announcement is not your blog words. This entry ends with no recap, no end quotes. It treads a fine line of looking like your own analysis to the untrained eye. More is expected from experienced journalists in a role like this, titled, "The Trail." Poor form.

Posted by: lindsayhowerton | September 26, 2008 11:50 AM | Report abuse

this obama kid doesnt show much respect,
he is supposed to serving the people,
not his EGO

Posted by: USA3 | September 26, 2008 11:50 AM | Report abuse

FLIP FLOP, FLIP FLOP!! First he says he won't go unless there is a deal. Well, there was one and he f@cked it up!! Now there is progress? LMAO.

At this point, McChicken is making himself more and more of a fool by the minute.

At least he has the stones to show up after Oxford and MI bothered putting this little debate for the American people.

What on earth has happened to John McCain? To think I was going to vote for this guy in 2000. What a pitiful old fool.

Posted by: VeloStrummer | September 26, 2008 11:49 AM | Report abuse

What blather! Do McCain's enablers think the American public is so stupid as to believe this nonsense. According to all reports I've seen he sat at the meeting without saying a word. Perhaps he was composing this release.

Posted by: claude5 | September 26, 2008 11:49 AM | Report abuse

I haven't seen many McCain supporters in the comments of any paper lately - think they have lost heart?

Posted by: knittingnutvi | September 26, 2008 11:49 AM | Report abuse

The McCain campaign has truly lost it! Where are the adult "dudes" in the GOP.

Posted by: protagoras | September 26, 2008 11:49 AM | Report abuse

This is great. Hopefully McCranky will be overtired from all of economy saving miracle working and lose his grip and blow his top on tv. Meanwhile a well-rested and carefully focused Obama will slap him around like a rubber doll. Great TV!

Posted by: AIPACiswar | September 26, 2008 11:48 AM | Report abuse

HUGE loss of face for McCain. No one is fooled.

I'd feel sorry for him, except he did this to himself.

Posted by: ssomo | September 26, 2008 11:48 AM | Report abuse

McCain blinked!

Posted by: lrb100 | September 26, 2008 11:47 AM | Report abuse

"Whew" is right!

Thanks Mr. McCain for parachuting in and resolving the economic crisis singlehandedly, ya knee-jerk, erratic fool.

I hope it will be 50 years before a republican gets as much as a sniff of the White House.

Posted by: jfern03 | September 26, 2008 11:47 AM | Report abuse

There is no fool like an old fool. Without a doubt the most arrogant, idiotic, egomainac Washington has seen since Shrub. Where are his attendents? Give him his meds.

Posted by: COLEBRACKETT | September 26, 2008 11:47 AM | Report abuse

McCain hadn't even read the 3 page proposal before his grandstanding ploy of "suspending" (NOT) his campaign before "rushing" (NOT) to DC from NY on Wednesday. Note that he had time on Wed to be interviewed by Katie Couric and attend a meeting of the Clinton Global Initiative on Thursday morning before "rushing" to DC in time for the Bush command performance where he sat like a lump at one end of the table looking like a grinning fool! I cannot suffer hypocrites - now he can go to the debate because there has been sufficient progress. I think he wants to use this crisis to use as an excuse for his poor showing in the debate tonite. Disgusting!

Posted by: knittingnutvi | September 26, 2008 11:47 AM | Report abuse

Thank goodness we didn't have to take Obama up on his offer to "call him if we need him".
What a joke...McCain could of sent Palin to debate Obama, even she has more exp than he.

Wake up America, he is not the answer, only a token savior by a failing party.

PS. the commercial about McCain's battle with cancer was a new low for liberals. WOW.truly disgusting.

Posted by: blevins20061 | September 26, 2008 11:47 AM | Report abuse

Soooo Presidential........

"Johnny come home, time for your milky and cookies, then it's time for nappy ...

Posted by: yakmon | September 26, 2008 11:46 AM | Report abuse

I'm not sure what just happened. Did McCain back down? Is he admitting that he made a serious mistake. Is he zigzagging back to Mississippi? WHAT IS HE DOING?

Posted by: gandalfthegrey | September 26, 2008 11:46 AM | Report abuse

McCain is horse pucky. This disgusting person is not fit to be president of this country and if his supporters are not fit to live in this country.

Posted by: msreginacomcastnet | September 26, 2008 11:46 AM | Report abuse

The only "familiar spectacle" we saw in Washington was more of the same Rovian politics.

Neocons can now only weep that McCain finally had to "cave-in" to Obama by participating in the debate after the dramatic and failed distraction created by Bush's Rovian thugs controlling McCain and his campaign.

Posted by: coloradodog | September 26, 2008 11:45 AM | Report abuse

OH MY MAVERICK!
YOU ARE THE AMERICAN HERO!
I LOVE THE WAY YOU ARE SUCH A SHINING STAR.
YOU GO MAN!
COWBOY UP!
COWBOY UP!
COWBOY UP!
(Don't forget your manly cologne!)

Posted by: TOMHERE | September 26, 2008 11:45 AM | Report abuse

What a joke. McCain "suspends" his campaign, which had utterly no effect on his politicking activities, shows up in Washington, says nothing at the negotiations, throws a monkey wrench into deal-making, then goes back on his word that he would not debate unless a deal is reached, and decides "nevermind" and heads for the debate. Anybody who would trust this country at this time to such an erratic loose cannon needs to have his head examined even more than McCain does.

Posted by: troutcor | September 26, 2008 11:45 AM | Report abuse

"Americans saw a familiar spectacle in Washington"? The spectacle started when McClown returned to Washington.
Now the drama queen decided to attend the debate.

Posted by: thor2 | September 26, 2008 11:45 AM | Report abuse

My spelling is not so good but let me try.

Flip-Flop, Flip-Flop, Flip-Flop.

Will the PALIN/mccain season never end? Just like the TV show Commander in Chief this campaign is based on, it is time to pull the plug.

Posted by: haymarketbill | September 26, 2008 11:44 AM | Report abuse

Wow what a shocker! Yawn. Anyone with half a brain knew this was the script. Queue Republican talking points. Thank you our savior John McCain.

Posted by: jkn005 | September 26, 2008 11:44 AM | Report abuse

The irony of the statement that McCaine released with the ad stating his having already won the debate just below it in this column is telling. McCaine has demonstrated repeatedly that he has no idea what he is doing and no qualms with spouting divisive lie after divisive lie. Thankfully, Americans have started to catch on. At this point, I think buyer's remorse is setting in on the Republican side. I have to think that all things being equal, Romney would be a stronger opponent for them at this point.

Posted by: JoelB8 | September 26, 2008 11:43 AM | Report abuse

This guy is just unstable.

Think Ross Perot.

Posted by: Jaxxon | September 26, 2008 11:43 AM | Report abuse

Do you think maybe he realized that his stunts aren't working? Now how about a "No Stunt Pledge" for the rest of the campaign. No, wait...

Posted by: GreenRich | September 26, 2008 11:43 AM | Report abuse

*Whew* Good thing McCain suspended his campaign for 24 hours. Otherwise we would have never made as much progress as we have! He truly put his country first today.

Posted by: ManUnitdFan | September 26, 2008 11:41 AM | Report abuse

Peace with honor, John? The helicopters will be leaving the roof of your campaign headquarters soon...

Posted by: kidvidkid | September 26, 2008 11:40 AM | Report abuse

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