Where to start…. I guess you heard by now that John “Deregulation at Any Cost” McCain wants out of Friday’s debate, right? It’s absolutely amazing. He says he needs time to focus on the economy, so he can’t debate Obama on foreign relations, which was to be the subject of their first televised event. He’s trying to spin it as “patriotic” – that he’s selflessly taking time away from his campaign to help save the U.S. from a depression – but it’s obvious that he’s just scared shitless of being on TV with Obama. Every time he opens his mouth to talk about economics, his polling numbers drop. His best bet now, and he knows it, is to just follow Palin’s lead and hide from the press until election day.
Speaking of Palin, who has talked with only one reporter since being introduced as McCain’s running-mate a month ago, it seems as though the “National Enquirer” isn’t about to let up on her alledged affair with her husband’s old “snow machine” buddy. According to the magazine’s website, they now have signed afidavits backed up by polygraph tests. But that’s probably the least of McCain’s worries right now, as the press coverage intensifies around America’s financial meltdown.
Word on the Hill is that he may have to fire his campaign manager, Rick Davis over all of this, as he was, until last month, on the Freddie Mac lobbying payroll to the tune of $15k a month – something that McCain either wasn’t aware of yesterday, or lied to the press about. It’s hard to imagine that things could go much worse for McCain, but losing the man running his campaign in the final stretch may be the straw that broke the old maverick’s back.
Thankfully, the Democrats didn’t give in immediately when Secretary of the Treasury Hank Paulson asked for $700 billion free and clear of any oversight in order to “take care of” the fiscal crisis. Paulson and other administration appointees warned that a global depression was iminent if we didn’t take immediate action, but it looks as though that wasn’t the case. It’s been a few days now, and the world doesn’t seem to have ended.
Something is happening, though. The has FBI is launching a probe into possible criminal activities on Wall Street.
Most Democrats acknowledge that a bailout in some form has to happen. It’s just a matter at this point of how much, and how it’s structured.
Paulson initially balked when Democrats, like Barney Frank, had the audicity to suggest that a bailout not include multi-million dollar pay-outs for his Wall Street friends – the corporate executives who brought this situation about in the first place. (Paulson, it’s worth noting, was paid $38m in salary, shares and options when he was Chairman and CEO of Goldman Sachs, prior to joining the Treasury.) Fortunately, the Dems showed a little backbone, and didn’t immediately hand over the keys to our Nation’s Treasury. They were quick to bring the country’s attention to the golden parachutes that Paulson wanted to fund for his well-heeled cronies. It bought them time. And now they’re getting more into the details. Yesterday, Represnetative Peter DeFazio (D-Oregon) floated the idea that, if we the people put up the money to rescue these failing institutions, then we the people should get equity in said companies so that we might share in the prosperity when things are good. (This assumes of course that we experience good times again.) It’s apparently not that crazy of a suggestion either. According to the “New York Times” today, Sweden did just that in 1992, and it’s worked out well for them.
The bottom line is that we shouldn’t give a blank check to anyone in this administration ever again, and, if we do bail these institutions out, we should make damned sure that we get the best deal possible for the American people (i.e. not paying above market value for trash).
In other related news, it seems that it’s not just polar bears resorting to canibalism these days. No, Republicans are eating their own as well. It’s amazing what environmental change can cause to happen, isn’t it?
Oh, and for what it’s worth bin Laden has declared victory today, saying that he’s now successfully bankrupted the U.S. just like he’d done the Soviet Union.
And – this just in – McCain not only backed out of Friday’s debate, but tonight’s Letterman Show. Here’s an advance peak:
“What Are You Going To Do If You’re Elected And Things Get Tough? Suspend Being President?” -David Letterman
The good news is, Letterman got Olberman to sit in at the last minute. It should be good.
21 Comments
No debate on Friday? Complete meltdown actually a possibility? WTF?????????????????
We can always move to Canada.
Okay, this all smells like a dead skunk to me. I am so pissed that the main stream news is kinda brushing off the fact that The Obama campaign called the McCain campaign first and ask John to put out a joint statement about working together.
And just now all the cable channels covered John McCain speaking at the Clinton Global Initiative and he is totally campaigning and his speak is all about “his plan”. WTF? Why would Clinton allow this?
We are losing control of our voices as citizens and we all better find away to get the government to really start listening to us.
“Hey John, I got a question: You need a ride to the airport?!”
Priceless.
Asked how they came up with the $700 billion figure, Paulson’s spokesperson responded to Forbes, “We just wanted to choose a really large number”.
http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_0923bailout.html
If we allow this to happen, we are fools.
Okay, McCain was all about economics and very political speaking to the Clinton GI, Obama spoke later and was a little political, but moved on quickly. I still say WTF…how can McCain have time to speak anywhere? It blows.
The campaign has not been suspended. He just doesn’t want to debate.
McCain doesn’t want to get his ass handed to him to the debates – period. He’s not prepared. Obama said that the debates should go on because a president should be able to handle multiple things at the same time. How long will this debate take? Two, three hours? McCain can’t take a few hours out of his day to sit down and discuss foreign policy? Is McCain saying that foreign policy has nothing to do with the economic crisis in the US? McCain wants to suspend his campaign? Would McCain suspend his presidency if an issue like this came up? This is a crazy, crazy move from someone running for president – and it should scare the sh– out of anyone who is a McCain supporter.
Enough is enough with these bullsh– politics – can we please get some dignity and order restored? If McCain doesn’t want to debate, then I say we nominate Obama right now by acclimation and let him take office tomorrow. This is no time for games – this has me seriously pissed off right now. Millions of Americans were looking forward to hearing about the issues from the candidates. It’s important! We deserve better. I want change now. I work too hard and have too much at stake to have my tax money go towards this silly nonsense.
The freep reported that McCain did not show up in Washington until MIDDAY today.
Dear MoveOn member,
In just days, a massive public outcry has forced a serious debate about the Bush-Paulson bailout. Congress is now negotiating with the White House over the terms of the bailout—there are members of Congress who are trying to put help for regular Americans ahead of help for Wall Street.
But Congress is facing mounting pressure from President Bush, an army of Wall Street lobbyists, and the topsy-turvy stock market to rush through a blank check for $700,000,000,000. There’s a real risk that they’ll agree to water down the protections we need.
A deal could be reached as soon as today, and we need to turn the pressure up. Can you call Senator Debbie Stabenow and Senator Carl Levin and Representative John Dingell and tell them to take the time to get this right and put Main Street before Wall Street?
Here’s where to call:
Senator Debbie Stabenow
Phone: 202-224-4822
Senator Carl Levin
Phone: 202-224-6221
Representative John Dingell
Phone: 202-225-4071
Then, please report your call by clicking here:
http://pol.moveon.org/call?tg=FSMI_2.FSMI_1.FHMI_15&cp_id=819&id=14033-8917750-1hmy9_x&t=3
Why do we need Congress to take the time to get this right? Because according to Forbes, the Treasury Department admits the $700 billion price tag is “not based on any particular data point. We just wanted to choose a really large number.”1
Deal’s already been reached, MovingOn.
I truly don’t wish anyone harm, but wouldn’t it be great to wake up tomorrow morning and find that all of these Wall Street CEOs had been suffocated by golden parachutes?
So if there’s a deal now, does that mean that McCain can debate?!!!
What a joke. Of course McCain’s bullshit about suspending his campaign is just a stunt. Anyone who buys his line of crap is dumber than a rock. First of all, McCain injecting himself into the bailout negotiation process is only going to politicize it and assure that nothing gets done. Second, I see he didn’t even contribute to the discussion. He just sat there looking concerned for the photo op. Now, I’m seeing on the news that he HAS left Washington even though he said he wouldn’t until a deal was made. He was obviously just looking to drop in and take credit for anything that might have gotten done. Now, thanks to his stupid campaign stunt, nothing got accomplished in the meeting today. What a complete dick!
What a total showboater.
Letterman Part 2:
http://www.huffingtonpost.com/2008/09/25/letterman-attacks-mccain_n_129467.html
Then when he did finally get to DC, he didn’t do much. People at the White House meeting say he “sat quiet through most of the meeting, never offered specifics”.
http://www.huffingtonpost.com/2008/09/25/at-white-house-mccain-pla_n_129438.html
A McCain worker this morning on NPR claimed that he didn’t say anything because he wants to bring the parties together and that he will support whatever they decide on. I fail to see how sitting back and doing nothing is helping to fix anything. Obama doesn’t have much to stand on here either. I am most suspicious at how desperate the supporters are treating this like a used car salesman “If you don’t buy it now, you won’t be able to get this blah blah” The immediacy makes me most suspicious. I am sure that economists have thought this through and I’m positive the situation is more complex than we know or understand, but it seems that the right has shown their true “conservative” colors here. Between this and the Iraq war, we’re going to be paying for decades.
McCain has agreed to debate. Bring it on!
McCain “didn’t say anything because he wants to bring the parties together and that he will support whatever they decide on.” That’s hilarious! I love it.
McCain isn’t just IN the debate. He WON it!
http://www.huffingtonpost.com/2008/09/26/ex-adviser-mccain-blinked_n_129611.html
Tonight’s debate between Obama and McCain: the prodigy vs. the pipsqueak.
It’s a mistake to underestimate McCain in this debate. Bush won the debates in the popular mind because of one liners as did Reagan before him. McCain’s a bit smarter than both of them. I think it’s a mistake to think that Obama has automatically won.