[Updated] McCain suspends campaign to work on economy

[Illuminatus Primus]

Anyone else licking their chops for the poll numbers over the next week?

[Superman]

Anyone else licking their chops for the poll numbers over the next week?

His numbers have been sliding for a few days now. I can't wait to see this next one... and I can't wait to hear Howard Stern dish out a nice verbal shredding to McCaine tomorrow morning too.

[Guardsman Bass]

I think I might actually say a prayer that Obama will have the sense to turn the tables on McCain, and say "Yeah, I'll put it aside while we go and do Serious Business in Washington - but I'm sending Biden to the debate on friday, and I expect Palin to be there. I trust Biden to represent my positions, and to stand in for me, blah, blah, blah".

Can you imagine the reaction? The McCain campaign would be saying "No! No! NO!!" but what could they do? Suddenly, all that criticism about Palin's media dodging, her lack of preparedness, would driven home.

[Guardsman Bass]

Anyone else licking their chops for the poll numbers over the next week?

I imagine it would depend on how this little idea on McCain's part plays out. Assuming he still goes through with the debate, he might be able to at least hold on to his current poll numbers (or simply maintain the current state of decline) by getting plenty of nice photo-shots of him doing business for his base.

[SirNitram]

I think I might actually say a prayer that Obama will have the sense to turn the tables on McCain, and say "Yeah, I'll put it aside while we go and do Serious Business in Washington - but I'm sending Biden to the debate on friday, and I expect Palin to be there. I trust Biden to represent my positions, and to stand in for me, blah, blah, blah".

Can you imagine the reaction? The McCain campaign would be saying "No! No! NO!!" but what could they do? Suddenly, all that criticism about Palin's media dodging, her lack of preparedness, would driven home.

I prefer Obama being there Friday until end of session, hopping a plane, and being on time for the debate. And making a big show of seeing McCain in the Senate when he left.

On the poll front: McCain may well be toast is this weakens his support any further. Pollster has him down to 169 EVs, Obama's up to 212, with 157 up in the air. Thus I remind everyone of the Motivational Poster of Obama: Chill The Fuck Out. I got this.

[Phantasee]

I think I might actually say a prayer that Obama will have the sense to turn the tables on McCain, and say "Yeah, I'll put it aside while we go and do Serious Business in Washington - but I'm sending Biden to the debate on friday, and I expect Palin to be there. I trust Biden to represent my positions, and to stand in for me, blah, blah, blah".

Can you imagine the reaction? The McCain campaign would be saying "No! No! NO!!" but what could they do? Suddenly, all that criticism about Palin's media dodging, her lack of preparedness, would driven home.

Biden, as a Senator, also has an excuse to not be there, but Palin has nothing, since she's a Governor, and Alaska isn't very important when it comes to "fixing Wall Street."

[Guardsman Bass]

I think I might actually say a prayer that Obama will have the sense to turn the tables on McCain, and say "Yeah, I'll put it aside while we go and do Serious Business in Washington - but I'm sending Biden to the debate on friday, and I expect Palin to be there. I trust Biden to represent my positions, and to stand in for me, blah, blah, blah".

Can you imagine the reaction? The McCain campaign would be saying "No! No! NO!!" but what could they do? Suddenly, all that criticism about Palin's media dodging, her lack of preparedness, would driven home.

Biden, as a Senator, also has an excuse to not be there, but Palin has nothing, since she's a Governor, and Alaska isn't very important when it comes to "fixing Wall Street."

I know, and it's unlikely. Still . . .

[Chris OFarrell]

It may be too soon to say, maybe too prematurely hopeful, but I think the Gimp/Barbie ticket may have lost the election tonight.

Only IMO if he really hammers his advantage right now, show up at the debate without McCain (he CAN'T back out of his choice to stay away now, McCain has to play this through) and have the 'moderator' go hardball on him, really put Obama through it and have him shine for several prime time hours answering the questions with detail and directness.

Millions of people are going to tune in for the novelty of it alone FFS, McCain has just given the stage to Obama.

[Fire Fly]

So I take it that its this kind of behavior that resulted in the GOP trying to suffocate this campaign in 2000 and during the primary of 2008? The guy is certainly a maverick alright, erratic and unpredictable.

There's an article with a part of it in the NYT suggesting that he didn't spend much time practicing for the debate.

The debate on Friday was to focus on Mr. McCain’s perceived strength, foreign policy. Mr. McCain had not planned to devote large blocks of time to debate practice as did Mr. Obama, who was holing up with a tight circle of advisers at a hotel in Clearwater, Fla., on Wednesday, Thursday and Friday to prepare. Mr. McCain had a preparatory session on Wednesday afternoon at the Morgan Library in Manhattan, but advisers said it had been interrupted by his decision, announced immediately afterward, to suspend his campaign.

[Joe Momma]

I really can't believe it. Does he think David Letterman gets uh, less exposure than his canned campaign announcements, or the dispatches sent out by his handlers?

He obviously respected Letterman's exposure at one point, since it was on the Letterman show that McCain first publicly announced his current run for the presidency. You can even see that clip as the first "related video" in the Youtube link Sir Nitram posted for the current Letterman clip.

Between McCain running scared from a debate on what was at least in theory his strongest point vs. Obama and Palin humiliating herself with Katie Couric, this has been an abso-fuckin'-lutely delicious newsday for schadenfreude (which helps mask my horror at these clownshoes being the best one that one of the dominant political parties of my country can come up with -- Jesus, I can see why conspiracy theorists think the Rs are deliberately tanking this election).

[Surlethe]

The WSJ excoriated McCain in today's editorial:

Last we checked, the President of the United States was still George W. Bush, the Secretary of the Treasury was still Henry Paulson, the Chairman of the Federal Reserve was still Ben Bernanke, and Congress still had 533 members not running for President who are at least nominally competent to debate and pass legislation.

So count us as mystified by Senator John McCain's decision yesterday to suspend his campaign and call for a postponement in Friday's first Presidential debate so that he and Barack Obama can work out a consensus bill to stabilize the financial system. This is supposed to be evidence of leadership?

Mr. McCain's decision follows an equally odd suggestion from Mr. Obama yesterday morning that the two candidates issue a joint statement of principles and conditions for the financial rescue package. As a purely political matter, we understand why Mr. Obama would just as soon say "present" on a tricky Senate vote. He probably figures the current economic mess plays into his argument for "change," so why not minimize any differences with Mr. McCain on the Paulson plan as he heads to Election Day?

We also understand Mr. McCain's desire to further dress his campaign in "Country First" gilding, as if patriotism and consensus are one and the same, or that getting something done is more important than getting it right.

Whatever the motive, this is not what the country expects from its Presidential candidates. The Administration and the Congress have a responsibility to negotiate legislation, and we can only hope it isn't carbuncled to a point that makes it impossible for Treasury to hold a decent mortgage-backed securities auction, or allow markets to clear. As Senators, Messrs. Obama and McCain also have a responsibility to give us their up-or-down verdict on the bill as it emerges. If they have specific differences or suggestions, they certainly have a large megaphone to broadcast them.

As candidates, however, they are not serving the public by hiding behind a fog of faux bipartisanship that obscures their core economic principles and their approach to governance in times of crisis. Far from being an issue that is above electoral politics, the financial panic is too serious not to have a serious discussion about. President Bush gave both candidates a hand last night by inviting them to a White House meeting on the legislation today, but this looks more like political theater than it does actual governing. Both candidates are angling to get some credit for being in on the deal, whatever it might be.

Nor does it stanch a panic when Mr. McCain issues a statement warning that "I do not believe that the plan on the table will pass as it currently stands, and we are running out of time," or comparing the current situation to September 11. No plan passes without going through Congressional hazing, if not modification, and predicting doom does nothing to reassure Americans that our political system is able to manage amid turmoil.

Mr. Obama was right on the merits, and politically shrewd, to respond to Mr. McCain's suggestion to postpone Friday's debate by saying that "Presidents are going to have to deal with more than one thing at a time. It's not necessary for us to think that we can only do one thing and suspend everything else." He added that he planned to be at the debate.

The behavior of both candidates has an air of running for political cover. Neither of them need master the subtleties of credit default swaps and mortgage-backed securities in time for their debates. But it would be reassuring to know that they are at least capable of holding, and sticking to, a coherent position on what is now the most important issue of the campaign. When one of them becomes President, he won't have the luxury of pressing the "pause" button at the next crisis.

[General Zod]

Obama will make it a Townhall meeting if McSame doesn't show.

Barack Obama is committed to hosting a public, televised event Friday night in Mississippi even if John McCain does not show up, an official close to the Obama campaign tells the Huffington Post.

In McCain's absence, the Senator is willing to make the scheduled debate a townhall meeting, a one-on-one interview with NewsHour's Jim Lehrer, or the combination of the two, the official said.

Such a course of action could make life incredibly difficult for McCain, who has called for the suspension of the debate in light of the current economic crisis. Should he stay in Washington D.C. -- if a bailout is not completed by then -- and let Obama alone reach tens of millions of television viewers?

A lot, of course, depends upon what the debate commission decides to do. At this point in time, there is no indication that they are going to postpone the affair, as the McCain campaign has asked.

Separately, on Thursday, Obama himself said he was intending to go to Oxford, Miss for the scheduled debate and called on McCain to be there with him.

"The American people deserve to hear directly from myself and Sen. McCain about how we intend to lead our country," Obama said. "The times are too serious to put our campaign on hold, or to ignore the full range of issues that the next president will face."

Meanwhile, Mississippi Gov. Haley Barbour said on Thursday that he expected the debate to go forward as planned.

Hilarious. McSame's damned if he does, damned if he doesn't.

[RedImperator]

McCain never said he would pull out of the debate, full stop, he said he would pull out if there wasn't a bailout by Friday night.There's going to be a bailout vote today or tomorrow, and barring a major revolt by both parties' backbenchers, it will pass. I would be stunned if McCain doesn't show up tomorrow night. All in all, I think this whole circus will be forgotten by next week; I'm not anticipating a major boost for Obama's numbers because of it.

[The Kernel]

McCain never said he would pull out of the debate, full stop, he said he would pull out if there wasn't a bailout by Friday night.There's going to be a bailout vote today or tomorrow, and barring a major revolt by both parties' backbenchers, it will pass. I would be stunned if McCain doesn't show up tomorrow night. All in all, I think this whole circus will be forgotten by next week; I'm not anticipating a major boost for Obama's numbers because of it.

What makes you think that the vote will be completed by tomorrow? According to everything I've been hearing, the vote in the house is still totally uncertain and they are looking at Sunday at best to have a crack at finishing it up. The Senate seems to be better off, but there's still a lot of debate going on.

That said, I'm pretty sure McCain will find an excuse to show up.

[The Kernel]

Well, that's what I get for not checking the headlines often enough. I guess Congress actually managed to get these problems sorted.

[Tribun]

Well, that's what I get for not checking the headlines often enough. I guess Congress actually managed to get these problems sorted.

Do you think McCain will try to say that it all was his idea?

[The Kernel]

Well, that's what I get for not checking the headlines often enough. I guess Congress actually managed to get these problems sorted.

Do you think McCain will try to say that it all was his idea?

He'd have to walk over Chris Dodd's dead corpse to do it.

[18-Till-I-Die]

So lets sum up the situation for everyone who came late:

McCain wants to clal off one of the debates, supposedly (frankly i can give the benefit of the doubt here) because he thinks for whatever reason he needs to help the bailout thingy get pushed through.

But...

It's already mostly done so he probably wont pull out, also Obama told McCain to eat a dick and if he doesn't show up Obama will anyway.


Got it?

[RedImperator]

Well, that's what I get for not checking the headlines often enough. I guess Congress actually managed to get these problems sorted.

Boehner was claiming about an hour ago that the House Republicans still aren't on board; he's probably gunning for more pork for his people by claiming his backbenchers won't play ball unless the Senate and the White House sprinkle in more goodies for them, but other than that, it seems like it will go through. I would predict, with all sides claiming there's an "outline" everyone agrees upon, even if the bill isn't done by Friday night, McCain will claim it's good enough and go to the debate.

Frankly, I think even if the bailout collapses in a smoking heap tonight and the Dow hemorrhages a thousand points tomorrow, McCain would still go to the debate. Obama called his bluff, and McCain just can't let him have 90 minutes to himself on every network tomorrow night. McCain will be on that stage tomorrow night even if Steve Schmidt has to drag him up there by his ears.

[SirNitram]

The last sticking point appears to be judge's altering mortgage agreements. The bill will also make only 250B availiable immediately.

[Falkenhayn]

We have an "agreement in principle". This article was 4 minutes old when I copy/pasted.
MSNBC

Lawmakers: Deal on Wall Street rescue reached
Dodd, Frank: Agreement in principle, expect passage of bill within days
BREAKING NEWS
The Associated Press
updated 3:06 p.m. ET, Thurs., Sept. 25, 2008

WASHINGTON - Key Republicans and Democrats reported agreement Thursday on an outline for a historic $700 billion bailout of the financial industry, but there was still resistance from rank-and-file House Republicans despite warnings of an impending panic.

“I now expect we will, indeed, have a plan that can pass the House, pass the Senate, be signed by the president and bring a sense of certainty to this crisis that is sill roiling in the market,” Sen. Bob Bennett, R-Utah, said as members of both parties emerged from a two-hour negotiating session.

Negotiators planned to present the outline at a White House meeting later Thursday with President Bush and the rivals to replace him, Republican John McCain and Democrat Barrack Obama.

“We’re very confident that we can act expeditiously,” said Sen. Chris Dodd, D-Conn., the Banking Committee chairman.

Not everyone in the closed-door talks was as optimistic. Rep. Spencer Bachus of Alabama, the only House Republican in the bargaining meeting, stopped short of saying he agreed with the other lawmakers on an imminent deal.

“There was progress today,” said Bachus, the senior Republican on the House Financial Services panel.

Later, he issued a statement saying he was not empowered to strike any deals and there was “no agreement other than to continue discussions.”

Both houses’ Republican leaders, Rep. John Boehner and Sen. Mitch McConnell, also issued statements saying there was no agreement.

Still, the White House called the announcement “a good sign that progress is being made.”

“We’ll want to hear from (Treasury) Secretary (Henry) Paulson and take a look at the details. We look forward to a good discussion at the meeting this afternoon,” said Tony Fratto, the deputy White House press secretary.

A Treasury spokeswoman said the proposal was being reviewed there.

On Wall Street, stock prices were up late in the trading day, but not by as much as earlier in the day.

The core of the plan proposed by the administration just a few days ago envisions the government buying up sour assets of shaky financial firms in a bid to keep them from going under and to stave off a potentially severe recession.

Obama and McCain called for a bipartisan effort to deal with the crisis, little more than five weeks before national elections in which the economy has emerged as the dominant theme.

McCain on Wednesday asked Obama to agree to delay their first debate, scheduled for Friday, to deal with the meltdown. Obama said the debate should go ahead.

Congressional negotiators said Thursday there were few obstacles to a final agreement, although no details of an accord were immediately available.

“There really isn’t much of a deadlock to break,” said Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee.

But there were fresh signs of trouble in the House Republican Caucus. A group of GOP lawmakers circulated an alternative designed to attract private money back into the credit markets with less government intrusion.

Under that proposal, the government would provide insurance to companies that agree to hold frozen assets, rather than purchase them directly as envisioned under the administration’s plan. The firms would have to pay insurance premiums to the Treasury Department for the coverage.

“The taxpayers haven’t done anything wrong,” said Rep Eric Cantor, R-Va., adding that rather than require them to bear the cost of the bailout, the alternative “pretty much puts the burden on Wall Street over time.”

Boehner, R-Ohio, the minority leader, was huddling with McCain on the rescue. When asked whether the GOP presidential nominee could corral restive Republicans to support the plan, Boehner said, “Who knows?”


Bush told the nation in a televised address Wednesday night that passage of the package his administration has proposed was urgently needed to calm the markets and restore confidence in the reeling financial system.

House Speaker Nancy Pelosi, D-Calif., said Bush’s agreement with Democrats on limiting pay for executives of bailed-out financial institutions and giving taxpayers an equity stake in the companies cleared a significant hurdle.

It was not immediately clear how lawmakers had resolved differences over how to phase in the unprecedented cost — a step demanded by Democrats and some Republicans who want stronger congressional control over the bailout — without spooking markets. The idea of letting the government take an ownership stake in troubled companies as part of the rescue, rather than just buying bad debt, also has been a topic of intense negotiation.

Frank told The Associated Press Thursday both elements would be included in the legislation.


Bush acknowledged Wednesday night that the bailout would be a “tough vote” for lawmakers. But he said failing to approve it would risk dire consequences for the economy and most Americans.

“Our entire economy is in danger,” he said

[Einhander Sn0m4n]

Youtube Link: Link

Warning: Contains pandering over what a hero McCain is.

...Holy shit. McCain just committed political suicide. Letterman may really be sounding like a pompous ass by saying he's the tollkeeper for the road to Casablanca, but he's right. McCain didn't pay Letterman the toll, he Shall Not Pass.

[RedImperator]

Youtube Link: Link

Warning: Contains pandering over what a hero McCain is.

...Holy shit. McCain just committed political suicide. Letterman may really be sounding like a pompous ass by saying he's the tollkeeper for the road to Casablanca, but he's right. McCain didn't pay Letterman the toll, he Shall Not Pass.

I hate to break it to you, but David Letterman is not some kind of kingmaker who can single-handedly determine who gets into the White House and who doesn't.

[18-Till-I-Die]

Who even watches Letterman?

He's fucking horrible, he makes Conan O'Brien look like Richard Pryor.

I mean some of his fucking jokes are not even possible to follow through logically. Like this one "Top Ten" i saw on MSNBC, How Bush Can Fix The Economy:

#1--Is Hillary still available for that 3am phone call?


Uh, wut? Not even LOL wut, just...wut? The fuck does that even mean? Is he implying Bush is makinga drunk dial to Clinton? Why call her, why not Obama, fuck if he had said that it would at least be somewhat logical. I mean really.




But hey at least he's not Sara Silverman.

[Imperial Overlord]

Letterman isn't important, but he is a right winger. McCain through away a chance to get a hand job and soft balls that would make him look good in front of millions and instead gets roasts. It's certainly a squandered opportunity, even if it's not that important.