T Nation

McCain Deals Death Blow to Obama

Either Obama must support a $700 billion dollar bailout of bankers, who all belong in prison, or McCain redoes a better bailout and gets credit.

The lights are out, Barack. McCain is just plain too fucking brilliant. This little punk (Obama) will have to hightail it back to Chicago, to help his bros build more rattrap slums.

Asta la vista, scumbucket.

I wish, but that’s not necessarily the case. I watched that segment on Fox too. Other plays Obama could make:

  1. call out McCain on the floor of the Senate tomorrow and have a debate there that’s unmoderated, giving an impression that he’s doing something. This is extra risky and probably not a good idea for him, but it could in fact play well.

  2. there’s the possibility that if McCain doesn’t show up to the debates tomorrow that Obama will get a free town hall meeting watched by 34 million people. If he plays it well that could be a huge boost to his campaign.

  3. the house reps propose a bill that won’t work and mccain backs it, to his detriment.

Just for the record, Mccain has had not too much to do with this alternate bill, as far as I can tell, except perhaps to keep house reps already in opposition from being steamrolled (IMO they were never in agreement in the first place, as I opine in another thread).

McCain, according to every source, hasn’t done shit.

Except slow the process, which in my opinion is awesome.

[quote]Ren wrote:
McCain, according to every source, hasn’t done shit.

Except slow the process, which in my opinion is awesome. [/quote]

…And gained a LOT of Political Capital…

Mufasa

He should send Palin to the debate while he continues to negotiate a sensible deal for the taxpayer back in Washington.

That would screw with Obama so bad his head would explode.

As the chaos in Washington continues, McCain is on the scene and can give the appearance of gathering facts and putting together a deal. Obama wants to go to Oxford Mississippi and debate foreign policy.

Whoever is running McCain’s show is utterly brilliant, first with Palin and now this move. I suspect the clever hand of Newt Gingrich in here — Newt is far smarter than any of these folks.

Whoever it is, that person has real balls.

Everyone who does not understand economics is blaming the Republicans. That hurts McCain.

Bush is kind of blowing this, and the Democrats are successfully spinning this into a McCain disaster, and regardless of what he does will be represented as getting in the way.

[quote]The Mage wrote:
Everyone who does not understand economics is blaming the Republicans. That hurts McCain.

[/quote]

Quoted for significance.

Think about this. How many people do you (you being anyone reading this) know that really understands this situation? This has the potential to sink the Republicans. Bush helped nothing and no one in his party with these meetings.

The real story for me is why no one is calling for the heads of Barney Frank and Chris Dodd. You know, the government hacks who bear the government’s accountability in all this.

I’ve written my legislators already (although the 2 “R” Senators are RINOs of the greatest magnitude).

I urge everyone to write/call your representatives.

The problem for McCain is that everyone now thinks that he is stalling it for political gain. If it does get passed and he or the republican party claim it was him making deals, then the net effect will be negative to his campaign. He had a window of opportunity to make this strategy work, that window has since closed. If it doesn’t get passed and the commercial paper market continues to dry (this will definitely lead to immediate cost cutting, ie job cuts)then he will carry the burden of having killed the deal. His best options were to actually come to the table with an alternative structure or to have found some point that Sen. Shelby would agree to and show up this morning on CNN with him.

[quote]ajcook99 wrote:
His best options were to actually come to the table with an alternative structure or to have found some point that Sen. Shelby would agree to and show up this morning on CNN with him. [/quote]

That.

If McCain had breezed into the senate and said “What’s all this talk about fucking the American taxpayer out of SEVEN HUNDRED BILLION DOLLARS??? Not on my watch, shitheads! Here’s what’s going to happen…” and then proceeded to come up with an an actual GOOD plan, then he would have probably cinched up the whole race. As it stands the R’s and D’s are arguing over stupid shit like how much oversight is needed, and should the government interfere in corporate payscales and shit. It’s all worthless, and as far as I can tell, McCain isn’t helping at all.

[quote]AynRandLuvr wrote:
Either Obama must support a $700 billion dollar bailout of bankers, who all belong in prison, or McCain redoes a better bailout and gets credit.

The lights are out, Barack. McCain is just plain too fucking brilliant. This little punk (Obama) will have to hightail it back to Chicago, to help his bros build more rattrap slums.

Asta la vista, scumbucket.[/quote]

Try not to get too giddy. It ain’t over till November and that’s when McCain will get trounced.

[quote]MrRezister wrote:
ajcook99 wrote:
His best options were to actually come to the table with an alternative structure or to have found some point that Sen. Shelby would agree to and show up this morning on CNN with him.

That.

If McCain had breezed into the senate and said “What’s all this talk about fucking the American taxpayer out of SEVEN HUNDRED BILLION DOLLARS??? Not on my watch, shitheads! Here’s what’s going to happen…” and then proceeded to come up with an an actual GOOD plan, then he would have probably cinched up the whole race. As it stands the R’s and D’s are arguing over stupid shit like how much oversight is needed, and should the government interfere in corporate payscales and shit. It’s all worthless, and as far as I can tell, McCain isn’t helping at all.

[/quote]

In my estimation, a real leader would have gotten on the horn with Buffet, Bill Gross of PIMCO, someone at CALPERS and someone at the Harvard Foundation and asked how can we structure this deal so that you’ll put some money into it? Then taken that deal with lets say $40Billion or so from these sources and gone to Washington and said,“Look you jaw jabbering bunch of grandstanding morons, I just negotiated a deal with private money so that America knows someone has some damn skin in the game and thinks this is a good trade. They don’t profit unless the US Taxpayer profits. Do you think you can sell that? Now go back to your grandstanding and ass-talk on the tv and I’ll go to the debate and fix another issue.”

But then again…this is America and all politics is about talk and not actually solving anything.

[quote]MrRezister wrote:
ajcook99 wrote:
His best options were to actually come to the table with an alternative structure or to have found some point that Sen. Shelby would agree to and show up this morning on CNN with him.

That.

If McCain had breezed into the senate and said “What’s all this talk about fucking the American taxpayer out of SEVEN HUNDRED BILLION DOLLARS??? Not on my watch, shitheads! Here’s what’s going to happen…” and then proceeded to come up with an an actual GOOD plan, then he would have probably cinched up the whole race. As it stands the R’s and D’s are arguing over stupid shit like how much oversight is needed, and should the government interfere in corporate payscales and shit. It’s all worthless, and as far as I can tell, McCain isn’t helping at all.

[/quote]

I don’t know that riding ino town and putting together a bailout plan in a matter of hours would be a good thing for this country.

Arguing over how much oversight is needed is a very good thing.

I can’t stand the notion that this thing needs to be done now. Where were these worthless fucks before it got this bad? It’s going to cost the taxpayers $700B because these worthless pieces of shit wait until the last minute?

Fuck that. Fuck Barney “hershey highway” Frank, and Chris Dodd. They should be strung up and gutted like the feral hogs they are.

[quote]rainjack wrote:

Fuck that. Fuck Barney “hershey highway” Frank, and Chris Dodd. They should be strung up and gutted like the feral hogs they are.

[/quote]

That’s the drum I’m pounding. Barney “Stick it in my pooper” Frank needs to be strung up by his balls (although he may enjoy that).

Just more food for thought about ‘accountability’ and how history may help future decisions:

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080924

[i]
One of the most frequently asked questions about the subprime market meltdown and housing crisis is: How did the government get so deeply involved in the housing market?

The answer is: President Clinton wanted it that way.

Fannie Mae (FNM) and Freddie Mac, (FRE) even into the early 1990s, weren’t the juggernauts they’d later be.

While President Carter in 1977 signed the Community Reinvestment Act, which pushed Fannie and Freddie to aggressively lend to minority communities, it was Clinton who supercharged the process. After entering office in 1993, he extensively rewrote Fannie’s and Freddie’s rules.

In so doing, he turned the two quasi-private, mortgage-funding firms into a semi-nationalized monopoly that dispensed cash to markets, made loans to large Democratic voting blocs and handed favors, jobs and money to political allies. This potent mix led inevitably to corruption and the Fannie-Freddie collapse.

Despite warnings of trouble at Fannie and Freddie, in 1994 Clinton unveiled his National Homeownership Strategy, which broadened the CRA in ways Congress never intended.

more…
[/i]

[quote]rainjack wrote:
MrRezister wrote:
ajcook99 wrote:
His best options were to actually come to the table with an alternative structure or to have found some point that Sen. Shelby would agree to and show up this morning on CNN with him.

That.

If McCain had breezed into the senate and said “What’s all this talk about fucking the American taxpayer out of SEVEN HUNDRED BILLION DOLLARS??? Not on my watch, shitheads! Here’s what’s going to happen…” and then proceeded to come up with an an actual GOOD plan, then he would have probably cinched up the whole race. As it stands the R’s and D’s are arguing over stupid shit like how much oversight is needed, and should the government interfere in corporate payscales and shit. It’s all worthless, and as far as I can tell, McCain isn’t helping at all.

I don’t know that riding ino town and putting together a bailout plan in a matter of hours would be a good thing for this country.

Arguing over how much oversight is needed is a very good thing.

I can’t stand the notion that this thing needs to be done now. Where were these worthless fucks before it got this bad? It’s going to cost the taxpayers $700B because these worthless pieces of shit wait until the last minute?

Fuck that. Fuck Barney “hershey highway” Frank, and Chris Dodd. They should be strung up and gutted like the feral hogs they are.

[/quote]

No shit!

Haste makes waste takes on a whole new eye popping meaning in this case.

Frank and Dodd are receiving their usual campaign of disinformation from the media.

The Republicans are not blameless in this, but it was socialistic democrat policies all throughout the Clinton years that made this possible.

Even this was available, but is long forgotten.

Interesting analysis, particularly about the Deomcrats need for cover.

We’ll have to see what Madam Speaker Botox has to say this morning.

September 26, 2008
McCain leads, Obama follows

The neat thing about a presidential race between two Senators is that voters can make direct comparisons between the candidates that otherwise are not possible. This year, the comparisons work in John McCain’s favor.

McCain pushed for the “surge” in Iraq. Obama opposed it, saying it wouldn’t work. When it worked, Obama said he knew it would work, but defended his vote anyway.

Two years ago, McCain warned that Fannie Mae and Freddy Mac were in serious need of reform and he so-sponsored legislation to reform it. Obama did not support this legislation, which the Democrats blocked. Obama was near the top of the list of recipients of contributions from Fannie Mae and Freddy Mac, and two executives from these outfits were among his campaign advisors.

McCain also had the right line on the Russian invasion of Georgia (though this was not a legislative issue). As Rudy Giuliani recounted at the Republican Convention, Obama waffled for a while and eventually adopted McCain’s view. McCain led; Obama followed

Most recently, McCain figured out that he needed to get back to Washington to engage, and if possible provide leadership in, the momentous issue of the financial sector bailout. While McCain opted to help make something happen, Obama said he could be reached by phone if anything did happen.

Obama’s position was untenable, so he eventually followed McCain back to Washington.

Hoping to cover for their “follower” of a presidential candidate, Democrats are claiming that McCain has done more harm than good in the legislative debate. Although this is always a possibility with McCain (and, indeed, just about anyone who is willing to lead), the Democrats’ case is absurd.

Their argument is that Congress was on the verge of a deal until McCain entered the picture and caused Republican House members to block it. The problems with this script are several. First, there is no evidence that House Republicans were ever on board with any deal. Second, the support of House Republicans is not needed to pass bailout legislation. The Democrats control the House.

The Democrats counter the second point by saying that a majority of House Dems won’t support a deal unless House Republicans provide “cover.” But this argument raises more questions than it answers. First, it is a serious condemnation of House Dems (too gutless to do what they think is right, even in the face of a potential economic meltdown). Second it is a serious condemnation of Nancy Pelosi (too ineffective to whip her troops into line even in the face of a potential economic meltdown). Third, it casts serious doubt on the wisdom of the deal that McCain is falsely accused of scuttling. If the deal made sense, House Dems wouldn’t believe they need “cover” from House Republicans.

Fourth, the “cover” argument shows what a non-factor Obama is in all of this. The Dems complain (preposterously) that McCain has riled up House Republicans or failed to bring them around. Meanwhile, no one seems to be asking why Obama hasn’t helped the House leadership obtain sufficient support from House Dems.

There’s a reason why this question isn’t being asked. Obama is lightweight from whom leadership is not, and should not, be expected.

www.powerlineblog.com

[quote]SteelyD wrote:
The Mage wrote:
Everyone who does not understand economics is blaming the Republicans. That hurts McCain.

Quoted for significance.

Think about this. How many people do you (you being anyone reading this) know that really understands this situation? This has the potential to sink the Republicans. Bush helped nothing and no one in his party with these meetings.

[/quote]

Seeing as the overwhelming majority is against the bailout, I don’t see this hurting the republicans. The appearance is that the Dems are just going along with the Bush administration while the Republicans are genuinely concerned about the long term implications and are proposing an alternate. True or not this is the appearance.

This will kill the whole “Bushes 3rd term” claim and makes the Dems out to be idiots. Bush “tricked” them into Iraq and they have nothing but contempt for him, and blame him for the stumbling econonmy. But here they stand again, ready to take orders from his administration. This does not help their do-nothing flock of sheep image.

The funny thing is they are completely helpless here with absolutly no political capital. They start getting smart, they’ll get wacked back down with calls for investigations on the events that led to this mess. They definately don’t want that.

I hate to say this but the political manuvering has be more captivated than the actual impending doom. Even in the face a so called financial catastrophy, both sides are still playing politics as usual.

I’d like to take this opportunity to point out that Harry Reid is an insect.

I have scrubbed things off the sole of my shoe of greater dignity and intrinsic value than Harry Reid.

He just gave a presser in which he blamed this entire debacle on under regulation at the hands of the GOP and went so far as to say that John Mccain’s presence in DC is THE defining hindrance without which the country would be saved by the democrats and “serious minded republicans” who are ready to go along with illegal unconstitutional bailout.

Dodd was characteristically pusillanimous as usual himself.

Isn’t Obama up in all the big polls?