Article

2008-09-24 Home Front: Politix

McCain: Scrap Friday Debate for Bailout; Obama Camp: 'The Debate is On'

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by GolfBravoUSMC 2008-09-24 15:45|| || Front Page|| [1 views ] Top

#1 Senior advisor Mark Salter then interjected saying, He hasnt said that to Paulson or to Reid or to anybody else. He hasnt said that to me.

strange that Harry Reid would say such a thing. That would make him a ...liar.

Posted by Frank G">Frank G 2008-09-24 16:03|| 2008-09-24 16:03|| Front Page Top

#2 I'd like to see the "debate" go ahead with just Obama there, talking to himself. That would be about as useful as having him in Washington voting "present".

Posted by Darrell 2008-09-24 16:09|| 2008-09-24 16:09|| Front Page Top

#3 Excellent - McCain is now going to support this handout plan just as he supported the amnesty plan. I cant believe hes pulling this kind of stunt in the middle of a presidential election campaign. Why does he persist in doing un-conservative things? Is he daring conservatives not to vote for him?

Posted by Zhang Fei 2008-09-24 16:19|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-09-24 16:19|| Front Page Top

#4 Calling a 'time out' to 'ice the quarterback'?

Posted by Mullah Richard 2008-09-24 16:26|| 2008-09-24 16:26|| Front Page Top

#5 ZF, precisely where does it say that McCain is supporting this thing? Based on his previous remarks over the week, I don't think he does.

I could care less right now about the election. He's a senator, he should be there in Washington dealing with this mess instead of giving the same canned speech over and over again, and so should Obama. (I'm betting he won't, mainly because it will put a crimp in his fundraising.)

Posted by Cornsilk Blondie 2008-09-24 16:29|| 2008-09-24 16:29|| Front Page Top

#6 Just my two-cents -- McCain hasn't said yes to the plan:

top advisers said the Republican presidential candidate has not committed to voting for the massive financial bailout plan proposed by the Bush administration, with aides saying he will reserve final judgment until there is a final product.

Plus, today McCain discusses bailout deal with Romney, CEOs

Flanking McCain were former Massachusetts Gov. Mitt Romney, his one-time rival for the GOP presidential nomination, and former eBay CEO Meg Whitman. Others in the meeting were John Chambers, CEO of Cisco Systems, and John Thain, the CEO of Merrill Lynch before it was acquired by Bank of America earlier this month for a much-reduced value.

In addition, he states 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.

One other thought -- talk about distancing himself from Bush: Bush is going prime-time tonight, pushing for the bailout; McCain steps on center-stage today and grabbed the limelight, doing just the opposite of what Bush is doing, proving he's not Bush III.

Posted by Sherry">Sherry 2008-09-24 16:37|| 2008-09-24 16:37|| Front Page Top

#7 I'm sure there's already a crimp in Candidate Obama's fund raising, Cornsilk Blondie. I saw a picture of a rally he held recently; more than half the seats were empty, at a location McCain and Palin had filled a few days before.

Posted by trailing wife ">trailing wife 2008-09-24 16:40|| 2008-09-24 16:40|| Front Page Top

#8 One other thought -- I sure hope Romney banged McCain on the head, and laid out a to-do plan for him. McCain's plans, the "let's get together and talk about it," haven't always given us what we want. Usually, much more than we want!

Posted by Sherry">Sherry 2008-09-24 16:45|| 2008-09-24 16:45|| Front Page Top

#9 ZF, precisely where does it say that McCain is supporting this thing? Based on his previous remarks over the week, I don't think he does.

He just did an about face. The right plan would be no plan - i.e. let the market sort it out. The fact that he supports any plan means he's not interested in letting the market work.

I hope the handout package fails anyway. Its a real boat anchor for him, when you consider that the handout plan as envisioned requires the purchase of toxic waste assets from financial institutions (a category now broadened to include companies like IBM, GE and H&R Block) at a significant premium to what they would fetch today based on the fanciful idea that government officials have a better (in my view inflated) idea of what theyre worth than prevailing market prices. This is the biggest non-entitlement-related boondoggle in American history. Even if he wins the election, the fallout from this massive handout - due to massive portfolio losses resulting from paying too much for toxic waste assets - will make him a one-term president.

Posted by Zhang Fei 2008-09-24 17:14|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-09-24 17:14|| Front Page Top

#10 Look back at where all the bad loans came from. They came from Clinton pushing for looser restrictions on home loans for people that could not qualify under a conventional loan. He proposed it. Congress made it into law. The financial houses made the sh*t loans. The loans went into default. Now Congress and the current president are trying to bail out bad policy that was made into law.

The same people who absolutely created the problem are the same people that caused the problem. God help and protect us from these incompetents, thieves, and parasites.

Posted by Alaska Paul 2008-09-24 17:33|| 2008-09-24 17:33|| Front Page Top

#11 Last paragraph correction:

The same people who absolutely created the problem are the same people that are going to solve the problem. God help and protect us from these incompetents, thieves, and parasites.

Posted by Alaska Paul 2008-09-24 17:34|| 2008-09-24 17:34|| Front Page Top

#12 ZF, going back to Washington to do the job Arizona elected him to do is not an about face (he's still their senior senator, in case you forgot). Sorry, but voting "present" on this one just ain't good enough.

Posted by Cornsilk Blondie 2008-09-24 17:47|| 2008-09-24 17:47|| Front Page Top

#13 Heading off the possible collapse of our economy trumps all other activities. Just staying in contact with Reid and Pelosi by phone is not leadership.

I wonder if Obama's wife was in critical condition and could possibly die, would he continue the campaign and stay in touch with the doctors? Perhaps he would after giving the doctors his four main talking points on what her treatment should be to cure her.

Posted by GolfBravoUSMC 2008-09-24 18:00|| 2008-09-24 18:00|| Front Page Top

#14 Isn't the bailout really needed to avoid A Great Depression II? I mean, the government will eventually have to spend big dollars in any kind of echo-FDR plan anyway. I say, best to avoid it NOW while we can. The Dems seem to be pushing to not pass it, which makes me really suspicious.

Other thoughts?

Posted by ex-lib 2008-09-24 18:42|| 2008-09-24 18:42|| Front Page Top

#15 McCain could still surprise everyone by coming out against the bailout & opposing Bush. The Treasury & Fed can still take control of the insolvent banks (which is probably most of them), as they are already required to do, & provide relief for the ensuing credit crunch directly.

Posted by Anguper Hupomosing9418 2008-09-24 19:08|| 2008-09-24 19:08|| Front Page Top

#16 I suspect Anguper's is a VERY likely scenario. Appears the crooks on the hill may be mod'ing the... terms of reference from "bail out" which isn't selling well in Peoria, to something more palatable like "rescue plan." New deck chair arrangement, same flooded engine room.

The proposal by Sen. Chris (VIP Countrywide)Dodd, D-Conn., the Banking Committee chairman, would give the government broad power to buy up virtually any kind of bad asset including credit card debt or car loans from any ~~of the folks~~ financial institution in the U.S. or abroad in order to stabilize markets.

If this drags on more than a week or so, it will get much worse by design as "the folks" decide to forgoe their already delinquent Sept and pending Oct/Nov house, credit card, or Escalade payments in anticipation of a potential entitlement windfall.

Posted by Besoeker 2008-09-24 19:24|| 2008-09-24 19:24|| Front Page Top

23:50 KBK
23:43 trailing wife
23:36 FOTSGreg
23:35 CrazyFool
23:32 trailing wife
23:25 bigjim-ky
23:22 trailing wife
23:19 Sonny Glusoque3834
23:15 FOTSGreg
23:02 Flitch the Imposter aka Broadhead6
23:01 Flitch the Imposter aka Broadhead6
22:55 Angie Schultz
22:53 Ptah
22:36 Frank G
22:20 plainslow
22:12 djh_usmc
22:03 DMFD
21:59 Skunky Glins 5***
21:57 OldSpook
21:56 OldSpook
21:55 Skunky Glins 5***
21:54 jeremy
21:54 Skunky Glins 5***
21:52 Abdominal Snowman