McCain's Brilliant Play: Bets Presidency on Blocking Bailout Deal

[debbierlus]

That is the title of the article, I thought I would post it because it explains this whole crazy ploy:

http://finance.yahoo.com/tech-ticker/article/73110/McCain's-Brilliant-Play-Bets-Presidency-on-Blocking-Bailout-Deal?tickers=

John McCain roared into Washington yesterday and reportedly broke up an agreement on the bailout deal. In doing so, he went against not only Democrats but the Republican president, the panicked Republican Treasury Secretary and Fed Chairman, and Republican Congressional leaders. Instead, he sided with a small band of outraged Republicans grousing about violation of free-market principles.

So was this idiotic McCain self-destruction, as most people are suggesting? Or was it a brilliant populist move?

We think the latter.

Americans hate the Hanke-Panke plan, which they accurately view as a bailout of the financial-services companies and executives that helped get us into this mess. Some Americans are so angry, in fact, that for now they'd rather see "this sucker go down" -- as Bush put yesterday, referring to the U.S. economy -- than support a financial-services bailout. By aligning himself with a small band of Republicans who are refusing to go along with the Hanke-Panke plan, McCain not only appears to be standing up for this outrage but is reinforcing his desired image as a maverick.

Given the ongoing crisis in the credit markets, a bailout plan will likely be struck today or Monday -- whether McCain plays ball or not. Assuming this happens, McCain will:

Take credit for brokering a compromise (assuming the final deal is palatable to Americans)
Crow that he was the candidate who tried to stand up against the bailout of Wall Street fat-cats
Note every five minutes in the next six weeks that the enormous sop to Wall Street hasn't saved anything (if the bailout works, it won't work until long after the election is over)
Blast President Bush, who everyone hates anyway, thus reinforcing his "change" message
Say he's the only guy with the balls and experience necessary to deal with this crisis.
And on the off chance that a deal doesn't go through in the next couple of days, McCain can just rail about the outrage of the Democrats' desire to bail out Wall Street at the expense of Main Street and say he's the only one standing up for the little guy.

In our opinion, this was a brilliant political play (and we're voting for Obama). If only it were likely to lead to a better bailout plan.

(What's a better bailout plan? One that injected equity into the banks -- or, better yet, converted debt to equity -- thus penalizing banks for their stupidity, not taxpayers, and actually accomplishing the desired recapitalization).

....................

This bail-out is an out and out set up and scam. It is a trap, and it is disgusting. The Republicans threaten Financial Armageddon and then, when the dems try to work out something out of fear of what will happen (if they don't act), McCrazy can come in and state that NO NO NO - let's privatize this whole thing and not put the public at risk (of course, it will be a total sell-out to the Saudis & a complete screwing of American - but man, GREAT TALKING POINTS...McCain the Maverick rides again....McCain won't let Main Street Bailout Wall Street...Then, he will put in play the real Bush plan that they were planning on all along. Selling America to the Saudis.

Of additional note, they have been slipping in MAJOR NEWS STORIES that aren't getting ANY coverage such as Cheneys Plame testimony becoming classified, 25 billion dollar 'loan' to the auto industry, Conflict on the Ground between US & Pakistan - including a shoot out of a US drone helicopter out of the sky, Condi Rice being in on torture meetings, and so many more. They are coming so fast and furious, frankly, I can't keep up and I am a junkie. Planned Chaos.

Obama needs to stand up and call them out on this tonight. He needs to reveal that this plan was concocted over months and sat on. And, it is the ultimate scam. Tell them democrats are not going to play this game, and that the Republicans have lost any integrity they might have salvaged by playing this head game with the American people.

If he does this, he will win this election.

[David Dunham]

1. No. Poll today shows 70% of the people support the bailout.

[debbierlus]

4. Yes, that is their plan - read this little quote from Lindsey Graham

McCain's leadership in the negotiations "is to try to stop us from yelling at each other, announcing deals that don't exist, to actually talk to the House and the Senate and get agreement and then go to the press," Sen. Lindsey Graham, R-S.C., said on NBC's "Today" show.

http://biz.yahoo.com/ap/080926/financial_meltdown.html

If you read this article, it explains how the Republicans are trying to manuever this bail-out so they can be the ANTI-BUSH.

It is a 700 billion trap. It is a scam. And, it has been in planning for MONTHS.

MONTHS.

[izzybeans]

7. Which poll. The Polls are all over the place on this one.

The highest I've seen is 57% with as low as 25% support. Each poll has wildly different numbers. And the congressional offices are buzzing with negative phone calls.

[Renew Deal]

19. It's the mystery poll that right wingers are quoting.

Still haven't seen it.

[Alhena]

2. His problem is the Dems run the show in Congress

Pelosi and Reid will make sure the good guys come out of this looking ok.

[BattyDem]

3. The only problem is that he said ...

he was suspending his campaign and canceling the debate because he needed to go back to Washington and get the bailout deal passed. He even said he wouldn't do the debate unless a deal was reached.

So ... now he's the guy against the bailout after saying how urgent it was that a deal was made?!? :shrug: :eyes:

[debbierlus]

5. The fact that the dems even allowed the Republicans to run on OUR issues

It is clear is day. Read this link:

http://biz.yahoo.com/ap/080926/financial_meltdown.html

THIS IS WHAT THEY ARE SAYING:

Sen. Richard Shelby, an Alabama Republican who appeared on the same show, said many GOP lawmakers dislike the proposal that has been pushed on the administration's behalf principally by Treasury Secretary Henry Paulson.

"Basically, I believe the Paulson proposal is badly structured," Shelby said. "It does nothing basically for the stressed mortgage payer. It does a lot for three or four or five banks . ... "

SEE? They are setting it up to be the ones that protect America from Bush. THEY ARE SAYING IT.

And, here is another little nugget:

McCain's leadership in the negotiations "is to try to stop us from yelling at each other, announcing deals that don't exist, to actually talk to the House and the Senate and get agreement and then go to the press," Sen. Lindsey Graham, R-S.C., said on NBC's "Today" show.

AGAIN, it is a set up for McCain to lead the Republicans in revolt against Bush.

[msallied]

12. The thing is, the ploy FAILED!

No one believed that this was anything more than a political stunt! The Democrats have nothing to fear here!

[BattyDem]

"It is a set up for McCain to lead the Republicans in revolt against Bush"

But that's the problem. McCain is not leading a revolt against Bush. He hasn't offered any amendments to the current bill or any plans for a new bill. He hasn't challenged Bush or Paulson. He hasn't provided any insight or leadership. He sat at the table in the WH yesterday and said nothing! That's already been reported.

McCain said that a bailout was urgent. So urgent, that he "suspended" his campaign and urged Obama to do the same. Now he's going to take credit for leading a revolt and blocking a bailout ... without even offering an alternative? We all know they're going to try and give McCain the credit for whatever happens, but it's not going to be easy. Other than his little stunt, he has not said one word about what needs to be done or how to get it done.

He overplayed his hand. He failed.

edited: typo :blush:

[KittyWampus]

6. linking his fate with the most Conservative House Republicans is brilliant?

that's not being "maverick". It's being a tool of the most corporate-friendly elements.

[debbierlus]

11. Have you forgotten the last 7 1/2 years - it is TALKING POINTS and controlling them

Look, I am not saying this is going to work. I am simply stating that they are TELLING US this is there plan. It is clear as day.

The only question is how the democrats will throw this back in their face.

They have said no McCain support in a yea vote, no deal. The dems need to state publicly that this is a political mind game that the Republicans are playing with the American people, and they are no longer playing. They are bringing in a independent team of financial experts to consult with Congress, and stop this NONSENSE now.

[jacksonian]

8. but the idiot McClown didn't stop there

he threatened to back out of the debates if there wasn't a solution.

Creating a "coward McCain" drama that has completely drowned out the "hero McCain" script, he completely overshot his goal.

Not to mention that other little lacking detail - his campaign is completely devoid of better ideas on this or any subject - McCain's all for talking about the little guys but not for explaining just how he's going to help. And every time the situation comes round to explaining anything, like the convention, we get more stunts.

Expect a LOT of BS tonight, they've got to keep up the misdirection. The worst run campaign in US history.

[debbierlus]

14. I agree with you. However, I am just passing on their ploy.

http://biz.yahoo.com/ap/080926/financial_meltdown.html

When I read the above article, it became crystal clear that this was their tactic. And, I think it actually could stand a chance of working, however, McCain & Palin can't sell it.

[WeDidIt]

9. I've been saying ever since McCain "suspended" his campaign

The Democrats need to declare defeat on the bail out bill, explain that John McCain killed any possibility of a deal, and adjourn Congress until after the election.

Game.

Set.

Match.

A lot of people will get hurt, but that's obviously what McCain wants.

[msallied]

10. And that's exactly what happened too.

McCain lost this battle big time.

[tritsofme]

16. Would you be surprised if Bush reacted by forcing Congress to stay in session

into October if there is no resolution?

I wouldn't put it past him.

[Hippo_Tron]

13. People aren't going to vote for McSame if the financial system collapses...

And millions of people see their savings and retirement money disappear.

[iceman66]

15. All the more reason for the Dems to play hardball!

[BattyDem]

17. Oops! GOP Whip just threw Johnny under the bus!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7199112

Don't worry. It will all work out. McCain pissed off too many people this time - on both sides of the aisle. There's always a chance that he'll pull it off and come out looking great in the end, but that chance is diminishing as time goes on. :-)

[debbierlus]

18. You don't get it. He wasn't thrown under the bus. HE STOPPED THE DEAL

What they are trying to do is simple...

They are going to run AGAINST the bailout.

[BattyDem]

20. He can't run against the bailout ...

after suspending his campaign to go to Washington and make the bailout happen!

"We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy," he said. "If we do not act, ever corner of our country will be impacted. We cannot allow this to happen."

Those are McCain's own words. He can't run against something that he felt was so damn important, he had to "suspend" his campaign in order to get a bill passed! He'll look like a bigger idiot than he already does. I'm sure the original intention was to make him look like a hero, but he failed. Obama didn't take the bait and nobody bothered to get the House Republicans in line with McCain. The whole thing blew up in his face!

Of course, the GOP is going to try to salvage this mess and make McCain look like a hero ... but he's already said we need the bailout, so unless he announces a different position during the debate, it won't work. Even if he does publicly change his position tonight, he's still going to look like a fool who doesn't know what to do because two days ago, he said a bailout was urgent. Which is it? Urgently needed or a legislative disaster?

He overplayed his hand. He completely miscalculated this one.

The GOP usually finds a way to pull it off, but their party is split right now ... which has a lot to do with the failure of the "Let's make McCain the hero" plan. It's going to be very tough for them to make McCain look good on this one.