it's never good when there's a stalemate and after how well the market looked yesterday, this does not help things. i hope that they are FINALLY able to come to some type of resolution, and like nancy pelosi said - they HAVE to...

i'm not surprised that mccain wants to solve this issue before having a debate, but i guess that just makes obama a bit upset since he's been saying from the get go that this debate should still be on. to be honest, i'm not sure that it makes any difference at this stage in the game.

that has to be scary to find all this out about possible terrorists. at least these men had been watched so that the authorities were able to get involved before anything happened.

Monday, February 28, 2000

"With new polls showing his campaign dead in the water among California Republicans, Arizona Sen. John McCain has pulled out of a long-scheduled debate with Texas Gov. George Bush, set for Thursday in Los Angeles."

...

"The bait and switch on the debate left the Arizona senator -- whose favorite campaign line is ``I'll always tell you the truth'' -- wide open to blistering criticism from his rivals.

'Clearly, this is more double-talk from the McCain campaign,' said Alixe Mattingly, a spokeswoman for Bush."

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2000/02/28/MN62687.DTL&...

I still don't know why the debate needs to be cancelled. All I keep hearing is top committee people saying John McCain does not need to be there. He is not on any finance committees. And I think the debates are going to make a difference. We don't get to see how the two candidates respond in person to the opposition until the debates. The debates are when we hopefully get real insight into what their plans are. They are incredibly important. But with yet another bank failure I am sure it will not go on tonight.

Interesting, Woop...

I feel like so much of the time, what the candidates are REALLY saying is so broken up and edited down by news sources. In the nightly recap, they give you 10 second blips...not informative!
I think that the debates are a very special event where we get to hear the candidates talk for hours about the issues. I think they are very important.

I think that the market did better yesterday because it concluded before the 2nd meeting started. At 1:00 in the afternoon, Dems and Republicans were coming to agreement, especially on points of executive pay caps, returns for the taxpayer, and bipartisan oversight. I think the market will do worse today, because of the divide that the meeting inflamed.

The whole cancellation thing might have started out as a way to make himself look better, but even the diehard Repubs/conservatives I work with (and we're talking DIEHARD here) are calling it a really bad move and some are reconsidering their voting options.

I think the biggest conflict right now, is that the American people do not believe that there will be massive fall out if this is passed. Constituents are calling their representatives expressing unhappiness, but I think it is because they don't understand the amount of jobs that are at stake. Not just wall street jobs, but the restaurants, retail, small business, that fall when their customers loose their jobs.

I believe it is the job of the representatives to explain to their constituents what is at stake if a deal isn't met. I REALLY, really hate the idea of a bailout. However, I have seen far too many economists with ashen faces say that when they look at the numbers, they have NEVER seen anything like this before, and stress that we could have a potential global meltdown.

"Inside an intense White House meeting over the financial crisis on Thursday, where nearly every key player came to an agreement on the outlines of the bailout package, Sen. John McCain stuck out. The Republican candidate, according to sources with direct knowledge, sat quiet through most of the meeting, never offered specifics, and spoke only at the end to raise doubts about the rough compromise that the White House and congressional leaders were nearing.

McCain's reluctance to jump on board the bailout agreement could throw the entire week-long negotiation into a tailspin. Sen. Chris Dodd, after leaving the White House, suggested on CNN that the tenuous process could be derailed by what he viewed as McCain's political motives."

You can still do business in Washington, and then get on the private jet with your name on it and fly to Mississippi! It will cost the state $5.5 Million if they cancel or postpone!

I also think it is kind of odd that he wants to push back the VP debate as well.

I would think it was odd to Jill. Until you look at Sarah Palin's interview with Couric.

"Obama himself did not directly take McCain to task at his post-meeting press avail, but suggested that his methods were not helping the process.

"What I found and I think was confirmed today when you inject presidential politics into delicate negotiations it is not necesary as helpsful as it could be," he said, according to Politico's Carrie Budoff Brown. "When you are not worried about who is getting credit and who is getting blamed you tend to move forward more constructively."

UPDATE: CBS News reports that McCain's alternative proposal includes "fewer regulations and corporate tax breaks"."
http://www.huffingtonpost.com/2008/09/25/at-white-house-mccain-pla_n_129...

Am I disappointed that the debates are / could / might be canceled? Yes, of course.

But I am glad to both Senators involved in this process -- I would hate for the next President to not be involved. So because of this, I do not mind if one debate is canceled.

However, what upsets me is when the debate is postponed under this pretense and then we see candidates doing interviews on television... I don't know.

Jill, I don't think it's odd about the VP debates. I just really don't think they want Palin to ever speak without notes, ever...

I think they are going to try and keep Sarah quiet for as long as they can, at least they probably should. The VP debate is going to be a trainwreck. I don't like Sarah Palin at all but whenever I watch her speak in interviews I feel bad for her a little. She comes off as unintelligent and lacking in complete knowledge on every subject they throw at her. That Couric interview was abysmal, and Couric is not a tough interviewee.

Roarman--Palin's this mystifying (although not very rare) combination of blind ignorance and sure-footed cockiness, IMO. It's pretty shocking and ultimately saddening to me that other people like Romney or even Liberman, whom I'm not a big fan of, missed out on this nomination.

I don't think they need to postpone the debates to be involved, though. And I think things move smoother when they give their imput to the heads of committees that are already involved, and have them impliment it.

As soon as they had the meeting, it became less about the legislation, and more about who was taking credit/fault for what. McCain completely turned it into politics, even while saying he didn't want to. Yesterday before the meeting, Lamar Alexander (R) said that 40 of 49 Republican Senators were on board for the principles that both the Dem and Rep House leaders agreed upon.

Not to mention, McCain isn't suspending appearances on TV, commericals, Palin's doing interviews...so it isn't as if his campaign is even remotely suspended. Their offices are still up and running. It is just a pose. You have to cancel a debate, but you won't cancel Katie Couric?

"combination of blind ignorance and sure-footed cockiness"

That is exactly what Bush has, and it scares me that Ms. Palin has that character trait as well.

Good points, Jill. And yup, that's why those qualities are scary, but not rare as of late, at least.

DJIA is down 41.09, NASDAQ is down 31.66, S&P down 13.59.

Washington Mutual just crashed and burned and now we have the we have "the biggest U.S. American bank failure ever" happening today.

According to NPR's Marketplace:
"Washington Mutual was seized by the government and then WAMU's assets were bought by JPMorgan Chase for $2 billion."

I think that Wall Street is literally holding us hostage. If we don't take measures, they will take us all down with them. Our economy was too dependent on these big companies...but we can't change that now. Shooting ourselves in the foot now will not correct past mistakes. I really HATE the idea of committing that kind of money, but something needs to be done.

Some Republicans are suggesting being an "insurer" for the weak companies...but then we don't get our money back. If they approach this as owning stock, the government could then sell the stock after it rises in value. If you go the insurance route, the money just goes out the window.

I like the idea in the House agreement that the money would be phased in, $250billion, then $100 billion...and the next $350 billion would have to be voted on by congress and could be vetoed by them.

Jill, I think the "suspension" was carried out after the Couric interview, I know McCain cancelled his appearance on Letterman the other day.
As for the debates...I thought I heard Obama or someone from his camp say that he's going to be there regardless of what McCain does. (dont quote me on that) McCain suspending his campaign seems to me like a publicity stunt gone wrong.. and as for the vice presidential debates I think Palin has alot of cramming to do before she can go up against big bad Biden (Love him!)

He did cancel on Letterman...but it is my understanding that it was later that day he went to do the interview with Couric. (Dave was pretty peeved!).

I have heard that if McCain doesn't show, it will be a townhall meeting with Obama.

Letterman stated that McCain told him that he canceling his appearance on his show to rush back to Washington. Instead McCain did an interview with Katie Couric. McCain did not arrive in Washington, DC until early yesterday afternoon.

CNN is reporting the debate is on. More info to follow!

I have a comment about McCain's going to Washington, true, I liked/respected that he went to Capitol Hill.
BUT. I didn't like how impulsive he is. I'm pretty sure that his team was in 'shock' when he said he'd rather 'suspend' his campaign (I disagreed with suspending anyone's campaign).
I even thought it's bad for his campaign, to be completely honest.
And now, look, McCain's going back to the debate now. It just makes it really look bad for him, make him look like a flip-flopper who can't stand being jabbed/criticized by the other party.
I know that his reason was that the Democrats are playing the blame game on him (hard not to think that when Reid basically skewered McCain in his statement this morning), but STILL, if McCain is really serious about staying and working on the bill, he should just stay regardless the jabs from the Dems regarding McCain's decision.
McCain's 'points' in my book has just lessened.
As for Obama, I thought that his way of handling is less impulsive, that's what I like about Obama, he's more calculated about his strategy, more thoughtful, which is great in one way, he probably is a better listener than McCain when it comes to his (campaign) advisors. While it is a great point, it also makes me wonder, what if his advisors aren't the 'best' for the country, will he be able to actually say 'hey, I'm doing 'this' regardless what you guys think.'

It doesn't really matter that he cancelled on Letterman. Letterman is a late night talk show, much like how Obama cancelled being on SNL during the hurricanes. But they still did the news media. it's a different type of show...I'm not saying I agree with it or disagree with it, but, it's a different sort of campaigning when you go on a show to show your "fun side" as the economy is faltering...that I believe was his intent to show that he was taking this serious.

McCain just should have told Letterman that he didn't think it was appropriate to do the Late Show at this time. Simple and honest. Also, I'm annoyed that McCain said he was rushing back to Washington. He stuck around for Clinton's Global Iniative. He has time for that but not for a presidential debate?

"Who's to blame for the fact that we're talking about "ifs"? "At the White House, the gathering turned contentious when House Minority Leader John A. Boehner (R-Ohio) brought up a new set of principles that conservative House Republicans had been laid out earlier in the day," Shear and Weisman report in the Post. "Boehner's move was received poorly by Obama and the other Democrats, who quickly pressed McCain to say whether he supported Boehner's position, according to a detailed account of the meeting. McCain declined to commit, one source said."

"Mr. Boehner pressed an alternative that involved a smaller role for the government, and Mr. McCain, whose support of the deal is critical if fellow Republicans are to sign on, declined to take a stand," per The New York Times' David M. Herszenhorn, Carl Hulse and Sheryl Gay Stolberg. "The talks broke up in angry recriminations, according to accounts provided by a participant and others who were briefed on the session, and were followed by dueling news conferences and interviews rife with partisan finger-pointing."

http://abcnews.go.com/Politics/TheNote/story?id=3105288&page=1

That huffington post article made me lose more and more respect for McCain! I used to be a supporter of his until he started pandering to the extreme right in his party!

UPDATE: CBS News reports that McCain's alternative proposal includes "fewer regulations and corporate tax breaks"."
http://www.huffingtonpost.com/2008/09/25/at-white-house-mccain-pla_n_129...

Fewer regularions and more tax breaks? Come on! Even Paulson said this won't work. He is obviously just trying to inject presidental politics into an already difficult situation. Even anything it seems he is making this worse!

I thought McCain's big campaing point was that he can work bipartisanly! Maybe only when he was a Senator, now that he is running for Pres. it seems like he is a completely different person.

Yeah, fewer regulations and lower tax rates have never lead to a profitable industry. That's for sure.

I'd like to ask John McCain what plan does he support? He has to take a position.

What I don't get is Sen. McCain raising all the hubbub about being there to help sort out the issues and by all accounts he was relatively silent in the meeting. What the heck was that all about?

I think someone plans to do just that tonight, liliblu.

Hypno, exactly. Where does he stand? What does McCain think is the best course of action.

Well...that campaign suspension and trip to Washington sure did turn out to be an unproductive wash, didn't it?

The Republican candidate, according to sources with direct knowledge, sat quiet through most of the meeting, never offered specifics, and spoke only at the end to raise doubts about the rough compromise that the White House and congressional leaders were nearing.

McCain's reluctance to jump on board the bailout agreement could throw the entire week-long negotiation into a tailspin. Sen. Chris Dodd, after leaving the White House, suggested on CNN that the tenuous process could be derailed by what he viewed as McCain's political motives.

"What happened here, basically, if you want an honest appraisal of the thing, we have been spending a lot of time and I am tired. I have spent almost seven straight days at this in trying to come out with a workout plan for our economy a rescue plan," said Dodd. "What this looked like to me was a rescue plan for John McCain for two hours and took us away from the work we are trying to do today. Serious people trying to do serious work to come up with an answer."

According to the source with knowledge of the White House gathering -- which featured both presidential candidates, congressional leaders and the President -- virtually ever key figure in the room, save McCain and GOP Sen. Richard Shelby, were in agreement over a revised version of Treasury Secretary Hank Paulson's plan.

Towards the end, McCain finally spoke up, mentioning a counter-proposal that had been offered by some conservative House Republicans, which would suspend the capital gains tax for two years and provide tax incentives to encourage firms that buy up bad debt. McCain did not discuss specifics of the plan, though, and was non-committal about supporting it."

At White House, McCain Plays Bailout Spoiler

35

Well, whatever McCain's plans are, don't ask Sarah Palin about them.

Yeah after seeing Gov. Palin's Q & A's since she's been chosen it would do her well to pull some all nighters and do some research.

"McCain met with House GOP leaders before heading to the White House, but neither party seemed to know what they were talking about:

Boehner and McCain discussed the bailout plan, but Republican leadership aides described the conversation as somewhat surreal. Neither man was familiar with the details of the proposal being pressed by House conservatives, and up to the moment they departed for the White House yesterday afternoon, neither had seen any description beyond news reports.

At 1:25 p.m., McCain left Boehner’s office through a back door, walking across the Capitol’s rotunda to the applause of tourists. Graham conceded the group knew little about the plan the nominee had come to Washington to try to shape."

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/25/AR200809...

Well, he may not have been much help with the bailout, but "suspending" the campaign and rushing back to Washington sure did take the news focus away from Obama's surge in the polls, you know?

All I know is if they spend an hour arguing over who was being political over this at the debate I'm going to be one pissed off Diva.

Saying Letterman is just a variety show to McCain would hold more water if it wasn't the first forum McCain used to announce he was running for President.

He had a good relationship with Dave.. until he lied to him and said I have to cancel and RUSH back immediately to Washington. Then Dave cut live during his taping to McCain sitting at the CBS set getting his makeup touched up for an interview with Couric and then didn't leave until half way through the next day.

A personal phone call lie to a friend is still a lie.

Dave is the third person I think on record lately to basically say Who the hell is this guy cause it isn't the McCain I have known for all these years.

Ima I'd forgotton that McCain announced he was running for President on Letterman.

Biden VS Palin..come on! That's why they are VP to step in for the President when they are busy!