Thursday editorial: Patriot games
The presidential campaign and the Wall Street financial crisis collided Wednesday. What resulted played at times like a cheesy political movie.
The unprecedented cascade of bizarre events almost upstaged a nationally televised effort by President George W. Bush to convince a skeptical nation that nothing less than “preserving America’s overall economy” rides on the passage of the administration’s $700 billion Wall Street bailout plan.
Mr. Bush’s speech clearly was aimed at the two-thirds of Americans whom polls show either doubt the wisdom of the administration’s plan or are opposed to it, based on details that remain in flux.
The president gave a forceful, if necessarily abbreviated, explanation of the crisis. Had he delivered this speech last Friday when he introduced the plan, he might have muted some of the criticism of it. Still, there was no mistaking the gravity of his words.
“We are in the midst of a serious financial crisis,” Mr. Bush said, noting that banks have restricted lending, credit markets have frozen and businesses and families can’t afford to borrow.
“The market is not functioning properly. There is a widespread loss of confidence,” he said. “America could slip into a widespread financial panic.”
Mr. Bush acknowledged that his initial plan, little more than a three-page outline when Congress first saw it last week, has been improved with provisions for a bipartisan oversight panel, taxpayer ownership participation and limits on payouts to executives of failed financial institutions. His speech should go a long way toward building bipartisan support for the plan — and public support as well.
So will his decision, announced shortly before the speech aired, to invite both presidential candidates, Republican Sen. John McCain of Arizona and Democratic Sen. Barack Obama of Illinois, to a meeting today with congressional leaders to discuss details of the rescue plan.
By including Mr. Obama, the president played along with part of Mr. McCain’s effort to position himself as an economic savior willing to lay politics aside at time of crisis.
Mr. Obama had begun the day’s extraordinary events by calling Mr. McCain to suggest they issue a joint statement on the bailout plan. By the time Mr. McCain returned the call, he had decided to up the ante by suspending his campaign activities and returning to Washington, if not on a white horse, at least as a crusading bipartisan consensus builder.
The Arizona senator even went so far as to suggest postponing the first presidential debate scheduled for Friday evening.
Bemused, Mr. Obama said he thought the debate should go on as scheduled, although he pledged to return to Washington if necessary. By the time the joint statement was issued, Mr. Obama had recaptured the advantage by amending it with a five-point plan that Mr. McCain refused to sign.
Democrats in Congress accused Mr. McCain of grandstanding in the face of polls in which voters give Mr. Obama higher marks on handling the economy. “It’s the longest Hail Mary pass in the history of either football or Marys,” said Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee.
Of course, the debate should take place as scheduled, unless by some odd confluence of events it would conflict with a final Senate vote on the bailout plan. Since Democrats control the Senate schedule, that’s not likely.
Mr. McCain’s gambit was the oldest of ploys, an attempt to gain political advantage by pretending to forswear politics. That Mr. Obama wouldn’t play along comes as no surprise. That Mr. Bush asserted a strong leadership role and gracefully accepted Democratic suggestions for improving the bailout plan, was the surprise, and it underscores just how serious the financial crisis is.
That George W. Bush could demonstrate to John McCain what real bipartisan leadership looks like is at once a pleasant surprise — and a major disappointment.
(Pictured: President Bush poses for photographers after delivering a prime-time speech from the White House on the ailing financial markets, Wednesday, Sept. 24, 2008, in Washington. AP Photo/Lawrence Jackson)
People should be so sick of these Republicans and their games.
McCain placing the country first, NO, NO, NO, not at all in the least.
McCain is only placing his campaign first!
Bush and his regime can’t leave Washington soon enough for this country and the world!
Let’s just not allow any of this sect to remain via the AVOIDER AND DODGE PLAYER, John McCain and the CRASH COURSE FOREIGN RELATIONS STUDY, Sarah Palin.
There is no reason under the sun why the debate on Friday should HAVE TO be cancelled!
What the heck could “NO UNDERSTANDING OF ECONOMICS” John McCain do anyway?
Hey, let him prove me wrong at the debate on Friday! Lets hear what he thinks should be done in detail and see if he is HAS THE mind AND INTELLECT AND is a strong enough leader to convince anyone in Washington over the weekend.
Let McCain show us his understanding of economics before all the other brains come express their views.
We know that Obama has one and is ready, what is it, does McCain want to hear and copy Obama’s thoughts as he has already stolen every thought of Obama’s that he has been able to, including “CHANGE”.
Debate must go on! They can be in Washington over the entire weekend because they will all still be there trying to pan out this BAIL-OUT.
D-, what is The Chosen One’s plan? HE waited until others had taken a position, then polled it, to come up with a plan, thats not leadership, thats politics.
Obama was right in not wishing to go back to Washington, he is out of his league working on big, bi-partisan legislation (hell, he is out of his league working on any legislation). He has NO record of being able to work across the aisle. Even Dingy Harry said this cant be done without McCain.
As far as the debate, I think it should be pushed if the bailout isnt done. I think the reason the McCain camp wanted it pushed was to allow McCain to make up the prep time he will lose by returning to Washington to do his job while The Chosen One does debate prep. Now with Barry being called back to Washington also, it levels the playing field again, so get the bailout done and get on with the debate so we can see McCain hand Barry his butt.
> Mr. McCain’s gambit was the oldest of ploys, an attempt to gain
> political advantage by pretending to forswear politics.
Last time I checked, that ploy was the underlying premise of Obama’s entire campaign.
> That George W. Bush could demonstrate to John McCain what real
> bipartisan leadership looks like is at once a pleasant surprise —
> and a major disappointment.
What a surprise … for years, the leftists in the media hail McCain as a maverick and bi-partisan leader, and deride Bush for partisanship, cronyism, and outright stupidity. But now that Bush is a lame duck and McCain is running for President, suddenly Bush is bipartisan and a leader, while McCain is neither.
Si,
McCain can save the day in Washington after the debates on Friday then all campaigning can cease until it is panned out!
Why is he still in New York making campaign appearances and other planned appearances today.
Funny how Pres Bush, who the Post constantly reminds us is the stupidest man on the planet and the lamest of lame ducks, consistenly makes Democrats look like idiots. McCain is doing the same thing. That wasn’t bemusement coming from Obama. It was befuddlement. Obama wants to run the executive branch starting in January. Yet right when the country needs leadership and congress is working feverishly on policy that will affect the executive branch for the next several, he doesn’t think his current position as a senator is important enough to take part in those negotiations. Here’s what Obama said yesterday:
“As I said before, I think that one of the things we have to determine is how we can be most helpful. It’s my sense that the most helpful thing we can do right now is, uh, to let everyone know this is a sufficiently important problem. I can be helpful, and I am prepared to be anywhere, anytime. So, uh, I think the message is, if I can be helpful, I am prepared to be there at any point.”
Issuing press statements where you in effect admit your useless isn’t a particularly good way to promote leadership skills. God help us if this clown gets elected.
Go_Fish,
It is the very way McCain handled this that SHOWS HIS POOR AND PATHETIC LEADERSHIP ABILITIES! And will be the very reason he will do nothing more than contribute chaos and politics into the picture in Washington.
He has disgraced himself with all his unnecessary LIES. He is reminding me of the adulterer he claims to be his PAST. And adulterers are the most pathetic LIARS!
If you think for one second that the way McCain handled this showed good leadership then you are as blind and lost as the rest of them! It’s ALL about MCCAIN’S politics!
The Republicans are perishing because of their ignorance all the way up from the White House down to their little blind sheep followers in our world but, the sad truth is that they have caused it to rain on ALL no matter how brilliant and wise one is.
This is a great example why you should never allow ignorant, greedy, NOT SO SMART people to lead you because they will only LEAD YOU INTO A PIT!
D. Walker:
“There is no reason under the sun why the debate on Friday should HAVE TO be cancelled!
What the heck could “NO UNDERSTANDING OF ECONOMICS” John McCain do anyway?
Hey, let him prove me wrong at the debate on Friday! Lets hear what he thinks should be done in detail and see if he is HAS THE mind AND INTELLECT AND is a strong enough leader to convince anyone in Washington over the weekend.”
The debate’s topic Friday night is Foreign Policy, and to my knowledge, you are the only person in the US that will be looking for financial details.
So Obama has no terrorist connections?
http://gatewaypundit.blogspot.com/2008/09/top-obama-bundler-code-pink-co-founder.html
Go_Fish,
What should creep you out more is your Party but, then you are too blinded to see that they are creepy and NOT SO SMART!
I suppose that we will never see eye to eye. I guess that is what makes the world so diverse. I just hope there are more here in this country who can see eye to eye with me than you.(lol).
Just what is it that McCain needs to do that requires him to physically be in DC? Does he plan to wrestle with dissenters and make them cry “Uncle”? Can’t he just make some phone calls and continue to juggle more than one glass ball?
Or, why doesn’t he send the experienced governor from Alaska to DC so that she can use her economic expertise and negotiation skills to gain approval of the bailout?
Probably doesn’t matter, I’m hearing that an agreement has already been reached and McCain didn’t have to wrestle anybody after all.
Here is the latest statement from The Chosen One:
(AP — Chicago) In response to questions concerning Senator John McCain’s announcement that he was suspending his presidential campaign and returning to Washington D.C. to help form legislation to deal with the financial crisis, Senator Barack Obama proclaimed that he would continue campaigning and would appear for the debate on Friday in Mississippi whether Senator McCain showed up or not. He explained, “Look, I have zero practical experience in economics or the national legislative process. My only accomplishment as a U.S. Senator has been to get nominated for a different job. Besides, and more importantly, I’ve already FedEx’d my teleprompter to Biloxi. What am I going to do, stand mute on the floor of the Senate waiting for someone to feed me lines about hope and change? I don’t think so.”
SVPPB (Vegetus was wrong and is still wrong) -
Nice try at prevarication. That was McCain’s quote he is upset he cannot have his teleprompter on the Senate floor so Rick Davis can feed him his lines.
I heard Caribou Barbie wouldn’t let McCain go to Washington until she got her weekly allowances for glasses, haircare, makeup and clothes, along with three consultants and stylists to get it right for her! I mean a woman of her stature can’t have too many $3,000 jackets and $600 glasses can she?
Shhesh, she’s spent about $200,00.00 on all this stuff! That’s 4X the median family income in the US last year!
Are all the politicans, peabrain American consumers and financial experts STUPID? All this will do is provide more money for the STUPID AMERICAN PEOPLE to send to Korea, Japan, Viet Nam, Communist China, etc etc. Please, someone explain to me how this will help THE US ECONOMY, by the stupid consumers sending their money overseas!!! Why are none of the experts pointing out that the consumers are getting the kind of economy they deserve? Until the consumer starts buying American and leaving the Communist Chinese, Korean etc etc products on the shelves our economy will not turn around. The only activity that CREATES wealth in a nation is manufacturing.
“A CENTRIST” while I understand that you either have a very limited appreciation of just how the world works or you are assuming that the rest of have such a limited perspective, you can’t really expect anyone with a functioning brain to believe that that link you posted is proof positive that Obama has a direct connection to anyone listed in those articles.
Just because someone collects and gives money to a candidate does not mean that that candidate endorses their position. Using your logic, feeble as it is, Bush and Bush/McCain are Nazis and leading proponents of Alaska leaving the Union.
By the way, Alaska was purchased with tax money from Russia. Of all the states, it has the least right to leave the Union. Palin’s “daddy” might want that to make a little money for himself, but the Federal government and by extension the taxpayers have first right of refusal.
How did you enjoy Palin’s expansive explanation on her “vast” foriegn policy experience, particularly her dealings with Russia. I didn’t realize being a neighbor qualified you as an expert on foriegn affairs. Mabe that’s where Bush is having his problems with the Russians, he’s listening to her.
McCain Blinks - He’s going to Mississippi
http://www.chicagotribune.com/news/politics/sns-ap-candidates-debate,0,1384728.story