Posted on 09/26/2008 9:42:51 AM PDT by Candor7
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).
Something happened in that meeting yesyerday... McCain saw what when down, and is going to the debate, because he knows which button to push to make Barry-O lose it. Let us all pray he is successful.
Liberals, once again CANNOT think past the immediate, temporary and personal.
Some things never change.
Something happened in that meeting yesyerday... McCain saw what when down, and is going to the debate, because he knows which button to push to make Barry-O lose it. Let us all pray he is successful.
Bingo!
McCain is right it is time to start fighting the evil Demorats.
Compassionate Conservatism Is Dead!!!!!
Explain something to me - Wayne Hage used to say that the federal government took ownership of the public lands and eliminated split estate interests to perfect collateral for our {inter]national debt. In this deal, it would seem that the US would end up owning some paper on our private mortgages. Will this be a sort of collateral ballast to offset our growing huge national debt?
The dumboRATs fiddle while our country burns.
Sickening......
“The Hanke-Panke Plan”
Love it!
Note to author - Paulsen is a democrat
Great angle to this story. But, it will only work if the McCain campaign and surrogates play it out this way and ALL OF THEM stay on the same page on this.
So far, I have seen little evidence that ‘our side’ is taking it to the people with the true situation.
McCain broke up nothing; there was nothing to break up. I just wrote this on another thread, it bears repeating here: the reason this POS plan didn't sail through yesterday is due to the fact that no one bothered to get any House Republicans on board. Why is that important, when there is a majority of Dems in the House? Because they are all up for re-election in little more than a month, the folks back home are burning down the phone lines telling them not to vote for the Paulson plan. They remember what happened to reps who voted against the wishes of their constituents, ie., Marjorie Margolies-Mezvinsky, who let Clinton con her into being the tie-breaking vote for his first budget, and Dave McCurdy, who let Clinton talk him into voting for his crime bill. They both lost their seats.
There are not enough House Dems willing to risk it and they need the Republicans for cover votes, it's as simple as that.
Note to author - Paulsen is a democrat
Correction, Paulsen is an Obama Democrat who kneels in subjugation before uberliberal Nancy Pelosi.
If I had a mortgage ( Which I do not, we paid ours off a year ago) that was packaged to the Fannies, I would be refininacing for a strictly in house mortgage with a bank that has most of its assets outside the USA, like Barclay's or say one of the clean US three ( Wells Fargo etc.), even if it meant a higher interest rate, 30 year fixed.
I would be on that like a dog on the bone.
People need to get as far away from these socialists as possible. I still invest in US stocks, but through an off shore investment bank. Like many Americans now, I have no money in US banks, nor any money in country where the US dollar can quickly be converted to a more stable currency. I had my "bank run" a year ago. Of course I still pay US taxes and always will, but the socialists will never have anything to say about my money and how it is invested, either directly or indirectly through any market manipulation, including this bail out.
Anyone can do that. It just takes a little work.
There are three US banks that are clean. Wells Fargo is one. I forget who the two others are. I had no way of knowing that a year ago, or I would have went with them.
Just goes to show that ZeroBama has Zero leadership abilities. Without his teleprompter, tied into George Soros’ microphone of course, ZeroBama cannot even speak a complete, cogent sentence.
Think again FRiend. I do not know the details of what happened in the White House cabinet room. What I do know is that Obama would not have been there TO BLOW IT if McCain had not gone off his campaign. ( Obama was supposed to tie McCAin up and keep him busy outside of Washington, he failed). Harry Reid was in an absolute tizzy that McCain showed up, like a pedophile caught in a kids bedroom with his pants down. What a bunch of sick crooks he and Barney Franks are.
Whatever. McCain is the spoiler here, and I wish him and his Conservative Group every success at ending the ACORN/ LAZAR socialist boondoggle move to convert our economy to community service rather than profit.
I think in this case the heroes of the bailout block are others in Congress. I think it was a decision made by the rank and file before McCain hit town, and that he was the follower and not the leader in this. But he did have the good sense to join in and take the stand.
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