I think that was Dick Morris, and he was right that it was a chance for McCain to show some leadership. Morris was apparently for the bailout, and said "McCain will go in and break the deadlock, and get the bailout passed, and get all the credit for showing leadership".
However, all McCain did was stand around and show no leadership, and he eventually became just another guy who voted "aye" on the bailout. Frankly, I wish he had opposed it. But, from a political point of view, even if he was for it he could have benefited if suspending his campaign had actually accomplished something and showed some leadership. But it didn't.
Morris thought the crisis was going to show McCain as a "get things done" kind of guy, the way LBJ was in the Senate. It actually made McCain look a bewildered old man who didn't know what he was doing.
I read that at the WH meeting the democrats had Obama take the lead and he just about broke up the meeting when he blamed republican intransigence.
the mistake was that he didn’t consider the House. the bailout had no problem passing the Senate
I think you hit the nail on the head.