No such thing as coincidence…

Polimom, in the past few days I've had the same question. I hope my comment will be short....

I do not think the bailout was originally designed to help McCain. I think the plan was hatched when Lehman declared bankruptcy then all eyes were on AIG, which had to be rescued. That got everyone's attention in the government and I think the Bush administration saw an opportunity to change the conversation on something or perhaps to save his legacy and be the saviour of the economy. I don't think the "crisis" was formulated to help McCain... he flip-flopped on the issue too much to have been in the loop at the beginning.... (I think there needs to be something done with regards to the economy, but this isn't it.)

But then McCain saw this as a big chance to save his campaign and distract everyone's attention from Palin. McCain saw that Obama was benefiting in the polls and so McCain took a big gamble to look good on this. Of course McCain had to inject presidential politics into this and we've heard how he has suspended his campaign to put country first, when in fact his campaign is alive and well... McCain is still raising money, making speeches, running ads on TV, etc. He has not suspended his campaign in any manner shape or form, but he wants Americans to believe that he is willing to make this huge sacrifice for the sake of the country.

Up until McCain injected himself into this debate I thought the Dems and Republicans in Congress pretty much agreed that something needed to be done. No one seemed to like the Bush/Paulson plan, but it seemed that there was bipartisan agreement. Then McCain showed up and the Republicans seem to be falling into line behind him and my take is that the Republicans are holding things up. Obama was happy to let Congress go about their negotiations, which were working (until McCain came along).

Obama had it right when he called McCain and wanted to issue a joint statement. And Obama did not throw politics into it.... Obama did not call a press conference to announce he had made this "grand gesture" towards McCain and he was waiting for McCain's response. Obama also had it right by staying out of negotiations (unless he was asked to become involved). Neither he nor McCain sit on the relevant committees..

McCain has done just the opposite.... making public announcement of his intentions of "suspending" and calling off the debate and publicly calling for Obama to do the same in a very public, partisan way.

Now I think both parties want to make sure they get the credit for any eventual bipartisan deal. Having said that..... I agree with Richard Shelby, the Senator from AL who opposes the Bush/Paulson plan. I agree with any other senator, Dem and Republican who oppose the plan.

Assuming there is no agreement within the next week.... I think it will be very interesting if Congress is still debating this a week from now.... and then they may look up from their cocoons and realize the world is still there and the economy hasn't crashed (though this whole process has made and will continue to make the markets volatile). I wonder if Congress will then pick up and go home to finish their campaigning.

I'm just not convinced that something needs to be done right now... and I agree with you, Polimom, there is no such thing as a coincidence. But in this case I think it started as a Bush legacy-saver and then turned into the fight of all partisan fights because McCain wanted to take opportunity of the situation too and he needed to do so in a big way, which meant doing something totally dramatic to get the attention on him.

I honestly do not know what will happen in Congress, but I've still got my popcorn and am enjoying this whole show!

I honestly do not know what will happen in Congress, but I've still got my popcorn and am enjoying this whole show!


That's exactly what I needed to hear. Time for me to get back up to 20,000 feet. It's much better for my sanity.

:>

You know what they say about great minds.........

It's clear from all the polls that the average American feels something needs to be done, but everyone is against the bailout of wealthy Wall Street types who got the rest of America into this mess. The polls show the average American saying, "What about me?" I don't think anyone in politics or the media is picking up on the real underlying angst, the feeling among voters that corporations always get ahead 9even when poorly managed) and the average person is left struggling, even if they do everything right.

Americans are starting to resent those wealthy Wall Street types and others who fly around in their private jets. American are really struggling with a lot of anxiety and fear over the direction of the country and their personal pocketbooks. They see the growing income inequality and feel trampled on by their employers (especially if they work for a big company).

Americans don't understand why they sweat for a salary of $50K a year (or whatever) and struggle to make ends meet where the CEO of their company may earn 400 times that amount. Is a CEO of a so-so company really worth that much?

I think the push back against the corporate bailout (yet again) is the average American saying, "Enough. We're hurting too and we are tired of the government placing corporations over the American citizen. We've worked and struggled for years and we want our rightful due, too."

I might be wrong about this dynamic in America, but if I am right, neither Obama nor McCain have picked up on it. Obama has had a more consistent message aimed at this over the course of his campaign, and given his background, especially the fact that he's actually worked hard and earned everything he has, he can easily tap into this. I think he's tried in the past, but Americans were more interested in tax breaks. but now that Americans are getting angry over a massive Wall St. bailout and feelings of unfairness are bubbling to the surface now would be a good time for Obama (or McCain, though he is seen as privileged with his houses and own jet and his wife's inheritance) to channel this American mood that's about to simmer over.

Sounds like populism to me, Stockboy.

Polimom, populism, exactly. People vote not corporations, even though corporations have way more political power.