John McCain has two choices, both bad... and only one chance for this gambit to work

[scheming daemons]

A. He nixes the bailout, and Democrats - not wanting to be left holding the bag - kill it.

B. He endorses the bailout, and his party follows. Bipartisan support passes it.


If A:

The stock market likely goes down 1000 points on Monday, another 500 on Tuesday. By Wednesday, 3 major banks collapse.

Believe it.

In this scenario, he does what hard-core conservatives want.... but America is worse off and plunges into a deep recession.

He tries to blame Democrats...afte all, they could've passed it without him.... but America will blame him.

Obama will win in a landslide... but we'll hit 12% unemployment in 6 months and a dow of 8000 in three.


If B:

The country wins.... and McCain looks "statesmanlike"... but he loses his base completely.




My fear is... he'll pick A and hope the economy doesn't collapse.

He's strapped us all into his plane, and he's on a kamikaze run.




I know America doesn't want this bailout... and that is because America isn't smart enough to understand it.

By May of 2009... we will be in a full-blown depression without a bailout. That's not hyperbole. My brother is a corporate banker (at PNC). this is real, people.

Those who laugh it off and say "good! Let a depression come. It'll teach those fat-cats." ..... My 94-year-old grandmother has a message for you:

You have no idea how bad that we'll be for us.

The Great Depression, which was worldwide (as this one would be), created Hitler and Mussolini.


Remember that.

[grantcart]

1. I agree except that the Dow could start to tank tomorrow

and then force him to change plans midday.

[Booster]

2. Ok, somebody has to explain to me how this deal hinges solely

on what McCain decides. I'm lost in this mess.

[scheming daemons]

3. Here's why

Congressional Democrats will ONLY support the bailout if they get substantial Republican support... to provide them cover so the Republicans can't beat them over the head by tying them to Bush.

The only way that there is substantial Republican support, is if McCain - the titular head of their party right now - supports it.

They won't support it if McCain doesn't.

And if they don't support it, there's no way the Dems are going to do this on their own.




Bottom line: Whether or not this bailout goes through is now ENTIRELY up to John McCain.


...and the bastard hasn't even read the thing.

[Booster]

11. Well, that's disturbing. Then not ONE person in Wash DC gives

a flying shit what is good for America - only what is good for themselves. That's what I've thought for a long time, but it's still disturbing. So this URGENT, URGENT issue can just wait while they all sit on their collective butts to see what one man with dementia decides. What a fucked up country.

[elocs]

4. If America does not want this bail-out, who the hell do Democrats think supports it?

And why would Democrats want to be extorted for hundreds of billions of dollars from the financial greedy bastards who got us here? I thought the Democratic Party was the party of the regular, hardworking Americans and not the Wall Street fatcats.

[scheming daemons]

7. Do we want to be the party of the next Great Depression? America is WRONG to reject this

[elocs]

10. Some proof of that would be nice other than the scare tactics used by Bushco. n/t

[Ilsa]

5. I read ya. As much as a bailout stinks, we can't allow ourselves

to have another Great Depression. And like you said, people would get desperate for dictatorial leadership that finds an easy target for blame.

[Wednesdays]

6. False dilemma.

There are other alternatives to the "bailout" giveaway.

[scheming daemons]

8. We need an infusion of liquidity..now... only via bailout or via massive tax cuts...

Either way... we end up paying.

[Wednesdays]

9. Can you explain the $700 billion number

And why not $600 billion or $800 billion?

[scheming daemons]

12. It might not end up being $700 billion.... but it's in the ballpark

[Hugin]

13. Please explain exactly how $700 Billion under the sole discretion of the Sec. Treasury...

is going to solve anything.

Be specific. I've, not seen, any empirical objective explanation.

How does it work?

There are more than a few Americans who can understand it.