How the Right is spinning it: "McCain's Brilliant Play: Bets Presidency on Blocking Bailout Deal"

[avaistheone1]

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).

http://finance.yahoo.com/tech-ticker/article/73110/McCain's-Brilliant-Play-Bets-Presidency-on-Blocking-Bailout-Deal?tickers=



This is one of the cover stories on Yahoo Finance today.

[David Dunham]

1. McCain loses. Poll today shows 70% of the people now support the bailout.

[Junkdrawer]

3. LOL

Not even Harry Reid thinks the bailout is popular... :rofl:

[avaistheone1]

7. 3 hours ago- :AP poll: Few support Bush's market rescue plan (only 30% support plan)

AP poll: Few support Bush's market rescue plan

WASHINGTON (AP) — An Associated Press-Knowledge Networks poll shows little public support for President Bush's proposed $700 billion federal bailout of the financial industry.

Only 30 percent say they support Bush's package. The president says the bailout is urgently needed, but it has run aground after House Republicans rebelled. Another 45 percent oppose Bush's plan, while 25 percent are unsure. There is solid opposition among Republicans, Democrats and independents.

The same survey shows little expectation a bailout will work. It also shows most want Friday night's presidential debate to go on as scheduled. Republican candidate John McCain said Friday he would attend, after initially saying he wouldn't unless agreement was reached on a rescue plan.

http://ap.google.com/article/ALeqM5hV5SDW-bwXS9oF8TWMaS7oS_I7mgD93EG3RO0



Also Rasmussen poll

Just 30% Think Government Should Bail Out The Markets
Thursday, September 25, 2008
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Only 30% of U.S. voters think the federal government should step in to rescue the country’s troubled financial markets, according to a new Rasmussen Reports national telephone survey.
A sizable majority (63%), in fact, are worried that the federal government will do too much to respond to the current woes. The survey was taken Wednesday night, even as President Bush was making a nationally televised address urging Congress to pass the $700-billion taxpayer-backed bailout plan proposed by his administration.

http://www.rasmussenreports.com/public_content/business/general_business/just_30_think_government_should_bail_out_the_markets

[shadowknows69]

2. He didn't even say anything until the end apparently

When he spewed forth some half-assed idea and derailed the whole thing.

[Jack Rabbit]

4. !!

NASA

[radfringe]

5. do we want someone running the country

who goes off half-cocked, and makes spur of the moment decisions?

haven't we had enough of that kind of "managment" for the past 8 years?

[Porschenut1066]

6. McCain sides once again with the de regulators!!

"Instead, he sided with a small band of outraged Republicans grousing about violation of free-market principles."

You see all this crap about taking control of the markets and setting up regulations is crap. In the middle of a melt down due entirely to deregulation Mccain is siding once again with the de regulation folks.

This shows what a bold faced lier he is. This show he has put on has been organized by Carl Rove. It might as well have been put on by some TV show since it is entirely fictional!

This Admim is moving the ARMY into the country to keep order in case of civil unrest as of 1 Oct 2008. Why are they going to need the US ARMY to keep order when that is the job of the police and National Guard? Because they assume that the AMERICAN people are going to rise up when they hear that MCCain has won the election and they will need to set an example of shooting these very dangerous people who are rioting and being terrorists in the Homeland (Used to be Nation or Republic the only other country to call themselves Homeland was Nazi Germany)

We may be entering a period of Dictatorship in the model of Chile and General Pinochet. Be careful out there BIG BROTHER IS WATCHING