The politics of the bailout, part 2

By Nick Ragone | Related entries in News

In addition to sabotaging our economy and putting “main street” at risk, the Republican back-benchers have also blind-sided John McCain’s campaign by keeping the bailout front and center for at least another week.

It’s clear now that the politics of the bailout is working against McCain; every day it dominates the news cycle is a bad day for the McCain camp.

With only 34 days to go, and his poll numbers sinking, McCain can’t afford another lost week.  Who knows if Congress will pass a bailout bill on Thursday, but if the House Republicans torpedo it again, it may be the last nail in McCain’s coffin.

Ironically, this might have been a different story if Mitt Romney was his running mate.  He would have been able to speak credibly with Paulson and Bernanke and the Republican leadership, and offer real insight and assistance to the negotiations.   But hindsight in 20/20 …

www.nickragone.com


This entry was posted on Tuesday, September 30th, 2008 and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “The politics of the bailout, part 2”

  1. BenG Says:

    Nick,

    The last thing in the world we should care about is John McCain’s chances in relation to the financial crisis that faces this nation, in fact, the world. Has anyone noticed the banks failing in Europe as well? They say it’s just a matter of weeks that people, in other fields then finance, will start loosing their jobs due to the inability of businesses to get credit, the life blood of the economy. And they’re talking about maybe 3.4 million of us let go within 6 months? I’m not sure either of the candidates would want the job if that were to happen!

    One thing for sure, these days are sure filled with irony, with McCain’s own party being the one’s not stepping up to take one for the team. To the Repubs credit, there’s more at stake here that needs to transcend the showboat politics that McCain seems to rely on. He gets what he deserves. We’ll see after Thursday night if it even would’ve mattered if the House Repubs swallowed their pride and tossed their principles aside for one so reckless as Mr. McCain.

  2. Joshua Says:

    BenG: We’ll see after Thursday night if it even would’ve mattered if the House Repubs swallowed their pride and tossed their principles aside for one so reckless as Mr. McCain.

    Sarah Palin could wipe the floor with Joe Biden on Thursday and it probably won’t matter at this point. The financial crisis has made this, for all intents and purposes, a single-issue campaign now, and Obama couldn’t have picked a better single issue for his campaign’s sake.

    This disaster happened on the watch of a Republican president, and may have been exacerbated by the defeat of the bailout bill, accomplished mainly by a bunch of Republican congresscritters. Since most voters will be unable to punish those GOP reps at the ballot box (on account of not living in their congressional districts), and no one will be able to punish Bush (on account of his not running in this election), I have no doubt that most of them will simply take it out on any Republicans available regardless of their culpability in this mess, starting with the one at the top of the ticket.

    This campaign is over.

  3. LinuxTX Says:

    In response to: “In addition to sabotaging our economy and putting “main street” at risk, the Republican back-benchers have also blind-sided John McCain’s campaign by keeping the bailout front and center for at least another week.”

    I’m totally against the bailout due to the fact the government has no right to take over private companies and the financial burden on us, taxpayers, is irresponsible.

    That said, I do believe that the Democrats have a majority in the House. If Pelosi could have banded all the Blues together and shown some leadership, your beloved bailout would be here.

    Republicans don’t listen to their constituents often, but I’m glad they did here.

  4. ExiledIndependent Says:

    If McCain wanted to be a true “maverick,” he’d come out against the bailout proposals with a sharp, smart, counterproposal that doesn’t sell out the dollar, saddle 250 million innocent bystanders with the debt of the greedy, prey on fear, and smokescreen with useless political theater like an FDIC increase and the “expectation” that Wall Street would someday pay the government back.

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