Tito wrote:In fairness, I think Obama wanted no part of it and wanted to stay out of it. He got dragged into it after McCain did mismanage it and forced a meeting with the President. Nothing Obama did help pass the bill or was he part of the solution as bad as it was. So, that by default is a win for Obama.
Tito, if you were running for president, would you want anything to do with this bill? There isn't a smart person in the world that would want to be associated with it, while running for president. How on earth does a presidential candidate who's desperately trying to disassociate himself with the sitting president, run back to washington in a desperate show of political grandstanding to sign a bill presented by the current presidential administration....loaded with 150 billion in earmarks, which is something that McCain has a major campaign promise to "veto on every turn"....
For a presidential candidate to break a campaign promise before election day...is laughable.
McCain doesn't deserve the presidency on that one act.
McCain gave Obama an early christmas gift with his conduct during the crisis. McCain exposed several weaknesses during the scenario.
First, it was clear that McCain rushes into judgment.
Second, it was made abundantly clear that McCain engages in political grandstanding of unparalleled distaste.
Third, It was also made clear that McCain is more than willing to let the prevailing political winds dictate his voting (something I've known for years)....
Forth, McCain in rushing back to washington, demanding that the bill get passed (in a desperate effort to feign leadership), exposed his support for this bill, despite the content (i.e. earmarks or no earmarks)....that enabled the democrats to gear back enough support for the first bill, have the senate dems write an amended bill that contained 150 billion in pok....and force McCain to sign it.
In his desperate effort to feign leadership qualities he doesn't otherwise have, McCain exposed weakness and position...showing that he actually doesn't have leadership...and he allowed himself to get hoodwinked by congress. I don't want a president that tips his position to adversaries. He's not ready to fight. He doesn't know what it means...Because if he did, he would have likely maintained a cooler hand in the face of crisis.
Instead, he just showed how dreadfully unprepared he is to lead this country out of financial crisis, steer us around international crisis in israel and
steer us out of crisis in iraq.....
Tito wrote:I do understand how f'd up the situation was. I've seen this coming for years as others did i.e. the Ron Pauls of the world and other true conservative economists. Do I know every single detail -no. But this was ticking time bomb.
Well, the point I'm trying to make is that you might see a problem coming...but I doubt you or many people not knee deep in finance or accounting would clearly understand the inner workings of some of these mortgage backed securities and derivatives. It's complex shit...and the point I'm trying to make is that in order to fix a problem, you need to understand it first.
I blame the majority of congress for throwing 850 billion dollars at a problem they don't fully understand. That's one of the MAJOR reasons why the market continued to tank after the bailout. It's clear that the solution presented by congress was NOT well thought out...and as a result, market confidence continued to tank....