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McCain wants debate suspended to work on financial crisis (Roundup)
Sep 24, 2008, 21:22 GMT
Republican Senator John McCain announced Wednesday that he will suspend his campaign and return to Washington to work on emergency legislation designed to stem off the country\'s financial crisis. EPA/GERO BRELOER
Washington - Republican Senator John McCain announced Wednesday that he will suspend his campaign and return to Washington to work on emergency legislation designed to stem off the country's financial crisis.
In a brief statement to reporters, McCain said he has asked his Democratic opponent, Barack Obama, to join him in the effort, and that he wanted to delay Friday's first presidential election debate between the two candidates.
McCain said he did not believe the 700-billion-dollar proposal floated by the Bush administration will get congressional support as it is currently written.
'It has become clear that no consensus has developed to support the administration's proposal,' McCain said of the White House's plan to buy out risky mortgages and other securities from financial firms.
Obama said he had proposed a joint statement from the two candidates to pressure Congress to resolve differences on the plan before McCain's announcement and that he was also ready to return to Washington if needed. But Obama said he intended to proceed with the debate Friday at the University of Mississippi.
'It's my belief that this is exactly the time when the American people need to hear from the person who in approximately 40 day will be responsible for dealing with this mess,' Obama said, referring to the November 4 election.
McCain said has asked President George W Bush to hold a meeting with congressional leadership as well as himself and Obama to address the crisis and get legislation through Congress.
'Now is our chance to come together to prove that Washington is once again capable of leading this country,' McCain said.
McCain said he will return to Washington after speaking at former president Bill Clinton's Global Initiative gathering on Thursday. Obama said he had no intention of suspending his campaign, and that he is in regular contact with congressional leaders.
'There are times for politics and then there are time to rise above politics and do what's right for the country, and this is one of those times,' Obama said.
Both candidates have backed the plan to bail out the financial sector, but Obama wants provisions to offer more protections to taxpayers and homeowners with failing mortgages.
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Older Talkback
page: 1
Obama now is refusing to delay the debate to discuss 'foreign affairs' no less. McCain challenged Obama to ten debates and he refused them all. Now he's ready. Its seems that for Obama a debate is more important than country. Maybe Obama should debate himself in a Senate stall.
- If Obama did that he might miss and pee on his own leg or better yet all his advisers and wife would have to have a run through before they installed his teleprompter.
Surprise, surprise... Obama put himself ahead of the country.
''It has become clear that no consensus has developed to support the Administration's proposal. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.
Tomorrow morning, I will suspend my campaign and return to Washington after speaking at the Clinton Global Initiative. I have spoken to Senator Obama and informed him of my decision and have asked him to join me.
I am calling on the President to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself. It is time for both parties to come together to solve this problem.
We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved. I am directing my campaign to work with the Obama campaign and the commission on presidential debates to delay Friday night's debate until we have taken action to address this crisis.
I am confident that before the markets open on Monday we can achieve consensus on legislation that will stabilize our financial markets, protect taxpayers and homeowners, and earn the confidence of the American people. All we must do to achieve this is temporarily set politics aside, and I am committed to doing so.
Following September 11th, our national leaders came together at a time of crisis. We must show that kind of patriotism now. Americans across our country lament the fact that partisan divisions in Washington have prevented us from addressing our national challenges. Now is our chance to come together to prove that Washington is once again capable of leading this country. ''
(Jumping up and down in between holding his breath)
But I waaaaaant what I waaaaant!!!
McCain couldn't come up with a plan if his life depended on it. With their $100,000,000 and 9 houses, he couldn't begin to relate. All of a sudden he's trying to act like an economics wiz - Johnny Come Lately!
It's 2 to l in favor of going ahead with the debate according to a poll on MSN. The workings of the country can't be put on hold while the experts decide what to do about the economy. McCain had a few years to help get the country in this condition along beside his best bud, Bush!
McCain is way behind in the polls, so he's pulling yet another rabbit out of his well-worn hat to try to gain some points. This election and what the candidates have to present to the public is important as one of them will have to take over this boiling witch's brew.
He knows he's going to get blown away at the polls and needs time to come up with his crying speech. Run rabbit, run.
Too bad,this might have been a landmark debate for both candidates to show you how a financial crisis of such gigantic amplitude should be handled .There are several possibilities indeed to deal with this crisis,the one Bush and Paulson favor is injecting the taxpayer's money without any compensation,regulation or accountability .A gigantic present to the crooks that, to fulfill their limitless greed ,wrought havoc on your country .Now more than ever,would have been the perfect moment to compare the analysis both candidates would make of the event,propose solutions and clarify the situation,eventually restoring confidence ,and why not ,through their wisdom pour water on the fire that burns your country.Nothing could be more urgent than giving you all the necessary informing so that you would be able to make a motivated choice for your future .Instead of that the GOP has opted for the continuous smear campaign,repeating the most stupid lies;like Obaa is a muslim,a terrorists friend,etc,etc,.Now that they have the chance to show us all what they really stand for ,nothing happens .
'McCain is way behind in the polls, so he's pulling yet another rabbit out of his well-worn hat to try to gain some points.'
The polls are even within the margin of error and once people find out thie crisis was caused by obama and the democrats letting freddie and fanny get away with what Obama let Tony Rezko get away with in Chicago I don't think that he is going anywhere.
The truth is that McCain is the only presidential candidate from either party who called for tighter regulation of the mortgage giants before the current crisis. On May 26, 2006, McCain signed on as a co-sponsor of the Federal Housing Enterprise Regulatory Reform Act. This bill, which would have established precisely the kind of oversight that Obama allegedly favors, was eventually killed by the Democrats. His official statement on that occasion shows that HE [MCCAIN] WAS AS PRESCIENT ABOUT THE MORTGAGE CRISIS AS HE WAS ABOUT THE IRAQ SURGE.'
John McCain, in 2006: 'IF CONGRESS DOES NOT ACT, AMERICAN TAXPAYERS WILL CONTINUE TO BE EXPOSED TO THE ENORMOUS RISK THAT FANNIE MAE AND FREDDIE MAC POSE TO THE HOUSING MARKET, THE OVERALL FINANCIAL SYSTEM, AND THE ECONOMY AS A WHOLE.'
David Catron: 'Obama's LIES about McCain's positions on health care, Social Security, and the mortgage crisis do not by any means exhaust his repertoire of mendacity. He still tells the stretcher about McCain's willingness to stay in Iraq 'for 100 years,' he hasn't stopped misrepresenting the '$5 million' joke, and he continues to distort McCain's positions on Afghanistan and immigration. Most ironically, he lambastes the Republican nominee for 'lying.' Now that's true audacity.'
Saa what I mean,above post is the emanation of the republican dirty trick internet task force.Nothing in it comes even close to the truth?But repeating lies as much as possible is dangerous,it hollows out the very principles of democracy.you already got stuck with BUsh because of a similar campaign against Kerry,orchestrated by Karl Rove and portraying John Kerry as a coward.Remember the 'swift boar campaign '?Nothing in it was true but it provided you all with Bsh.REsult of that ?35.000 dollars of debt for every US citizen,babies and infants included .What is the total sum for your family ?
McCain - say boys how can I get my excuses lined up ready for losing ? Hey - that's a good idea - I was diverted onto Congress stuff, so I couldn't get my message across !
That Bush Obama and McCain are all running around Wall St like a bunch of headless chickens.
LOL
How's the economy SP4 ? Still booming like you always claim ?
A desperate move by a campaign that is in trouble. Last week was OK, today when you are behind in all the polls we are close to a depression? From a guy that has hard time balancing his own check book, all of a sudden he is going to 'help' with this deal---right. What a bunch of Republican't phony desperate fools.
...if your refering to the economy in general, it grew (GDP) at a 3.2% pace for the may/june timeframe. Recessions are defined as two consecutive quarters of negative growth. This being the case, it pretty much douses the recession talk you libnazis have been pimping through one of the best growth spurts in American history.
If youy are refering to this mortgage mess, none of which is part of the normal economic cycle, it is a damn shame.
Fannie Mae is, essentially, a vehicle to make what normal lenders call bad loans. It was started nobley enough, but like all governement programs, does almost as much harm as good. In Fannie Mae's case, it DID more harm than good. By doing this, along with some really stupid bankers, your housing costs INFLATE via artifically pumped housing prices due to the new buyers who can't afford their homes, but get a loan. You get f--ked.
Then when they default, you get doubly f--ked by the corrisponding drop in value, back to where your house should be priced at, or lower as the flood of homes hits the market.
Then, by default, you get tripley f--ked by all the bad loans your government, who's libnazi constituancy rammrodded them into the marketplace in a socialized asset equalizing move in the first place, so you can be taxed to pay for them all.
Then, you get quadruply f--ked by the fact that bank captial is being sucked away to prop up these lemons, so regular customers running businesses cannot get revolving credit. The effect is just like a recession, artificially caused by this mess, all of which should have never happened.
So now, after being cornholed by the dem libnazi 'everyone should own a home' socialist establishment, four times, you have the gall to question me about the state of the economy??? Here's my answer
Your dem libnazi establishment wrecked it and Bush and McCain blew the whistle 5 years ago.
just read the facts below:
This was preventable.Sep 21st, 2008 - 01:59:13
John McCain predicted Fannie Mae and Freddie Mac crises, pushed 2005 legislation to prevent trouble:
The 'FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005' would have headed this off but it was killed in the Committee on Banking, Housing, and Urban Affairs by Chris Dodd who recieved the most money from Fannie Mae and Freddie Mac.
President Bush sought to rein in Fannie and Freddie in 2003.
The Democratic response to Bush in 2003:
“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
“I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.
By all means Peter, feel free to comment!
Of course I feel free to comment - I don't live in country like the US, swamped with propaganda from the political party organised web posters such as yourself
'A desperate move by a campaign that is in trouble.'
From the undisputed authority on 'desperate'. McCain is working on helping the country, Obama just wants power.
'Last week was OK, today when you are behind in all the polls we are close to a depression?'
So there isn't a problem... Go ask whomever supports you if there is.
'From a guy that has hard time balancing his own check book,'
Obama doesn't balance the money he has accepted in kickbacks and bribes, he probably lets his bitter wife stuff it in their mattress.
'all of a sudden he is going to 'help' with this deal---right.'
He is doing his job and helping to get legislation passed. Seeing as Obama only had his current job for 143 days before he decided he was ready for the presidency he probably isn't aware that senators need to negotiate, debate and vote in order to have legislation passed.
That's probably why Obama hasn't had any major legislation passed. The only thing he seems to have done in the senate is accept other peoples money and the instructions that come with it and run for president.
What a bunch of Republican't phony desperate fools.
'Peter
Of course I feel free to comment - I don't live in country like the US, swamped with propaganda from the political party organised web posters such as yourself'
Indeed, you live in one that has government paid for propaganda (and taxes you for the privilege of having it crammed in your ear) designed to manipulate the weak and easily lead such as yourself. How's that working for you?
Google the 'FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005' and you will find information on the bill that McCain proposed that would have prevented the crisis and was killed by the democrats who wanted to keep their cronies in Freddie and Fannie.
if McCain wants to postpone the debate so that there isn't time to get in the two presidential debates AND the VP one - hoping they will cancel the VP altogether after Palin's poor showing in interviews??
Mainstream Media Should Pay Attention to Obama's Ties to William Ayers
(Abridged)
Stanley Kurtz has been investigating the Chicago Annenberg Challenge files in the Richard J. Daley Library at the University of Illinois-Chicago Circle, and he has reported on his results in the Wall Street Journal. I have written before on Ayers, the unrepentant Weather Underground terrorist bomber, who claims to have set bombs at the U.S. Capitol, and Kurtz notes that Obama has tried to play down his long and close association with Ayers. Ayers was the cofounder of the CAC, and Obama was chairman of the board; Kurtz makes it clear that Obama worked more closely with Ayers than previously suggested. But mostly Kurtz concentrates on what the CAC actually did. There are two serious issues here: Mainstream media have shown an almost complete lack of interest in both of them.
One is the closeness of Obama's relationship with an unrepentant terrorist bomber. The second is Obama's own record at the CAC. This was one of the few executive positions Obama has held, and his record on education is undoubtedly a legitimate political issue. From what Kurtz has unearthed, the 'reforms' Obama sought to advance were misguided and the CAC largely unsuccessful. [..]
It's interesting that Obama, in his two autobiographies and in his campaign, has said almost nothing about the one executive position he has held and his one major effort on education. If you don't have anything positive to say, it's a good idea to say nothing and hope that nobody else will say anything either.
McCain and Palin are the only ones who can save us now!!!
McCain has gone from POW to MIA.
TIE 46% McCain 46% Obama
Funny how things end up when leaders lead and followers fall in line!!!
McCain says DeRegulate Health Care BECAUSE IT WORKED SO WELL WITH BANKING.
'Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.' Sept/Oct 2008, Contingencies, the journal of actuarials.
So, McCain was Applauding Financial DE-Regulation and planning DE-Regualte Health Care because it has worked so well for Banking.
McCain, yeah.
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CampbellSep 24th, 2008 - 22:49:58
Obama now is refusing to delay the debate to discuss 'foreign affairs' no less. McCain challenged Obama to ten debates and he refused them all. Now he's ready. Its seems that for Obama a debate is more important than country. Maybe Obama should debate himself in a Senate stall.
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