Motley Moose – Archive

A late-night emergency session of the committee trying to negotiate a solution to the liquidity problem plaguing the economy came to a crashing halt tonight.  With John McCain back in DC, the House Republican caucus has rebeled against the President and McCain.  At this meeting tonight, the House Republicans sent a representative unauthorized to negotiate to the meeting (Spencer Bacchus) with a one-sheet whitepaper of “principles and general ideals” that included a Capital Gains tax-cut, increased banking deregulations and mortgage insurance that Henry Paulson has already stated to be a non-starter.

The meeting has fallen completely apart, there is another tomorrow at 11:30am ET which will not include House Republicans, and will therefore have no impact whatsoever.

CNN and MSNBC provided breaking coverage of the detonation of the talks, FOX is rerunning footage of McCain and Bill Clinton together at the Clinton Foundation.

New York Times:

Senator John McCain said Wednesday that he would temporarily suspend his presidential campaign on Thursday to return to Washington to deal with the financial crisis and the $700 billion bailout package now before Congress.

Mr. McCain said he told Senator Barack Obama that he was asking the Commission on Presidential Debates to postpone the debate scheduled for Friday night.

“I am calling on the president to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself,” he said. “It is time for both parties to come together to solve this problem.”

‘McCain Suspends Campaign’ is a headline you don’t expect to see every day.  Looks like Obama has to tread lightly here; he can’t let his opponent gain the upper hand on statesmanship.  On the up side, the foreign policy debate is one that Obama can afford to hold off on for the time being.