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Even McCain's Gaffes Show His Serious Character
Marc Ambinder over at the Atlantic posits that McCain's comment that economic fundamentals are strong was just what a responsible leader would do in times of crisis - that in fact, McCain was just doing his best Frank Bailey to prevent a run on the bank:
Both McCain and Obama have to strike a balance between acknowledging the crisis and using their authority to convince Americans not to run on their banks and head for the hills. That's what McCain was doing this morning when he said the "fundamentals" of the economy are strong; Obama will strike a different balance.
This is absolute hogwash. Of all of the financial crises facing Wall Street right now, the notion that without McCain's reassuring words Americans will make a run on FDIC insured savings accounts with a collapse of civil society thrown into boot is not what is making people at the Fed toss and turn in their sleep. No one is talking about a run on commercial banks. No one.
Republicans are absolutely ignorant at understanding the scope or nature of this crisis, let alone its cause or cure. The economic actors (the banks, the hedge funds, the sovereign wealth funds, the pension funds, etc.) whose decisions will determine the length of this crisis are not looking at what a politician is saying in a stump speech; any words of reassurance from McCain (or Obama or any politician) is by definition cheap talk and would not be considered by a rational economic actor. They are looking at the Fed, they are looking at their books, they are looking at the world market, but they are not looking to John McCain for soothing words of comfort.
This spin is becoming tiring - McCain seems proud of the fact that he doesn't use the google? why don't attack him for that - he can't use email because of his war injuries! McCain says under his plan the US could be in Iraq for 100 years? Don't attack him for that - he meant 100 years of peace and sunshine and rainbow kisses! McCain does his best imitation of Herbert Hoover on the day of a once in a century crisis Alan? That is just good old John McCain Putting Country First!
Give us a break.
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Comments (3)
You do know, it's George Bailey, not Frank, right? In "It's a Wonderful Life", McCain is old man Potter.
September 15, 2008 11:24 PM | Reply | Permalink
Yikes! I meant Frank, yes...it has been too many years since I have seen the movie...
September 16, 2008 12:33 AM | Reply | Permalink
I did it again...McCain was doing his best George Bailey...no more late night posting for me...
September 16, 2008 12:34 AM | Reply | Permalink
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