One other tactic that members of the the McCain campaign and its surrogates utilize is their attempt to overtalk their opponent in a way that prevents the opponent from exposing the fatal flaws in the majority of their claims, arguments, and positions.  All of the McCain surrogates do it.  They talk and talk trying to run out the clock on the segment in a blatant attempt to prevent the opponent from getting a word in edgewise.  Nancy Pfotenhauer does this ALOT.  Carly Fiorina also used to do it ALOT until she was silenced for saying that McCain is not qualified to run a company.  The McCain campaign has also decided to issue attack ads against the Illinois senator.  Whether such ads are false or misleading does not matter to the McCain campaign.  As long as they attack and mislead the public about Obama’s character.  For example, the McCain campaign has an ad out that claims that Obama voted to raise taxes 94 times.  This is completely untrue and misleading to the American people.  McCain and his campaign know that these are budget resolutions or amendments that in and of themsleves could not result in higher taxes.  In fact, if we use the exact same methodology used by the McCain campaign to come up with this claim, McCain has voted to raise taxes 400 times.  They fail to mention this little tidbit in their ad.

Walking along the grounds at Fort McNair, McCain runs into John Dramesi, an Air Force lieutenant colonel who was also imprisoned and tortured in Vietnam……

On the grounds between the two brick colleges, the chitchat between the scion of four-star admirals and the son of a prizefighter turns to their academic travels; both colleges sponsor a trip abroad for young officers to network with military and political leaders in a distant corner of the globe.

“I’m going to the Middle East,” Dramesi says. “Turkey, Kuwait, Lebanon, Iran.”

“Why are you going to the Middle East?” McCain asks, dismissively.

“It’s a place we’re probably going to have some problems,” Dramesi says.

“Why? Where are you going to, John?”

“Oh, I’m going to Rio.”

“What the hell are you going to Rio for?”

McCain, a married father of three, shrugs.

“I got a better chance of getting laid.”

The real John McCain.  Both George W. Bush and John Sydney McCain III had an eerily similar career path:

At each step, with the aid of their fathers’ powerful friends, both failed upward. And both shed their skins as Episcopalian members of the Washington elite to build political careers as self-styled, ranch-inhabiting Westerners who pray to Jesus in their wives’ evangelical churches.

In one vital respect, however, the comparison is deeply unfair to the current president: George W. Bush was a much better pilot.

The real John McCain putting allegedly putting “country first” according to Lincoln Chafee, a former GOP senator.  Chafee is said to be appalled by McCain’s readiness to “sacrifice principle for power.”

And forget all the “Country First” sloganeering, he adds. “McCain is putting himself first. He’s putting himself first in blinking neon lights.”

The real John McCain’s temperament:

McCain didn’t play well with others. Indeed, he concedes, his runty physique inspired a Napoleon complex: “My small stature motivated me to . . . fight the first kid who provoked me.”

She might have undone whatever good will she earned with her “aw, shucks” Wasilla hockey mom ways, though, when she utterly failed to react after Biden choked up while discussing the death of his first wife and their daughter.

Palin’s response was ice cold: “People aren’t looking for more of the same. They are looking for change. And John McCain has been the consummate maverick in the Senate over all these years.”

The New York Times  Editorial Board got it right.

But Ms. Palin never really got beyond her talking points in 90 minutes, mostly repeating clichés and tired attack lines and energetically refusing to answer far too many questions.

Senator Biden did well, avoiding one of his own infamous gaffes, while showing a clear grasp of the big picture and the details. He left Ms. Palin way behind on most issues, especially foreign policy and national security, where she just seemed lost. It was in those moments that her lack of experience — two terms as mayor of a tiny Anchorage suburb and less than two years as governor — was most painfully evident.

To be clear, Palin cleared the very low bar of verbalizing at least one coherent thought during the ninety-minute debate.  However, the bar is considerably higher to be the vice president of the most powerful nation in the free world. As a matter of a fact, Palin appeared as if she was running for prom queen with the eye-winking, the shout-outs to third graders, and refusing to answer pressing questions concerning the anxieties and doubts of the American people regarding the economy and foreign policy.  Instead, resorting back to the tired cliches and talking points of the McCain campaign.  The best part was when she praised Bill Cheney for his handling of the vice presidency.   In fact, Palin ultimately asserted that the Cheney model for the vice presidential position is what she aspires to use as her guide “if she and McCain are so blessed as to be” voted into office.  Hopefully, the American people will be so blessed as to NOT have to suffer through a McCain-Palin administration.

John McCain is pulling out of Michigan, according to two Republicans, a stunning move a month away from Election Day that indicates the difficulty Republicans are having in finding blue states to put in play.

McCain will go off TV in Michigan, stop dropping mail there and send most of his staff to more competitive states, including Wisconsin, Ohio and Florida. Wisconsin went for Kerry in 2004, Ohio and Florida for Bush.

A McCain aide confirmed the move and chalked it up to the state’s Democratic tilt and the resources Obama had put in place there.

“It was always a long shot for us to win,” said the aide.  

McCain will now turn his attention to bolstering his defenses in Ohio and Florida while putting more resources into Wisconsin, Minnesota, Pennsylvania and the second congressional district of Maine, where there is a sole electoral vote available.  

Sunday on Meet The Press, Tom Brokaw moderated a debate between McCain strategist Steve Schmidt and Obama strategist David Axelrod on topics ranging from Iraq to the Wall Street bailout. At the end, Tom Brokaw did something strange. He opted to give himself the last word and told the audience:

In fairness to everybody here, I’m just going to end on one note. And that is that we continue to poll on who’s best equipped to be Commander in Chief, and John McCain continues to lead in that category despite the criticism from Barack Obama by a factor of 53 to 42 percent in our latest NBC News/Wall Street Journal poll. Gentlemen, thank you very much.

1.We checked, and the latest NBC poll actually has no question about Commander in Chief.2 We contacted NBC about this, and it turns out Brokaw was referring to a poll taken weeks ago–right after the Republican convention and well before Friday’s big national security debate.3 And in each of NBC’s last two polls, Americans chose Obama over McCain.

Can you email Tom Brokaw today? Let him know that this election is very close, and we need journalists to be responsible. Giving himself the last word in the debate, and citing an outdated poll number as if it was current, was a mistake. As a responsible journalist, he should apologize for both.

Here’s where to contact him:
Tom Brokaw, Meet The Press feedback form: http://www.msnbc.msn.com/…

Then, help us track our progress by reporting your comment here:
http://pol.moveon.org/…

Barack Obama was widely praised after Friday’s presidential debate for his knowledge of foreign affairs and national security. ABC’s George Stephanopoulos summed up the consensus this way: “Overall, bottom line, the winner is Barack Obama…his number one goal was to show that he belonged on that stage…he could hold his own on national security, he did that tonight, he gets the win.”

Every major poll after that debate showed Americans thought Obama won–and a CNN poll said voters trusted Obama over McCain to handle Iraq.  Plus, three major polls released on Sunday showed Americans choosing Obama over McCain.

So Brokaw’s insertion at the end of the debate wasn’t just random–it painted an inaccurate picture of the race for voters. Can you contact Brokaw today?

Thanks for all you do.

(caucasian woman): “It’s nothing against you,” she said, “but I think we’re not ready for a black President.”

(AA woman): I kept it light. “I’m ready!” I joked.  Then I said, “Barack Obama is so much more than ‘just our first black President.’” Then I went on to talk to her about Obama’s policies in general terms and to generally try to get her to think of him as something other than “a black president.”

She kind of hemmed and hawed. Finally I said, “If you were to suddenly fall into this lake (the running/walking trail is around a lake) and need mouth-to-mouth, and there was me, who knows CPR, and a white person who didn’t, would you rather me not give you mouth-to-mouth because I am black?”  

She thought about it for a really long minute! Yes, folks, she thought about it! Let me pause to say this woman must be REALLY racist if she could tell me, an African American Obama supporter, she wasn’t comfortable with a black man being President.

Finally she said, “I’d want you to save me. No doubt about it.”  

So then I said, “Well, our country is just like you would be if you’d fallen into the lake. It is in dire straights. And the only person who can save it, happens to be the black guy.  Do we really want to watch our entire future be jeopardized because of something like this?”

“I never thought about it like that,” she said.  ”That puts a new spin on it.”

Then she said, “But my friends will all think I have gone nuts if I tell them I will vote for Obama.”

I told her, “You don’t have to tell them who you are voting for. It’s like when you pray for people (I got the feeling she was also religious) you don’t have to tell people what prayer you’ve said on their behalf–but they will still get all the benefit.  If Obama wins,” I told her, “you will have made their lives better, whether they realize it or not.”

“You’re telling me to lie?” she said jokingly.

“Yep,” I said. “If that’s what is going to get you to vote for Obama!”

“You’re smart,” she said. “I think you just converted me.”

“I’m not as smart as Obama!” I told her.

For all the phonebankers and canvassers who have experienced this situation more than once.

Well, Treasury officials had a secret conference call with Wall Street executives.  Unfortunately for them, some bloggers were on the call.

The ‘Treasury boys’ on the call made it clear that “the tranching is a mere formality, and the Treasury boys as much as said so. They could take the $700 billion max as soon as the bill has passed.”  That was always obvious.

And they admitted that “the exec comp provisions sound like a joke, They DO NOT affect existing contracts, they affect only contracts entered into during the two years of the authority of this program and then affect only golden parachutes.”  Both of these provisions were ‘concessions’ sought by Democrats.  Of course, no one could have predicted this bill’s ‘concessions’ to Democrats were farcical.  No one at all.

There’s more….full account.

1. The tranching is a mere formality, and the Treasury boys as much as said so. They could take the $700 billion max as soon as the bill has passed,

2. However, they do not plan any action immediately, will wait a couple of weeks. They want to focus their efforts on stronger companies but also made noise about protecting the financial system. This, by the way, is the Japanese convoy system all over.

3. There seemed to be a lot of tap dancing about what price they will pay for assets and no straight answer about their policy on warrants. They did say that if the amount sold was greater than $100 million, they would take warrants. FYI, the current draft allows them to pay up to the price at which the assets were initially booked (yikes) . I wonder if this is obfuscation, if they have an idea of what the plan to do but will not admit it in any public forum.

4. As the person who listened to the call stressed, DealBreaker wasn’t clear on the bifurcated process. If you come to the Treasury and you are in trouble, you get reamed. Bear/AIG style treatment, execs probably fired. But if you participate on a voluntary basis, the intent is to make it very user friendly. That is consistent with Paulson’s position during the negotiations.

5. The exec comp provisions sound like a joke, They DO NOT affect existing contracts, they affect only contracts entered into during the two years of the authority of this program and then affect only golden parachutes. More detail on that point, but I don’t need more detail to get the drift of the gist.

“For Wachovia customers, today’s action will ensure seamless continuity of service from their bank and full protection for all of their deposits,” FDIC Chairman Sheila C. Bair said in a statement. “There will be no interruption in services and bank customers should expect business as usual.”  Link

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY

TO PURCHASE MORTGAGE-RELATED ASSETS

Section 1. Short Title.

This Act may be cited as ____________________.

Sec. 2. Purchases of Mortgage-Related Assets.

(a) Authority to Purchase.–The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.

(b) Necessary Actions.–The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;

(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;

(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and

(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.

Sec. 3. Considerations.

In exercising the authorities granted in this Act, the Secretary shall take into consideration means for–

(1) providing stability or preventing disruption to the financial markets or banking system; and

(2) protecting the taxpayer.

Sec. 4. Reports to Congress.

Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3.

Sec. 5. Rights; Management; Sale of Mortgage-Related Assets.

(a) Exercise of Rights.–The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act.

(b) Management of Mortgage-Related Assets.–The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.

(c) Sale of Mortgage-Related Assets.–The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.

(d) Application of Sunset to Mortgage-Related Assets.–The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9.

Sec. 6. Maximum Amount of Authorized Purchases.

The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time

Sec. 7. Funding.

For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Sec. 9. Termination of Authority.

The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.

Sec. 10. Increase in Statutory Limit on the Public Debt.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.

Sec. 11. Credit Reform.

The costs of purchases of mortgage-related assets made under section 2(a) of this Act shall be determined as provided under the Federal Credit Reform Act of 1990, as applicable.

Sec. 12. Definitions.

For purposes of this section, the following definitions shall apply:

(1) Mortgage-Related Assets.–The term “mortgage-related assets” means residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before September 17, 2008.

(2) Secretary.–The term “Secretary” means the Secretary of the Treasury.

(3) United States.–The term “United States” means the States, territories, and possessions of the United States and the District of Columbia.

House Speaker Nancy Pelosi said, “We’re not the ones trying to blow this up; it’s the House Republicans.”

“I know, I know,” Paulson replied.

Until McCain air-dropped down onto Capitol Hill, after an almost six month absence, and caused a break down of the negotiations, Congress was on its way to sealing the deal.  The fundamentals of the deal had been agreed upon and both sides were on their way to a developing consensus.  Then McCain showed up.  A blind man can see through this very obvious and desperate attempt to resuscitate an ailing campaign that is caught in a downward spiral.  The consensus of Republicans and Democrats on th Hill is that McCain severely disrupted the negotiation process by dropping in and injecting presidential politics and partisanship into an almost completed bipartisan effort.  The Arizona senator did not propose an alternative plan, McCain came to DC to cause chaos for the sake of causing chaos.  He was silent almost the entire time during the meeting with Bush.  No offering of solutions or even possibilities.  But it is essential that he be on Capitol Hill at this time (snark). 

House Republicans, consistent with McCain’s belief and tacit support, propose that the bailout be funded through private money.  They also propose a suspension  of  “mark-to-market regulatory rules for long-term assets.”  More deregulation!! Seriously!  The proposal has already been rejected as not feasible by Secretary Paulson, a member of the Republican party by the way.  Free-market, free-market, free-market, free of all government regulation was McCain’s public mantra before last week.  The proposal by the House Republicans is a completely ridiculous non-starter and an obvious ploy by House Republicans to help McCain with his excuse not to show up at the debate tonight and face the American people.  Such Republicans claim that Paulson’s plan “fundamentally alters the nation’s free-market system in that it broadly socializes firms’ money-losing mortgage assets and places the U.S. on a slippery slope whereby profits will also be nationalized.”  Last week, McCain listed his conditions for a bailout plan, the bipartisan proposal included such conditions.  Apparently,  McCain looked at his falling poll numbers and changed his mind.  Lets call it what it is, McCain is gambling with the American economy in order to rehabilitate his campaign.  He is willing to gamble America’s standing in the world to win this election.  And by the way, the world is listening.  The German Minister of Economics is now saying that America will no longer be a powerful nation.  McCain has always been a gambler but now he is a gambler gambling with someone elses money.  McCain first, Country second.

McCain, the voters are paying attention.

The debate on Friday was to focus on Mr. McCain’s perceived strength, foreign policy. Mr. McCain had not planned to devote large blocks of time to debate practice as did Mr. Obama, who was holing up with a tight circle of advisers at a hotel in Clearwater, Fla., on Wednesday, Thursday and Friday to prepare. Mr. McCain had a preparatory session on Wednesday afternoon at the Morgan Library in Manhattan, but advisers said it had been interrupted by his decision, announced immediately afterward, to suspend his campaign 

For the record, though McCain claims that his suggestion is an effort to rise above politics, his decision to delay the debate could not be more political.  The polls came out yesterday showing Sen. Obama with a growing lead and McCain and his campaign panicked.  Obama is within four points of McCain in West Virginia!!!!!!  West Virginia is solid red country!!!  They realized that Sen. Obama has the wind at his back and the McCain campaign are trying to turn off the fan with a political stunt because they can’t do so with a good economic plan (they don’t have one).   Not only does McCain think that the current situation warrants a delay of his debate but warrants a canceling of the vice presidential debate.  Seriously?????  Do they really think that the American people are going to put Palin in the White House without hearing her debate and speak in a non-McCain staged environment.  McCain does not sit on any of the relevant committees that are currently in deep negotiations.  Several Congressmen have come out and said that McCain’s presence would actually hurt the process.   The crisis began a week ago..you remember……when McCain said that “the fundamentals of our economy is strong.”  Why didn’t McCain cancel the debate at that time?  McCain appears frantic and erratic……he does not appear to be the steady leader we expect of a future President.   If we had a debate in 1934 during D-Day we think that McCain can make his way down to Ole Miss without the the nation falling into a vortex.  You need to be able to multitask as the leader of the free world.  What’s next…..should we suspend the election until McCain catches up?  The main stream media has rejected McCain’s latest ploy as pure politics. 

It was stated best in Rupert Murdoch’s Wall Street Journal:

Last we checked, the President of the United States was still George W. Bush, the Secretary of the Treasury was still Henry Paulson, the Chairman of the Federal Reserve was still Ben Bernanke, and Congress still had 533 members not running for President who are at least nominally competent to debate and pass legislation.

So count us as mystified by Senator John McCain’s decision yesterday to suspend his campaign and call for a postponement in Friday’s first Presidential debate so that he and Barack Obama can work out a consensus bill to stabilize the financial system. This is supposed to be evidence of leadership?

 Washington Post

Can McCain pull this off - persuading the public to forget how he and his fellow Reagan Republicans changed the nation’s economic rules in ways that allowed Wall Street to run amok, and refocusing its attention on his decisiveness at this moment of crisis? I doubt it…….McCain’s ploy was transparent.

The Dallas Daily News

Democrats accused Mr. McCain of pulling a stunt to halt a slide in the polls. They also tweaked him for declaring the economic situation so dire it requires suspension of his campaign, a week after he declared the fundamentals of the economy are sound.

Some independent analysts agreed. “It is a stunt. It is a ploy,” said David S. Birdsell, dean of the school of public affairs at Baruch College in New York, an expert on presidential debates.

He called it a “very high-risk strategy” for Mr. McCain to take responsibility for brokering a solution to the economic crisis. “He’s not president yet,” Dr. Birdsell said, adding that pulling out of a debate is unprecedented. “That notion that we take one of the most sacred obligations and rituals of American politics and suspend it because there’s an urgent national question is highly problematic.”

Rocky Mountain News (CO):

If Winston Churchill could leave London in December 1941 and travel to America to address a joint session of Congress even as British troops in the Far East were reeling under Japanese attacks, somehow we think John McCain can make his way down to Oxford, Miss., for a debate Friday evening without imperiling the future of America. In this case, Barack Obama is right.

New York Times Editorial

We don’t know if Mr. McCain or Mr. Obama will do any good back in Washington. But Mr. McCain’s idea of postponing the Friday night debate was another wild gesture from a candidate entirely too prone to them. The nation needs to hear Mr. Obama and Mr. McCain debate this crisis and demonstrate who is ready to lead. 

Rasmussen          Obama 48   McCain 48
Hotline/Diageo    Obama 47   McCain 43
Gallup                 Obama 47   McCain 44

Battleground State Polls

SurveyUSA here

VIRGINIA     Obama 51 - McCain 45

Quinnipiac here: 
COLORADO:        Obama  49  - McCain  45
MICHIGAN:         Obama  48  - McCain  44 
MINNESOTA:      Obama  47  - McCain  45
WISCONSIN:        Obama  49  - McCain  42

Trust to handle the economy:
CO:    Obama 47 - McCain 41
MI:    Obama 50 - McCain 38
MN:    Obama 45 - McCain 45
WI:    Obama 47 - McCain 40

NBC/Mason-Dixon 
FLORIDA:   Obama  47 - McCain 45

Arkansas:               Obama 41 - McCain 53
Massachusetts:     Obama 55 - McCain 39
Oregon:                  Obama 52 - McCain 41
Pennsylvania:        Obama 50 - McCain 46
Vermont:               Obama 56 - McCain 38
National:                Obama 48 - McCain 46

PPP here

COLORADO:        Obama 51 - McCain 44

INadv/PollPos
OHIO:     Obama 46 - McCain 46

Channeling his inner Queen of Hearts, John McCain furiously, and apparently without even looking around at facts, said Chris Cox, chairman of the Securities and Exchange Commission, should be decapitated. This childish reflex provoked the Wall Street Journal to editorialize that “McCain untethered” — disconnected from knowledge and principle — had made a “false and deeply unfair” attack on Cox that was “unpresidential”

In any case, McCain’s smear — that Cox “betrayed the public’s trust” — is a harbinger of a McCain presidency. For McCain, politics is always operatic, pitting people who agree with him against those who are “corrupt” or “betray the public’s trust,” two categories that seem to be exhaustive — there are no other people.

Conservatives who insist that electing McCain is crucial usually start, and increasingly end, by saying he would make excellent judicial selections. But the more one sees of his impulsive, intensely personal reactions to people and events, the less confidence one has that he would select judges by calm reflection and clear principles, having neither patience nor aptitude for either.

It is arguable that, because of his inexperience, Obama is not ready for the presidency. It is arguable that McCain, because of his boiling moralism and bottomless reservoir of certitudes, is not suited to the presidency. Unreadiness can be corrected, although perhaps at great cost, by experience. Can a dismaying temperament be fixed? “