Bailing Out the Bailout - The American Spectator | USA News and Politics
Bailing Out the Bailout

At least one concern I raised in my Culture11 piece this morning doesn’t seem to have panned out: John McCain’s decision to try and play a leadership role in getting the bailout passed doesn’t appear to have stalled negotiations. If the early reports are to be believed, and one never knows about such things, it may have even made an agreement more likely. If so, I suspect this is true for two reasons: First, many Democratic leaders were hurrying to hammer out a deal before McCain could arrive as the conquering hero. Second, most of my analysis was contingent on Barack Obama’s non-cooperation. Obama joining in the negotiations gives the Democrats cover and allows the two presidential candidates to share credit/blame for whatever comes next. I’d feel better about this if I were actually for the bailout, but it may be a victory of sorts for McCain.

UPDATE: Perhaps I spoke too soon.

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