McCain-Palin vs Obama-Biden and the risky politics of bailouts

An interesting gap developing between the financial bailout philosophy of the John McCain-Sarah Palin Republican ticket and actually what the Barack Obama-Joe Biden ticket didn't say about the financial turmoil today.

Both McCain and Palin made it clear they do not support the federal government using taxpayer money to bail out private firms like Lehman Brothers.

Obama, as is his rhetorical habit, chose to turn the issue into an attack on the Bush administration, which is not up for re-election, in another attempt to tie Bush and McCain together. He did not formally address the propriety in his view of government saving such a private company.

Peter Viles, our colleague blogger over at L.A. Land, has already posted the full story on today's big story. Go here.

But come right back. He's very good, but he's also a sneak and will try to keep you clicking over there.

--Andrew Malcolm

Comments

[Paul]

Bush may not be up for re-election, but the Republican Senator who supported Bush's policies 90% of the time is.

Bush may succeed in Iraq in the end, but he'll fail when it comes to the economy of his own country. Seeing how McCain is such a hawk when it comes to fighting global wars and so weak when it comes to nurturing the economy, it seems like the same old policies of the last eight years to me.

If we're expected to believe that Palin, a small town mayor with less than 2 years under her belt as governor, is going to be the one that will nurture our economy back to health, then I don't see our economy being any better off than it has been under Bush.

[TM]

Lehman Brothers filed for Chapter 11 bankruptcy and has received no governmental bailout. The Feds declined to step in and did not take any action. Why would this situation require Obama to "address the propriety in his view of government saving such a private company"?

[GOP_Liars]

Even a reich wing tool such as andrew malcolm realizes that it is completely appropriate for Obama to make reference to mccain's constant support and pledge of continued support for the failed neo-con policies of cheney/bush.
It's not a "rhetorical habit" it's a fact, mccain = cheney/bush 90-95% of the time.

That's why malcolm has to try to marginalize Obamas response to mccains ignorance with the nasty "obamas rhetorical habit" prevarication. The obvious truth that the horror of a mccain presidency would be 4 more years of the horrors of the cheney, oops I mean bush presidency

This blog is just a fine example of the way the gop lies and misleads the people.

[brenda]

We are responsible, for whoever we choose as president. If we choose McCain, we should bear responsibility for that choice, if we choose Obama, we should bear responsibility for that choice. So for economy, America's stand in the world, we would bear responsibilty for whoever we pick as president. If the country gets worse, the economy crashes and we lose our stand in the world as number one because of who we pick as president, its not the president's fault but ours.

[davd w]

Sen McCain is going to "clean Up "wall street,to protect are savings?as a member of the keating five how hard did he work to return the hundreds of million that was take from the Savings and loan Zero not one time did he say he was sorry for screwing that all of those old folks lost there whole life savings when he was a board member "John McCain were cleared of having acted improperly but were criticized for having exercised "poor judgment" he .by his fellow senators, a get out of jail card due to his POW service and Glenn for the man on the moon. we are in a bad situation

[Allan Wallace]

Having taxpayers pay for the sins of private companies makes no sense. I would like to see a removal of barriers to entry that encourage huge organizations; and an increase in restrictions on horizontal integration and mergers in the financial industry. That, and not even starting government supported programs like Fannie and Freddy would go a long way toward relative stability.

[bater]

"Obama, as is his rhetorical habit, chose to turn the issue into an attack" Good reporting on an obvious trend, that too many news services ignore.

[Joe D]

Who in there right mind would vote for a person whom they know nothing about and would be a heartbeat away from the presidency? Obama thinks the voters arn't stupid but I have talked to some stupid people lately. People are very ignorant about the issues. It is amazing to me that millions of people would vote against there own economic self interest much less the countrys.

[Paul Stewart]

Clearly it would be better to not bail anyone out with government money. On the other hand, sometimes it is cheaper in the end to do that than clean up a bigger mess later. Such as was already done with the first investment house and Freddie and Fannie....

[teresa]

It shows Obama has NO Grasps on economic issues. He just blames others and point fingers. This attitude can even be seen even during the democratic primaries. MY QUESTION IS WHEN OBAMA WAS A SENATOR DID HE HAVE ANY LEGISLATIIVE ACTION DONE FOR THE ECONOMY? IF NO . HE IS ONE BIG LIAR AND A PHONEY.

[Clark]

What worries me about the Palin/McCain ticket most is their energy policies (especially in regard to drilling in the ANWR). Given the current state of our environment, I think it is important for us, as consumers, to support 'green business.' For example, http://www.simplestop.net stops your postal junk mail and benefits the environment.

[Larry Clifton]

McCain's plan to form a national committee to oversee future regulation of banking industry makes sense. I haven't heard a reasonable plan from Obama. I assume he will say that he wants a committee also. He generally says he is for what ever Bush and McCain are for at some point i..e. drilling, taxes, Iraq war, and so on....
http://americanpoliticalblog.wordpress.com/

[BJH]

What worries me about Obama/Biden ticket is the fact there are so many questions about Obama, heck we don't even know if he is a citizen of Indonesia, or if he is Barry Soetoro Obama or Barack Hussein Obama. His affiliations with anti-American, White -racist preachers and known terrorists is a real concern. Of course his admission to his Muslim faith is no comfort either

[Sheron-OH]

I still want to know where people are getting the idea that Obama is not a US citizen and what faith he has is in question. In stead of people just saying No I want vote for a black person-they keep up the farst of bad information.
quit the code words against Obama -
and go buy some famous Palin glasses if that makes you feel good about all the issues of our country and continue to play on Obama code words.

[Beth]

I live in Illinois, Barack Obama won an uncontested senate seat and almost immediately announced he was running for President. He has done nothing for Illinois and will do nothing for the United States. He has used the dirty corrupt Chicago politicians of yesteryear to get ahead and will continue Chicago politics in Washington. We've already sent one governor to prison and are ready to send another one. I have only one thing to say about Sarah Palin. If you are concerned about here being "a heartbeat" from the Presidency how could you ever vote for Barack Obama; he has less experience than she does. He simply is a smooth talker with no real substance.

[barry]

It is not the "Iraq" war. It is the Iraq/Afghanbistan and now Pakistan war, and we are loding.
Barry