September 26th, 2008
No Debate Tonight? Good!
Washington Mutual collapsed last night, the largest bank failure in U.S. history. Who would want to see McCain and Obama debate foreign affairs?
Fine, you say, they should have debated economic policy. You think that would be helpful, to bring campaign politics into the limelight in Mississippi at a time when the real work is being done in committee meetings in Washington?
You think McCain and Obama don’t have a stake in what’s being decided? Think again: one of them is going to be President in January and have to administer the plan being decided right now. If they’re both present, neither of them can blame Bush or Congress and claim “I had nothing to do with the lousy bailout plan that hamstrung my presidency.”
They ought to be there, both of them, even if just to monitor how the process unfolds.
What kind of person, applying to us for the job of President, wouldn’t want to be involved!
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September 26th, 2008 at 4:34 pm
The latest I’ve heard is that Lehrer is going to start the debate off tonight with the economy,and we’re off to watch the debate at the local McCain HQ.
I blame a lot of this economic debacle on the mark-to-market method of accounting. These companies that have been folding have all been worth much more than their books indicate with this method. I understand why it was put into place; I guess the ramification of it just couldn’t be foreseen??
IMO, Congress had been come up with something quick before we have a full-scale depression. I’ve heard that there may be companies who have payrolls to meet next week who can’t borrow to cover them right now. Kinda scary.