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Bush: McCain’s Mistake (McCain fumbled GOP handling of financial crisis)
The Wall Street Journal ^ | 2010-11-09 | Louise Radnofsky

Posted on 11/09/2010 4:02:09 PM PST by rabscuttle385

Republican presidential nominee John McCain cornered President George W. Bush into convening a White House summit on the financial crisis – one that top administration officials thought could hurt the administration’s response to the crisis, Mr. Bush says in a new memoir.

Mr. Bush writes that Mr. McCain, trailing in the polls and seeking to appear on top of the crisis, asked him to convene a special meeting to discuss a rescue package for the financial markets. Mr. Bush says he told the Arizona senator that he would first check with Treasury Secretary Hank Paulson to make sure a meeting wouldn’t undermine the secretary’s efforts to reach a deal with Congress. Minutes later, Mr. McCain went on TV to call for the meeting and announce the suspension of his campaign to work full-time on passing the legislation. Mr. Paulson and other aides were opposed to it, but Mr. Bush says at that point, he was stuck: “How could I say no to John’s request?”

The former president says Mr. McCain’s performance at the meeting was poor. While Mr. McCain needed to be seen “handling the crisis in a statesmanlike way,” he punted when asked to talk about what he would do to get the bill passed. Instead, at the end of the meeting, he spoke only “in general terms about the difficulty of the vote for Republican members and his hope we could reach a consensus.” Mr. Paulson had offered a similar recollection.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS: bailout; bush; failure; fiorina; mcbama; mccain; mccain2lose; mccain4himself; mccain4mccain; mccain4obama; mccainthrewelection; mclame; mcqueeg; mcvain; paulson; rinomccain; rinos; tarp
While Mr. McCain needed to be seen “handling the crisis in a statesmanlike way,” he punted when asked to talk about what he would do to get the bill passed. Instead, at the end of the meeting, he spoke only “in general terms about the difficulty of the vote for Republican members and his hope we could reach a consensus.”

More evidence that McCain threw the election for Obama.


1 posted on 11/09/2010 4:02:21 PM PST by rabscuttle385
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To: calcowgirl; mkjessup; stephenjohnbanker; indylindy; Kimberly GG; DoughtyOne; TigersEye; ...
*Ping!*
2 posted on 11/09/2010 4:04:28 PM PST by rabscuttle385 (Live Free or Die)
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To: rabscuttle385

McCain was handed the winning issue .. and he dropped the ball because of his RINO tendencies.

If McCain had come out strongly against the bailouts, he might have been able to beat Obama.


3 posted on 11/09/2010 4:06:09 PM PST by TexasFreeper2009 (Obama = Epic Fail)
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To: rabscuttle385

Like most Freepers, if Palin hadn’t been on the ticket I never would have voted for this clown.


4 posted on 11/09/2010 4:06:18 PM PST by Inyo-Mono (Had God not driven man from the Garden of Eden the Sierra Club surely would have.)
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To: rabscuttle385
Alas, now let the Bush bashers begin their onslaught!
5 posted on 11/09/2010 4:06:43 PM PST by EGPWS (Trust in God, question everyone else)
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To: rabscuttle385


Yep we do...boy do we EVER

6 posted on 11/09/2010 4:06:59 PM PST by Nat Turner (I can see NOVEMBER from my house....)
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To: Inyo-Mono
...if Palin hadn’t been on the ticket I never would have voted for this clown.

Palin the conservative vote, McCain the liberal vote.

Even the liberals couldn't support McCain.

7 posted on 11/09/2010 4:09:10 PM PST by EGPWS (Trust in God, question everyone else)
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To: rabscuttle385

I wish this info had come out BEFORE the primaries. McCain isn’t a maverick. He’s a traitor.


8 posted on 11/09/2010 4:09:42 PM PST by stansblugrassgrl
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To: rabscuttle385

In his book, “Decision Points,” out today from Crown, Mr. Bush says his bank bailout proposal was “a breathtaking intervention” and “the last thing I wanted to do,” but defended it, saying “the only way to preserve the free market in the long run was to intervene in the short one.”

Bull Crap. The only way to preserve the leviathan on Wall Street from the debt monster it had created was the bank bailout or TARP. This had nothing to do with preserving the free market, as a matter of fact the net effect due to the misallocation of these funds is the distortion of the free market.

I liked Bush, but at times it was apparent he was in way over his head.


9 posted on 11/09/2010 4:11:00 PM PST by bereanway (I'd rather have 40 Marco Rubios than 60 Arlen Specters)
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To: Nat Turner

Miss him? Not so much...Of course, that doesn’t imply approval of Obamalini or his stooges.


10 posted on 11/09/2010 4:12:20 PM PST by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: Nat Turner

Miss him? Not so much...Of course, that doesn’t imply approval of Obamalini or his stooges.


11 posted on 11/09/2010 4:12:27 PM PST by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: EGPWS

I’m not going to bash Bush but...let’s face it, he contributed to the 2008 election results too. Had he found the WMDs, things might have been different. Even if he didn’t find them, had the war been conducted a little better, things might have been different. 2008 was as much of a reaction to Bush as 2010 was a reaction to Obama. Americans seem to get very reactionary every other November it seems.


12 posted on 11/09/2010 4:14:49 PM PST by RC one (WHAT!!!!)
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To: rabscuttle385

McCain hates this Country his feelings are for the illegal Mexicans not Americans ,he is a POS Traitor and nothing more.


13 posted on 11/09/2010 4:15:54 PM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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Comment #14 Removed by Moderator

To: rabscuttle385

When all is said and done, and thanks to the 2008 election nuclear collider and this book, we now have a little clearer picture of what happens when two RINOtrons collide.

System-wide destruction on a large scale...


15 posted on 11/09/2010 4:19:48 PM PST by DoughtyOne (Your next chance like this? About 2044. Vote popularity and don't waste time with the details.)
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To: rabscuttle385
“How could I say no to John’s request?”

Easy. No!

16 posted on 11/09/2010 4:24:16 PM PST by Parmy
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To: bereanway

Bush at least was capable of making a decision. McCain was all over the place and looked like an idiot.


17 posted on 11/09/2010 4:25:06 PM PST by ari-freedom (Ding dong the Pelosi is gone!)
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To: Cheetahcat

Well he spent 5 years in the “Hanoi Hilton” sacraficing for your ass. McCain is a irritating RINO at times but he certainly loves his country!


18 posted on 11/09/2010 4:26:56 PM PST by willk
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To: rabscuttle385

Pretty soon, McCain is going to have to apologize to Benedict Arnold.

Since 1989, McCain has been working against the best interests of America. The Lincoln Savings debacle and the Keating Five showed that this was not McCain’s first time at the financial rodeo.

You may recall Obama’s equally dismal performance at the summit. The old “Call me if you need me” followed by an exit stage left.

McCain was left stuttering like a senior home resident.

McCain;s job in 2008 was to lose to Obama and to destroy the budding Conservative movement in 2008 as a two-fer.

The only one on the ticket who actually believed in McCain was Palin.

Remember in Oct. 2008 when that man in the crowd said that he was angry, and wanted McCain to show some anger? McCain said, and this is proof of his treachery—”We have nothing to fear from an Obama Presidency” and “Mr. Obama is a decent man” as he recoiled in horror from the yelling citizen.

The election was lost at that very moment.

The dirty truth about the 2008 election is that whoever the puppetmasters are, they had control of both candidates for President, and they would win either way.

That is another reason the GOP leadership has to go. It was only our fight for the last two years that got them back in power. And if they don’t perform, they are going the way of the Whigs.

And speaking about dirty truths, here’s one about the 2010 election. Had we not won this one big, it would have been the last peaceful election America ever had.

Full Dem control past January 2011 would have plunged this country into a civil war.

Let us pray we, the people, can now avoid that possibility.

We are at the precipice; we stopped the headlong rush over the edge, just in time. If we are not careful, we will still fall over.

Once again, this is no time for the sunshine patriot. there is still heavy lifting ahead.


19 posted on 11/09/2010 4:29:29 PM PST by exit82 (Democrats are the enemy of freedom. Sarah Palin is our Esther.)
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To: Nat Turner

No I do not miss the socialist Bush.


20 posted on 11/09/2010 4:31:07 PM PST by stockpirate ("......When the government fears the people you have liberty." Thomas Jefferson)
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To: rabscuttle385

The only things McKane is good at are getting shot down and pissing off conservatives.


21 posted on 11/09/2010 4:33:00 PM PST by GBA (Not on our watch!)
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To: rabscuttle385

McCain has fumbled his whole life away. He’s not content being miserable himself so he wants to make the whole country miserable.


22 posted on 11/09/2010 4:33:22 PM PST by iowamark
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To: rabscuttle385

Too bad this didn’t get brought to light before the republican primary.


23 posted on 11/09/2010 4:36:19 PM PST by catfish1957 (Hey algore...You'll have to pry the steering wheel of my 317 HP V8 truck from my cold dead hands)
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To: willk

Would it have ever come to your attention that people incarcerated for such a long time and under the circumstances he was subjected to may, just may, hold a grudge to those who did nothing to end the incarceration, especially when he was known to be one who was already arrogant before his capture?

In these times and with these new revelations of insight, all be it just one man’s insight, everything is on the table in my estimation to make some sort of logical sense of the larger picture. Watch Beck’s show from tonight and combine that with information that one of Juan’s 527’s has received funding from Soros.


24 posted on 11/09/2010 4:40:39 PM PST by mazda77 (Mike Hogan - JAX Mayor)
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To: rabscuttle385
Bush is unwilling to say anything negative about Obama, but he seems more than willing to dish dirt on McCain.

WTF??

Probably because of Juan's choice of that loose cannon Conservative from Wasilla who won't play the GOP's reindeer games.

25 posted on 11/09/2010 4:42:47 PM PST by DTogo (High time to bring back the Sons of Liberty !!)
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To: rabscuttle385

This whole thing was a fiasco when McCain suspended his campaign and rushed to Washington, only to have no plan and no ideas. It made him look volatile, panicky and with no ideas. I think the episode sealed the deal with the voters and eliminated whatever chance he might have had.


26 posted on 11/09/2010 4:55:13 PM PST by colorado tanker
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To: colorado tanker
This whole thing was a fiasco when McCain suspended his campaign and rushed to Washington, only to have no plan and no ideas. It made him look volatile, panicky and with no ideas. I think the episode sealed the deal with the voters and eliminated whatever chance he might have had.

True so instead they voted for the Messiah who essentially voted PRESENT taking no stand
27 posted on 11/09/2010 5:08:56 PM PST by uncbob
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To: colorado tanker

I can see why Charlie Crist supported McCain. Two peas in a pod. Neither without any core beliefs other than grabbing the next rung on the ladder.


28 posted on 11/09/2010 5:09:24 PM PST by chuckee
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To: rabscuttle385

That he did. As did Bush


29 posted on 11/09/2010 5:15:55 PM PST by pissant (THE Conservative party: www.falconparty.com)
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To: rabscuttle385

Bush handled the crisis very poorly, thanks to the Democrat (Paulson) he appointed to run Treasury. McCain, on the other hand, was completely clueless.


30 posted on 11/09/2010 5:25:17 PM PST by 3niner (When Obama succeeds, America fails.)
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To: rabscuttle385

Well, we all know that McCain was a jerk. The meeting over the financial crisis made it clear to the dullest eye that he didn’t have a clue.

But the real problem was that Paulson was already working with the enemy. He was in close contact with Obama while refusing to answer McCain’s calls. Pelosi and Reid were also in on the deal.

Bush had a bad habit of putting people who were determined to undermine him into top positions—or of leaving clinton appointees there. Tenet. Sessions. Paulson. To name just a few.

If McCain insisted on a meeting, that was dumb. But it was Paulson and Obama who engineered the October Surprise, the suddenly announced banking crisis, that won Obama the election.


31 posted on 11/09/2010 6:10:17 PM PST by Cicero
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To: Inyo-Mono

Yep, before Palin came along, I was wondering how big a barf bag I would need to take with me when I went to vote.


32 posted on 11/09/2010 6:12:19 PM PST by Left2Right (Starve the Beast!)
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To: EGPWS
Alas, now let the Bush bashers begin their onslaught!

It is interesting how some are trying to rehabilitate the Bush image. Our ruling class of elite royalists have no respect for voters or for the voters' memories. You better darn well know that the Bush bashers will be out in force reminding folks that the Bushes (like the Kennedys) are a snobby bunch of Global elites whose fealty is to their Global Syndicate. It is no wonder they had no love for Ronald Reagan and are setting their attack dogs on Sarah Palin. The Bush Syndicate Sees Reagan and Palin as a bunch of Redneck Peckerwoods standing in the way of the Royal Agenda.

33 posted on 11/09/2010 6:18:38 PM PST by ghostrider
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To: DTogo
Bush is unwilling to say anything negative about Obama, but he seems more than willing to dish dirt on McCain.

It's obvious that Obama's a failure. Many expected better from McCain, and were disappointed. Possibly including Bush.

34 posted on 11/09/2010 6:24:18 PM PST by meyer (Hey Obama - It's the end of the world as you know it.... ..... and I feel fine!)
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To: Cicero

They did not engineer it. It was 10 years in the making. We never truly recovered from the Dot Com Crash. The Housing Bubble was blown by the Federal Reserve to “fix” the economy, thereby postponing the adjustment. We did it a second time during the past 2 years, so the next down leg will be a doozy.


35 posted on 11/09/2010 6:32:12 PM PST by PghBaldy (Like the Ft Hood Killer, James Earl Ray was just stressed when he killed MLK Jr.)
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To: PghBaldy

They did not engineer the crisis. They engineered the way the crisis was suddenly sprung on the public, all over the TV news and the headlines.

People who follow financial matters were aware of it, but most people suddenly woke up to the news that the world was about to end unless the Fed arranged a huge bailout.

I know all of my children and friends were extremely worried. And the way it was played, everyone was led to believe that McCain was clueless (which he was) but that Obama was exactly the right guy to fix it.

Bush also sat there with his mouth open, as Pelosi and Reid declared that Obama should take charge of the meeting at the White House.

That was the October Surprise: The world is going to end, unless we pass the bank bailout and elect Obama to fix things. McCain thought he could just step in and grab the credit. He was sadly mistaken, and left with egg all over his face.


36 posted on 11/09/2010 6:47:27 PM PST by Cicero
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To: Cicero
...

That was the October Surprise: The world is going to end, unless we pass the bank bailout and elect Obama to fix things. McCain thought he could just step in and grab the credit. He was sadly mistaken, and left with egg all over his face.

Perfect analysis.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

37 posted on 11/09/2010 7:32:15 PM PST by The Comedian (I really missed you. Next time, I'll adjust for windage.)
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To: colorado tanker

And then his “meeting” included Obama, and Obama actually looked as presidential as McCain did at the meeting, thus giving voters the idea that the two were equals.

Then Obama could use the “everything’s fine” quote from McCain to show McCain was out of touch.


38 posted on 11/09/2010 7:54:37 PM PST by CharlesWayneCT
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To: willk

“Well he spent 5 years in the “Hanoi Hilton” sacraficing for your ass. McCain is a irritating RINO at times but he certainly loves his country!”

How is loving this country about loving the Invaders more than the citizens of this country and I had nothing to do with him being shot down. BTW He is a traitor to our party.


39 posted on 11/09/2010 8:54:13 PM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: uncbob
McCain was such a bad candidate he even made Obummer look presidential.
40 posted on 11/09/2010 9:08:15 PM PST by colorado tanker
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To: rabscuttle385

McCain is vile - it is all about him.

He wanted to “suspend his campaign” to look like a hero.

His campaign advisors were quoted saying that a terrorist attack would be “a big advantage” for McCain.
If McCain had his way, we would have gone to war with Russia over his pet project, Georgia — all to improve *his* image.

What a sick pathetic little man he is.


41 posted on 11/09/2010 10:04:52 PM PST by calcowgirl
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To: Cicero; rabscuttle385; All

” But the real problem was that Paulson was already working with the enemy. He was in close contact with Obama while refusing to answer McCain’s calls. Pelosi and Reid were also in on the deal.

Bush had a bad habit of putting people who were determined to undermine him into top positions—or of leaving clinton appointees there. Tenet. Sessions. Paulson. To name just a few.

If McCain insisted on a meeting, that was dumb. But it was Paulson and Obama who engineered the October Surprise, the suddenly announced banking crisis, that won Obama the election.”

Those of us who have been in investment banking for many years agree with you on Paulson and Obama. You may correctly add Soros and Goldman Sachs Chairman Lloyd Blankfein.Lehman Bros. was a MAJOR competitor to Goldman Sachs, for a number of financial instruments. Blankfein wanted to make sure Lehman was not bailed out. He got his wish, and the resulting financial meltdown was their gift to Obama. (With the proviso that Obama played ball)


42 posted on 11/10/2010 10:20:29 AM PST by stephenjohnbanker
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To: The Comedian

” That was the October Surprise: The world is going to end, unless we pass the bank bailout and elect Obama to fix things. McCain thought he could just step in and grab the credit. He was sadly mistaken, and left with egg all over his face.”

Perfect analysis.

Yep


43 posted on 11/10/2010 10:22:06 AM PST by stephenjohnbanker
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