10/30/2008 05:12 am ET Updated May 25, 2011

Losing It: McCain Camp Goes Ballistic, Blames Obama For Crash

Moments after the Dow Jones largest single-day point drop ever, the McCain campaign went on the warpath, blaming Barack Obama for the crash of the bailout plan.

Appearing on MSNBC, McCain economic adviser Douglas Holtz-Eakin said that Obama had "failed the American people."

MSNBC's David Shuster did an admirable job of forcing Holtz-Eakin to defend his absurd statement, a feat the McCain aide was unable to accomplish. Watch:

After Hotlz-Eakin's appearance, the Obama campaign released a statement slamming McCain's knee-jerk partisan response:

This is a moment of national crisis, and today's inaction in Congress as well as the angry and hyper-partisan statement released by the McCain campaign are exactly why the American people are disgusted with Washington. Now is the time for Democrats and Republicans to join together and act in a way that prevents an economic catastrophe. Every American should be outraged that an era of greed and irresponsibility on Wall Street and Washington has led us to this point, but now that we are here, the stability of our entire economy depends on us taking immediate action to ease this crisis.

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