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.

Comments

[Snoop2]

Elizabeth:

E-mail John and let him know what you think about him. here is contact info....

http://www.johnmccain.com/Contact/

BTW - Saturday night John was out on the town with Cindy, Joe Liebermann and Joes wife.

They thought that dining at Washingtons finest restaurant was much more important than saving the

country! I don't think thatJonhas any idea whatis going on in Washingtonor anywhere else.

He is definately making some very poor mental choices! I urge him to drop out of the race for the

good of the country!

[darker]

BLAME, BLAME, BLAME.
Who should Republicans blame. THEMSELVES!

What? THEY want 4, 8 MORE YEARS? ? ?
The Republicans WHO PROVED CANNOT GOVERN?
The ones who ONLY DIVIDE US?
Irresponsible Republicans who crashed everything imaginable and corrupted for 8 years?

No thanks. NO MORE YEARS.
Republicans DESERVE TO LOSE the presidential election this time.

[azwildcat]

Okay, let me get this straight...Democrats provided two-thirds of the votes (140) for this bill, while Republicans only provided 65 votes. And this is Barack Obama's fault? I thought McCain the savior was rushing back to Washington to broker a deal to get the Republicans in line to vote. Apparently he is not very persuasive.
His entire campaign is a sad, desperate joke that has clearly gone off the rails. Please tell me we won't have this circus in the white house next year?
Obama/Biden '08

[kimberbrooks]

So True! Watch the responses from the McCain camp. They are the exact opposite of what really happened. They blame Obama for the failed bailout vote, when McCain is the one that threw himself into this and said he would deliver the Republican vote. They blame Obama for Freddie and Fannie when it was,McCain's advisor Gramm that actually got us into this mess. Palin, well, hmmm, she knows nothing about anything and McCain blames the media. It's actually quite hilarious!

I am so sick of the media trying to figure out what went wrong with the vote. It isn't rocket science! The deal was for a non-partisan bill. So 2/3 of both Republican and Democrat House of Representative members were to vote for the bill. The Democrats come through and the Republicans pull out so the Democrats look bad. Why can't they just call it what it is, a setup by the republicans, probably crafted by McCain to make him look good! MY HOW THAT PLAN FAILED!!!

[PT6]

In CRISIS can we stand FOUR MONTHS of a POWERLESS PRESIDENT and VICE PRESIDENT?

No! They can not control Their OWN REPUB HOUSE and They are causing MORE DAMAGE!

We MUST START IMPEACHMENT HEARINGS and THE CHARGES ARE:

1. False Statements to Congress and the American People regarding IRAQ.
2. Non-Regulation of Stock, Bond, Banking, and Oil.
3. Non-Enforcement of SEC Rules on "Naked Shorts" that drove Companies to Bankruptcy and Merger.
4. Excessive Leveraging of Oil Market to Force Oil to Record Highs.
5. Non-Regulation of Mortgage Industry that lead to "TRICK" Loans and lost homes.
6. Non-Regulation of Derivatives which combine HIGH RISK LOANS together and Sell as Low Risk.
7. Non-Enforcement of Rules and Regulations in ALL INDUSTRIES.
8. Excessive Executive Pay for POOR PERFORMANCE.

There is literally REAMS of INFORMATION including Video, Audio, Text, Phone, and email evidence to convict these perpetrators.

[geewiizz]

None of this matters unless you honestly believe that Obama is the one that can get us out of this mess. It is a big mess. Those in power are not going to give it up easily. They will do every thing and say anything they can to distract and deceive the citizens to what is actually going on. Obama said from the very beginning that he could not do it alone. It will take the people to work with him to right the wrong. Obama is not perfect, but he is the best alternative to sure death.

My heart is heavy and sad to witness what is taking place in this country. WAKE UP PEOPLE! The right-wing so called christians have ruled for hundreds of years using the bible as a calling card to rob, rape and pilidge the country side from Africa to South America to the Carribean and beyond. It is almost like that movie Independence Day. These people are like locust, having no regard to human life. To continue to blame every thing on the black man is absurd! If we don't DO SOMETHING, WE ARE DOOMED! Sickness and disease, police state, no money, no jobs, no affordable health care, tainted food, water, no gasoline, and more...

There are only a little more than 30 days left. Do not let your children and grandchildren ask WHY DID YOU NOT DO SOMETHING ABOUT IT!

Be willing to Vote Obama or die trying.

[arthur2008]

John McCain is a leader?

Here is the roll call vote on the bailout from his state and Sarah"s:

ALASKA
Republicans " Young, N.
ARIZONA
Democrats " Giffords, N; Grijalva, N; Mitchell, N; Pastor, N.
Republicans " Flake, N; Franks, N; Renzi, N; Shadegg, N.

[Icantbelieveher]

McCain will next be taking for credit for having Tina Fey play Palin on SNL!

[Obama Biden]

The more they blame Obama, the more he stares them down and they wilt. That is the kind of leader I want, not one that can "see" Putin from across the river, but can and will stare him down.

[yankee48104]

I saw this exchange and first kudos to Schuster for pulling a Chris Matthews. But I literally lost it when I saw it. I couldn't believe how he said John McCain did everything to pass this bill and Barack Obama is to blame for this for not rallying the troops.

It's as if Bush is a Democrat and this is a Democrat pushed and packed bill. Incredible as it is disgusting. The Dems got 2/3s of a vote for an UNPOPULAR bill proposed by the Rep. president and amended by bi-partisan leaders. It fails, because the Reps could hardly carry the other side of bi-partisanship effort and the Dems are to blame, specifically BARACK OBAMA.

The Pelosi speech was too partisan for them to pass it. What a way to get back at her! America lost over a trillion dollars because of this, you could have pooed her house for free...
unbelievable!!!

[Icantbelieveher]

I really didn't think her speech was too partisan. It blamed the failed Bush administration! The repugnants don't want any mention of why the country is in the shape it's in. It's too close to them for comfort!

[elizabethc]

Where was John McCain on Saturday night? Probably at some craps table in Vegas!

[hopefuliohio]

no actually, he was at a posh dc hotel w/the liebermans spending over $1000 for their dinner...details here :
http://www.huffingtonpost.com/2008/09/28/as-negotiators-struck-bai_n_129989.html

[Hackpiper]

Wow. I mean...really. What are this guy and the McCain campaign thinking? I especially enjoyed the irony in his wild eyed accusation of partisanship against the democrats...It would be hilarious, except that theres nothing funny in any of this. Pathetic.

The McCain campaign is tanking badly, and the entire republican apparatus are obviously in last-ditch desperation mode. The signs of the GOP death spiral are everywhere.

[Shiral]

"Last Throes" as I belive Cheney would put it. But unlike the Iraq insurgency, the Repubs really ARE melting down.

[no more sheeple]

What is the matter with these people? Anyone been on Politico lately, more tr0//s and lies than I care to give my time to. Obama is to blame for all that is bad and McCain is to get credit for all things good. This country to back asswards right now!

[whit4brains]

I saw this earlier and really liked how he said McL ame was on the phone all day dealing with this and then criticizes O for "calling it in". I guess it would be hard to keep all that BS straight. I bet the maverick is wishing he had just stayed on the campaign trail last week instead of rushing to Washington to "solve the financial crisis". What a joke he is!

[H2Opolomom]

Would someone out there dreg up Keating 5? Why is this being covered up?

[706makeupgirl]

Yes, H2O, why is it that no one ever speaks of the Keating 5, which McCain was definately part of? Does anyone know if it was put out of bounds for the press and the Obama campaign to speak of? There are a lot of younger voters out there. This fiasco happened when they were born, I think that something should be said, printed about it.

LOOK THE SAME?

from wikipedia:

The U.S. Savings and Loan crisis of the 1980s and early 1990s was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. taxpayer.

The accompanying slowdown in the finance industry and the real estate market may have been a contributing cause of the 1990-1991 economic recession. Between 1986 and 1991, the number of new homes constructed per year dropped from 1.8 million to 1 million, the lowest rate since World War II.

POOR JUDGEMENT, REALLY?

[sheikwil]

John McCain and his campaign are out of their freaking minds. He blinked again and his now going to pay for it. They had some type of agreement last week until he stuck his nose in it, so now the blame is on him shoulders.