Re: Debate is On

Michael: The question that this statement doesn't really answer is whether all this intervention by McCain got both sides closer to a deal, or whether it would have been easier to reach one if there wasn't a presidential candidate in the middle of these very delicate negoatiations.

I guess we won't know until we see how this comes out.

UPDATE: Dana Perino just said the same thing. I'll get the quote for you when I get the transcript.

If the two presidential candidates -- since we're trying to pass this massive package in the middle of a presidential election -- that if their participation in the meeting yesterday could help finalize things, that that would be for the better. I'll let others decide and analyze, and once it's all finished, everybody can take a look back and see if it was helpful or not.

UPDATE2: Commenter Cookie Puss asks: How will we know besides him telling us? He still hasn't stated what he wants in a bailout plan.

Here's what I think: If the plan that passes looks pretty much like the deal that was announced yesterday, then McCain probably got in the way.

On the other hand, if a plan passes that includes signficant features of the Cantor/House Republican plan (especially this insurance feature), and if it ends up having truly bipartisan support in the House, then McCain deserves some credit.

So let's see what happens.

UPDATE 3: Boehner has sent Pelosi a letter asking her to give the Cantor proposal serious consideration. If she doesn't he warns that a "large majority" of the House GOP Conference will oppose the bailout.