Tyler's Turn Blog

The Sky Is Falling! The Sky Is Falling!

The worst thing about John McCain's silly idea to suspend his campaign until an economic package is hammered out is that it's adding to the panic. Remember the story of Chicken Little? In that story, Foxy Loxy uses the panic generated by Chicken Little to get everyone into his den for dinner. And in a crisis, McCain is proving to be another Chicken Little (or maybe George W. Bush), running willy-nilly right into Foxy's den.

As Rep. Mike Pence (R-Indiana) said, "I must tell you, there are those in the public debate who have said that we must act now. The last time I heard that, I was on a used-car lot."

Or, what about Reason Magazine: "If we're talking about restructuring the next couple of decades worth of financial rules, the discussion probably ought to take as long as, I don't know, all the good conversation that went into passage of The PATRIOT Act or something."

Incidentally, Reason is 40 years old this year, and well worth a subscription.

Machinist (mail) (www):
Senate Majority leader Reid called on McCain to come back and "provide leadership", to "tell us what to do" about a great threat to our economy (his words). McCain answered that call. I don't think it is fair to knock him for that. I would point out as well that he has in fact been working to prevent the quick adoption of a simple bailout that would leave the problems that led to the crisis unaddressed. This hardly sounds like "chicken little". I suppose you could have called him that in May of 2006 when he tried to address the growing financial threat posed by these institutions and their unchecked, unsupervised growth. Shumer did at the time, saying they should be writing MORE loans but I guess many would rather forget that attempt to head off this problem.
9.25.2008 1:39pm
Machinist (mail) (www):
It bears remembering that McCain has perhaps the best reputation for working with both sides to reach a compromise. In my opinion he does this too much, but it does make him uniquely suited to lead this effort given the need for bipartisan effort and the fact that so many venal members are trying to take advantage of this emergency to favor some group they are pandering to. It says something that Reid called on McCain to show leadership but didn't mention Obama. I guess he knew what to expect.
9.25.2008 1:59pm
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