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Friday, October 10, 2008

Luck - or Lack of it

At a different time and place, I might be tempted to feel bad for McCain.  After all, if he didn't have bad luck, he'd have no luck at all.

You see, he's been working so hard for so long to secure his conservative base.  He even got himself a life-sized version of "Talkie Sarah" to appeal to the base (ironically, Al-Qaeda translates to "the base" as well, so you draw your own conclusions).

"My name is Talkie Sarah and I eat moose burgers."

"My name is Talkie Sarah and I see Russia from my living room."

"My name is Talkie Sarah and I'm a maverick reformer!"

"My name is Talkie Sarah and I don't like taxes."

So here he is, very well received by the base - or maybe I should say "the Republican base" since I don't want to offend Al-Qaeda - and then he goes off to propose an additional massive bailout $300 billion more.  And this is what he gets for it:

John McCain is facing a fresh round of anger from members of his own party deeply opposed to the Arizona senator's proposal for the federal government to purchase troubled mortgage loans.

The pointed backlash from several economic conservatives -- many of whom already distrust McCain's commitment to free-market principles -- couldn't come at a worse time for the Republican presidential nominee less than four weeks before Election Day as he stares at a significant deficit in national and state polls.

But at a time when McCain can't afford to worry about a lack of support from his party's base, several conservatives are openly criticizing the plan as a flagrant reward for reckless behavior among lenders.

In a sharply worded editorial on its Web site Thursday, the editors of The National Review -- an influential bastion of conservative thought -- derided the plan as "creating a level of moral hazard that is unacceptable" and called it a "gift to lenders who abandoned any sense of prudence during the boom year. . . ."

But McCain is hoping the plan will resonate with moderate and undecided voters, many of whom viewed the bailout as a giveaway to Wall Street CEOs. This plan, the McCain campaign argues, better steers the money to Main Street, where struggling homeowners need immediate relief.


Emphasis added.  He can't win without the Republican base and he can't win without moderates and undecided.  And he can't figure out a was to net both before November 4.

Like I said, if he didn't have bad  luck, he'd have no luck at all.

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