No, not that bailout. I'm talking about the coordinated bailout of John McCain's floundering presidential campaign. Here's how it has works:
(1) McCain's poll numbers tank. Wednesday, the Washington Post had McCain down 9. Fox news had McCain polling under 40%. Obama up in traditionally red states like Colorado, Virginia, and North Carolina.
(2) The economy, quite understandably, dominates the news and the election. Polls all show that the electorate strongly prefers Obama on the economy. McCain has been utterly incapable of gaining any kind of traction on the issue or of offering a coherent message ("The fundamentals of the economy are strong;" "Fire the SEC Chairman! What, you mean the president doesn't have that authority? Well, I'd make him resign then;" "We're facing a historic crisis!" Seriously, the dude's been all over the place.)
(3) Congress appears on its way to crafting a bipartisan financial bailout plan.
(4) McCain, unable to gain any traction, and floudering in the polls (largely because people prefer Obama on the economy), has to find a way to make himself appear stronger on the economy.
(5) McCain suspends his campaign and pledges to devote all his energy to getting bailout plan in place.
(6) But, Congress is doing that already without him and announces a negotiated plan on Thursday, before McCain ever gets to D.C. Again, he's on the outside looking in.
(7) McCain contacts conservative house members who then announce that a plan is, in fact, not near. McCain stays silent. Mind you, the conservative wing had been silent on the issue and the negotiations prior to yesterday.
(8) McCain says nothing at the White House meeting while conservative house leaders scuttle the negotiated plan. Everything is back in turmoil and uncertainty.
That's where things stand now. Here's the end game:
(9) Congress furiously negotiates with the conservative wing today and some minor changes are made to the framework that was already in place. The conservatives concede and the plan is approved. Conservatives and McCain then scream to the rafters that McCain saved the day and brokered the new bailout plan. There would have been no plan without him! McCain is your economic savior! This has the added bonus of McCain being able to argue that he stood up to Bush. McCain then triumphantly shows up at the debate in Mississippi and claims full credit.
Viola! The conservatives orchestrate a massive bailout of McCain's campaign.
Hopefully, people will see through this charade if it plays out like that.
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