Obama didn't have to accept, and shouldn't have
by
tdn0024
09/25/2008, 8:13 AM #
Obama should have told Bush that his participation was at the level of describing parameters he saw as vital, that he'd check in with Chris Dodd and Barney Frank and see how things are going.
Sure enough, Barney is now on the record saying he feels the they are close to a deal with Paulson and that he (Barney) wishes they'd (Bush, Obama) checked with him.
Anyone whose ever negotiated on behalf of a group understand Barney Frank's statement. If talks break down, you change horses. But if its moving, you don't interrupt it and disturb the flow.
Obama missed his chance to close the deal. He mushed when he should have been firm and decisive.
After checking with Barney, he should have told Bush that it looks like the problem here is on Bush's side, with the ideologues whose lax regulation blew this thing up holding fast to their broken religion that government is all bad and private sector only good. He should have then said that yes, he thinks it makes a heck of a lot of sense for Bush and McCain to babysit their own ranks.
And then said the American people were open to Phil Gramm's experiment. The results are in. And the American people are ready to move on with lessons painfully learned. The market is fantastic; human beings everywhere are human; light touch but concrete regulation serves good of consistent economic dynamism.
Obama gummed it, and didn't close the deal. He has left McCain the chance to fight another day.