While the fellow who use to play political prophet of deregulation scurries to avoid responsibility for the crises that is engulfing Wall Street like a wild fire. We can be thankful George W. Bush in his final days as President, is at least attempting to put country first in sending secretary Paulson down to the hill.

Under discussion is a bi-partisan effort similar to the reconstruction finance corporation Herbert Hoover established after the Great depression. The plan is an attempt to proactively avert what every expert not working for team McCain asserts is a sure certainty if we do nothing. No less than a national financial catastrophe that would dwarf even the Great depression in scope and depth.
Current drafts of the proposal , would essentially give the secretary of the Treasury a purse of seven hundred billion to a trillion dollars. He could then go into any financial institution and buy, hold and ultimately sell mortgage-related assets.
The proposal under consideration would also have the effect of transforming Washington D.C, into the nation’s financial capital, the proposed powers would last for two years, but could be extended and Mr. Paulson has already said the troubles with mortgage loans will most likely last year

While the Obama campaign attempts to avoid inflaming the fears and uncertainty griping the financial markets. Top gun McCain and his pistol packing side kick are doing their neoconservative best to dodge blame and incite fear. Hoping to play pitch fork populist, the McCain campaign is now offering single sentence stump attacks that attempt to blame Senator Obama for the crises hoping people will ignore the fact he spent nearly thirty years as one of the principle architects behind legislation that created the crises.
Unfortunately for Senator McCain his overnight conversion doesn’t seem to be selling on main street and the poll numbers continue dropping as GOP pundits grudgingly begin to concede the election is now Obama’s to lose. Which leaves Senator McCain with his strategy of last resort. If he is unable to pull out a miracle in the debates. The Senator will indirectly begin playing the race card. In key battle ground states the republican swift boat armada will ramp up racism, and the Senators own campaign will run as many ads showing groups of black people surrounding Obama as they can slap together.

P.S. Burton Blogger Nations

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