Henry Blodget thinks McCain torpedoing the bailout may have been "brilliant"

Given the ongoing crisis in the credit markets, a bailout plan will likely be struck today or Monday--whether McCain plays ball or not. Assuming this happens, McCain will:

  • Take credit for brokering a compromise (assuming the final deal is palatable to Americans)
  • Crow that he was the candidate who tried to stand up against the bailout of Wall Street fat-cats
  • Note every five minutes in the next six weeks that the enormous sop to Wall Street hasn't saved anything (if the bailout works, it won't work until long after the election is over)
  • Blast President Bush, who everyone hates anyway, thus reinforcing his "change" message
  • Say he's the only guy with the balls and experience necessary to deal with this crisis.

And on the off chance that a deal doesn't go through in the next couple of days, McCain can just rail about the outrage of the Democrats' desire to bail out Wall Street at the expense of Main Street and say he's the only one standing up for the little guy.

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