There are two possible scenarios that I see from the events of today:
1. The republicans are staging an elaborate ruse for the benefit of McCain. That is, they are exaggerating the extent of their rebellion against the bailout so that McCain can come riding in at the last moment and form a compromise, making him the hero of the moment.
or;
2. The Republican rebellion is real and McCain is considering joining it. The problem with scenario #1 is that McCain must be asking himself "Do I want to be the hero of a bailout that the American people, and especially Republicans, absolutely hate?"
I think McCain has realized the impossible bind he is in. Support the bailout, and Republicans will crucify him. Kill the bailout and our economy enters....ur......uncharted waters. The nation could quickly switch from railing against a bailout to railing against the "do-nothing" Republicans who caused an economic meltdown.
The democrats must, MUST not pass a bailout without McCain's support. If he will not support it, he must reap the harvest of what happens next.
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