MORNING READ

by Walter Alarkon - 09/26/08 9:26 AM ET

Imploding talks over the economic bailout have bloggers engaged in finger-pointing. John McCain’s “stunt” of suspending his campaigning and returning to Washington blew up the bailout deal, according to liberal bloggers. But according to conservative bloggers, Democratic Congressional leaders have been too eager to play the political blame game. The $700 billion bailout proposal itself, meanwhile, is still being treated with skepticism by bloggers on both sides.

McCain has undermined the deal by parachuting in on complicated talks and refusing to take a strong stance on the deal, writes Political Animal’s Hilzoy, who accuses McCain of putting his political interests first. McCain has pulled off a political “stunt” by torpedoing the deal, and he’s now seeking to benefit politically by bringing recalcitrant House Republicans into the mix, writes Todd Beeton at MyDD.

Democrats, who know the bailout is necessary but unpopular with many Americans, are playing political games by blaming Republicans for the deal’s collapse, writes RedState’s blackhedd. The Democrats, who are in the majority, could move the deal forward if they wanted to, the blogger notes. Democrats are making it tougher for Republicans to go along trying to use it to funnel money toward political action groups such as ACORN and the National Council of La Raza, writes Ed Morrissey at Hot Air.

The conservative anger against the bill is real, as evidenced by the strong reaction to former Arkansas Gov. Mike Huckabee’s (R) attack on corporations, writes Mark Daniels at The Moderate Voice. Barack Obama needs to be more of a leader and back a bailout plan that would do more for American citizens and less for Wall Street, writes Arianna Huffington. Both kos and The Corner’s Nick Schulz write that lawmakers haven’t done enough to explain why a $700 billion package is needed to pay for Wall Street’s and borrowers’ mistakes. But, according to economist Megan McArdle, the risk of not passing a bailout is that the economy will collapse and 40 million Americans will end up out of work.

FROM THE BLOGS:
McCain’s ‘Real Leadership’ – Hilzoy, Political Animal
Strange Days: McCain and Conservatives – J. Marshall, TPM
‘Rescue Plan’ For McCain – Todd Beeton, MyDD
Congressional Dems’ ‘Leadership’ – blackhedd, RedState
The Democratic ACORN Bailout – E. Morrissey, Hot Air
Meltdowns – John Podhoretz, Contentions
Conservative Anger is Real – Mark Daniels, The Moderate Voice
Obama Needs to Lead – Arianna Huffington, Huffington Post
Zero Effort to Educate – kos, Daily Kos
Why Aren’t They Making Payments? – Nick Schulz, The Corner
Willing to Gamble to Stop It – Megan McArdle