Should we start counting the days before John McCain has anything real to say about the current financial crises? In a speech on Tuesday, he offered not a single concrete proposal. Today, as Barack Obama was delivering a speech on the financial crisis, McCain issued the following statement:

On Tuesday, I addressed the housing crisis and its devastating impact on our financial markets and the household budgets of millions of hardworking Americans. The fact is that there are about 4 million homeowners in danger of losing their homes. We have a responsibility to take action to help those among them who are deserving homeowners, and as I said this week, I am committed to considering any and all proposals to do so. Any action must further look to the future to make certain this never happens again.

As I said on Tuesday, I believe the role of government is to help the truly needy, prevent systemic economic risk, and enact reforms that prevent the kind of crisis we are currently experiencing from ever happening again. Those reforms should focus on improving transparency and accountability in our capital markets -- both of which were lacking in the lead-up to the current situation.

However, what is not necessary is a multi-billion dollar bailout for big banks and speculators, as Senators Clinton and Obama have proposed. There is a tendency for liberals to seek big government programs that sock it to American taxpayers while failing to solve the very real problems we face.

This is a complex problem that deserves a careful, balanced approach that helps the homeowners in trouble, not big banks and speculators that acted irresponsibly. I again call on our lending institutions, where possible, to step up and help Americans who are hurting in this crisis.

Again, not one specific proactive idea. McCain is quick with the usual anti-Democratic rhetoric. And he has a populist point about no bailouts for irresponsible corporate actors rings. But does he intend to spend the next seven months campaigning as Mr. No? McCain notes that he is willing to consider proposals placed before him. He's apparently not interested in coming up with any of his own. Is that a model of economic leadership that will play well in the fall?

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Can the Bush administration run a war?

That is, of course, a rhetorical question. But if you needed any additional proof of the obvious answer, The New York Times provides it in a fine example of front-page investigative reporting that shows how a fledgling firm run by a 22-year old and by a licensed masseur has been the American military's lead supplier of arms--and shoddy and ineffective arms, at that--to the Afghan army. It's a tale of incompetence and absurdity. Due to the Times' probing, the company has been suspended by the military. But the real question is, will anyone in the military lose their job because of this massive foul-up? From Iraq to Walter Reed to this, Bush's adventures overseas have revealed how screwed up the military can be. That ain't a surprise. But heads ought to roll. Paging Congressman Waxman.

Update: That didn't take long. Waxman's House Oversight Committee has called the company's top brass, plus officials from State and Defense, to come testify.

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This site is absolutely hilarious. Keep clicking through. And remember, John McCain tips 9%.

It's a reaction to this site about Obama. Also good, but not as funny.

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In Pennsylvania Tuesday, Hillary Clinton spent the day personally fanning the flames of the Obama-Wright fire. "He would not have been my pastor," Clinton said. "You don't choose your family, but you choose what church you want to attend."

That's a fair point, but the the logical follow-up is, who would Hillary have chosen as her pastor? Kathryn Joyce and Jeff Sharlet delved into that question in our September/October 2007 issue:

When Clinton first came to Washington in 1993, one of her first steps was to join a Bible study group. For the next eight years, she regularly met with a Christian "cell" whose members included Susan Baker, wife of Bush consigliere James Baker; Joanne Kemp, wife of conservative icon Jack Kemp; Eileen Bakke, wife of Dennis Bakke, a leader in the anti-union Christian management movement; and Grace Nelson, the wife of Senator Bill Nelson, a conservative Florida Democrat.

Clinton's prayer group was part of the Fellowship (or "the Family"), a network of sex-segregated cells of political, business, and military leaders dedicated to "spiritual war" on behalf of Christ, many of them recruited at the Fellowship's only public event, the annual National Prayer Breakfast. (Aside from the breakfast, the group has "made a fetish of being invisible," former Republican Senator William Armstrong has said.) The Fellowship believes that the elite win power by the will of God, who uses them for his purposes. Its mission is to help the powerful understand their role in God's plan. ...

That's how it works: The Fellowship isn't out to turn liberals into conservatives; rather, it convinces politicians they can transcend left and right with an ecumenical faith that rises above politics. Only the faith is always evangelical, and the politics always move rightward.

Read the rest here.

—Justin Elliott

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