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...More than any individual member on Capitol Hill, no one has more to lose in this debacle than John McCain. By claiming to suspend his campaign and pledging to help bring House Republicans on board, McCain put much of his political capital on the line - to the point that his staff were already claiming credit for the legislative coup Monday morning on the assumption that it would pass. "This is very bad for McCain," said Clyde Wilcox, a government professor at Georgetown University. "So he interrupts his campaign to fly to Washington to deliver a deal, and then cannot deliver...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

...McCain was almost as quick to throw blame around as his GOP colleagues, and his target was, no surprise, Barack Obama. "From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was attacked by the Democratic leadership: Senators Obama and Reid, Speaker Pelosi and others," said Doug Holtz-Eakin, a McCain senior policy adviser. "Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

...Obama, predictably, swiped back at McCain. "This is a moment of national crisis, and today's inaction in Congress as well as the angry and hyperpartisan statement released by the McCain campaign are exactly why the American people are disgusted with Washington," Obama spokesman Bill Burton said in a statement. "Now is the time for Democrats and Republicans to join together and act in a way that prevents an economic catastrophe." Given Monday's blame game, the odds of both sides rising to the occasion don't look very good...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

...John McCain and Barack Obama are both selling theories about what kind of leader America needs in the 21st century. But the financial crisis yanked their notions out of the lab and tested them in real time, under a magnifying glass. And now we have a much clearer idea of what we would risk with either...

Author: /time Magazine | Title: The Candidates' Test of Leadership | 9/30/2008 | See Source »

...often happens in moments of crisis, the candidates were themselves, only more so. McCain was the action hero, who promised to do the brave, hard things that no one else could. Fire the SEC Chairman! Suspend the campaign! Let's Make a Deal! He was a human diorama of the Great Man theory of history. Of course, getting credit for bringing all parties to the table to reach a historic agreement that pretty much everyone hates may make him wonder if action is overrated, especially after his campaign's self-congratulatory statements ended up being premature. Even with stakes higher...

Author: /time Magazine | Title: The Candidates' Test of Leadership | 9/30/2008 | See Source »

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