So Secretary Paulson, Chairman Bernanke, Senator Dodd and Representative Frank have been working all week to craft a reasonable response to the current financial disaster. By all accounts Senator Obama has been in contact with all of them behind the scenes. As of this morning we had cause to believe that their hard work had been rewarded and we had a compromise that did not give away the farm but saved sufficient face for the administration so that it could sign the bill.

Well John McCain blew into town, after several non campaign stops, talked to the Republicans and then had a meeting with the president and a lot of other people. After the meeting a number of conservative Republicans announced that they would not support the bailout because they had a better idea.

Which idea consists of private insurance for the mortgage backed securities and removal of the capital gains tax for anyone who might buy these securities. Um, I know that these guys are weak on history. but AIG provided private insurance for mortgage backed securities and it failed maybe two weeks ago.

So if John McCain is really what he claims to be: a maverick who goes against his party to forge bipartisan compromises for the good of the country. He needs to show it right now. Please tell these clowns to shut up and get with the program. Washington Mutual just went under and others are likely to follow. Can we not dither much longer? Particularly in support of idea which are simply ludicrous - and I am being kind here.

For another, more conspiratorial, view see Open Left. It may also be time for Obama to twist a few arms.