LATE FRIDAY AT BEST

It seems to me that McCain has a lot to lose if the bailout bill goes through today. McCain has suspended his campaign and he asked the Election Committee to postpone the Friday night debate. The Election Committee declined the offer.


If the bailout bill were to be approved today, McCain would be forced to tuck tail and make it to the debate. If he is in Washington working on the bailout plan last Friday or until Friday night, then he will receive a "hall pass". It has been said that democrats have accepted a deal. Of course, there are not enough democrats available to pass the bill. The final vote will likely include no votes from both sides of the isle. Now that the democrats have reached acceptable terms with the administration, assuming that the rumors are true, then it is up to republicans to grab the tug of war rope in order to pull the bill back to the right as much as they can. Republicans are well aware of the needs of John McCain. They will be in no hurry to conclude this deal before the scheduled presidential debate.


My guess is that a compromise will be reached by late Friday or by first thing Monday morning. The stock market is locked into a trading range until it is clear that a bill will be reached.