The one thing John McCain is not in short supply of is chutzpah. Last week McCain was lying about former Freddie Mac CEO Franklin Raines advising Obama, both in his ads and on the stump. Just this morning, McCain spokesman Nicole Wallace repeated the lie on Morning Joe (and of course Scarborough did not challenge the lie.)

McCain's chutzpah is evidenced by the fact that McCain campaign manager Rick Davis made millions of dollars lobbying for Fannie Mae and Freddie Mac:

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say. . . . “The value that he brought to the relationship was the closeness to Senator McCain and the possibility that Senator McCain was going to run for president again,” said Robert McCarson, a former spokesman for Fannie Mae, who said that while he worked there from 2000 to 2002, Fannie Mae and Freddie Mac together paid Mr. Davis’s firm $35,000 a month.

(Emphasis supplied.) Lying about Obama's advisors while doing that he claims to criticize. That is John McCain in a nutshell - a lying, unprincipled, incompetent ideologue. McCain is a disgrace.

By Big Tent Democrat, speaking for me only

I have friends who are far more financially savvy than I am, and they say they are very frustrated with this bailout procedure. They say no one is asking the government what percentage of the dollar they are going to pay for these non performing assets? Is it 100%.....or 20 %? what is it? They say this is very important.

Does anyone know the answer?

One more thing: The AP reports:

"The government could contract with private companies to manage the assets it purchased under the rescue" The proposal does not require that the government receive anything from banks in return for unloading their bad assets. But it would allow the Treasury Department to designate financial institutions as "agents of the government," and mandate that they perform any "reasonable duties" that might entail.

The bailout, as we've mentioned before, would be sheltered from court review. There's something wrong with this picture. Care to fill in what it is?

Sen. Barack Obama's campaign has confirmed he is closing up shop in North Dakota.

An Obama spokeswoman, Amy Brundage, confirmed Sunday that the campaign's North Dakota staffers were being sent to Minnesota and Wisconsin, where recent polls have shown a tight race between Obama and Republican John McCain.

McCain has no offices or staffers in the state, which has gone Republican since 1964 when it voted for Lyndon B. Johnson.

Obama's campaign is stressing the benefits of its presence since July to the downticket races: [More...]

Gov. Sarah Palin drew huge crowds near Orlando, FL today. But consider:

She went to perhaps the easiest place in Florida to get a large Republican turnout, stuck mostly to the themes she's hit since the Republican convention and took no questions from reporters or the crowd.

...But Biden made four stops in his two days, and ventured into Republican strongholds like Fort Myers and Sarasota. He took questions from the audience at each stop and did interviews with local media.

She can rally the base, but the question as I like to frame it is, are there more of them or more of us? Turnout will be key.

Update: The LA Times reports Palin's political capital is eroding in Alaska.

While some of us are watching tv and commenting there, I don't want to leave anyone out.

Here's an open thread for all other topics.

The Emmys are on tonight. Its website is really lame, but AOL already has 341 photos from the Red Carpet up.

The Red Carpet area is really small and they are packed in like sardines. It's also very hot. The interviews are ongoing now on E! There was also some kind of threat so some of the stars had to walk part way. [More...]

Speaking in North Carolina today, Sen. Barack Obama said there should be no blank check for Wall Street.

Obama charged that Republicans have run the economy "into the ground," as he outlined some broad concepts for reform of the financial industry.

"First, there must be no blank check when American taxpayers are on the hook for this much money," Obama said. "Second, taxpayers shouldn't be spending a dime to reward CEOs on Wall Street while they're going out the door."

Obama also said taxpayers must be protected, be able to recoup some of the investment they might make in a bailout and provide assistance for homeowners at risk of losing their homes.

More...

Early voting is already open in some states. Up to 1/3 of voters may vote before Election Day. I plan to vote early, just to avoid any problems and lines at polling places. I think it's a surer way to make sure my vote gets counted.

I'm wondering about the effect of any "October Surprise." It will be too late if it comes after enough people have voted.

Encourage everyone you know at work and in your social life to vote early. Don't take a chance on a last minute sleazy attempt by Republicans to change people's minds.

Some things I'm reading:

• Yale Law Prof Jack Balkin on the $700 billion Bush bailout plan.

It is not enough, however, to revel in the irony or the hypocrisy of the Administration's current plans. Two things are central: one is solving the financial crisis, and the other is doing so in a way that preserves constitutional values of oversight, checks and balances, and accountability to the rule of law. The government must have the power to act, but only the powers it actually needs, and not those it would enjoy having for the foreseeable future. It must be able to make decisions, but not without any accountability or oversight. That is what the debate is and should be about, and even though it nominally concerns the passage of an emergency measure, it is ultimately a debate of constitutional proportions.

More...

South Dakota, which already has a very strict law on abortion, has an even stricter one on the ballot in November, that would ban abortion in all cases except rape, incest and (narrow) instances of necessity to protect the life or health of the woman.

First, the current law:

The legislature passed a law requiring doctors to tell women that an abortion would "terminate the life of a whole, separate, unique living human being." Each woman must be told that abortion increases the risk of "suicide ideation and suicide," a medically disputed assertion, and must be offered the chance to view a sonogram. A 24-hour waiting period is required.

[More...]

I am still tied up and can't take the time to discuss the issues here, but I wanted to state what I think the most important question of the coming days for me is - will Barack Obama lead the Democrats in a fight against the 700 billion dollar blank check the Bush Administration is asking for to bail out Wall Street?

This is a 3 AM moment. The time to lead is now. We will find out a lot about Barack Obama in the coming days. We already know what John McCain is, an incompetent ideologue. Let's hope that Obama proves himself a leader.

By Big Tent Democrat, speaking for me only

Mark Knopfler and Eric Claption.

Saturday Night Live opens with a McCain skit. The character playing McCain is very unconvincing. He looks nothing like him, way too young, and doesn't sound like him either. (Added: the Alaska segment was very funny.)

This is an open thread.