Breaking – Commission on Presidential Debates releases statement

Oxford, Miss., September 24, 2008 – “The Commission on Presidential Debates (CPD) is moving forward with its plan for the first presidential debate at the University of Mississippi in Oxford, Miss. this Friday, September 26. The plans for this forum have been underway for more than a year and a half. The CPD’s mission is to provide a forum in which the American public has an opportunity to hear the leading candidates for the president of the United States debate the critical issues facing the nation. We believe the public will be well served by having all of the debates go forward as scheduled.”

Wa-Po on McCan't-make-it's debate decision as campaign strategy

McCan’t if-I’m-not-winning-I’m-not-spending economic policy is as impressive as his running mate’s you-hoo-I-see-you approach to foreign policy – the Washington Post has the story on his strategy.

Sen. John McCain’s surprise announcement that he would temporarily suspend his campaign to return to Washington to help broker a deal to save the financial industry is the latest in a series of political gambits surrounding the financial crisis on Wall Street, and is sure to reshape political calculations and voter attitudes around the volatile issue.

The move is an obvious attempt by McCain and his campaign to paint the Arizona senator as above politics, willing to put aside his campaign for the good of the country.

It comes as two new national polls — including one conducted by the Washington Post — show McCain slipping in the head-to-head matchup against Barack Obama due in large part to voters’ inclination to trust the Illinois senator to solve the financial problems of the country.

The McCain campaign believes that their candidate is at his best when he is seen as a deal-maker, willing to reach across party lines to get things done for the good of the country. This economic crisis, they believe, provides McCain a chance to show the sort of leadership that voters value in the Arizona senator. (emphasis added) Continue reading “Wa-Po on McCan't-make-it's debate decision as campaign strategy”

Wa-Po on McCan’t-make-it’s debate decision as campaign strategy

McCan’t if-I’m-not-winning-I’m-not-spending economic policy is as impressive as his running mate’s you-hoo-I-see-you approach to foreign policy – the Washington Post has the story on his strategy.

Sen. John McCain’s surprise announcement that he would temporarily suspend his campaign to return to Washington to help broker a deal to save the financial industry is the latest in a series of political gambits surrounding the financial crisis on Wall Street, and is sure to reshape political calculations and voter attitudes around the volatile issue.

The move is an obvious attempt by McCain and his campaign to paint the Arizona senator as above politics, willing to put aside his campaign for the good of the country.

It comes as two new national polls — including one conducted by the Washington Post — show McCain slipping in the head-to-head matchup against Barack Obama due in large part to voters’ inclination to trust the Illinois senator to solve the financial problems of the country.

The McCain campaign believes that their candidate is at his best when he is seen as a deal-maker, willing to reach across party lines to get things done for the good of the country. This economic crisis, they believe, provides McCain a chance to show the sort of leadership that voters value in the Arizona senator. (emphasis added) Continue reading “Wa-Po on McCan’t-make-it’s debate decision as campaign strategy”

Breaking – McCan't-make-it wants out of Friday's Debate UPDATED

UPDATE in comments

The Sun Herald has the story

Republican John McCain said he wants to delay the international affairs discussion to focus on solving the nation’s financial crisis. McCain said that the Bush administration’s Wall Street bailout plan seemed headed for defeat and a bipartisan solution is urgently needed.

Democrat Barack Obama responded by saying that it was now more important than ever for the two to debate, given that one of them soon “will be responsible for dealing with this mess.”

Streets are blocked and campus security is tight. Ole Miss has been holding seminars, voter-registration drives and other events leading into what’s supposed to be McCain and Obama’s first debate since they were nominated at their parties’ national conventions last month.

The University of Mississippi, in the north Mississippi city of Oxford, has spent more than $4.5 million to prepare for the debate. Most of the money is from private donors.

So, anyone not already questioning McCan’t-make-it’s judgment, is certain to have questions now – like who needs a President that can’t meet his other obligations when there’s a crisis?  Continue reading “Breaking – McCan't-make-it wants out of Friday's Debate UPDATED”

Breaking – McCan’t-make-it wants out of Friday’s Debate UPDATED

UPDATE in comments

The Sun Herald has the story

Republican John McCain said he wants to delay the international affairs discussion to focus on solving the nation’s financial crisis. McCain said that the Bush administration’s Wall Street bailout plan seemed headed for defeat and a bipartisan solution is urgently needed.

Democrat Barack Obama responded by saying that it was now more important than ever for the two to debate, given that one of them soon “will be responsible for dealing with this mess.”

Streets are blocked and campus security is tight. Ole Miss has been holding seminars, voter-registration drives and other events leading into what’s supposed to be McCain and Obama’s first debate since they were nominated at their parties’ national conventions last month.

The University of Mississippi, in the north Mississippi city of Oxford, has spent more than $4.5 million to prepare for the debate. Most of the money is from private donors.

So, anyone not already questioning McCan’t-make-it’s judgment, is certain to have questions now – like who needs a President that can’t meet his other obligations when there’s a crisis?  Continue reading “Breaking – McCan’t-make-it wants out of Friday’s Debate UPDATED”

Cat scratch fever strikes insurance industry – State Farm has bad case

If you been reading the comments to the post about the Louisiana Legislature chances are you won’t be suprised the story Business Insurance News linked as Cat bond activity levels off. (Large H/T to Editilla at the Ladder)

It seems the cats scratched the subprime market a lot deeper that earlier reports suggested and now the cat bond market is suffering from cat scratch fever.

Activity in the markets for industry loss warranties and catastrophe bonds has lessened in 2008, after several years of rapid growth.

Cat-bond activity, in particular has taken a knock, as competition from a softening reinsurance market and waning interest from investors have taken their toll.

After a record year for industry losses in 2005, there were three record years in terms of catastrophe-bond issuance…

Corporate-bond markets now offer more opportunity and so demand for insurance-linked securities has fallen…Cat-bond issuers—namely insurance and reinsurance companies that seek coverage from capital market investors— are in competition with other issuers of bonds, in particular issuers of corporate debt—where credit spreads have widened…This means that the cost of insurance-linked securities has risen as investors now require higher interest payments than in the past to entice them into buying cat bonds…

A number of cat bonds have been devalued…because the investment-banking counterparties were thought to be exposed to subprime exposures. (emphasis added)

State Farm has been in a different kind of cat fight since Hurricane Katrina and this report suggests its running a pretty high fever – otherwise the delusional views cited in the story are just more of the examples of State Farm spinning allegations as fact. Continue reading “Cat scratch fever strikes insurance industry – State Farm has bad case”

House Agrees to Extend NFIP

Despite industry opposition the House has voted to extend the National Flood Insurance Program for 7 months. The time period will be useful for two reasons:

  1. It will allow the Dems time to work out a compromise bill.
  2. We’ll likely have a new President in Obama who has committed his support to finding solutions to a deeply flawed system.

Sean Reilly at the Mobile Press Register has the story:

A seven-month extension of the federal flood insurance program won House approval late Tuesday night, but still needs Senate passage to allow agents to keep writing new policies past next Tuesday. Continue reading “House Agrees to Extend NFIP”