CNBC Talking Head On McCain's Plan To Revise Bailout Plan To Buy Mortgages

I was watching a talking head on CNBC yesterday who was a Republican (surprise), but who was saying that he wished McCain did not introduce this new, new proposal to take the $300 billion out of the bailout. I think the concern was that part of the purpose of the $700 billion bailout was to provide some assurance to the credit market. This was a proposal that was heavily negotiated, and ACCORDING TO MCCAIN, he played a role in developing. Yet, down in the polls, McCain comes in wildly swinging and proposes to radically modify the bailout! Well, so much for providing calm reassurance. The markets now know that John McCain gets elected and carries through on his promise, then the bailout plan will be radically revised, so markets should NOT count on this $700 billion bailout to ease the credit crisis, because McCain may decide to totally revise the program.

Yup, I sure want the erratic, crazy, grandstanding hand of McCain on the tiller in this economy.