Bailout deal ends the bloviating

September 26, 2008 1:01:11 PM PDT
So all the bloviating turns out to mean nothing. Nada. Zippo. John McCain makes one of his patented shoot-from-the-hip political "gambles" and says he's suspending his campaign (which means his activities today, he stopped prepping for the debate on Friday) and he rushed to Washington to help hammer out the $700 billion bailout bill.

Turns out they didn't need him.

And they didn't need Barack Obama either.

Democrats and Republicans apparently are doing just fine without the two Presidential candidates, in hammering out a compromise.

The broad agreement:

*A panel to have oversight of how this huge infusion of taxpayer money is spent.

*A way for taxpayers to get some equity in the companies getting government financial aid.

*Limits on executive compensation for companies receiving government aid.

*The one sticking point: how to help homeowners facing foreclosure.

Jim Dolan is in Washington for us tonight, on the bailout compromise. He'll have the hits, runs and errors of what happened today, and reaction.

As for the Presidential candidates - they're showing up in the Oval Office today - one giant photo opp with President Bush. Mr. Bush took to the airwaves last night, trying to offer a primer on the financial crisis. He could have used a little infusion of human compassion as he explained the debits-by-the-window, credits-by-the-wall ins and outs of how the mortgage market works. And there are many who wondered why it took him so long to address the nation - although it's never quite calming to have the President of the United States use terms like "panic," or "severe recession"-- so maybe it's better that he waited to speak.

For John McCain, especially, the issue now is explaining his desire to push back Friday night's debate, and offering to reinstate it -- because the debate apparently is going ahead, no matter what. That's what Barack Obama says, and that's what the University of Mississippi says.

Our political reporter Dave Evans is in Mississippi for the debate, and he'll have the latest on the preparations and the high drama, tonight at 11.

And one more political note - did you catch the latest Sarah Palin video? It shows Palin in her Assembly of God church in Wasilla, Alaska, getting some sort of anti-witchcraft prayer/spell put on her by a pastor from Kenya named Thomas Muthee. If you haven't seen it, or if you just have to see it again, you can, by clicking HERE.

Palin was at the time Mayor of Wasilla.

"Come on, talk to god about this woman," Muthee says, asking Palin to be protected from "every form of witchcraft."

"We declare, save her from Satan. Make her way, my god. Bring finances her way even for the campaign in the name of Jesus ... Use her to turn this nation the other way around."

No matter whether you believe in this stuff or not, one thing is crystal clear: If John McCain had done his vetting of his running mate, all this would have come out before, no?

We're also following a deadly Taser incident involving an emotionally disturbed man and New York cops. Today, in an unusual move, the NYPD admitted that the officer at the scene violated Department guidelines when he used the Taser on the man - who was naked, distraught and standing on the ledge of a building last night in the Bed-Stuy section of Brooklyn.

There was nothing below the man, like an inflatable cushion, to absorb the fall. He tumbled at least 10 feet and fell on his head. Tonight, the family of the victim will hold a vigil. Jen Maxfield is there for us.

We'll also have any breaking news of the night, plus Lee Goldberg's AccuWeather forecast, which includes rain on the way, and Scott Clark with the night's sports.

I hope you can join Liz Cho and me, tonight at 11.