Sen. Majority Harry Reid blamed Sen. McCain for the breakdown of the “deal” that was brokered yesterday before the Straight Talk Jet’s wheels landed.  But did McCain really sour the grapes?  Let’s take a look.

On Sept. 19, Secretary Paulson said we needed to spend $700 billionto buy up all of these illiquid assets.  So, everyone worked through the weekend, and the Paulson Plan emerged by Monday.  When people started taking a look at the details (foreign banks, illegal aliens, non-mortgage debts), emails excited electrons and phone lines lit up on The Hill.  The people were having none of it, and the only ones listening were the House Republicans.

By Tuesday, enough Republicans were making a stink that there was a possibility that this thing wouldn’t pass.  Harry Reid, in a CYA moment, said that John McCain needed to come out for this bill in order for it to pass.  Later in the day, he even told reporters that he heard that McCain was going to endorse the bill, something McCain flatly denied.  (The Hot Air link has a good chronology on these events.)  Democrats, even with the majority, don’t want to get stuck holding the bag if the bailout blows up.

Bob Shieffer, by no means a McCain fan, reported that Paulson, seeing the imminent failure of the bill, begged Lindsey Graham to call McCain and get his help.  Now, I have a theory on how this lead to the McCain suspension.  Obama got wind of this plea for help, so he called McCain to try to release a joint statement.  According to Nancy Pfotenhauer on Fox News Channel, when Obama called, he left no inkling what he wanted to discuss.

Meanwhile, McCain got Graham’s call.  He later returned Obama’s call and told Obama he was going back to D.C. to work this out.  He offered for Obama to come with him in a bi-partisan way, but Obama declined.  So, McCain made his announcement.  Obama came out and said he called McCain first.  At McCain’s request, Bush called Obama back to  the White House for a meeting (I think that was PURELY political on McCain’s part).  This ends my speculation.

McCain said he would commence his suspension after his speech at the Clinton Global Initiative.  While he was still there, the Democrats came out and said a deal had been reached in an effort to embarrass McCain.  The House Republicans made an announcement that they were not on board minutes later.  Obama and McCain arrive.  The big blow up happens at the meeting at the White House, and the Democrats blame McCain for the whole thing.  While Reid was making his statement this morning, the House Republicans were extolling the help that McCain offered. 

McCain and Obama are now getting ready to debate.  McCain is headed back to D.C. afterwards.  Not sure what Obama will do.  If McCain walks out of the Senate tonight with the House GOP praising him for helping them get their concerns voiced and somehow included in the Democrats’ bill, we could see another whole new ballgame (as long as McCain doesn’t lose it at the debate).

Now, let’s just hope Palin has been seriously sandbagging these interviews.  Ugh.