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September 26th, 2008
04:06 PM ET

Doom and gloom

Pres. Bush made the case for his administration's financial bailout plan directly to the nation on live television Wednesday night.

Pres. Bush made the case for his administration's financial bailout plan directly to the nation on live television Wednesday night.

Editor’s note: On AC360° Thursday night, Anderson Cooper asked if it did any good for John McCain to suspend his campaign and go to Washington to help resolve the financial crisis.  Here is what GOP Strategist Ed Rollins had to say.

Ed Rollins
GOP Strategist and Former Huckabee National Campaign Chairman

COOPER: Do you think it helped John McCain's campaign?

ROLLINS: No, absolutely not.

And I would have said this ahead of the meeting. I think the bottom line is that - because this has happened in two weeks - these people represent Middle America. At least they think they do. And three weeks ago, four weeks ago, they weren't about Wall Street. They weren't about - they were about small-town America, worried about different things.

Now, all of a sudden, the world is coming to an end. The president gave - I have been around this business 40 years - the president gave the most doom-and-gloom speech I have ever heard in my life last night. If everybody didn't rush to their bank and pull their money out today, I would be shocked.

And so, all of a sudden, they're getting bombarded by little people out there, saying, what is this? Stick up for me.

COOPER: I have got to tell you, watching the president last night give that speech, it was like watching him in Jackson Square in New Orleans after Hurricane Katrina. I mean, he did not seem to be there.

ROLLINS: No, he wasn't there.

COOPER:
I mean, he was physically there, but I...

ROLLINS: No. It was not - it was not his words.

soundoff (24 Responses)
  1. Annie Kate

    I know I'm in the minority but I'm not of the opinion that McCain went back to DC for his campaign. Everything right now is being interpreted in terms of the campaign and there are other things in life besides the campaign. The economy from what CNN and all the other press is telling us is on the brink of disaster or already there. As a responsible Senator I would expect my Senator to be in DC working on this whether he was a Presidential candidate or not.

    We pay these Senators to do a job. The candidates haven't done that job in almost a year but I don't see them turning their salaries back in. So they still have the responsibility of seeing that needed legislation is passed. If we don't want candidates to be going back to DC to vote or debate on things, then we shouldn't pay them for the year+ that they spend campaigning for President. I can guarantee you that the business world wouldn't.

    Annie Kate
    Birmingham AL

    September 26, 2008 at 9:10 pm |
  2. Jeanne

    Does McCain think we score 45 or less on IQ tests ? As an Arizonan, represented by him for years, I'm so embarrassed. If he really put country first, he would have crafted oversight regulations to govern Wall Street during his many years in the Senate. A rash, fanfared trip to Washington now just Isn't convincing. Someone ought to point that out to him !

    September 26, 2008 at 9:01 pm |
  3. anthony williams

    about hte 700 billion dolla plan. why dont the government give every tax payer $500,000. but for the receipants, they would have to pay taxes on it first. 2nd, for any home owner whos house went into foreclosure would have to pay the banks back half of the balace that was left on the mortgage. 3rd. all debt and accounts being deliquent would have to be paid off. 4th. ALL credit card debt would have to be paid off. 5th. for six months, everyone would have to put $90,000 in the bank of their choice, but the money WOULD HAVE TO SIT FOR 6 MONTHS. this way, the government would have helpd the american people, the cc companies, the banks, and the mortgage industry. then people would spend, shop, be able to buy gas, food and etc. the economy would boom for at least 4 yrs. plus for the responsible americans who are not in thos distress situtations, they would have 500 k for being good steuarts.

    September 26, 2008 at 7:34 pm |
  4. Kim Cooke

    How about we use the 700 billion to pay the over due mortagage payments for the struggling to keep their homes and force the banks to re-finance with a decent fixed rate. At least then I don't feel like I am paying my taxs to the fat cats who got us in this mess. How about all the small business that are closing not because we can't borrow $ like Bush says but because our customers are afraid to spend their $. And why can't someone ask Bush how it was that in Feb & June & July our economy was just fine but all the sudden the sky is falling. Once again the Bush administration painted a lie up to the american people and when you pull the curtain aside you find the ugly truth.

    September 26, 2008 at 7:19 pm |
  5. Pat

    President Bush "not being there" doesn't surprise me. I haven't thought "he's been there" since he took office! And if I'm mistaken and he actually "has bee there" this man has one heck of alot of explaining to do! He'd better come forth with a plausible reason quickly!

    As to date, he and his so called administration and advisers have put their Nation in the worst position it's been in for decades. Look where we are now! And that's not even touching on the Iraq War and that mishandled mess or Katrina and that mishandled mess, or the care for those they sent to Iraq under their jurisdiction and orders and that mishandled mess, or the lives lost in Iraq needlessly on an invalid call to war and that mishandled mess, or the current percentage of lost and not found jobs and that mishandled mess and I could go on but what's the sense? They haven't done one thing to date to rectify any of the foregoing so what's the chances they will rectify the present economic disaster of which you are both now speaking to? In my opinion – NONE! Thank you.

    September 26, 2008 at 6:53 pm |
  6. Mystic

    Government resolving a human problem with $700 billion is only temporary because such actions by many governments in various countries in the past have not solved the problem.

    The root cause of human problems:

    “The human thinking is born out of some sort of neurological defect in the human body. Therefore anything that is born out of human thinking is destructive”- quote by UG.

    Why there is no solution to human problems?

    “We have no future at all as long as we try to get the answers from the past that is dead. Anybody who says, “Look back or go back,” has no answers to offer us”-quote by UG.

    What Government should do now?
    Do nothing.

    September 26, 2008 at 6:41 pm |
  7. nate

    Curious George should show more excitement and passion in his speeches!

    September 26, 2008 at 6:33 pm |
  8. Gentile

    What problem,there's no financial poblems.Capitalism,did not work,it's as simple as that.7 letters,starts with a B,bail-out,rescue from a dire situation.Also 7 letters that start with a B band-aid stopgap solution to a problem.Stopgap,means temporary substitute.7 Letters that start with a B backing,help aid,assistance,approval,endorsement.777,if the banks want out of home loans for 50 cents on the dollar,fine,put all these homes in the newspaper,and there prices,and the American people will buy them all.Just let me use my 401k money,with no penalty,or taxes,and i will buy one myself.If not,then socialism.

    September 26, 2008 at 6:29 pm |
  9. Beverly Stansfield Lindenhurst IL

    This discussion was great. I was rather horrified myself by what Bush had to say. I felt as if he wanted to have all of us panic and he was so zombie like.I actually feel like I'm watching some strange soap opera
    about politics. It just keeps getting crazier every day but somehow strangely fascinating to watch. I don't think I have ever watched so much news in my life. Keep up the good work.
    Bev, the TV Zombie

    September 26, 2008 at 6:18 pm |
  10. CRAIG WILLIAMS

    This is nothing more then a mess. President Bush spent 12 minutes talking to the American people how we got are selfs into this. Thank alot President G.W BUSH

    September 26, 2008 at 6:06 pm |
  11. Mark

    "This really revolutionary revolution is to be achieved, not in the external world, but in the souls and flesh of human beings."

    -Aldous Huxley

    WAKE UP PEOPLE!!

    September 26, 2008 at 5:53 pm |
  12. Javier perzabal

    I'm a 23 year old illegal Immigrant, student I work and pay taxes, If the bail out deal goes through, and if the money used makes a profit in the future. Will the millions of illegal immigrants who pay their taxes receive a piece of the earnings?

    September 26, 2008 at 5:43 pm |
  13. jim

    The doom and gloom is tactics by the Democrats to give the bail out by preaching doom and gloom. I believe we are in much better shape than we were in the Carter Presidency. 18% unemployment, 21% prime rate and 18% unemployment.. I find it strange why CNN hasn't compared this recession to the one with Jimmy Carter.

    September 26, 2008 at 5:28 pm |
  14. JC-Los Angeles

    How could President Bush not give a doom and gloom speech? Post-9/11, our economy has been artificially propped up by erroneously low interest rates, 100% pure, American mortgage fraud and absolutely no oversight at any level of government or industry.

    The idea that the brightest minds reside on Wall Street and in Washington has been proven wrong 700 billion times.

    The connected few always think they're the brightest; that's kind of like the belief that rich kids have learning deficiences while poor kids are just stupid.

    There is no place to hide anymore for the horrendous leaders who made far too much doing far too little with no skill sets other than connections.

    September 26, 2008 at 5:22 pm |
  15. Mystic

    Government resolveing a human problem with $700 billion is only temporary because such actions by many governments in various countries in the past have not solved the problem.

    The root causeof human problems :

    “The human thinking is born out of some sort of neurological defect in the human body. Therefore anything that is born out of human thinking is destructive”- quote by UG.

    Why there is no solution to human problems ?

    “We have no future at all as long as we try to get the answers from the past that is dead. Anybody who says,”Look back or go back,” has no answers to offer us”-quote by UG.

    September 26, 2008 at 5:15 pm |
  16. earle, provincetown

    Mc'Cain doesn't want all that money going to something other than perpetuating (prolonging) the,"100 year war"? How's he gonna muster that kind of cash, if it 's gone? Hek ,he'll have to go to the Iraqee's to borrow it, or maybe Haliburton can lend him a few Billion, huh, my friend?

    September 26, 2008 at 5:05 pm |
  17. Sherri

    This is what I don't understand, if John McCain went to negotiate and assist with this financial crisis and help the Republicans come in agreement. Then why was not both candidates called in at the same time to help with this issue since Bush had to get on TV and get Barrack Obama to come to the White House? Even though commentators say that this is a typical McCain behavior. I think this was a political ploy for McCain to make himself look good! It's almost if he ran home to get help from his parents.

    September 26, 2008 at 4:59 pm |
  18. Marcus Portland, Oregon

    This whole economy is shot. I think this whole thing was planned, and we the people suffered more than bush and "His People". whether you want to admit or not... this contry is divided but not by Race. It is divided by the rich and the poor, and its very sad to see this in America. America deserves to loose a few pegs and I think this is a reality check to America.

    September 26, 2008 at 4:54 pm |
  19. Heather,Ca,US

    I knew this day was eventually going to come for a long time. The thing is it's one thing to talk about and read about the various events that have happened this year that led to this ultimate financial disaster, it's different when the President of our country goes on live tv infront of us and the world to provide a simple summary of what happened. He made it real. I remember the moment on 9/11 when he was told that we had been attacked by terrorists. I watched the expression of anger on his face. I watched him the other night, his face was pale and he looked scared to death. My husband said he could hear the wood podium making noises because his hands were trembling and he was holding it tightly. I watched him lick his lips and noticed how red they were. He had beed licking them out of anxiety/nerves. I don't blame Bush for this. I think Bin Laden got what he wanted indirectly from this mess. He wanted to destroy us financially and due to measures taken to correct and fix the market after 9/11 it happened. This mess is so big and complicated that it just can't be blamed on one person. Many people engaged in fraud and the FBI and the IRS will get them. I just wish it was before we end up paying with our tax dollars. No matter what happens I won't remember this and think of Bush being the cause,I will think of him trying to do the right thing.

    September 26, 2008 at 4:51 pm |
  20. Christa

    John McCain is said to be a Maverick but the only thing that he has demonstrated these past few days is that his behavior is erratic.

    September 26, 2008 at 4:48 pm |
  21. Jim

    Ed, I pulled my money out of banks long ago,I'm stocked up on Coffee
    & other suplies- let the market collapse- Let all the banks go under I'm prepared.

    September 26, 2008 at 4:39 pm |
  22. Cindy

    Ed is completely wrong. Of course the dems will yell to high heavens that McCain going to see what he could do to help push this bill through was the worst thing that he could do. But in reality for the reps it is not seen that way. It shows who is willing to take control and do what ever needs to be done to get problems solved. Instead of sitting back and allowing others to do all of the work yet wanting in on the results like Obama.

    And Anderson needs to keep his opinions to himself. What happened to being fair and non biased. I'd love to see him get up in front of the country and spell out this situation at hand so everyone can understand it. Don't think he could do it.

    I for one thought Bush told it like it was and helped more people understand the situation.

    Not everyone looks at things with dem glasses on! Which it's obvious that Mr. Cooper does.

    Cindy..Ga.

    September 26, 2008 at 4:24 pm |
  23. Maureen / Newman, California

    It really is unfortunate that Bush spoke on television the other night. 72% of America does not trust him. Now he is just the boy crying wolf. Legislators will have a big task of explaining the necessity of this bill, in addition to creating the bill.

    September 26, 2008 at 4:15 pm |
  24. Russell Bowles

    How do you pay your bills when your hundred thousand a year job has been sent out of the country and being done for five dollars a day.Free-trade with no minumum wage or border controls is corporate slavery,and McCain is the biggest free-trader there is.He and his merry band of millionaires are destroying the middleclass. I can see McCain sitting on his plantation front porch,telling Obama to hurry up or he will ship his job to china.

    September 26, 2008 at 4:08 pm |