The McCain campaign thought it was falling into the abyss immediately after the crisis broke and McCain made his notorious "fundamentals of the economy are strong" statement. He buoyed himself by blasting away at Barack Obama's ties to the failed subprime merchants Fannie Mae and Freddie Mac, and giving a mad-as-hell populist speech in Wisconsin blasting the corruption and incompetence of Washington and Wall Street.Then, he made the conversation-changing move of "suspending" his campaign and calling for a delay of the first presidential debate so he could rush back to Washington, supposedly to help seal the financial bailout deal. McCain, incredibly enough, hasn't crashed to earth. The Wall Street Journal/NBC News poll has McCain only trailing Obama by 2 points, and the Gallup tracking poll has them tied.
McCain's challenge at every juncture has been to shake up the campaign. He's like a Democrat trying to win the White House in the middle of the Civil War after Sherman took Atlanta. Or like a Republican running in the Great Depression. That means making moves that mark him as different, but can be seen as risky or gimmicky, whether choosing Sarah Palin as his vice-presidential nominee or canceling the first day of the Republican Convention during Hurricane Gustav. And never looking back, in a three-yards-and-a-cloud-of-dust mentality.
Does Palin know enough to be a national candidate right now? No, but she can be mostly walled off from the press. Will attacking Obama on Fannie and Freddie open McCain to attack because one of his top aides lobbied for the organizations? Yes, but he can bulldog through it. Is going to Washington going to help much of anything? Probably not, but the symbolism matters. All the unconventional moves risk eroding McCain's reputation as a steady hand, but the alternative is simply being overwhelmed by the gravitational pull of the public's desire for change.