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This Day

McCain Suspends Campaign To Deal With Financial Crisis (2008)

This Day

Jody Avirgan & Radiotopia

History

4.6982 Ratings

🗓️ 8 October 2024

⏱️ 19 minutes

🧾️ Download transcript

Summary

It's October 8th. This week in 2008, John McCain announced that he was suspending his campaign in order to focus on dealing with the fallout of the financial crisis.

Jody, Niki, and Kellie discuss why McCain felt it was necessary to stop running for president -- and how the move ultimately backfired on him.

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Our team: Jacob Feldman, Researcher/Producer; Brittani Brown, Producer; Khawla Nakua, Transcripts; music by Teen Daze and Blue Dot Sessions; Audrey Mardavich is our Executive Producer at Radiotopia


Transcript

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0:00.0

Hello and welcome to this day in esoteric political history from radiotopia.

0:07.0

My name is Jody Avergan.

0:09.0

This day, the first week of October 2008, which is another big recent election moment in the wake of the spiraling economy, the housing collapse and the proposed massive bailout of banks that were over leveraged on credit default swaps and so forth,

0:25.0

there's also a huge election, remember that? Huge election, entering its final month.

0:29.5

It is Barack Obama versus John McCain.

0:32.8

And the banking crisis provides a really fascinating test case

0:36.0

of leadership in crisis for these two candidates,

0:38.9

which I would argue is perhaps the most important thing

0:41.4

you're trying to gauge when you're selecting a leader, how do they respond to an unforeseen crisis?

0:46.0

And how does John McCain respond?

0:48.0

Well, he suspends his campaign.

0:50.0

We'll get to why he did that for reasons that I'm sure at the time felt very valid

0:54.4

but we'll cut to the chase and say that it was not really an effective move both

0:58.3

when it came to addressing the crisis itself and when it came to making the case that he should be president the politics of it all

1:04.6

so let's all go back to the fall of 2008 the most stressful and crazy moment in

1:10.0

modern political history until you know basically the last 10 years or so but here as

1:16.0

always Nicole Hammer of Vanderbilt and Kelly Carter Jackson of Wausley hello there

1:20.1

longing for those days when the wheels were coming off the u-gond. I was like basically the first thing I ever covered in my journalism career and I remember thinking like oh well maybe I just covered the craziest thing I'll ever cover and then I definitely had that feeling in 2016 and I actually think in 2016 that might have been right I

1:44.6

walk around with the idea they're like I've probably seen the most stressful thing I'll

1:47.5

ever see not 20 21 well yeah I. It's all fall out from 2016. But yes. And of course, you know,

1:59.4

listeners, we're just coming off of our two-part special on October surprises.

2:02.5

We name check this, talked about it a little bit,

...

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