Is the McCain Campaign Imploding?

Has John McCain completely lost it? After a day in which it is revealed that at the same time the McCain campaign was running false advertisements claiming that one of Obama's advisors was Howell Raines, the former head of the Fannie Mae loan agency, the director of McCain's campaign, Rick Davis, was getting $15,000 a month from Fannie Mae through his lobbying company; that Obama was taking a 9-point lead in the latest Washington Post-ABC poll and a 6-point lead in a Fox News (yes, Fox!) poll; McCain announces that the banking crisis is so bad, he is suspending campaigning, and he won't be at the debate scheduled for Friday. What kind of presidential leadership is that? So, a president can only do one thing? If a hurricane hits at the same time terrorists strike, he will tell the country, "I'm busy working on the hurricane right now, I can't deal with the terrorists?" David Letterman on whose program McCain was supposed to have been on tonight is just brutal. (It's long, but worth it.)

Later Update: Ah, there's a method to McCain's madness. According to CNN, the McCain camp is proposing moving this Friday's debate to next week when the vice presidential candidates were supposed to debate and postponing that debate to some other time -- like after the election? Palin has been avoiding the press like the plague, and everytime she does open her mouth, it is clear she is not ready for prime time. The McCain camp is doing everything it can to keep her under wraps. My theory is that this whole deal about suspending the campaign and the debates is an elaborate ruse to get her of our debate with Biden.