New McCain Attacks Echo Rove Advice

Is John McCain's campaign taking political directives on how to handle the current economic crisis from Karl Rove?

A day before the Arizona Republican began criticizing Barack Obama for taking economic advice from former Fannie Mae executive Frank Raines - a dubious claim that was challenged even by the source who first reported it - the former Bush strategist urged McCain to do just that.

During an appearance on Hannity and Colmes on Wednesday, Rove outlined what he thought would be the best counterattack for McCain to launch the opposition's way: mainly, tie the current financial and housing market crisis to the Democrats and play guilt by association with Obama.

"I do think that McCain and Palin ought to identify that the source of this contagion, the thing that started these dominos going down was the misbehavior of Fannie and Freddie, who I would remind you are the biggest part of the bailouts," he said. Earlier in the program, he had specifically brought up Raines' name in this context.

"Remember in 2003 and 2004, Raines was one of the people at Fannie and Freddie. He was the head who said our financial statements are untrustworthy. These people have not been able to put out trustworthy financial statements for the better part of the decade. These are out of control, greedy enterprises masquerading as mortgage companies. But they are really just political lobbying firms trying to get special treatment from Congress in order to enrich their leadership."