The New Nation - Internet Edition

AFP, New York

With 40 days to go until election day, the fast-moving global financial crisis has transformed the White House race into a daring duel of political brinkmanship for John McCain and Barack Obama. It was a compelling day of political bluff and counter-bluff Wednesday with each of the rivals trying to show the steady nerve, on-the-fly strategizing and leadership aura worthy of a president. Sinking in the polls as his Democratic rival capitalizes on the economic anxiety sweeping the United States, McCain pulled off a sudden and daring maneuver by suspending his campaign and challenging Obama to do the same.

But Obama refused to take the bait, rejecting the Republican champion's call to delay their crucial first presidential debate on Friday with a withering rebuke to McCain that presidents must deal with "more than one thing at once."

Enter President George W. Bush. The unpopular outgoing leader, warning in a nationally televised address Wednesday that "our entire economy is in danger," persuaded Obama to meet him, McCain and top congressional players in Washington on Thursday.

The historic White House conclave could provide political cover to ram a 700 billion dollar financial rescue deal through Congress-for which both will no doubt claim a large slice of the credit.

With his standing in opinion polls sliding in recent days, it seemed McCain knew he had to make a bold move to stop the election slipping away after leaving a poor impression during a week of economic turmoil.

In a stunning press conference in New York, McCain announced gravely that he had put his campaign on hold and would return to Washington to seek a solution to the crisis.

"We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved," McCain said.

That seemed a message directed at wavering Democrats who have yet to embrace Obama and independent voters, a sign that the old, maverick reformer McCain-not the Bush clone that Democrats are trying to frame his as-was back.

The campaign said the move was motivated by a realisation that nothing was going to get done in Washington without the politicians with the most to lose, or gain, from a solution getting involved.