Another roll of the dice for McCain

By John Whitesides, Political Correspondent - Analysis

OXFORD, Mississippi (Reuters) - With another breathtaking roll of the dice, Republican John McCain shook up the race for the White House and put the spotlight back where he wanted it -- on him.

McCain's decision to put his campaign for the White House on hold and head to Washington to take part in talks on a proposed $700 billion bailout for the financial industry was a bold gamble by a former Navy fighter pilot who has proven he has no aversion to risk.

Whether voters see the move as a bold act of leadership or a self-serving act of gamesmanship could well play a big role in deciding whether McCain or Democratic rival Barack Obama takes up residence in the White House in January.

"It's a big risk, but he's shown in the past month he is willing to do big things," said Julian Zelizer, a history professor at Princeton University. "It's the quality that makes him who he is, whether you like it or not."

It was the second risky move in the last month for McCain. He picked a relative unknown, Alaska Gov. Sarah Palin, as his running mate on August 29 in a decision that excited conservatives and ignited a storm of media coverage.

"It's just McCain being McCain," said Republican consultant Rich Galen. "He makes people take a position, and that's what he can do in these negotiations."

This time, McCain's decision threw Friday night's presidential debate at the University of Mississippi in Oxford into uncertainty. McCain was scheduled to go head-to-head with Obama for 90 minutes on national television in a discussion of foreign policy and national security.

But McCain said rallying support for the bailout plan in Washington was a more urgent chore with Congress "running out of time" to hammer out a package. "Now is our chance to come together to prove that Washington is once again capable of leading this country," the Arizona senator said.

The Bush administration proposed the huge rescue plan last weekend and is pushing for quick approval from the U.S. Congress, warning of dire consequences for the economy if the financial industry is not given a rapid boost.

McCain's decision came after new opinion polls showed Obama taking a slightly larger national lead in the November 4 election and establishing clear dominance over McCain on the issue of the economy.

The move quickly changed the topic and put pressure on Illinois Sen. Obama to decide his next move. "It certainly did change the conversation," Galen said.

Democrats said McCain, rather than showing bipartisanship, was bringing the presidential campaign to Capitol Hill at a sensitive time in the bailout negotiations.

'GRANDSTANDING'

"This notion of rushing to Washington and grandstanding, frankly, is I think inserting presidential politics right into it," said Democratic Sen. John Kerry of Massachusetts, the party's presidential nominee in 2004 and an Obama supporter.

"It is unnecessary, I think it's even silly and impulsive and erratic. I don't think it does justice to the process of running for president."