McCain is both victim and the cause of his campaign problems. And has shown he will not be ready to lead on day one. In a sense, no one is ready to be President, but leadership is an alien experience for McCain, a man who has never lead anything bigger than the plane he flew.
Ignoring for the moment, McCains prior Presidential run in 2000, McCain had a lot of aces in his deck in the run up to 2008. As a GOP outsider he had constant exposure on talks shows, giving him name recognition and political clout as the only real GOP critic of GWB. As as a non GOP insider, he had no real help from GOP insider machinery or the funding to go along with it. But on a shoe string budget and his own personal appeal, he soldiered on and captured the GOP nomination. And in April and May, when Obama and Hillary were cannibalizing each other, a real leader would be quietly moving to take charge of the GOP machinery. Instead, McCain went for his strong suit, town hall meetings, while he was stuck with a campaign staff of mainly lobbyists not very good at fund raising. In terms of ideas, he was not reaching out to other moderate Republicans, nor was he reaching out to GOP intelligentsia theorists who could help him formulate new GOP doctrines once it was apparent that GWB&co neocon ideas were an epic failure. As McCain had what amounted to a total faith in his own tried and true values.
As a result, McCain is coming into the last three weeks of this campaign with a huge funding disadvantage, an inept set of lobbyists advisers, and now has been blind sided by a huge economic crisis of GWB's making. Because when the time came to lead, when the moment was his, McCain did not know how to lead or reach out to those he needed help from.
Obama on the other hand, has run a masterful campaign, defeating a very strong Hillary Clinton who was light years ahead on democratic political experience. Nor would he had been able to do if Hillary had opposed the Iraq war, but almost events have shown Obama to have the better judgment. And while McCain was snoozing, Obama was quietly moving to take control of the DNC brain trust and all its political machinery. Assembling teams of experts advisers, healing party wounds, doing damage control, and as importantly, out fund raising McCain 2 to 1. Not bad for a man who started out as a community organizer.