Skip to comments.McCain: 'Wall Street Is The Villain'
Posted on 07/28/2008 7:52:26 AM PDT by Crazieman
ABC News' Mary Bruce reports: Sen. John McCain, R-Ariz., blamed Wall Street this weekend for the failing economy. "I think that Wall Street is the villain in the things that happened in the subprime lending crisis and other areas where investigations and possible prosecution is going on," McCain said in an exclusive "This Week" interview with George Stephanopoulos.
McCain also placed responsibility on a "gridlocked" Congress. "I also think that Congress is at fault. We didnt restrain spending. Spending got completely out of control," he said.
When asked about Congress' progress in passing the housing bill, McCain said he would have voted for the legislation, but noted, "I also see, again, the influence of special interests." When pressed about why he would support it, McCain explained, "its better than nothing."
"I think there was a better way to do it. And I think the special interests probably played a role in the shaping of that legislation," he said.
McCain reluctantly offered support for the controversial provision that would enable federal aid for faltering private institutions, such as Freddie Mac and Fannie Mae. "We reached such a situation that, if these institutions failed, the impact on millions of innocent Americans could be very severe," he said. He noted, however, that "in the case of Fannie and Freddie, we should stop their lobbying activities. We should eliminate the pay and bonuses that these people rake in."
McCain agreed with Sen. Barack Obama, D-Ill., supporter Robert Reich who, along with Republican columnist George Will, has proposed that executives at institutions receiving government guarantees should receive government salaries. "That's exactly right," McCain said.
(Excerpt) Read more at blogs.abcnews.com ...
We are so screwed.
Absolutely concur! Obama almost had me convinced to vote for McCain and then the zany maverick goes and reminds me of who he really is.
Of course you and ABC (in it's headline) conveniently ignore this part of McCain's comments.
Rah rah rah goes the McMoron supporters on FR!
Did you say something similar when Bush commented on a "drunken" Wall Street a few days ago? No seriously... did you?
What's sad is that republicans will saddle the right with this man's incompetent leadership for the sake of party power. I wouldn't take money to vote for McMoron.
Well, he is half right, congress is to blame for out-of-control spending.
Too bad his opinions on both matters will probably change before Nov. 7 based on whether or not he thinks he can get more votes.
Geez McLame gets stupider every day, I think.
And remember his proposal to give a ‘prize’ of a half billion $$$ to anyone who could invent a better fuel (or something like that)
He probably REALLY THINKS THE BUISNESS WORLD WORKS LIKE THAT (all those companies are now scrambling around trying to get “that prize” instead of oh, I dunno- DOING THEIR JOB)
I think the best thing we can get this election is a stalemate- Let Obamarama win (I WILL NOT be voting for any democrat like McLame) but with a Republican congress to block his every move
McLame’s covering his bases with cute statements like that. Half of his proposals call for massive spending that would dwarf Bush’s increases.
Global warming legislation, Health care legislation, amnesty legislation.
Nice try. Won’t fool me.
McLame is a typical career politico maroon ..ok .. tired of dancing .. a real moron. Do any of these people have a 3rd grade education?
None of the congrescritters have the qualifications to be hired by me. I guess that is why they are where they are.
E pluribus e pathetique!!
When I sold my home in 2004, this is how it went down...I sold my home for almost double than what it was worth (we all knew that)...When I questioned how it would appraise that high, the realtor told me that it was his college friend who was the appraiser...the people who bought it got a stupid loan in order to live in the home they wanted to live in, not the one they could afford... The bank? They're left holding the bad loan...
Now, who is the villian in this scenario? I'm interested to see the comments.
We still have, hands down, no choice. We can reach McCain we can’t reach Obama. Obama is a pure out right Marxist and racist. McCain is confused on the economic front, but on social and defense issues is ok. He is wrong on the amnesity, but I think he is now convinced we must enforce the border.
I can’t imagine the US with Obama/Pelosi/Reid running it.
I can’t imagine the judges they would appoint.
I can’t imagine a conservative that abandons us and doesn’t vote in a snit. This is one time when I will berate my left leaning friends and really challenge them will loss of my friendship over a vote..likewise those conservative friends who won’t support freedom over slavery. They won’t be welcome in my house or at my table.
A destroyed economy and domestic policy cannot support the common defense.
"We could go out and ask people -- the smartest people in America, maybe somebody like Jack Welch or John Chambers or Meg Whitman, people like that -- and say, 'come and take over and do it for $1 a year.' Theyd be willing to do that," McCain said.
Maybe you'd like to wipe my butt for a nickel?
He wants someone who will make him look like a moderate
Someone who will appeal to women voters
Someone who can steal democrat votes from Obama
He wants to be bi-partisain, and "reach across the aisle"
(And if he really DID pick the Hildabeast for a running mate we'd STILL have people here trying to convince us it would be better than voting for Obama)...
No one forced them to buy a house at a ridiculous price on a loan they couldn’t afford.
When you can’t afford to buy, rent! I moved around a lot in the military, and rented more often than I owned. When I was at Whidbey, I could rent a house for half the price of buying one. That is a good sign of a market out of whack.
As long as we don't need to pour water on a terrorist to save a city, yeah. He's good on defense.
Wall Street is not the villain. McCain should look in the mirror sometime. Wall Street is just protecting itself from the coming ravages. Gridlock is a good thing, no harm can be done.
There is no villian . Just individuals and lenders (and those who buy their mortgages) making stupid decisions. The only villian to the extent there is one is the appraiser and or Realtor.
I don't really see anyone on FR jumping up and down to vote for McCain. What I do see are people on FR who will cast their vote for McCain to keep the Communist/Marxist/America-hater Obama out of the White House.
Here, Fannie and Freddie are allowed by Congresspersons to lend far more than any bank or other lender would be allowed... and so his solution is to curtail the economy.
Someday he'll actually look to hold an elected representative accountable for their actions... but I won't hold my breath.
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