McCain: 'Wall Street Is The Villain'

ABC News ^ | July 27, 2008 | Mary Bruce

[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 didn’t 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, "it’s 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.

[LomanBill]

Also, there is the issue of the 1st Commandment.

“Thou shalt have no other Gods before me”.

Clearly, for many, “The Market” has become a thing of worship.

Nothing new.

Got Baal?

[LomanBill]

>>force industry to scale back to a level of two decades ago.

IIRC, Two decades ago we still had industry in America; before our manufactured goods became “Heche En China” - before hordes of H1B carpetbaggers were brought in to do those IS jobs that “Americans won’t do”....

Two decades ago? The Reagan era?

BRING IT ON!

[TigersEye]

Where is your sarcasm tag? What they want industry to go back to is a level of energy use (carbon output) they had then. Mostly we are talking about energy production ie power plants. Our use is much higher now and climbing. The target date is 2012 so the retro-date in question would be ‘92 not the Reagan Era. My bad, I should have mentioned that.

[LomanBill]

[What they want industry to go back to is a level of energy use (carbon output) they had then.]

In 1992, Gates Rubber plant was still operating in Denver.
In 1992, Colorado Fuel and Iron (CF&I) was still operating in Pueblo Colorado.

From what I see with my own eyes, there isn’t much nasty polluting “industry” left in America.

Pollution? It will be very interesting to see how the Commie/Greenies try to spin the thick clouds that will be visible on televised imagery from the Bejing Olympics.

Communism and Capitalism... working together.

[Mostly we are talking about energy production ie power plants.]

Nuke ‘em, Dano.

[KDD]

McCain has zero chance of getting my vote. You may not like Barr, Baldwin or Paul but Ron Paul's Texas Straight Talk once again highlight the differences between conservatism and the big R statism. McCain can go to h*ll as far as I am concerned. Instead I will vote for the man who has worked tirelessly to mitigate the damage done by McCains assault on free speech and the 4th amendment. I will vote for Bob Barr and stand behind my vote. All the Republican Party seems to have left to sell is fear. I'll not join the cowards who ignore and abandon conservative principals due to their fear.

[redgolum]

We are screwed, but he has a partial point.

This whole house of cards was because many banks were playing hot potato with toxic paper. The real question is why the paper got made in the first place.

[TigersEye]

I don’t think you understand. I didn’t say pollution. I said emissions. CO2. Algore’s Gold. It means 300 million people have to live within the means that 250 million did in ‘92. No cell phones, no big screen TVs, no computers...

[Glenn]

We are so screwed.

How can you say that? We'll all be making a fortune picking cabbage out of the field.

[SwankyC]

Well I guess you got me - Everyone vote Mccain because he voted for funding and a surge among the NUMEROUS other conservative causes.

Oooh, we labeled the Kuds Force terrorists. Talk about goofy. And that means what - that we'll do something to shut them down ... any ... second ... now? Oh wait, dont we actively fund terrorists like the Palestinians?

Correct me if I'm wrong, wasn't Reagan promised a closed border for amnesty and Congress screwed him over?

[LomanBill]

>>No cell phones, no big screen TVs, no computers...

I believe the components for those items are not mfg in the USA.

Bought my first computer in 1982.

The efficiency of today’s big screens and PC’s exceeds the energy efficiency of the products on the market in 1992.

I’d suspect the CO2 produced to power those items for 300 million folks today is probably equivalent to, or even less than, the CO2 produced to power the items available in 1992.

[TigersEye]

It's not where they are manufactured it's having the electricity to power them. What percentage of the population had computers in '82 vs now? And more importantly 2012. If the CO2 emitted to power things then was so much higher per unit why are emissions higher now?

Bottom line; trillions in taxes and hamstrung businesses.

[dragnet2]

McCain: 'Wall Street Is The Villain'

And Bush said last week, "Wall Street got drunk". Even though his government is supposed to oversee the lending institutions.

And then well be forced to bail their buddies out.

The fix is in. What a scam!

[rabscuttle385]

"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 conveniently ignores the fact that Big Government is about 90 percent of the problem, just like the part where he was too scared to call out Obama as a Socialist.

The Just Say No to Juan McCain Ping List. "It's like traveling around with a circus." —Lindsey Graham, on McCain's campaign To join: FReepmail rabscuttle385 to subscribe or to unsubscribe from this ping list. This can be a very high-volume ping list at times. We are exploring giving subscribers two different options for receiving pings: either to individual threads or to a single "digested" thread at the end of each calendar day. FReepmail rabscuttle385 if you are interested in receiving one or the other. Take care to check the "mccainlist", "mccaintruthfile", "mcbama", "mcqueeg", and "mccain" keyword search links for related threads, since we can not possibly ping you to every relevant article that is posted. To flag a relevant thread, please add the keywords "mccainlist" and "mccaintruthfile". Republican Commissar’s Warning: By joining this ping list, you may be subjected to the irrational rants and ramblings of McCainiacs, of "moderate" Republicans, of deeply confused conservatives resigned to voting for the lesser of two Democrats, and of countless trolls who simply want to meet a new overlord. Per FR posting guidelines, we kindly ask that you be civil and polite in your comings and goings. Bonus points for being optimistic and in good cheer.

[fabian]

what are you talking about? McCain has been trying to restrain spending for a long time. And where has he said he is going to push for amnesty? And greater healthcare spending rather than good reforms which would reduce costs.I think you are just blathering the most negative posibilities which are not reality because you are angry at McCain’s past mistakes. What about the military and the support that he will have for them? Do you think it will do our troopers any good to have Obama as their commander in chief? THey have given alot in this war and deserve far better. Quit complaining and vote for the far better man...not as good as we would like, but he may surprise us too.

[rabscuttle385]

I think you are just blathering the most negative posibilities which are not reality because you are angry at McCain’s past mistakes.

McCain is an ongoing mistake.

That said, an interview with Sen. Lindsey Graham, McCain's political confidante, was published in The State in South Carolina recently. In the interview, Sen. Graham elaborated that he wanted to stay in the Senate to help McCain pass legislation. Given that both of them were leading proponents of the McCain-Kennedy amnesty bill, it is a foregone conclusion that they will team up again to foist another amnesty upon Americans...and, with a likely Democrat-RINO majority, they will do it. Of course, the public at large will confuse Republicans and conservatives yet again, and we will get blamed.

[LomanBill]

[What percentage of the population had computers in '82 vs now?]

 

I'd suspect 1982 Televisions used way more energy than today's energy efficient PC's.  10 years before that they were using vacuum tubes.  Before PC's EVERYBODY had a TV, and most homes had 2 or 3.

 

When was the last time you heard of a house fire caused by an overloaded electrical socket?  Pretty rare isn't it; yet  electrical overload was a common cause of house fires back in the 60's and 70's.  Just ask any fireman.

 

Why is that?  Energy efficiency.   When folks plug half a dozen modern items into a power strip, the current drawn is significantly less than the equivalent items in the past.

 

 

[It's not where they are manufactured it's having the electricity to power them.]

 

Show me the numbers then.  Compare a modern LCD big screen TV with one half the size of 1992 vintage.

 

[why are emissions higher now?]

 

I think you've been drinking too much of Al Gore's Kool-Aid.

 

Many of us here remember when rivers burned and the air was so polluted that just being outside made our eyes and lungs burn. 

 

The truth is the environmental situation has VASTLY improved since then; it's an observable fact to those of us who've lived through it.  

 

So what do the elites do?  They invent this invisible CO2 boogey man to herd the sheeple with.

 

IF emissions are higher, maybe it has something to do with the increase in population from 1.6 billion in 1900 to >6.5 billion today. 

 

Personally, I think population reduction is the ultimate objective of all this fear-mongering.   Environmental stress reduces reproductively among mammals.  It's a physiological response that is natural and observable - and being observable makes it exploitable; just like the solar sunspot cycle that's driving global climate change.

 

Funny you mention 2012.  IIRC, that's about the time the solar cycle peaks and temps will start to cool off.  Seems to me the Branch Algorians are trying to time it so they can claim responsibility "Whoopee! We saved the planet".

 

Next they'll be claiming to be able to make the Sun go dark...  Presto chango - Appocalypto!

[death2tyrants]

“Reagan was in the pre 9/11 era.”

How many of the 9/11 terrorists entered, or tried to enter, though the southern border?

[death2tyrants]

“I will vote for Bob Barr and stand behind my vote.”

Barr is a terrorist-appeasing surrender monkey.

[death2tyrants]

“Oooh, we labeled the Kuds Force terrorists. Talk about goofy.”

No, goofy is refusing to label the Quds force as a terrorist organization out of fear of offending Iran, like Obama did.

“Correct me if I’m wrong, wasn’t Reagan promised a closed border for amnesty and Congress screwed him over?”

He was? By who? Why wasn’t it included in the legislation?

[Sunnyflorida]

“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).”

Amen.