Skip to comments.McCain blasts Congress for blocking bailout plan
Posted on 09/29/2008 8:18:14 PM PDT by pissant
Republican presidential candidate John McCain had sharp words for Congress, it the wake of the defeat of the financial system rescue plan.
"They wiped out $1.2 trillion today," the Arizona Senator told KARE 11, "Congress's failure to act today is not acceptable."
Despite pleas from President Bush and Treasury Secretary Henry Paulson, lawmakers rejected the bailout bill by a vote of 228-205. By the time the New York Stock Exchange closed, the Dow Industrial average had plummeted 777 points.
Answering questions via satellite from Des Moines, Iowa McCain chided those from both sides of the aisle who opposed the plan.
"This is a time of severe crisis, maybe the greatest crisis of our life time," McCain told KARE, "Our failure to act is going to cause problems not only in America, but globally."
Some opposed the package because it didn't do enough to directly address the hardships faced by those stuck in with mortgage foreclosure troubles and, in some cases, predatory loan rates.
Other resistance came from those who are fundamentally opposed to such a massive influx of government aid, at a time when the United States treasury is already straddled with record debt.
Still others remain unconvinced that buying up lenders' bad debt bring trangible results to average people when it comes to easing the credit crisis.
(Excerpt) Read more at kare11.com ...
When things went down in Congress, McCain was talking earmarks.
oh dear, he’s not listening
He is blasting Congress for not passing something that 77% of the people do not want?
I know we will end up getting “something” passed (I think) but jeez mac, show a little finesse here, will ya?
Palin brought the base back, now he’s losing it again. Oh geez.
so wall street lost some money, big deal. Its not an indicator of whether the rest of the ecomomy is doing well or not
Yep. Here was an excellent chance for him to come out AGAINST an unpopular bailout. Isn’t he always going on about how he’s a fiscal hawk? Riiiigggghhhhht.
Nevertheless, he’s all we got, and he’s a far cry better than the Obamarxist.
OK, I get it if he thinks this will help him with those spooked by the potential for a meltdown. Perhaps the wager here is that they need to shore up his support among older voters.
there are times i’ve seen brilliance from the campaign and then other times when it requires to nail the “bi-partisans” that have slammed him, ?
Hey John, the ones that are having their homes foreclosed upon probably aren’t voting for you anyway.
they’ll be voting for obama twice, once from their precinct from their foreclosed home and they other from wherever they are living now.
I guess this means that IF elected, it won’t matter if it is a Dem or Pub Congress..he will have no support.
before i also jump on mccain, need his full quotes. If you look at the little snippets so far, he’s not saying he support or not support the bailout, only that no action is being taken by congress
No, he’s just not getting it. This is his opportunity to harness the energy of taxpayers contempt for Washington politics and corruption, and he’s not picking up on it. I read somewhere earlier that he was in favor of the bail-out plan being administered by someone other than Paulson. He needs to get back on that reform wagon.
Iowa? I’m surprised to learn he was campaigning there - I assumed that the McCain campaign had written off the state.
Some people here that were hoping he’d go against the bailout are going to be disappointed. Those of us that know who McCain is at his core, aren’t surprised.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
As some wag noted on another thread, this election will probably be lost by the candidate who makes a big screw-up last. McCain is just demonstrating he's up to the challenge...
call in romney?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.