If he makes a bold move like you propose; he should acknowledge the old bill's weaknesses and address them. He has to offer something better.
Yes! McCain needs to step up, acknowledge that the American people have spoken through their elected representatives to reject this deal, and propose the broad principles of a free market solution of his own. And then run on those principles all the way to the election.
At the same time, hit Obama hard on his ties to FannoeMaeFreddieMac and how the Dems used those companies to line their campaign coffers.
McCain is the “reform candidate”. Here is his moment to reform something BIG! And start leading, not reacting!
I agree with Brian_Baldwin. McCain can’t say he was against a vill he was trying to put together. What he can say, and should is that:
1. He understands the anger of the American people, and they are right to be angry.
2. Any new bill, if there’s going to be another one, absolutely has to address the root causes of this problem. Fixing the problem without fixing the cause just gets you the problem again later.
3. Accordingly, in addition to taxpayer protections etc going forward:
A. The CRA needs to be eliminated or drastically altered. The snowball began here. The government needs to get out of the business of encouraging risky loans.
B. Freddie and Fannie should be cleaned up and privatized. There were too many sweetheart deals and govenment control of thses has clearly failed.
C. There need to be across the board hearings and investigations on this early next year. ANYONE, R, D, Washington or Wall Street, who should be in jail should be in jail.
These would be correct, commonsense measures that would resonate with most people, and help get him out in front of this.
I don’t know if he has 48 hours, but he sure doesn’t have long.
I agree with Brian_Baldwin. McCain can’t say he was against a vill he was trying to put together. What he can say, and should is that:
1. He understands the anger of the American people, and they are right to be angry.
2. Any new bill, if there’s going to be another one, absolutely has to address the root causes of this problem. Fixing the problem without fixing the cause just gets you the problem again later.
3. Accordingly, in addition to taxpayer protections etc going forward:
A. The CRA needs to be eliminated or drastically altered. The snowball began here. The government needs to get out of the business of encouraging risky loans.
B. Freddie and Fannie should be cleaned up and privatized. There were too many sweetheart deals and govenment control of thses has clearly failed.
C. There need to be across the board hearings and investigations on this early next year. ANYONE, R, D, Washington or Wall Street, who should be in jail should be in jail.
These would be correct, commonsense measures that would resonate with most people, and help get him out in front of this.
I don’t know if he has 48 hours, but he sure doesn’t have long.