http://firstread.msnbc.msn.com/archive/2008/07/11/1195693.aspx
Here’s what he said 2 weeks ago... definitely a bailout. Not sure what all his toughtalk means now.
Q: On the possible federal intervention for Freddie and Fannie, are they too big to fail? Do you think there needs to be an intervention?
MCCAIN: Those institutions, Fannie and Freddie, have been responsible for millions of Americans to be able to own their own homes, and they will not fail, we will not allow them to fail. They are vital to Americans’ ability to own their own homes. And we will do what’s necessary to make sure that they continue that function. Now having said that, previous evidence and previous information we’ve received clearly dictate that we have much more transparency in the way that they do business. And that way we can gain the kind of information that’s necessary to have them function more effectively and efficiently.
Q: What about moral hazard?
MCCAIN: I think that Freddie and Fannie have a vital role to fulfill and that they cannot and will not fail. There has to be much greater transparency in the way that they do business in order to insure that this kind of difficulties that they’re in is not repeated.