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McCain: 'Wall Street Is The Villain'
ABC News ^ | July 27, 2008 | Mary Bruce

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 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.

(Excerpt) Read more at blogs.abcnews.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: 2008; 2008election; bailout; campaignofcorruption; corruption; corruptjuan; economy; election; election2008; electionpresident; electionspresident; fanniemae; freddiemac; govwatch; housing; housingbubble; keatingfive; mccain; mccainlist; mccaintruthfile; mccaintruthwatch; mclame; poorpoorrinos; rino
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To: fabian

LOL. McCain reduce spending? LOL. He just approved a bill that will add trillions to the national debt. LOL. The Maverick is all make believe.


101 posted on 07/29/2008 12:49:58 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: death2tyrants

That’s for damn sure. Hard to say who then is worse. McCain the socialist or Barr the Islam appeaser.


102 posted on 07/29/2008 12:51:01 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: LomanBill
I understand perfectly. ;^)

Either more or less. Something's got to give. haha hoho hee hee

103 posted on 07/29/2008 2:01:17 PM PDT by TigersEye (Drill or get off the Hill. ... call Nancy Pelosi @ 202 - 225 - 0100)
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To: TigersEye

I realize you’d like company in your misery, but it’s pretty clear that stuff isn’t doing you any good. So no thanks.

Nice photo though.


104 posted on 07/29/2008 4:24:54 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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To: LomanBill

What?


105 posted on 07/29/2008 4:36:19 PM PDT by TigersEye (Drill or get off the Hill. ... call Nancy Pelosi @ 202 - 225 - 0100)
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To: Crazieman
Yeah. Like, LET'S ALL get in the cage here with a rabid jaguar (McCAIN), because we are scared to DEATH of an approaching panther licking his chops (OBAMA).

Some "choice".

Oh well, it is the lesser of two evils, donchya know. Maybe it will take six whisky bottles to vote for Scarface. Not.

I wont vote for that lame retard in a million years.

106 posted on 07/30/2008 6:59:28 PM PDT by AmericanInTokyo (If you couldn't stand to be in a packed room of RINOs & LIBERALS for 3+hours DO NOT VOTE for McObama)
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To: TigersEye; LomanBill
Do you understand that, Quisling?

Aha!! I now have company. He's called me Quisling about a half dozen times so far in his brief tenure here.

107 posted on 07/31/2008 11:09:23 AM PDT by houeto ("Drill Here! Drill Now!")
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To: Sam Gamgee
"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,"

Uhm...McCain needs to take another hard look at his campaign economic adviser. Oh, wait- he's already thrown Gramm under the bus. Whew, that was a close one!

108 posted on 07/31/2008 11:19:06 AM PDT by TADSLOS (Cure CINOism- Write in proven conservatives at all levels on the ballot)
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To: houeto

>>Aha!! I now have company.

Have you figured out the circumstances which led ARCO to be in a financial state conducive to being acquired by British Petroleum yet? No?

Go do your homework.


109 posted on 07/31/2008 2:10:34 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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To: houeto
Aha!! I now have company. He's called me Quisling about a half dozen times so far in his brief tenure here.

Well hello, brother Quisling. Glad to meetcha. ;^)

I know you may be thinking of posting a dictionary definition and then asking for some clarification following logical and rational lines. I humbly suggest that it would be a complete waste of time. You would probably have better luck discussing the day's issues with your cat or dog. On the other hand if you're looking for colorful non-sequiturs, insanely convoluted logic and sensational hyperbole laced with empty threats there's no place like the internet.

110 posted on 07/31/2008 2:24:29 PM PDT by TigersEye (Berlin '36 ... Olympics for murdering regimes. ... Beijing '08)
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To: LomanBill
Have you figured out the circumstances which led ARCO to be in a financial state conducive to being acquired by British Petroleum yet?

You said yourself that it was unions and enviromentalists that got ARCO in dire straits.

111 posted on 07/31/2008 3:39:27 PM PDT by houeto ("Drill Here! Drill Now!")
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To: LomanBill
Go do your homework.

Last time I checked, you weren't my momma. Take a hike, DRIP.

112 posted on 07/31/2008 3:40:56 PM PDT by houeto ("Drill Here! Drill Now!")
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To: TigersEye; LomanBill
On the other hand if you're looking for colorful non-sequiturs, insanely convoluted logic and sensational hyperbole laced with empty threats there's no place like the internet.

Very well stated. LB wants BP totally kicked out of the U.S. because WE didn't elect their monarchy. Dumbass me didn't even know THEY had an election!

113 posted on 07/31/2008 3:46:33 PM PDT by houeto ("Drill Here! Drill Now!")
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To: houeto; Carry_Okie

>>unions and enviromentalists that got ARCO in dire straits.

Carry, who funded said environmentalists?


114 posted on 07/31/2008 4:05:45 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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To: houeto

>>Last time I checked, you weren’t my momma.

Thank heaven. That WOULD be embarrassing. ;^}


115 posted on 07/31/2008 4:07:37 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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To: houeto

>>didn’t even know THEY had an election!

Exactly. Neither now, nor in 1776 did THEY have an election.

That was part of the whole “Tyranny” thingee that whipped the writers of the American Declaration of Independence into such a tizzy.

Taxation without representation.

Where is the representation of the American people in this little fiasco by which they are being taxed, via monetary inflation, for their own natural Oil resources - at BP’s pump?

Tyranny of the Appetite.


116 posted on 07/31/2008 4:20:02 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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To: houeto; LomanBill
houeto, consider this post about the California Power Crisis of 2002. It's long, but I think it explains what LomanBill is getting at.

There's an ugly reason things work this way, and it goes a long way back.

117 posted on 07/31/2008 5:32:00 PM PDT by Carry_Okie (God gave us Law a fool can follow, and a genius can't comprehend.)
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To: houeto
Dumbass me didn't even know THEY had an election!

Us Quislings are always the last to know. Probably because Q is near the end of the alphabet.

118 posted on 07/31/2008 5:50:35 PM PDT by TigersEye (Berlin '36 ... Olympics for murdering regimes. ... Beijing '08)
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To: Crazieman
"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

Lets vote for this guy! Rah rah rah goes the McMoron supporters on FR!

Thank you for voting.

Your vote IN FAVOR of qualifying MacDonalds burger flippers for $400,000 mortgages by falsifying their income so that the worthless mortgage thus created could then be sold to you via your mutual fund in your 401 K has been tabulated.

Please play the con game again soon.

Wall Street and the Making of the Subprime Disaster

119 posted on 07/31/2008 6:08:39 PM PDT by Polybius
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To: TigersEye; houeto
>>Probably because Q is near the end of the alphabet.
 
Reading the dictionary from front to back are ya gentlemen?
 
Perhaps, then, before you got to Quisling, you came across Quigley - Carrol Quigley; Bill Clinton's professor and mentor.
 
And when you get to the Rs, be sure to take special note of Rhodes, Cecil Rhodes, whom Mr. Quigley admired and wrote about extensively.
 
Mr. Clinton, Mr. Quigley, and Mr. Rhodes are all discussed in this article...
 
Dr. Quigley, a highly respected scholar who had taught at Georgetown, Princeton, and Harvard, was for two years permitted access to the "papers and secret records" of the Rhodes network. Bill Clinton was one of his students  at Georgetown.  Candidate Clinton, a member of the Council on Foreign Relations, paid homage to his former professor, mentioning him by name in his acceptance speech at the Democratic National Convention last summer.
 http://www.thenewamerican.com/node/1414 
 
 
One if by Land, Two if by Sea... and Three if by Wire Transfer.

120 posted on 07/31/2008 6:34:03 PM PDT by LomanBill (A bird flies because the right wing opposes the left.)
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