... and we like it that way!
Walter'08!
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 ...
So we vote for the socialist America-lover who’s willing to give it a government bearhug large enough to squeeze the life out of the country.
Yay! Lets vote today!
A no vote is a vote for Obama. It’s just simple math. Vote wisely.
“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.””
How ‘bout all those ‘charitable’ contributions Fannie makes....like millions to Maldef, LaRaza, Lulac and the Rainbow coalition?
HA! I said a while ago McCain had it in for Wall Street but no one believed me.
Yup. Its reasoning like that for where we are today.
Thanks guy, you gave us RINO dominance in the party.
Hmmmmmm? I am going to cast a NO VOTE for Obama, would that be considered a yes vote for McCain? The people that spew this “a no vote for McCain is a vote for Obama” do not like to use the same argument in reverse.
Don’t know about you, but this argument is pretty old and useless. LOL
Cut the drama! I voted for Duncan Hunter in the primaties but at this point you have 4 choices: Vote for McCain, Vote for Obama, vote 3rd party, do not vote. The latter 3 are all votes for Obama.
Vote wisely.
You legitimise RINOs.
McLame support 2 years ago was considered a zottable offense, or suspicion of being DU plant.
Vote wisely.
And D.C. was just the innocent bystander? Sure, Johnny, whatever you say.
Hmmm, interesting..but I was aware of what was going on..so..doesn't that make me a co-conspirator? And what about the people who took a loan out that they knew would change one day...Doesn't that make them a co-conspirator? Everybody had to sign on to this "transaction."
You do what you feel you need to do and I'll do likewise!
Each person has to make a choice. I will be voting for McCain, because I think Obama would be much worse for our country. Yes, I'd rather have someone else as the Republican nominee, but that's just not the way it is.
He can forget about my vote. I think he’s drunk on that illegal immigrant lettuce.
Like it or not, Wall Street gets up to some crazy stuff that affects us all (subpime loans, derivatives). More regulation is indeed warranted. If it was just themselves they were harming, I wouldn’t care.
LOL
As to McCain’s comments about WallStreet...
My goodness I am proud of CINDY McCain,
as a female myself I applaud that she is a CAPITALIST! A female capitalist, doesn’t she have any influence over him?
If she did we wouldn’t worry about him not being a conservative, surely she tends to lean conservative.
As to the housing “crisis” the only crisis we have is interfernce by government to bail them out!
Upon reflection, I'd be inclined to agree. The villains are the people who knew they were doing wrong.
When I sold my home in 2004, this is how it went down...I sold my home for almost double than what it was worth (we all knew that)...
Sorry Hildy, you are one of the villains. (Not that I would have done anything different! I was hoping to do precisely the same thing when my son reaches his majority, and get the heck out of California...)
When I questioned how it would appraise that high, the realtor told me that it was his college friend who was the appraiser...
Both the realtor and the appraiser are co-conspirator villains.
the people who bought it got a stupid loan in order to live in the home they wanted to live in, not the one they could afford...
Ultimately the people who set the price are the buyers, they bought more than they could afford, with he ope of ultimately sticking it to someone else when the final bill comes due. They're villains, too.
The bank? They're left holding the bad loan...
Villains. They made a loan they knew was going to go bad from the get-go. That's not a very responsible thing to do.
OTOH...
Hildy maximized the cash she got.
The realtor maximized his commission
The appraiser maximized his business volume
The buyers got a place to live at a price they agreed to
The bank managed to make some interest
Everybody got out more than they put in.
Who's the villain? If everyone wins a little or a lot is there really a villain?
“doesn’t that make them a co-conspirator?”
Not in my mind. The villians are the people who acted to deceive and actually broke the law, IMO.
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