"Again, inaction is not an option."
Sen. McCain, slow down let the markets self correct and Lead the American people with a Real Plan. Either back the Conservative GOP, or keep pushing the rock.
Posted on 09/30/2008 4:33:30 PM PDT by CitizenM
My Friends,
We are in the greatest financial crisis of our lifetimes. Congressional inaction has put every American and the entire economy at the gravest risk. Yesterday the country and the world looked to Washington for leadership, and Congress once again came up empty-handed.
I am disappointed at the lack of resolve and bipartisan good will among members of both parties to fix this problem. Bipartisanship is a tough thing; never more so when you're trying to take necessary but publicly unpopular action. But inaction is not an option.
If we do nothing, many businesses may fail. Sonic Corporation, a drive-in restaurant chain based in Oklahoma, learned on Thursday that one of its lenders, GE Capital, had stopped extending new loans to the chain's franchisees. That will block plans to rebuild restaurants, add equipment and open new locations.
When financing dries up, students can't get loans. In Wisconsin, more than 100 Milwaukee Area Technical College students couldn't access private loans to fund their education. Fortunately the school was able to come up with emergency loans, but this temporary arrangement cannot continue. Markets need to work so that people can get financial help and students can be educated.
Again, inaction is not an option. In light of the House's failure to act, this morning, I spoke to the President about two things that the administration has not done, but should do following the inaction of Congress. First, the Treasury has already used its Exchange Stabilization Fund to back money market accounts. I encourage it to use it this fund as creatively as possible to provide backstop for accounts across our financial system to maintain confidence on the part of savers and investors. And second, the recent housing bill gave the government nearly $1 trillion in authority to purchase mortgages. Housing and mortgages are at the root of this crisis.
The Administration can take these actions with the stroke of the pen to help alleviate the crisis gripping our economy. I urge them to do so.
The FDIC should quickly be granted the authority to increase the deposit insurance cap from $100,000 to $250,000 so that families do not have to worry about their money. We cannot allow a crisis in our financial system to become a crisis in confidence.
I call on everyone in Washington to come together in a bipartisan way to address this crisis. I know that many of the solutions to this problem may be unpopular, but the dire consequences of inaction will be far more damaging to the economic security of American families and the fault will be all ours.
And to my supporters, I assure you I will continue to do whatever I can to aid in a constructive answer to the challenge before us.
Sincerely,
John McCain
P.S. I'm asking you to pass this email along to your friends, family, neighbors and colleagues. We must spread the word that inaction is not an option.
I’d right back to him and tell him to quit pushing this stinkbomb, and ally with the House conservatives unless he wants to lose the election.
I got one too.
Not sure what to think of it yet. Still kickin’ it around.
right = write
john we need a townhall meeting...about the economy
do it when obami is with his hollywood friends the boss
Be easy on him. He needs to show willingness to push for action as a POTUS nominee.
I removed him from my email sometime ago.
When I start hearing some talk about flaying Raines, Fwank, Dodd and all of the others like Ken Lay, I'll think about it
For now you can call me Pete Puma
The McCain campaign is going in the wrong direction.
Congress may need to do something, but not this.
No looting of the public treasury.
GE=MSNBC
I think Sonic can be cannibalized by other chains. Lord knows we can’t let a double cheesburger firm go under. (I ate there last night)
"Again, inaction is not an option."
Sen. McCain, slow down let the markets self correct and Lead the American people with a Real Plan. Either back the Conservative GOP, or keep pushing the rock.
It’s a political stance.................
“And to my supporters, I assure you I will continue to do whatever I can to aid in a constructive answer to the challenge before us.”
Ok. Just what are you going to do????????
Yes, Juan, treacherously crossing the aisle to collude with Marxists and Democrats is sooooo hard.
Agreed...if McCain would only jump on the House Republicans’ ship, it will sail. They have a market-based solution which is 100% more palatable to Americans than the Democrats version, which uses taxpayer money. The Dems won’t no part of passing a taxpayer-based bailout without Republicans providing cover for them...which seems like McCain wants to do. Ugh...he needs to wake up.
I got it. Sent a rather nasty response back. I wish he would see it.
No replies.
McCain supporters are simply trading one Socialist (Obama) for another. Mark my words: this is an election between two Socialists, and all that We The People are going to receive come January 2009 is a comprehensive bipartisan screwing, if such a monstrosity isn't delivered sooner.
Uh McCain, it was much harder for those pubbies in the House to be partisan and say “no”.
Gawd, McCain needs to stop being a Senator if he wants to win.
What a dope.
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