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McCain: Bailout a 'tourniquet'
The Hill ^ | 03 Oct 2008 | Sam Youngman

Posted on 10/03/2008 2:52:03 PM PDT by BGHater

Republican presidential candidate John McCain said Friday that the financial rescue package is a "tourniquet," not a solution to the ongoing financial crisis, but he was "glad" he suspended his campaign last week and returned to Washington.

McCain said "we must stop the damage to our economy done by corrupt and incompetent practices on Wall Street and in Washington."

"I'm glad I suspended my campaign to go back to Washington to help bring the House Republicans to the table," McCain said. "I believe that the taxpayer protections that have been added have improved the bill."

Democrats decried McCain's return to Washington last week, calling it a counterproductive political stunt. The House passed the bailout legislation Friday and President Bush signed it that afternoon.

McCain warned that despite the passage of the bill, there is still work to be done to put the country back on sound economic footing.

"The action Congress took today is a tourniquet, not a permanent solution," McCain said in a statement. "Our economy is still hurting and further action is needed, and it should not take a crisis to get this Congress to act."


TOPICS: Business/Economy; Government; Politics/Elections
KEYWORDS: 110th; bailout; economy; mccain
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To: river rat

cHECK out my post REVOLUTION BEFORE MORNING


41 posted on 10/03/2008 5:11:20 PM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: BGHater

this entire affair really sucks, it has a very good chance of throwing the election to Obama, who is, regardless of McCain’s rather dismal record, a far more frightening prospect.


42 posted on 10/03/2008 9:53:44 PM PDT by WoofDog123
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To: djsherin

“It’s looking more an more like Palin was just a ploy to get conservative votes.”

Well, it should, because this was part of her appeal. The other was, I assume, democrat and independent voters (mainly female) who might be swayed by here, particularly Hillary supporters. The financial sector events have greatly damaged what appeared to be a potentially winning strategy.

McCain is who he has always been, and his legislative and voting record are pretty clear on this. To think a choice of running mate is anything other than electoral calculus would be to assume he magically changes his views.


43 posted on 10/03/2008 9:57:45 PM PDT by WoofDog123
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To: river rat

Barney Frank should publicly acknowledge his PERSONAL responsibility and RESIGN from his chairmanship of the House Financial Services.

/////////////////
I was hoping that Palin would turn Maverick and “Look America in the Eye” and tell ‘em that the Bailout was wrong, that we are a much stronger Country than Wallstreet claims, that Barney Frank was a major culprit along with dems. She could have won the election for McCain.

I was hoping.

“...what country can preserve it’s liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance?.....
....If the American people ever allow private banks to control the issue of their currency, the banks and the corporations that will grow around them will deprive the people of all their property, first by inflation and then by deflation, until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson

Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves..I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a ************* revolution before morning.*************”
—Andrew Jackson

WE NEED A REVOLUTION BEFORE MORNING

A RUN ON THE BANKS AND WALLSTREET
BEFORE THEY RUN OVER ........ U.S.


44 posted on 10/04/2008 2:15:11 PM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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