Pander much?
Sen. John McCain (R-AZ) is apparently having second thoughts about the way he threw his weight behind the Wall Street bailout in 2008. Facing a tough re-election bid, he is claiming that he was "misled" by everyone and their brother leading up to the vote on the
.
This is sickening on several different levels. You probably remember that he made a huge show of "suspending my campaign" to wing back to Washington and save the day. He claims that Bernanke and Paulson lied to him and said that the housing crisis was what the rescue was all about. While there was plenty of lying to go around, no one at any policy level ever suggested the bailout bill would help the housing crisis. Sorry, John. Thanks for playing, please try again.
In fact, the bailout bill was always about Wall Street. And the people knew it. That's why it was opposed by as much as 90% of the population before Congress thwarted the will of the people and passed it on the second go-round. If anyone got hosed it was Paulson, who didn't realize Bernanke managed to sneak six lines of text into the leviathan bill that allowed the Fed to recapitalize the banks instead of purchasing the toxic assets as the bill stipulated.
McCain should be thrown out of office. But not because he believed a lie (when he knew full well what he was voting for). He should be run out on a rail for defying the will of the people.
and cause hes an idiot, above all else
People forget that Wall Street has a vote too. I love all the campaign commercials with slander about The Street. We are wall street. Well you know what, FU Main Street.
He's a politician, did anyone expect any less?
I also agree with BCbanker, F main street.
If you can't do... teach
If you can't teach.... govern
First of all - didn't the government get their money back in almost every case? Why doesn't the media talk about that? And why the focus on the street? Why don't we hear about GM and the other car companies who have yet to pay back (annouced for June payback from GM) - I am guessing the liberal press doesn't want to upset the unions eh... Maybe if we want a better reputation on Wall Street we should unionize ;)
The issue is that politicians and the public at large, for the most part, do not understand basic economics. It is evident in a "jobs bill" that wants to give payroll tax breaks to small business if they hire someone - what small business owner in their right mind would hire someone just for a tax break on that additional cost?!?!?! Only one that runs a shitty business.... You hire when there is a need - for their to be a need you have to stimulate demand - you stimulate demand with capital.....
The problem with our government for the last 2 years of W and the first year of Barry is that they are trying to spend too much and take control of more... These people can't even run their own homes and they want to take over car companies, banks, healthcare, etc. all the while walking a thin political line to keep their jobs....
Really to solve it we should have term limits on these idiots - that way their is incentive to do the RIGHT thing, not the best thing politically - the best thing politically is based on the majority of people (who dont get it) and the emotion at the time (which is often wrong).
Like the leader of GS says - lets just continue to "do god's work" and hope that too much of our wealth isn't stolen from us....
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