John McCain, under attack for his part in approving TARP, is now claiming he was “misled”:
In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. McCain said the pair assured him that the $700 billion Troubled Asset Relief Program would focus on what was seen as the cause of the financial crisis
, the housing meltdown.
“Obviously, that didn’t happen,” McCain said in a meeting Thursday with The Republic’s Editorial Board, recounting his decision-making during the critical initial days of the fiscal crisis. “They decided to stabilize the Wall Street institutions, bail out (insurance giant) AIG, bail out Chrysler, bail out General Motors. . . . What they figured was that if they stabilized Wall Street – I guess it was trickle-down economics – that therefore Main Street would be fine.
Well one reason it wasn’t used only for the “housing meltdown” is because the law apparently didn’t specify it must be. Consequently one has to conclude it was McCain and those who wrote the law and voted for it who are responsible for what happened. They a wrote bad law. They fell for the drama. They threw almost a trillion dollars out there and are now complaining that it wasn’t used as they “thought” it would be used. Really?
If they were going to pass this travesty anyway, why wasn’t it limited to what the people who brought the problem to them (Paulson and Bernanke) said constituted the problem? How did it end up bailing out auto companies and AIG?
Bad law. And the ones responsible for writing th law include this guy trying to pass of the blame to others.
Secondly, there’s this:
McCain said Bush called him in off the campaign trail, saying a worldwide economic catastrophe was imminent and that he needed his help. “I don’t know of any American, when the president of the United States calls you and tells you something like that, who wouldn’t respond,” McCain said. “And I came back and tried to sit down and work with Republicans and say, ‘What can we do?’
Responding is one thing. But when your constituents are dead set against it, to whom should he really be responding? Well, who does he supposedly represent? What McCain is really saying is “when the president tells you he wants you to pass a bad law, you salute and do what he says”. Really? “Response” apparently means saying ok to unconstitutional spending. Not that Mr. McCain/Feingold has much use for the Constitution.
So, bad law, ignoring his constituents and now blaming others.
Sounds like a pretty typical politician who has spent way too much time inside the beltway to me – a politician well past his “incumbent expiration” date.
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It starts with McCain campaign manager Steve Schmidt saying that it would be a catastrophe in 2012 if the GOP picked Sarah Palin as their candidate.
My question is compared to what?
Which segues perfectly into the laugh of the day – John McCain has decided he’s going to remake the GOP:
Fresh from a humbling loss in last year’s presidential election, Sen. John McCain is working behind-the-scenes to reshape the Republican Party in his own center-right image.
Good lord … that’s like Jimmy Carter wanting to reshape the Democratic party. McCain stands for everything that is wrong with the GOP today. If ever there was someone who found the wrong message for presenting the GOP to the voters, it was John McCain. And the economic problems the country has gone thorough since his defeat have only made his message less acceptable. Schmidt can bellyache all he wants about Sarah Palin, but without her McCain’s election night returns would have been much more dismal than they were.
Smaller and less intrusive government, fewer taxes and much less spending is what the GOP must put forward as its platform. John McCain, despite his claims to the contrary, does not represent that platform. And he’s not much of a friend of the First Amendment either. He is a big government Republican.
John McCain was rejected because he was seen as a light version of the Democratic candidate. Why compromise when you can have the real thing? Well now we’ve seen the real thing and voters aren’t going to want anything to do with the toned down “moderate” Republican model. And the base certainly won’t be enthusiastic about him. This is not the time for the GOP to even consider someone like John McCain or a surrogate if the GOP is at all serious about 2012. It’s time for a principled stand to reduce the size and intrusiveness of government and to let the citizens of the US retain more of what they earn and more control over their lives than they now do. Find a candidate to articulate that and lay out the freedom and liberty platform and the GOP has a decent shot in 2012 if what I think is going to happen happens.
John McCain is certainly not the candidate for that platform. Thank goodness, his day has passed. Where and even if Sarah Palin plays into this for Republicans remains to be seen. To many, she’s yet to prove she’s ready for the job. But it certainly isn’t too early now for the GOP to say ‘no’ to John McCain. It’s time for the GOP to take a chance and stand up as the party to return us to our small government roots. Maybe it’s just me, but it sure seems like the timing is right.
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Al Sharpton must sniff a payoff somehere. He’s protesting in front of Bernie Madoff’s place.
Bill Press pushes for a redefinition of “public interest” to include making terrestrial radio stations carry a format that fails everywhere it is tried to the detriment, naturally, of one that succeeds.
After years of pandering to them, John McCain makes the staggering discovery that Democrats are no more bi-partisan than the GOP.
The Taliban release a video of them cutting off a Polish engineer’s head. The Obama administration mulls a change in strategy which would have them essentially abandon the Karzai government in Afghanistan and negotiate with the Taliban. And, unsurprisingly, some on the left just want to know why we’re still there.
Larry Sabato, director of the University of Virginia’s Center for Politics says there’s a good reason the “stimulus” bill is so big: “It’s just irresistible,” he said. “Congress says, ‘This is a freight train.’ They have to jump on because there might not be another for years.”.
The U.N. agency for Palestinian refugees suspended aid to the Gaza Strip on Friday? Why? Because representatives of the Palestinian’s government were stealing relief supplies from the UN. Well, at least, unlike ours, the Palestinian government makes no bones about what they are.
Smartphone sales were up 68% while iPhone sales topped 101% in 2008. No recession there.
Bush is gone but the left still can’t let him go. Will Ferrell demonstrates his case of BDS in a classless Broadway show. Yeah, I know, everyone’s a critic.
So how’s Obama doing so far? Well let this Brit clue you in.
In the modern world, the Left, who claim to be the romantic rebels and lovers of liberty, have become the dogmatic spokesmen of remote power. The Right, who are derided as supporters of dictatorship and closet ‘fascists’, are the real revolutionaries and romantics.