McCain the great Economist

SamFisher · Sep 17, 2008

IROC it said:

The McCain vocalization was in 2005. Three years ago.
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No genius, it was on May 25, 2006 according to Thomas.gov and the link you provided.

2006 > 2005

THOMASOWNED

IROC it · Sep 17, 2008

SamFisher said:

No genius
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Never claimed to be one... research when he began to speak out.

JayZ750 · Sep 17, 2008

rimrocker said:

Find me a homeowner who bundled a bunch of bad mortgages.
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well, he did say homeowners plural, which is true.

I don't think McCain is completely ignorant of the economy outside of his 7 houses (though I heard it is actually 9...whatever). I think he was trying to say one thing but it came out as a soundbite that's going to bite him in the butt. Similar to the lipstick comment by Obama...though not quite to that level of misrepresentation. The Obama campaign should be all over this. If you're going to dish it out (McCain), better be ready to take it back.

mc mark · Sep 17, 2008

mano-a-mano with Sean Hannity starting tonight. Here's a preview:

43 seconds

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rimrocker · Sep 17, 2008

McCain's John Kenneth Galbraith compared to Palin.

Excerpts from the Hannity interview...

Palin said:

On fixing the economy:

“Through reform, absolutely. Look at the oversight that has been lack, I believe, here at the 1930s type of regulatory regime overseeing some of these corporations. And we’ve got to get a more coordinated and a much more stringent oversight regime…government can play a very, very appropriate role in the oversight as people are trusting these companies with their life savings, with their investments, with their insurance policies, and construction bonds, and everything else.

“When we see the collapse that we’re seeing today, you know that something is broken and John McCain has a great plan to get in there and fix it.”
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His plan is a commission and what does that first sentence even mean? She does know the New Deal occurred in the 1930's, right? Right?

Palin said:

On the danger of a presidential candidate using the economy for political gain:

“Well, there is a danger in allowing some obsessive partisanship to get into the issue that we’re talking about today…It is that profound and that important an issue that we work together on this, and not just let one party try to kind of grab it all or capture it all and pretend like they have all the answers. It’s going to take everybody working together on this.”

On who is responsible for the failing financial institutions:

“I think the corruption on Wall Street. That’s to blame. And that violation of the public trust. And that contract that should be inherent in corporations who are spending, investing other people’s money, the abuse of that is what has got to stop.

“And it’s a matter, too, of some of these CEOs and top management people, and shareholders too not holding that management accountable, being addicted to, we call it, OPM, O-P-M, “other people’s money.”

“Spending that, investing that, not using the prudence that we expect of them. But here again, government has got to play an appropriate role in the stringent oversight, making sure that those abuses stop.”

On AIG getting government bailout:

“Well, you know, first, Fannie and Freddie, different because quasi-government agencies there where government had to step in because of the adverse impacts all across our nation, especially with homeowners.”

“It’s just too impacting, we had to step in there. I do not like the idea though of taxpayers being used to bailout these corporations. Today it was AIG, important call there, though, because of the construction bonds and the insurance carrier duties of AIG.”

“But first and foremost, taxpayers cannot be looked to as the bailout, as the solution to the problems on Wall Street.”
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Moron. Taxpayers are the only solution right now.

Palin said:

On reaction to Obama’s attack on McCain for saying that the “fundamentals” of the economy are strong:

“Well, it was an unfair attack on the verbiage that Senator McCain chose to use because the fundamentals, as he was having to explain afterwards, he means our workforce, he means the ingenuity of the American people. And of course, that is strong and that is the foundation of our economy.”

“Certainly it is a mess though, the economy is a mess. And there have been abuses on Wall Street and that adversely effects Main Street.”

“It is, somebody was saying this morning, a toxic waste there on Wall Street, affecting Main Street. And we’ve got to cure this.”

On if there should be an investigation on relationships between political donations from Fannie and Freddie Mac and the bankruptcy and its impact on the economy:

“I think that’s significant, but even more significant is the role that the lobbyists play in an issue like this also. And in that cronyism — it’s symptomatic of the grade of problem that we see right now in Washington and that is just that acceptance of the status quo, the politics as usual, the cronyism that has been allowed to be accepted and then it leads us to a position like we are today with so much collapse on Wall Street. That’s the reform that we’ve got to get in there and make sure that this happens. We’ve got to put government and these regulatory agencies back on the side of the people.”

On how she and McCain can follow through on their promises in a divided Washington:

“Yes it is gridlock and that’s ridiculous. That’s why we don’t have an energy policy, that’s why there hasn’t been the reform of the abuse of the earmark process. And real reform is tough, and you do ruffle feathers along the way. But John McCain has that streak of independence in him that I think is very, very important in America today in our leadership. I have that within me also. And that’s why John McCain tapped me to be a team of mavericks, of independents coming in there without the allegiances to that cronyism, to that good ole’ boy system. I’m certainly a Washington outsider and I’m proud of that because I think that that is what we need also.”
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http://thepage.time.com/excerpts-from-palins-hannity-interview-part-i/

The whole thing makes me want to puke.

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