McCain commits economic gaffe, uses wrong acronym for Investor Protection Corporation.
By on Sep 16th, 2008 at 4:28 pm
McCain commits economic gaffe, uses wrong acronym for Investor Protection Corporation.
During a speech in Tampa today, John McCain demonstrated again that the economy is not something he understands as well as he should. He twice incorrectly referred to the “SPIC,” when intending to refer to the SIPC (the Securities Investor Protection Corporation) — a corporation that “return[s] customers’ cash, stock and other securities” if a brokerage goes bankrupt. Watch McCain’s gaffe:
McCain called the “SPIC” a regulatory agency. In fact, as Andrew Jakabovics explains, SIPC’s own website states that it is “neither a government agency nor a regulatory authority.” He writes, “For a man concerned about protecting the average American from Wall Street greed, [McCain] seemed not to know who plays what role.”
UpdateDuring a second campaign rally in Vienna, OH, McCain repeated his gaffe, referring to the SIPC as the "SPIC" multiple times.
UpdateThe McCain campaign has scrubbed the transcript of McCain's gaffe.
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41 Responses to “McCain commits economic gaffe, uses wrong acronym for Investor Protection Corporation.”
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freud much?
September 16th, 2008 at 4:30 pmAnd the hits just keep on coming! You da man, Johnny Boy!
September 16th, 2008 at 4:31 pmGramps McCain had SPIC on his mind because he was trying to remember if he and Cindy had paid taxes on the income of their maids and butlers at their 7 estates.
Just saying . . .
September 16th, 2008 at 4:33 pmSPIC?????
McNumbNuts not going to attract the Hispanic vote with that kind of mistake, either.
September 16th, 2008 at 4:34 pmO/T, but...
The GOOP has just sued up in Alaska to stop the Troopergate investigation until AFTER the election. They claim... ***cough*** the whole thing has gotten "too political" and shouldn't be allowed to influence the election...
Riiiiiiiiiight... like their lawsuit isn't politicly motivated and meant to influence the election... oh... the irony.
September 16th, 2008 at 4:37 pmI believe he was referring to...
Stupid
September 16th, 2008 at 4:38 pmPeople
Ignoring
Consumers
Ordinarily, I'm not one to focus on the verbal mistakes that a person might make in the midst of dozens upon dozens of speeches.
But... with McCain, it happens regularly and on matters where its absolutely crucial that you have the right answer. That scares me.
September 16th, 2008 at 4:39 pmAnyone wanna bet that the GOOPers aren't buy racking their little pinheads right now, trying to come up w/ some sort of "legal opinion" that allows Botch to throw his magic cape of "Executive privilege" over the whole affair?
Perhaps they can just declare the entire state of Alaska a "no-fly zone"...
September 16th, 2008 at 4:41 pmBack about a year and a half ago when John McCain could seemingly be trusted to at least tell the truth, even if it wasn't what you wanted to hear he explained he didn't understand the economy. Actually, he qualified the statement saying 'not like he should.'
I believed him then, and it is more obvious than ever now. He's called Phil Gramm one of his most trusted economic advisers - if that don't scare you into voting for Obama, something is wrong with you!
September 16th, 2008 at 4:41 pmMaybe he was singing?
And the money kept rolling in from every side
September 16th, 2008 at 4:42 pmEva's pretty hands reached out and they reached wide
Now you may feel it should have been a voluntary cause
But that's not the point my friends
When the money keeps rolling in, you don't ask how
Think of all the people guaranteed a good time now
Eva's called the hungry to her, open up the doors
Never been a fund like the Foundation Eva Peron
Totally OT but, a must read. This is so good I read it twice.
September 16th, 2008 at 4:46 pmhttp://rawstory.com/news/2008/War_crimes_conference_plans_prosecution_of_0915.html
BUT BUT BUT...He's got a 30 point lead here in headupmyassistan. The fact that this thing is close and Obama doesn't have a 50 state +DC lead makes me week for my country.
September 16th, 2008 at 4:47 pmHe musta been thinking about immigration?
September 16th, 2008 at 4:47 pmSPIC, SPOOK, GOOK.....THEY'RE ALL THE SAME TO GRAMPY.
September 16th, 2008 at 4:48 pm(12)
week=Weep :)
September 16th, 2008 at 4:49 pmAs gaffes go, this appears at first glance to be just a brain-fart misspeak (sort of like "57 states"). Except that he did it twice, which puts it out of the "misspeak" category and into the "I didn't do my homework very well" category.
It's obviously not an acronym McCain is accustomed to using, so I imagine he only recently has been briefed on what the SIPC is.
September 16th, 2008 at 4:50 pmOh my!
September 16th, 2008 at 4:52 pmMcSame is suffering from old age.
September 16th, 2008 at 4:55 pmDon't believe the polls.
September 16th, 2008 at 4:56 pmI believed him then, and it is more obvious than ever now. He’s called Phil Gramm one of his most trusted economic advisers - if that don’t scare you into voting for Obama, something is wrong with you!
Phil Gramm is one of the two guys whose heads would be on the ends of pikes in any country ruled the way they'd prefer this one to be ruled, for their manipulation of the USer economy. The other: Mr. Andrea Mitchell, the lugubrious Alan Greenspan...
Look for some examples of Chinese Civil Justice soon in conncetion with the poison milk scandal. So far, four people have been 'detained' by Chinese officials in the aftermath of the deaths of several children and the injury to scores upon scores of others from the introidcution of the chemical melamine into milk powder produced in China to make it look richer.
Usually what happens to malefactors in the Chinese corporate State who embarrass the regime like this is that they get a quick, and mostly pro foma trial, at the end of which they are convicted and sentenced to death. Thereupon they are usually issued shovels and orders to dig a hole. When the hole is completed, they are stripped to their underwear and shot twice, in the head, at close range, and their bodies dumped into the holes they dug, where they are covered with quicklime and quickly forgotten.
Since these egregiously embarrassingly events do still seem to occur fairly regularly in 'corporat/commie' China, there is perhaps not much deterent effect. But it does prevent recidivism 100% of the time.
September 16th, 2008 at 4:56 pmHmmmmmm. Looks like Palin has another "Bridge to nowhere" in the works also.
Dem hopes to spike Palin's second 'bridge to nowhere'
"A $600 million bridge and highway project to link Alaska's largest city to Palin's town of 7,000 residents is moving full speed ahead, despite concerns the bridge could worsen some commuting and threaten a population of beluga whales,"
I wonder how well this will go with her "Thanks but no thanks" lies?
September 16th, 2008 at 4:59 pmThat stupid mic! Who's he calling a SPIC?
September 16th, 2008 at 5:02 pmMcCain's cousin won't even vote for him. Read here:
September 16th, 2008 at 5:10 pmhttp://www.michaelmoore.com/mustread/index.php?id=1047
He meant:
September 16th, 2008 at 5:10 pmSPIC = (S)arah (P)alin (Investigation) (Committee).
He may not know as much as he should about economics, but he could tell you a few things about stormfront.
September 16th, 2008 at 5:16 pmAmazing how MacCocaine and Sarah Jesus Paling have no idea of how domestic and global economy works... Does Sarah Jesus Paling thinks dinossaus are 4000 years old?!!! How old is her dinassour running mate?
September 16th, 2008 at 5:17 pmOK, I wouldn't vote for McCain if he was the only one running but isn't the acronym thing just a little petty? I always call OSHA the Occupational Health & Safety Administration. Does that mean I don't know what administration I'm referring to?
Now, the fact that he does not understand SIPC is not a regulatory government agency, that's a little disconcerting. (The "corporation" would give you some indication ...)
September 16th, 2008 at 5:21 pmHere is a man who lies many times every day. He helped invent Blackberry (even though he's unsure of how to email) -- yeah, right-- it's a Canadian company & invention, you buffoons! He understands the economy-- what?? He thinks the economy is solid & good at present-- is he asleep?? When McCain initially admitted he knows little about the economy, we had no idea how little-- he is totally out of touch. And to say he helped invent Blackberry? He must think there is no data whatsoever to refute his lies. This is a delusional, stupid man. And Palin?? Well, she knows about 95% less than he does. She is a cheerleading, gun-toting, woman-hating airhead. And that ain't sexist-- it's what she is. Sorry, Repubs, but facts are facts. The media need to nail this ignorant woman for what she is - completely uninformed about anything majorly political in the U.S., stupid about what a VP does, vindictive & vengeful, promoter of the deprivation of women's rights. If Repubs & women vote her in, they are completely against the U.S. They are America-haters, for it is obvious they vote only on superficialities, not on intelligence & substance, not on policies. They want a doofus, not a real leader who will improve U.S, relations in the world. They are anti-American.
September 16th, 2008 at 5:26 pmHe should have used the Google and the interwebs to look up the facts first.
September 16th, 2008 at 5:28 pmAs the meltdown on Wall Street continues, American voters would do well to regard John McCain and his Republican Party with suspicion when it comes to the resuscitating the economy. But McCain's acknowledged ignorance on economic issues, happy talk about strong "fundamentals," ties to lobbyists and disturbing involvement in the 1980's savings and loan disaster aren't the only reasons voters should flock to Barack Obama for solutions to the mushrooming financial crisis. As history has proven time and again, Wall Street and the economy overall simply do better under Democratic presidents.
For the details, see:
September 16th, 2008 at 5:35 pm"History Lesson: Wall Street, Economy Do Better Under Democrats."
Why do I think he meant the SPCA?
PEACE
September 16th, 2008 at 6:40 pmAll John mcane needs to know is how to open a dividend envelope.
September 16th, 2008 at 7:12 pmHe can’t even communicate during a campaign, at this rate he'll be mute by January 21, 2009.
September 16th, 2008 at 8:27 pmWell senator Kerry was picking the bones of Dead Senator Hinze by marrying his widow. What a pig,
September 16th, 2008 at 8:51 pmWell, you know, John McCain still calls all Vietnamese GOOKS, so I can understand his subconscious slip involving SPIC.
And John McCain does have a pet name for his multi-millionaire wife, which I won't repeat, but does rhyme with the last name of the former host of "Candid Camera," FUNT.
September 16th, 2008 at 9:22 pmLet's see, MCain doesn't know the difference between Sunni and Shia; he doesn't know that Iran and al Qaeda are enemies, he sometimes confuses Somalia and Sudan, he thinks Afghanistan borders Iraq, and he can't remember what the Commerce Committee does---when he used to be its chairman.
September 16th, 2008 at 10:39 pmI think it's time for the ol' Alzheimer's test.
remohes Says:
Well senator Kerry was picking the bones of Dead Senator Hinze by marrying his widow. What a pig,
September 16th, 2008 at 8:51 pm Add Karma Recommend (0) | Report Abuse
Get a LIFE AND something other than talking points...TROLL...
September 17th, 2008 at 1:45 amUpdate: The McCain campaign has scrubbed the transcript of McCain's gaffe.
So it's all SPIC and span now?
September 17th, 2008 at 2:04 amScrubbed the transcript? Warts and all? Must have taken a lot of Spic n' Span.
September 17th, 2008 at 7:42 amLet me see if I got this straight ...
You and your brother came to my house and after promising me that you would clean-up and fix everything ... you left it worse than when you came ... and then you did some double-talk and promised me you'll do better next time and so I re-hired you but now the house is worse than ever.
Now your brother comes over and claims that he has taken over the company and that he'll "change" things.
So now I'm supposed to re-hire your brother to "change" and clean the mess that wasn't there before I hired the both of you 8 years ago.
Do I have "stupid" written on my face?
September 17th, 2008 at 9:31 amremohes Says:
>>>>>>>>>>>>>>>>>>>>>>>
Something monumentally stupid which is the ONLY thing the ignorant troll is capable of.
September 17th, 2008 at 12:35 pm