McCain: Economists tell me, ‘You don’t understand how serious’ the financial crisis is.
By on Oct 3rd, 2008 at 8:40 pm
McCain: Economists tell me, ‘You don’t understand how serious’ the financial crisis is.
In an interview with the Denver Post yesterday, Sen. John McCain (R-AZ) attempted to explain why he voted for the Wall Street bailout, despite previously saying that a bill that included earmarks would be “unacceptable.” McCain remarked, “I talk to…economists that have said, ‘Look, you don’t understand how serious — ’” before cutting himself off. Seeming to realize that he was once again admitting he doesn’t understand the economy, McCain corrected himself saying, “I mean, ‘We have to understand how serious this is.’” Listen here:
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I’m betting experts in a lot of disciplines tell Grampy he doesn’t understand stuff about their fields.
October 3rd, 2008 at 8:44 pmthe Freudian Slip express is alive and well…
October 3rd, 2008 at 8:46 pmWell economics is a subset of witch craft so his VP can probably cover that
October 3rd, 2008 at 8:56 pmRalph, you beat me to it! It was a great straight line and too good to pass up. Thanks for being the 1st response :-).
October 3rd, 2008 at 9:26 pmLOL – all day posts bloggin’ bangin’ on mclame/palin when obama/biden voted for the exact same bailout!
When even mclame and shillary knew better than to sell out the 4rth ammendment to the most unpopular president in US history.
Each of these, examples the population overwhelmingly rejected, yet some want to proclaim, “but they had to!”
October 3rd, 2008 at 9:26 pmIf in the glare of lights, in the middle of an interview, speaking into a microphone, McChurian candidate says such dumb things which show his ignorance….
If so, what dumb things will he say when trying to negotiate with foreign leaders ?
President Ahmadenijad, I don’t understand this nuclear stuff, so could you give me the information I need ?
October 3rd, 2008 at 9:27 pmThere are reports (see TPM) that mclame is getting angrier and angrier. Do you think he may have realized that selecting palin, even if he somehow wins the next election (read: steals), will only result in her getting everything he wanted because:
(1). he will not live long enough to get it.
(2). the folks that are now behind the show probably want him to die as soon as possible anyhow.
“Best case” scenario for him is he gets a glimpse of the rewards the next chimpy-style pResident will be bestowed with.
October 3rd, 2008 at 9:31 pmWhoops, let’s skip this stuff and fly down to Rio to get paid!
October 3rd, 2008 at 9:40 pmCongress just handed arch-conservative Paulson a $700 Billion Slush Fund just over one month before a major national election.
Remember the CREEP Slush Fund? Richard Nixon’s Campaign to Re-elect the President Slush Fund?
How will we know (especially before the November election) if arch-conservative Paulson diverts some of this Bail-out Slush Fund to Republican political activities, in an attempt to get McCain and Palin in the White House?
CREEP’s criminal Republican activities happened before Nixon got re-elected in 1972, but American citizens didn’t discover the true extent of Nixon’s criminal acts until a couple of years later. Nixon was forced to resign, although he should have been impeached.
I suspect a similar Republican plot involving this “manufactured” Wall Street crisis, with Congress being rushed into handing over to arch-conservative Paulson hundreds of billions of dollars just over a month before a major election…with very little oversight and any reporting on Paulson’s pre-election activities with our money only happening months after the November election has been decided.
None of this, in my view, happened by chance.
Paulson, as Treasury Secretary, blowing off all the Wall Street warning signs, and then rushing an appropriations request before Congress just six weeks before the November election, with Paulson and the Republicans “talking up” the fear, trying to stampede our representatives in Congress into forking over the $700 Billion with no strings attached, no oversight, no accountability.
This sure sounds like another corrupt neo-con Republican “con job” to me.
I wonder if Paulson will keep any receipts showing how he disbursed our money over the next four weeks? I doubt it. He’ll handle it just like Nixon’s CREEP handled their illicit money disbursements in the early 1970s…in the shadows…probably with nothing that Paulson does with our money in the next four weeks every coming to light…or so the corrupt Republicans hope.
October 3rd, 2008 at 10:20 pmCongress threatened with Martial Law if they did not pass extortion scam:
http://www.youtube.com/watch?v=HaG9d_4zij8
October 3rd, 2008 at 11:18 pm“Look, my flip-flopping is important to the uninformed voter because as long as I can confuse them and look like I’m doing something, I give the impression that I’m relevant and presidential. I lay out my soft as a pillow tough talk and Sarah gives the thought of laying on that pillow in a little something. Every man wants to be the gorilla…I always want to be the gorilla when Sarah is in the room!”
October 4th, 2008 at 1:04 amSenior moment?
October 4th, 2008 at 1:05 amI really hope the Obama campaign catches wind of this. After McCain says it you can tell that he realized he just made another gaffe.
This, with his fundamentals comment 2 weeks ago will seal the deal for Obama.
October 4th, 2008 at 1:21 amWhat a fu(kwit. He admits that he doesn’t know shit, and then discovers he’s ratted himself out.
Oh, and by the by, those economists are right.
October 4th, 2008 at 2:21 amRep. Waxman is going to hold hearings to find out how we got in this “Situation”.
The American Public needs to Understand what “leverage” means, and about a meeting held on April 28, 2004.
The NY Times lays it all out….the smoking Gun:
http://www.nytimes.com/2008/10/03/business/03sec.html?pagewanted=1&_r=1&hp
from the excellent article:
“On that bright spring afternoon, the five members of the Securities and Exchange Commission met in a basement hearing room to consider an urgent plea by the big investment banks.
They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments.
The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.”
October 4th, 2008 at 7:16 amLook who the biggest recipient of Wall Street Contributions:
http://www.washingtonpost.com/wp-dyn/content/article/2007/04/17/AR2007041701688.html
October 4th, 2008 at 11:30 amWell John, if the economists you seek advice from say that you don’t understand the problem, I guess I have little choice but to accept their professional opinion.
October 4th, 2008 at 11:59 pm