Something is wrong with this guy
McCain Flip-Flops On AIG Bailout: Rejects It Tuesday, Says It's Okay Wednesday
GLEN JOHNSON | September 17, 2008
Huffington Post
ORION TOWNSHIP, Mich. — Republican presidential candidate John McCain, a day after flatly rejecting the idea of a taxpayer bailout for American International Group Inc., said Wednesday that the government had been "forced" into proposing an $85 billion loan to the nation's largest insurer.
McCain appeared to soften his opposition to the bailout proposed by the Federal Reserve, treating the plan as a necessary evil to protect ordinary Americans with finanical ties to AIG _ and asserting that such a financial collapse should not be allowed to happen again. He also called for an investigation to uncover any wrongdoing.
"The government was forced to commit $85 billion," McCain said in a statement. "These actions stem from failed regulation, reckless management and a casino culture on Wall Street that has crippled one of the most important companies in America."
"The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG," he added. "We must not bail out the management and speculators who created this mess."
(Continued here.)
GLEN JOHNSON | September 17, 2008
Huffington Post
ORION TOWNSHIP, Mich. — Republican presidential candidate John McCain, a day after flatly rejecting the idea of a taxpayer bailout for American International Group Inc., said Wednesday that the government had been "forced" into proposing an $85 billion loan to the nation's largest insurer.
McCain appeared to soften his opposition to the bailout proposed by the Federal Reserve, treating the plan as a necessary evil to protect ordinary Americans with finanical ties to AIG _ and asserting that such a financial collapse should not be allowed to happen again. He also called for an investigation to uncover any wrongdoing.
"The government was forced to commit $85 billion," McCain said in a statement. "These actions stem from failed regulation, reckless management and a casino culture on Wall Street that has crippled one of the most important companies in America."
"The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG," he added. "We must not bail out the management and speculators who created this mess."
(Continued here.)
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