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Clueless: In Meeting McCain Knew Nothing About Bailout

Posted by Steve Benen, Washington Monthly at 11:07 AM on September 26, 2008.


No wonder McCain sat silently while the grown-ups talked about fiscal policy at the White House yesterday.

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Yesterday, John McCain swung by Capitol Hill, not to advance the negotiations on the bailout proposal, but to coordinate strategy with House Republicans. Faiz highlights this gem from the Washington Post's coverage:

Boehner and McCain discussed the bailout plan, but Republican leadership aides described the conversation as somewhat surreal. Neither man was familiar with the details of the proposal being pressed by House conservatives, and up to the moment they departed for the White House yesterday afternoon, neither had seen any description beyond news reports.

At 1:25 p.m., McCain left Boehner's office through a back door, walking across the Capitol's rotunda to the applause of tourists. Graham conceded the group knew little about the plan the nominee had come to Washington to try to shape.

So, this week, McCain talked about a bailout proposal he hadn't read, and a few days later, had a meeting with lawmakers about a competing proposal he knew nothing about.

No wonder McCain sat silently while the grown-ups talked about fiscal policy at the White House yesterday; he couldn't think of anything substantive to contribute.

I sometimes get the sense that McCain is a con man, perpetrating an enormous fraud, hoping desperately that he can get through the next 38 days without anyone noticing he doesn't know what he's doing.

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Clueless forever
Posted by: Kitty Lady Oregon on Sep 26, 2008 11:45 AM   
Current rating: 5    [1 = poor; 5 = excellent]
McCain tried to get a trophy VP candidate and was clueless on her abilities. He is clueless on the economy. If it wasn't for Cindy, he'd be living in a mobile home in Arizona with the other geezers.

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Perhaps because...
Posted by: Quannah on Sep 26, 2008 11:54 AM   
Current rating: 5    [1 = poor; 5 = excellent]
this entire "crisis" is simply a manufactured one???

This entire debacle STINKS! They're up to something, and it smells like a set-up of some kind.

My "bullshit meter" has gone off the charts!

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» RE: Perhaps because... Posted by: Lauren
Where was Obama?
Posted by: buddyedgewood on Sep 26, 2008 2:35 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
Oh yeah, he's the smart one: don't comment on something you have no clue about or control over.

Keeping quiet may make you look like a fool, but opening your mouth most certainly would confirm the notion.

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» RE: Where was Obama? Posted by: Lauren
Keating Five
Posted by: Jeanne on Sep 26, 2008 3:07 PM   
Current rating: 5    [1 = poor; 5 = excellent]
We need to be forever reminded that McCain has been down a similar road before. His role in trying to fend off investigations by federal regulators in the late 1980s who were trying to get to the bottom of shady dealings in the savings and loan industry are eerily similar to his proclamations of being a deregulator earlier this year. McCain's willingness to help his friend, mentor, and financial benefactor Charles Keating to delay oversight until the S&Ls collapsed in the early 90s -- and Keating was convicted and spent 5 years in prison for his role -- was the precursor to the latest round of de-regulation in 1999 which has brought us full circle in less than a decade to another collapse. You'd think the man would have learned a thing or two from the previous experience. Apparently that old dog doesn't learn new tricks. Instead, McCain and fellow Republicans (and doubtless, a fair share of Dems) have busily been re-creating the economic conditions circa 1929 by repealing Glass-Steagall in 1999 and fueling a speculative market in which common sense played no role. Any dummy who can balance a checkbook could have told you that the practices now being exposed were insane. Only, it wasn't the job of the man on the street to monitor these sorts of things. It used to be government's job until these crooks got Congress to call off the regulators. One small piece of info I heard on National Public Radio: Investment banks were actually operating with a 30:1 loan to asset ratio. Based on that alone, I would say that they don't deserve to be bailed out. They deserve to collapse.

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McCain would bring the US endless war in the Middle East
Posted by: Garvagh on Sep 26, 2008 3:41 PM   
Current rating: Not yet rated    [1 = poor; 5 = excellent]
Obviously clueless about the proposed bailout, and obviously clueless about how the bring relative calm to the Middle East without bankrupting the US. I am referring of course to John McCain. It takes a McCain to verbally attack Iran and Russia in the same breath, when Iran also strongly objected to Russia's actions in Georgia last month. Would it not occur to McCain to think there is room here for discussion? Noooooo....

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