McCain Flip-Flops on Mortgage Bailout for Homeowners
By Jon Perr Wednesday Oct 08, 2008 12:10pmDesperate to resuscitate his diminishing hopes for the White House, John McCain during tonight's presidential town hall meeting dramatically reversed course on a mortgage bailout for home owners. This spring, McCain adamantly stated "it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." Now with his presidential campaign and the economy in dire straits alike, John McCain decided to open the federal wallet after all.
McCain's born-again concern for American home owners represents a 180 degree turn from his Scrooge-like posture in March:
"Some Americans bought homes they couldn't afford, betting that rising prices would make it easier to refinance later at more affordable rates," he said. Later he added that "any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren't."
But right out of the gate tonight, McCain conjured up a massive new program to save his ailing campaign, if not Americans on the brink of foreclosure. Now, he insisted, the government should buy existing mortgages and reprice them at new market rates. That's a far cry from his hard line only months ago. On March 25, McCain pronounced that when all else fails for distressed homeowners, Americans should just join the rapidly growing ranks of those:
"Doing what is necessary -- working a second job, skipping a vacation, and managing their budgets -- to make their payments on time."
Now down if not out in the polls, McCain has dropped his past moralizing about not helping either "big banks or small borrowers." Of course, all along John McCain was only interested in helping himself.
UPDATE: Sadly for John McCain, he chose tonight of all nights to praise eBay and its former CEO Meg Whitman as his possible choice for Treasury Secretary. On Monday, eBay announced it was laying off 1,600 employees, 10% of its entire workforce.
(This piece was crossposted at Perrspectives.)
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Of course Mccain flip flops, he's a politician. So does Obama but I never say any thing critical of him on this site. This sites no different than Fox.
Remember Rev. Wright? Obama vs Hillary? FISA? Michelle Obama's "whitey" comment? Muslim, lapel pins, Resko, etc. Stop sniffing paint, OK?
Check out the commenting policy; this is NOT a straight news site, it IS a partisan site and they DO admit this.
Fox CLAIMS to be a straight news organisation. They LIE!
Do you have some evidence that this site knowingly lied or distorted some statistics or other talking point in order to give a faults impression about an partisan story? No? Well that means this site is nothing like FOX.
Dude, you don't come here often, do you? One example of how you're wrong: when Obama fip-flopped on FISA, most of us here railed against him.
I suggest that you stay with Faux Noise since that site seems to suit you better.
...More dementia.
After the debate reporters asked Mitt Romney about McCain's plan and Romney didn't seem to know anything about it. It must have been something McCain yanked from some orifice of his body at the last minute.
Was it pandering or a flip flop?
How about a panderflop?
Does Grandpa even know what he is saying...or is he simply hearing the voices in his head from all those years in Washington.
It really is sad to watch a person just simply come apart. The fact is...it's age, too much travel, late nites, too many facts...running for President is at least a two year marathon...and a 72 year old guy simply doesn't have the stamina.
Obama has handled McCain with kid gloves, despite vicious attacks from GOP surrogates and arrogance and contempt from his opponent. There was no win in attacking McCain, and if in fact it finally turns out that McCain does have medical or age related issues....Obama would have been skewered for attacking the old guy.
This can't end soon enuf. McCain is worse than done...he is starting to look foolish.
John McCain is NOT starting to look foolish.
He started that in the Naval Academy.
You see a lot of panderflop in the forests of China.
Especially when they get hold of a bad batch of bamboo.
UPDATE: Sadly for John McCain, he chose tonight of all nights to praise eBay and its former CEO Meg Whitman as his possible choice for Treasury Secretary. On Monday, eBay announced it was laying off 1,600 employees, 10% of its entire workforce.
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Yep, and the next piece of news we'll hear about this is that some off-shore site in India just picked up 1,600 newhires! Whitman is clearly the correct person to represent McCain's economic philosophy.
He's just tossing out names of campaign donors. Do you really think he bothers considering what a potential appointee's "philosophy" might be??
Ideology, philosophy. I think McCain will choose based on this quality above all - just like his Republican friends have done for years.
Did anyone mention that the Democrats already put this provision in the existing bailout?
Does that mean John McCain didn't know anything about this package he stopped his campaign to get involved in. . . or is he just following his usual practice of taking credit for someone else's work?
Maybe both?
He should stop calling himself a Maverick and start calling himself Mr. Opportunist.
He'll grab on to anything he thinks might benefit him politically.
If McCain is going to Freeze spending on everything but Military and Vets, then how does he pay for this bailout or health care or anything? Sounds like he has to raise taxes like his hero Ronald Reagan did 7 times!
Since when does McCain want to help the vets? I'm with Patricia - he's only looking out for himself.
If these banks want to save themselves let THEM reprice the mortgages at market rates. Simple enough. Doesn't require taxpayer money either.
McShame only mentioned Meg Whitman last night because hers was the second female name he could pull out of his ass. The first was Carly Fiorina but then he remembered that she's already left camp in disgrace.
WHY oh WHY didn't Obama mention that Ebay is scaling back?! It was an easy thing to do.
Bill Maher is right. Democratics fuck up a win everytime.
Well, now they've involved their surrogates into this "criminal activity" so it's time to go after Bill Platt for "inciting to violence". This man should know better but evidently he doesn't.
It's time to bring Patriot Act Charges against this obvious and appalling "incitement to violence" by this man - this time McCain's surrogate hate-monger.
This has to be stopped - it's a flagrant violation of the Patriot Act with the obvious violence which it brings in it's wake.
It's time to hold Bill Platt, GOP Chair, Lehigh Valley, Pa. to account for his actions or charge him legally under the Patriot Act for "inciting to violence" in the public arena.
Add the name of Bill Platt, GOP Chair, Lehigh Valley, Pa. to the list of violators of the Patriot Act. It clearly states that the public display of solicitation of domestic terrorism is against the law. This man should not be under full investigation just like the Sheriff of Lee County, Florida.
The Mc Lame rescue plan---when sucking it up just isn't enough for the whiners. The nerve of those
serfspeople, anyway.Mc Hijacker rides again! This supposed "McCain Resurgence Plan" never was his plan as Hank Paulson so articulately pronounced today during a Q & A following his speech to the american people.
When asked whether it's McCain's plan, he flatly said that this was "already within the existing plan" - nothing new here folks since Obama had it in his "4 point plan" for two weeks and each point was included in "the existing federal plan".
So there you have it - McCain, the incorrigible liar trying to take credit for the mortgage bailout plan which never was his to begin with.
It reeks of suspending his campaign, riding into Washington to sit mute at the table, and then taking calls by phone from his Md. residence.....oh...I forgot one biggie: cancelling the debate.
This man is a walking farce.
McCain just replaced his main pimp with another bigoted hate-monger intent on inciting to violence at this rally in Lehigh Valley today.
The intentional use of Obama's middle name as an "incitement to violence" has to be stopped and immediately.
It's bringing out the lowest, most horrific nature in the extremists attending these rallies and they know it. They're just "baiting" some of these unstable, radical individuals to take some sort of action like the continuous "death threats" at their violent rallies.
This reminds us of Adolph Hitler and the tactics of his Third Reich and is against everything this country has ever stood for.
It's time to make people who are so willing to violate the specifics of the Patriot Act, like Bill Platt, GOP Chair, Lehigh Valley, Pa. become accountable both to the laws of this country as well as to the people whom they represent.
If McCain doesn't have the morality and sense to abruptly put a halt to this hate-mongering and crowd-baiting, then americans should be protected in the public square by the Patriot Act on occasions such as these.
The McCain/Palin rallies have, literally, become "unsafe" for people and nothing is being done about it by the principals who should be ashamed of themselves.
Note to People: McCain/Palin "hate rallies" are not safe to attend any longer....pass this on to your friends.
Did anyone hear the anchor call Mayor Willie Brown "Willie Horton" by mistake?
Bill Platt is just a citizen like you and I and you know that if you or I were in a public arena intentionally attempting to create a violent reaction among the crowd, we'd be surreptitiously hauled off to jail in handcuffs.
It's time to demand equal treatment under the law. It's time to bring charges against Bill Platt or anyone else who is so willing to incite a crowd to violence.
This behavior is repugnant and illegal.
Oh brother...this goes from bad to worse.
I guess McCain's daily retinue includes licking his index finger, placing it high above his head and seeing which way the wind is blowing...geesh!
Whew, didn't know where you were going there with the licked finger. ;)
Caca" #936. LOL! The man can't catch a break!! Karma's a bitch.
The media is disgusted that McCain doesn't have the human decency or class to instruct his gophers that inciting the crowd to violence is not only against the law, punishable by personal indictment, but it reflects directly back to the top of the campaign in terms of legal and criminal responsibility - something which we know Palin's clueless about but which John McCain, with his supposed "experience factor" definitely should know about.
Actually, it reflects right back to his claims about being strong on "national security" of all things. In fact, this is the only area where he's shown some strength with voters at this point and he's so willing to throw all of that away for a few cheap, degrading, vulgar shots on his stump??
I find this level of self-destruction almost totally unbelievable myself since he professes to be so "strong on national security" and yet....and yet....he and his surrogates intentional incite to violence at each of his "terror rallies". Is he so hellbent on self-destruction that he's willing to sacrifice the one area which has been his strength....and so willing to ask american citizens to sacrifice their reputations and perhaps future to do this for him?
This is not over and it will not be over until each of these intentional attempts to incite to violence in direct violation of the laws of this country is fully investigated. Until that time, the people of this country will not rest but will press every civil rights organization in this country to bring justice to the perpetrators of these hate crimes.
here's the link
http://oxdown.firedoglake.com/diary/551#more-...
Pandagon has freeper comments up and they are just eating themselves over the rampant socialism of where they see McCain going:
http://pandagon.net/index.php/site/comments/t...
PFFT! That's the least of his worries or flip flopping... He's dun, finished, ka-put.. toast!!! Dryyy whaite toast noone should want to even look at let alone taste... I just ranted at length about this on the GOP whining thread below.. Check it out if interested... Short story? What a overrehearsed underperforming baffoon... The fact that he's flipping on this particular can-o-worms is just further illustration as to why his whole candidacy is morally, ethically bankrupt and completely devoid of common freaking sense...Yea the mortgage crisis needs help at the street level.. Anyone with the common sense god gave a pissant would have already known that.. Would have known it waaay the fuck back in March and before.... And not having to stand around a day late and a buck 2 ninty-eight short going ahh hommina hommina Ohhh I just want to help the little guy... His words are fucking bullshit! JD
PTSD: Confirmed and certifiable.
Having forfeited his one claim to fame (national security) with his incessant domestic terrorist claims to incite to violence the crowds at each of his rallies, I'd say that he has absolutely nothing left to offer the american people.
He's shot himself in the foot now. How can you suggest that you are "tough of national security" when you, at the top, are responsible for inciting to violence through racial slurs and bigoted innuendo in the public arena?
How does one spin those two meme exactly? Certainly not by smiling while people yell death threats from the audience - and certainly not when you ask your surrogates to imply that one's middle name suggests that he has a connection to Public Enemy #1 of the US - Osama Bin Laden. Pray tell, never would an upstanding citizen like John McCain stoop to these charades, would he?
Is this the same John McCain who is asking us to believe in his ethics?
Is this the same John McCain who claims to protect us from the very violence he now tries to incite at his rallies?
Which John McCain is this? Is this the "palin-ized version of John McCain" acting like a scorned women who's been outed for the empty vacuum whom she is and who has been used as a total "tool"? Is this the John McCain who claims to have the lock on National Security and protecting american citizens.
Because is this is that same John McCain, then I suggest that this man has a dual personality. This same John McCain, who smiles while people spout death threats is NOT a man whom I would feel comfortable about having as my leader.
How can any american ever feel safe in the public square with this hate-monger and incitor to violence on the loose?
The McCain Palin rallies have become "dangerous to your health and dangerous to your safety" and the base has none other than John McCain, protector of national security who doubles as a front man for homegrown terror and inciting to violence heading these disrespectful displays instigating the most base and worse aspects of humanity.
This is certainly not a man whom I can ever respect for doing something so obviously reprehensible and condoning domestic terrorism right in our faces.
Now with his presidential campaign and the economy in dire straits alike, John McCain decided to open the federal wallet after all.
____________________________________________________________________
http://www.youtube.com/watch?v=aNaKWXqXkhw
)O(
Today McCain elaborated on his homeowner rescue plan. The US government would buy the mortgages at FULL VALUE then re-appraise the house and redo the loan for the home owner.
By the way. As Obama pointed out some time ago, the government ALREADY has the power to do this. The GOP and McCain have been fighting this tooth and nail till they figured out a way to stick the government with all the loss. Pathetic.
(After their $440k executive retreat), AIG receives another $37.8 billion in loans from The Federal Reserve.
From NYT:
http://www.nytimes.com/2008/10/09/business/ec...
McCain's been flopping around his whole career like a gaffed salmon. If anyone in the MSM had wanted to take notice of that fact they would have done so before now. I don't expect the subject will come up much in the next thirty days. Except maybe here and a few similar blogs..
I mean, we've experimented with the variable rate loan, and now we're apparently going to experiment with variable PRINCIPLE loans...
We'll allow people to refinance when their house value goes UP, and apparently we're going to let people refinance when their house LOSES value...
Where's the downside?
How can any of you justify stealing from ME so someone else who was foolish enough to deal with a banker gets away with poor financial planning?
I didn't play the usury game this past twenty years. I have some integrity, after all. But that won't keep me from having to pay for the mistakes of someone else.
Screw you people, and what you THINK is fair.
I'm with you. I feel like a sucker having lived my life within my means and at times doing without 'fun things' to make my bills.
There is no reward for personal responsibility.
No mention that Biden said this last week in his VP debates?
Surprising.
Just watch this video. It explains a lot about the current mortgage crisis.
http://www.youtube.com/watch?v=H5tZc8oH--o
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