Tags: mccain | bailout | vote | obama

McCain Rejects Wall St. Bailout Vote

Monday, 12 Oct 2009 01:23 PM

By Dave Eberhart

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Sen. John McCain, R-Ariz., appeared on CNN’s “State of the Union” this weekend and revealed that he now regrets the Wall Street bailout.

He was asked by John King about further government intervention in the still-faltering U.S. economy

“The president has said he’s considering new initiatives to help job creation,” King said. “They passed one stimulus plan and most Republicans, including John McCain, have been pretty critical of this $787-billion stimulus passed early in the year. Should the President do more now through government spending, though tax incentives or should he wait because, as you have said many times, we have so much red ink, we can’t afford much more?”

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

McCain, replied, “I would certainly look at any proposal that helps small businesses in America. I would look at proposals that help create jobs. This unemployment in my state is devastating – devastating around America.”

He added a bombshell, however, when revealing his thoughts on the Troubled Assets Relief Program (TARP) that, among other things, green-lighted the federal government to bailout the floundering financial sector.

“What we’ve done, unfortunately, is we bailed out Wall Street, now they’re making billions, they’re making the deals, they’re giving the bonuses, and because they were too big to fail, we pumped – I don’t know, we still haven’t had a full accounting – into those major financial corporations and told financial institutions.”

In 2008 McCain voted for the TARP bailout, but now revealed his disappointment in how the bailout went down .

“We told them they were too big to fail,” McCain told King. “We told the guy on Central Avenue that just shut down his storefront that he’s too small to save. There’s something terribly wrong with that picture, and we were off on the wrong foot by bailing out these financial institutions instead of addressing the housing crisis. And Americans have figured it out and they’re very, very unhappy.”

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved