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McCain Financial Crisis Flip Flops - ABC News on

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CHARLIE GIBSON: And with apologies for our technical difficulties, we're going to turn back to the difficult economy, and the way the presidential candidates are dealing with it, particularly John McCain. Here's David Wright.
DAVID WRIGHT: John McCain was against the government bailout of AIG, before he was reluctantly for it. Here he was yesterday on "Today."
JOHN MCCAIN: We cannot bail AIG or anybody else. We have to work through it.
WRIGHT: Asked about the same topic today on "Good Morning America" -
MCCAIN: I don't think anybody I know wanted to do that. But there are literally millions of people whose retirement, whose investments, whose insurance were at risk here. And they were going to have their lives destroyed.
WRIGHT: Senator McCain appears to have changed his tune on regulation in a fundamental way. Today on the stump, he's a champion of reigning in Wall Street with tough regulations.
MCCAIN: We're going to put an end to the reckless conduct, corruption and greed that have caused a crisis on Wall Street.
WRIGHT: But for more than 25 years in the Senate, McCain has fashioned himself as a champion of smaller government, less regulation.
MCCAIN: I am less government, less regulation, lower taxes, et cetera.

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srry not 2005,but ... ( 3 months ago by perpetuallygrateful)

srry not 2005,but 2006,McCain said:
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislation.

So you see, McCain ... ( 3 months ago by perpetuallygrateful)

So you see, McCain was one of those who tried to reform the regulations on Fannie Mae and Freddie Mac. And don't say our financial crisis isn't Fannie and Freddie's fault. Alan Greenspan said in 2005 that if Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,''

continued from last ... ( 3 months ago by perpetuallygrateful)

continued from last comment: Greenspan said in 2005. ``We are placing the total financial system of the future at a substantial risk.''
The fact is that McCain fought for reform of Fannie Mae and Freddie Mac. If these reforms passed, we would not be in as big a mess as we are in now.

The media cant ... ( 3 months ago by RBHT42)

The media cant cover this up, no matter how much they want Obama... The Dems including Obama created this mess in the first place... Want proof, go to Bloomberg and search How the Democrats Created the Financial Crisis. or search for aSKSoiNbnQY0 on Bloomberg.

So John McCain ... ( 3 months ago by adv2k1)

So John McCain FAILED to get this done.
His own political party in control and YET he COULD NOT GET IT DONE as a Senator.
Incompetence shouldn't be rewarded with a Promotion.
If he couldn't get things done before, this just proves he is NOT worthy of being President.
Remember 1999 when he voted FOR the deregulation that helped ruined the economy, why didn't he have the foresight, and judgement to NOT vote for that 1999 Bill that helped CAUSE this nightmare.

KinGeorge's ... ( 3 months ago by moosenstine)

KinGeorge's policies, Corporate Whoredom,
have ruined this country. McCain=BUSH III.
Good Job KinGeorge/MISSION ACCOMPLISHED.

Of course he's flip ... ( 3 months ago by ksamsel01)

Of course he's flip flopping. Him and Phil Gramm masterminded the deregulation schemes that got us into this mess. This gut's a disgrace.

Bush fail Us! ( 3 months ago by nestorysusamigos)

Bush fail Us!

McCain is a disgrace ( 3 months ago by Silberdachs)

McCain is a disgrace

I was republican ... ( 3 months ago by jrdanks)

I was republican but Im voting for OBAMA now I see the light. McCAin has told too many lies and pulled too many stunts. He is a liar!!

McChicken is a flip ... ( 3 months ago by 1jazzsinga)

McChicken is a flip floppin liar!

Lol, I have to ... ( 3 months ago by corbaman)

Lol, I have to admit I was a huge fan of McCain. He's a great man. But a strongly disagree with his position to support continuing the Iraq war indefinitely. Bring the troops home!
We've already killed more than a million Iraq's and funneled over a trillion dollars out of the tax payers towards companies like Halliburton.
Time for it to stop!

SEIZE CRIMINAL ... ( 3 months ago by atmanman)

SEIZE CRIMINAL CAPITALISTS' ASSETS

Thank you, thank ... ( 3 months ago by JAILillegalEMPLOYERS)

Thank you, thank you, thank you... tell your friends!

Array ( 3 months ago by wodanowitz)

FUCK BUSH
FUCK McCAIN
FUCK PALIN
AND FUCK THE REPUBLICANS !!!

Old fucked up ... ( 3 months ago by wodanowitz)

Old fucked up retarded crazy McCain!
Go and fuck fucking Palin!
Fuck the republicans!

The problem is that ... ( 3 months ago by owchywawa)

The problem is that neither of the presidents will bring the troop home any time soon.

No Way, No How, No ... ( 3 months ago by HillaryfansforBarack)

No Way, No How, No McSame!

You are all idiots ... ( 2 months ago by bugsybeetle10)

You are all idiots if you think these clips are correctly showing his position. Charlie is telling you partial truths with partial clips to reinforce his distortion. He is against bigger government and is for deregulation in many areas. Senator McCain was against the high risk mortgages that the democrats forced on the mortgage companies to take. It dates back to President Carter. The democrats are the ones that caused the financial crisis we are in. Learn your facts morons.

To have a better ... ( 2 months ago by aaronbroadcast2008)

To have a better understanding of what caused the financial crisis and how we can remedy it please read a post titled "Why is the United States undergoing a political and Financial Crisis?" and watch the third video down labeled "The Money Masters" at:
The Art Dept Chronicles at blogspot.

cbs breaking news ... ( 2 months ago by ironsheik008)

cbs breaking news corpse of vampire found in texas funeral home.
/watch?v=H7GnVJ4hcBk

damn you!!! that ... ( 2 months ago by borlocomix)

damn you!!! that was the first time ever i got rick rolled!!!!!
good one :p

thats what im ... ( 2 months ago by SnowmanShadow)

thats what im talking about!!!!!

How the BUSH fam ... ( 2 months ago by whateverpall)

How the BUSH fam TOGETHER WITH the BIN LADEN fam MADE TENS OF MILLIONS OF DOLLARS WITH THEIR CARLYLE GROUP ON THE WARS IN IRAQ, AFGANISTAN... AFTER 9 11...
SEARCH THE VIDEO:
FAHRENHEIT 9 11 CARLYLE GROUP