Sen. John McCain: 'I was misled on the TARP bailout'
Feb 24, 2010 at 12:21 AM
DailyBail in Bank Bailouts, TARP, bailout, henry paulson, john mccain, paulson, tarp, wall street

John McCain

McCain is a decorated buffoon:

Is this a joke.  He never had the slightest understanding of the bailout in the first place.  He hears toxic assets and his eyes glaze over.  This is a convenient train to board because Paulson changed the bailout proposal, but it shouldn't be used to excuse John McCain from his own stupidity.

And while we discuss liars, don't forget that McCain's Senate opponent in Arizona, JD Hayworth was a spending machine during his tenure in Congress.  Just saying.

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McCain Claims He Was Mislead

Sen. John McCain of Arizona … says he was misled by then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. McCain said the pair assured him that the $700 billion Troubled Asset Relief Program would focus on what was seen as the cause of the financial crisis, the housing meltdown.

“Obviously, that didn’t happen,” McCain said in a meeting Thursday with The Republic’s Editorial Board, recounting his decision-making during the critical initial days of the fiscal crisis. “They decided to stabilize the Wall Street institutions, bail out (insurance giant) AIG, bail out Chrysler, bail out General Motors. . . . What they figured was that if they stabilized Wall Street – I guess it was trickle-down economics – that therefore Main Street would be fine.”

 

 

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