McCain says economy in crisis

[maddezmom]

Source: AP

WASHINGTON (AP) — Republican presidential nominee John McCain, who only a week ago said the economy was fundamentally sound, now says the U.S. financial system is facing a major crisis.

Speaking Monday on NBC's "Today" show McCain said, "We are in the most serious crisis since World War II."

He also said that despite the ballooning national debt he would not raise taxes if elected president.



Read more: http://ap.google.com/article/ALeqM5g6OTvvWxmdp5Q2IvjYry...

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Today Show interview: McCain: I Believe In Regulation!

http://today.msnbc.msn.com/id/26184891/vp/26834408#2683...

from 60 minutes interview Sunday: McCain defends, Obama blames deregulation

WASHINGTON (AP) — Sen. John McCain defended deregulation on Wall Street even as he endorsed a $700 billion bailout of financial firms in an interview broadcast Sunday.

His opponent in the presidential race, Democratic Sen. Barack Obama, said an inadequate regulatory system was partly responsible for the crisis. Both candidates were interviewed on CBS' "60 Minutes."

McCain, the Republican presidential nominee, has long supported fewer regulations for businesses. But as the financial crisis on Wall Street worsens, McCain is calling for more government. Obama said McCain is late in calling for better oversight after years of supporting fewer regulations.

McCain was asked if he regretted supporting a 1999 law that removed barriers between investment banks and commercial banks that were erected in 1933, in response to the 1929 stock market crash.

"No," McCain said. "I think the deregulation was probably helpful to the growth of our economy."

more: http://www.democraticunderground.com/discuss/duboard.ph...

[thecrow]

1. Oh so he's changed his position since last... what day was it

LAST WEEK?

OBVIOUSLY he can't be trusted.... he blows in the wind.
Let me rephrase that.......

[Bake]

20. Skip the "in the wind" part

He blows. That says it all.

Bake

[southern_belle]

2. duh! McCain's such a genius!

[GinaMaria]

3. Well at least he's caught up to

last week's new For someone who doesn't hesitate, he sure doesn't comprehend the situation too quickly does he? React React React then think... McCain is as big a failure as *. These people have to go.

[OhioChick]

4. But, but, but....

I thought he just said the economy was "fundamentally sound?"

[TheCowsCameHome]

5. Last week it was "sound". I'm shocked.

McCain is a useless fool.

[qanda]

6. Who is he... Rip Van Winkle?

Did he just wake up? We've known this for quite a while now, but thanks for sharing... Sherlock!

[Cassandra]

12. He can't be Rip Van Winkle...

because that would suggest he had woken the fuck up and he hasn't yet, really.

[LunaSea]

7. McCains economy, on the other hand...is just fine.

[RUMMYisFROSTED]

8. McCaptainObvious?

[gblady]

9. No shit, Sherlock!

[Xipe Totec]

10. Worst crisis of the Dubya Dubya Two presidency nt

[Jim__]

11. But the fundamentals are strong, right John?

Is it possible for this guy to hold any postion from one day to the next?

[MetaTrope]

13. Here's hoping he doesn't lose more than 5 of his houses

And manages to keep the corporate jet.

[Zambero]

15. Or more than 10 of his cars

Cindy's beer money should preclude such an event however, since alcohol consumption usually heads north whenever the economy goes south!

[bdamomma]

14. no shit.

[endarkenment]

16. It is a fundamentally sound crisis. nt

[City Lights]

18. LOL!

Thanks or the laugh!

[LynnTheDem]

17. Now that's a

FLIP...FLOP...FLIP FLIP ...FLOP...FLOP FLOP FLOP...FLIP...

[apnu]

19. McCain also said the sky was blue and water is wet.

[damntexdem]

21. But are the fundamentals in crisis?

Sure they're sound; but do they sound like they're in crisis?

[cyr330]

22. No, shit, sherlock. . .

And you, McInsane, helped cause it!!

[BootinUp]

23. Good job weather vane McCain! nt

[all.of.me]

24. The fundamentals must have all been laid off! nt

[yellowcanine]

25. Call the paramedics and have that poor man checked for whiplash.

[crossroads]

26. Y:ou think? McCain - U R An Idiot! nt

[Solly Mack]

27. He has to have whiplash by now

[olddad56]

28. This is so Dubya,....

A month ago McBush was saying "I don't know much about the economy" and he has proven that to be true. Last week he was saying "The economy is strong" which again proves his first statement. Now he is saying "The economy is in crisis". He must have heard that on TV.


This guy is not even suited for his roll as place holder for the next real moron, Sarah Palin.

[btpull1]

29. This is just a preview

This is just a preview of the FINANCIAL CRISIS our federal debt is leading us towards.

[depakid]

30. "since World War II?"

[tabasco]

31. The man is a fucking genius!

I'm voting for him now!

[Nihil]

32. "A day late and a dollar short" but in his case ...

... it's "a week late and 85 billion dollars short".

Moron.

[truthisfreedom]

33. McCain poops diapers, says Palin perfectly capable of changing them.

Smell overwhelms entire Press corps.

[vendredi]

34. K&R