Run time: 02:32
https://www.youtube.com/watch?v=0ZQH2W7xJzA
Posted on YouTube: October 12, 2008
By YouTube Member:
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Posted on DU: October 12, 2008
By DU Member: fasterdemocratkilkil
Views on DU: 1538 |
All of us can agree that John McCain's immediate response to the Subprime Mortgage Credit Crunch Bailout Rescue Crisis was one of the most damned bizarre things we've ever seen in politics. Many of us were left scratching our heads, saying WTF?, and laughing at our good fortune to be running against one of the worst managed political campaigns since Mondale in '84 (no disrespect meant to Mondale, but he muffed it).
Amidst the "suspension" of McCain's campaign, him rushing to D.C. to nuke a bi-partisan bail out bill, and then taking credit for the final deal a couple of key points got lost in the shuffle.
1) Among the changes he thought were so important to make to the original plan were corporate tax breaks and more deregulation.
2) He didn't mind bailing out Wall Street when it came time, but was one of only 16 senators who didn't vote for the 300 Billion dollar homeowner rescue bill in July 2008 (Housing and Economic Recovery Act of 2008. H.R. 3221)
3) Eleven of the Top 20 contributors to McCain in 2008 are banks and investment firms.
McCain doesn't seem to care as much about the foreclosures as he does about it's impact on Wall Street. Notice how he kept on stating and restating how "the fundamentals of the economy are strong" while millions of Americans were being thrown out of their homes, but only rushed back to work when the crisis overwhelmed corporate America?
Who exactly does John McCain work for? The "nation of whiners" or the corporate contributors to his campaign?
Take a look at the video I edited together about this question and let me know what you think. Am I being too hard on McCain? Or do you think he sincerely believes that corporate tax breaks and more deregulation of the financial industry will help average Americans?