John McCain didn’t think taxpayers should be bailing out AIG yesterday:

LAUER: So if we get to the point middle of the week as we heard in that report where AIG might have to file for bankruptcy, they’re on their own.

MCCAIN: Well, quote on their own, we have to, we cannot have the taxpayers bail out AIG or anybody else.

Today it was…well, unavoidable:

MCCAIN STATEMENT: "Today, the government was forced to commit $85 billion to stop the collapse of AIG, another in a growing series of events that includes Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac. These actions stem from failed regulation, reckless management, and a casino culture on Wall Street that has crippled one of the most important companies in America. The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG. We must not bailout the management and speculators who created this mess. They had months of warnings following the Bear Stearns debacle, and they failed to act.”

Well, at least he saw it coming:

"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.”

A couple of years ago. Like…2007?

McCAIN: But, a guy that’s on my staff named Doug Holtz-Eakin, who was once the head of the Office of Management and Budget, said that there was nervousness out there. There’s nervousness. There was nervousness that we had such a long period of prosperity without a downturn because of the history of our economy. But I don’t know of hardly anybody, with the exception of a handful, that said ‘wait a minute, this thing is getting completely out of hand and is overheating.’

"So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not.”

If you listen to McCain talk for any length of time, it becomes apparent that he’s just very good at nodding his head and saying whatever he thinks you want to hear. He doesn’t even seem to be listening to himself.

I think those who are predicting he will do well in the debates may be engaging in "irrational exuberance."

John McCain didn’t think taxpayers should be bailing out AIG yesterday:

LAUER: So if we get to the point middle of the week as we heard in that report where AIG might have to file for bankruptcy, they’re on their own.

MCCAIN: Well, quote on their own, we have to, we cannot have the taxpayers bail out AIG or anybody else.

Today it was…well, unavoidable:

MCCAIN STATEMENT: "Today, the government was forced to commit $85 billion to stop the collapse of AIG, another in a growing series of events that includes Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac. These actions stem from failed regulation, reckless management, and a casino culture on Wall Street that has crippled one of the most important companies in America. The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG. We must not bailout the management and speculators who created this mess. They had months of warnings following the Bear Stearns debacle, and they failed to act.”

Well, at least he saw it coming

"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.”

A couple of years ago. Like…2007?

McCAIN: But, a guy that’s on my staff named Doug Holtz-Eakin, who was once the head of the Office of Management and Budget, said that there was nervousness out there. There’s nervousness. There was nervousness that we had such a long period of prosperity without a downturn because of the history of our economy. But I don’t know of hardly anybody, with the exception of a handful, that said ‘wait a minute, this thing is getting completely out of hand and is overheating.’

"So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not.”

If you listen to McCain talk for any length of time, it becomes apparent that he’s just very good at nodding his head and saying whatever he thinks you want to hear. He doesn’t even seem to be listening to himself.

I think those who are predicting he will do well in the debates may be engaging in "irrational exuberance."

Jane Hamsher

Jane Hamsher

Jane is the founder of Firedoglake.com. Her work has also appeared on the Huffington Post, Alternet and The American Prospect. She’s the author of the best selling book Killer Instinct and has produced such films Natural Born Killers and Permanent Midnight. She lives in Washington DC.
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