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Classic McCain September 19, 2008

Posted by trouble97018 in Economy, McCain, News, Politics.

Talking Points Memo

09.19.08 — 12:03PM

By David Kurtz

John McCain will tell you that if you’re against government bailouts of the private sector, he’s your man. But check out McCain’s track record on the three major bailouts engineered by the Fed this year alone:

John McCain, on the Bear Stearns bailout (March 2008):

“Asked whether the Fed went too far in helping Bear Stearns, McCain said: “It’s a close call, but I don’t think so.” He said he doesn’t support federal bailouts unless it has catastrophic effects on the entire financial marketplace and there were indications that a Bear Stearns failure would have rippled across the entire economy.”

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