Today, John McCain came out in favor of the $700 billion bailout for US and foreign financial companies:
"We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees."
It was just a few, short weeks ago, however, that Senator McCain gleefully accepted the GOP nomination for President of the United States and voiced his support for the 2008 Republican platform. It seems that he forgot this part:
"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all. We encourage potential buyers to work in concert with the lending community to educate themselves about the responsibilities of purchasing a home, condo, or land."
So what's it gonna be, Johnny?...Yes...Yes..Yes...Let me sleep on it and i'll give you my answer in the morning...
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