It was a bit disturbing to hear John McCain blaming the greed of Wall Street and the lack of federal oversight for the our financial meltdown. But McCain's performance yesterday on the Today show was truly a travesty. He attempts to voice the free-marketeer line that AIG shouldn't be bailed out but winds up sounding like Miss Teen USA South Carolina talking about Iraq.
Our friend Rachel Sklar at the Huffington Post provides the transcript.
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...this is something we're gonna have to work through -- there's too much corruption, there's too much access, we can fix it, I believe in America - we can have a 9/11 commission such as we had after 9/11, 'cause this is a huge crisis and we can come up with fixes and we can make sure that every American has a safer future and that is to make them know that their bank deposits are safe and insured.
It's hard to escape the feeling that free market ideas don't stand a chance with this guy as the Republican leader.
Does McCain Understand The AIG Crisis? [Huffington Post]