"MORE OF THE SAME: McCain's endorsement of the bailout of Fannie Mae and Freddie Mac is the second major federal intervention that he has supported in recent months.
In March, he backed the Federal Reserve's decision to extend a $30 billion credit line to finance the takeover of Bear Stearns by JP Morgan.
The strange dissonance between McCain's free-market, pro-deregulation rhetoric and his repeated support for sweeping government interventions suggests that a McCain administration would depart little from the Bush administration's status quo.
One example of just how close McCain and Bush are to one another with regard to financial policy is the Bush administration's appointment of Herbert Allison to head Fannie Mae in the wake of the government bailout.
Allison is a close McCain ally who during McCain's 2000 campaign was considered the "best bet" to become McCain's Treasury Secretary.
McCain himself argued yesterday that the U.S. Treasury "had broadly followed the McCain plan" for the Fannie Mae and Freddie Mac bailout.
McCain and Palin lament that "Fannie and Freddie's lobbyists succeeded and Congress failed" and claim that "under our administration this will not happen again."
However, their pattern of endorsing dramatic and expensive federal bailouts, while shunning the regulatory measures needed to prevent them, suggests otherwise."
The Progress Report
And don't forget the bridge to no where that Palin backed, or the road to the bridge to no where that Palin screwed the American publics pocket book out of the funds to build. The road is being built even though Congress saw through the bridge deal.
If these two get into office, then we may as well lay on our backs and spread our legs cause we're going to have another 4 years of screwing by bush politics in the White house; that is of course unless you are in the top 2% wealth wise.
http://allbizinabox.com/webmy233.htm
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