McCain on Mortgage Bailouts

Sen. John McCain (R-Ariz.) has gone from knowing nothing about the economy to becoming a free-enterprise guy to sounding like an interventionist. Reports the LA Times:

McCain, in a campaign stop at a windows business in Brooklyn, said, "There is nothing more important than keeping alive the American dream to own your home, and priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes."

Well, you know what's coming next: McCain has announced a mostly detail-free plan to unburden deserving folks (of course!) of "a burdensome mortgage for a manageable loan that reflects the market value of their home." His plan, details to come sometime next week, will cost less than Hillary Clinton's or Barack Obama's, won't be a bailout for speculators or banks, blah blah blah.

That sort of turn is totally predictable. What's truly strange in the Times piece is this bit from New York City Mayor Mike Bloomberg, who was campaigning for McCain:

Bloomberg...recalled a visit several years ago to McCain's retreat outside Sedona, Ariz. He joked that the home and surrounding property were "relatively small" to be called a ranch and recalled that McCain's trademark ribs, which he grills himself, "were slightly on the well-done side." But Bloomberg said he "loved them anyways."

Question: How would McCain know if Boomer was campaigning against him?

Whole LAT piece here.

Reason Foundation's Mike Flynn on mortgage and big-bank bailouts here.

reason Editor in Chief Matt Welch wrote the book on McCain. Buy Myth of a Maverick now!

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  • Elemenope||

    He joked that the home and surrounding property were "relatively small" to be called a ranch

    The last person on Earth to be slinging small jokes around...

  • BakedPenguin||

    How would McCain know if Boomer was campaigning against him?



    And why would he care?

  • ||

    During the 2002 election cycle, the Democrats adopted a strategy of agreeing with Bush about the War on Terror, maybe issuing mild criticisms and ideas about how to handle it better, to try to take the issue off the table and change the subject to domestic issues, which were their strong suit.

    It sounds like McCain is doing the same thing in reverse - try to take disagreements about domestic politics off the table so the subject can turn to foreign policy and the war.

  • MK2||

    Reason Foundation's Mike Flynn on mortgage and big-bank bailouts here.

    Yes, Children, read what Father Flynn has to say, wrap rosaries around your hands when you go to sleeep so you're not tempted to touch yourselves. This is going to be a challenging time for our faith.

    Hail Market,
    Full of grace,
    Prosperity is with thee.
    Blessed art thou among systems,
    and blessed is the fruit
    of thy womb, Capital.
    Holy Market,
    Mother of Goods,
    pray for us consumers now,
    and at the hour of our bankruptcy.
    Amen.

  • Episiarch||

    I'd like to hear from those who state they are probably going to vote for McCain because he's "better on taxes and the economy".

    He's as big a piece of shit as he seems. Bigger, actually.

  • Elemenope||

    I'd like to hear from those who state they are probably going to vote for McCain because he's "better on taxes and the economy".

    He's as big a piece of shit as he seems. Bigger, actually.


    Salon has a great hit-piece up on McCain and how much of a waffling pandering douche he is on sexual and reproductive issues. Just based on the stupid stuff he said in *that* article, I wouldn't consider voting for him.

  • ||

    "There is nothing more important than keeping alive the American dream to own your home, and priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes."

    That's right buddy, I knew you could do it! Just let it out and be yourself!

  • BakedPenguin||

    Hey MK2, here's some reading for you.

    You might notice that this was a trollish insult which made fun of your politics without adding anything to the discussion at hand - just like every single fucking comment I've ever seen you make.

    Feel free to respond, as just before writing this, I put your name into my filter so I won't ever have to see your pointless comments again.

  • tarran||

    True story:

    On occasion, my dog will steal an old book and shred it.

    before last week, we thought we had cured him of this; he had gone a year without shredding any books.

    Then last Thursday, I heard my wife bellowing at the dog. There were yellowed scraps of paper all over the floor. The title was still legible on the cover of the book. When my wife and I saw it we burst out laughing; it was my dad's old copy of the Communist Manifesto.

    My attempts to discipline the dog were undermined by my giggles and jokes.

  • MK2||

    BakedPenguin is headed for the priesthood!

  • ||

    We have filters here?

  • ||

    tarran, do you know why Hernando de Soto named his German Shepherds "Marx" and "Engels?"

  • ||

    tarran, do you know why Hernando de Soto named his German Shepherds "Marx" and "Engels?"

    To make him feel better about putting them down?

  • adrian||

    show me the money!

    in other news McCain tied with Obama in some poll... Dems might still screw this one up

  • ||

    Episiarch: Anybody who thinks McCain is "good on taxes and the economy" are probably the four people McCain graduated ahead of at the Naval Academy (McCain was fifth from the bottom, something he himself references on the campaign trail!). As far as anybody can tell, his main areas of support come from people who like his stances on counter-terrorism and the military, and then has people who support him because they don't like the alternatives.

    The more he opens his mouth, though, the more I don't like what comes out of it.

  • T||

    I'm so glad everybody seems determined to keep mortgage lenders and dumbass home buyer insulated from the consequences of their poor decisions. Too bad I went through my share of bad ideas when I was younger and there was less incentive for idiot panderers to help bail me (and those like me ) out.

  • ||

    No, but there are filters available for Firefox using greasemonkey.

    On topic, how is someone who bought more house than they could afford in any way "well-meaning, or deserving"?

  • ||

    To make him feel better about putting them down?

    Because they're hairy, German, and have no respect for private property.

  • robc||

    McCain was fifth from the bottom

    Four positions better than George Pickett.

  • BakedPenguin||

    Warty - Eric the .5 b created a Greasemonkey filter that allows you to shrink comments of idiots. I can see that MK2 made another comment above, but it only appears as one line. Very useful for when you don't feel like reading Dondero cackling over some Republican getting 52%, Lonewacko talking about the NAU, Gabe Harris telling you how 9/11 was an inside job, etc.

    Check your gmail account for the link.

  • ||

    Warty:

    The Indisputably Non-Coercive Idiot Filter for Hit & Run (INCIF) is a bit of Greasemonkey code Eric the .5b wrote for Firefox. I've just sent the location of the code to your email (on the perhaps dubious assumption that it's a real address; if not, shoot me an email and I'll get it to you).

  • ||

    *shakes fists at sky*

    PENGUIIIIIIIIIIIIIIINNNNNN!!!

  • ||

    Awesome, thanks. And this is a real email address, I'll have you know.

  • Episiarch||

    Jake Boone is Batman. Or Adam West. Who knew?

  • BakedPenguin||

    Too slow, Jake. Too slow...

  • robc||

    For anyone else wondering, googling for The Indisputably Non-Coercive Idiot Filter for Hit & Run gets you to it too.

  • NeonCat||

    Well, if McCain overcooks ribs, how can he be trusted with the barbecue that is America?

    I mean, I already decided I wouldn't vote for him, but this really seals the deal.

    Dammit, now I want ribs.

  • MK2||

    Market Fundamentalists should learn from the RCs: create an index of forbidden books.

  • ||

    how is someone who bought more house than they could afford in any way "well-meaning, or deserving"?

    Because they might vote for McCain if he insulates them from their bad choices.

  • ||

    comment by MK2

    What? I can't hear you. WHAAT?

    Good work on this filter, Eric the .5b. To reward you, I got you a membership in the jelly of the month club.

  • ||

    Sen. John McCain (R-Ariz.) has gone from knowing nothing about the economy to becoming a free-enterprise guy to sounding like an interventionist.

    Well, actually, he's gone from knowing nothing about the economy to knowing nothing about the economy.

  • ||

    Thanks, robc! I was just about to ask for some filter love in my inbox. Now I am free to help myself :)





    huh. The part of my brain which resides permanently in the gutter just had a little chuckle.

  • Peder||

    Episarch,
    I fit the bill for your request and all I can say is that I think he'll be stand up to an almost certain Dem congress more than Clinton or Obama will. Small thing, I know.

  • Episiarch||

    If you're going to vote at least throw it away on Barr or write in Paul. At least you're sending a message.

  • The Whine Commonsewer||

    No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes a chicken in every pot.

  • ||

    Peder, I don't think it would play out that way. During the Delay/Frist years, there was an understanding between the White House and Congress - they would give him everything he wanted on the war, and he would give them everything they wanted on domestic policy. And it worked - not a veto in sight from Bush, not even a nick on any of his war-related bills.

    Given McCain's, um, less-than-total adherence to Republican orthodoxy on economic and other domestic matters, I an easily foresee him trying to work a similar deal with a Democratic Congress.

    Which, I'm sure, generates all sorts of warm fuzzy feelings among libertarians.

  • The Whine Commonsewer||

    I wouldn't consider voting for McCain because he's better on much of anything. Course Barry ain't getting my vote neither.

    I'm on board for whatever crazed libertarian is on my ballot and I'll vote against every sitting judge and every tax increase.

    In that way, you might say I'm like SIV, a single issue voter.

    JUST SAY NO!

  • Bronwyn||

    Oh, this filter rocks! Thanks, Eric the .5b!

  • LarryA||

    I'd like to hear from those who state they are probably going to vote for McCain because he's "better on taxes and the economy".

    I am. He's horrible on taxes and the economy. In fact, among the three viable candidates, he's third from the bottom. It's been a long election.

    Given McCain's, um, less-than-total adherence to Republican orthodoxy on economic and other domestic matters, I an easily foresee him trying to work a similar deal with a Democratic Congress.

    I agree. (With joe? It's been a very long election.) And unfortunately I think McCain will succeed. But I also think Obama will be much better at striking such a deal.

  • Kolohe||

    How would McCain know if Boomer was campaigning against him?

    I would definitely chose Boomer over him.

    (first link is maxim-like, so use that for your sfw judgment)

  • The Whine Commonsewer||

    The part of my brain which resides permanently in the gutter just had a little chuckle.

    Mine too, but I thought you were a better person than I. :-) Classier, anyways.

  • The Whine Commonsewer||

    Hmm, looks like I can't use Greasemonkey on FF 3 Beta 5. Bummer.

  • Peder||

    Epi,
    I don't believe that protest votes carry nearly the value that their casters think they do. For instance, I don't see that the 2000 Nader vote improved the Dem party at all. Ditto for the Perot votes.
    Joe, I think you're right about the history but that doesn't mean it will carry forward. I sure hope it doesn't. Guess I'm willing to vote that hope more than I am in trusting Obama/Clinton to simply live up to what they're promising right now.

  • Sean Healy||

    What kind of Bloomberg eats ribs, for G-d's sake?

  • ||

    "There is nothing more important than keeping alive the American dream to own your home, and priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes."

    "There is nothing more important than keeping alive the American dream to own your home be protected from your own foolishness, and priority No. 1 is to keep well-meaning irresponsible, deserving self injured homeowners debt defaulters and large financial institutions who are facing foreclosure their just desserts in their homes for their imprudence."*

    *Translated from the original Panderese.

  • The Whine Commonsewer||

    Peder, re: protest votes. I don't think of it as a protest vote. It is actually a vote for the person who most closely mirrors my own values and philosophy. I would never consider voting for a ten percenter when I can vote for an eighty percenter.

    Put another way, why vote for someone who promises to poke out your eye with a sharp stick to keep the other guy who has promised to beat you with a tire iron out of office?

    The kind of injury is less important than the fact that you WILL be injured regardless of which of the BIG THREE is elected.

  • The Whine Commonsewer||

    What kind of Bloomberg eats ribs, for G-d's sake?

    I have to dismiss Bllomberg's rib critique out of hand. Come on, the man is from New York. If he was passing judgment on Eggs Benedict or pizza okay, but ribs are a Western tradition.

    Here you have an Arizonan, on a ranch outside Sedona, doing ribs. Unlike McCain politics, it stands to reason that McCain ribs are likely to be pretty tasty.

  • Taktix®||

    Here you have an Arizonan, on a ranch outside Sedona, doing ribs. Unlike McCain politics, it stands to reason that McCain ribs are likely to be pretty tasty.

    Of course, he seasons them with the blood of brown people and uses old divorce papers to light the coals.

  • ||

    You can tell who the stupid, irresponsible people are, because they're not rich.

    When you have to literally define a concept - predatory lending - out of existence in order to refute the charge that it's happening, it's time to throw in the towel.

  • ||

    You can tell who the stupid, irresponsible people are, because they're not rich.

    I thought you could tell them because have possessions way over and above what they actually earn. I have friends and family members who fit that description pretty well.

  • ||

    Good work on this filter, Eric the .5b. To reward you, I got you a membership in the jelly of the month club.


    Oh, this filter rocks! Thanks, Eric the .5b!



    Thank you, Warty and Bronwyn!

    Mmm, jelly.

  • ||

    You can tell who the stupid, irresponsible people are, because they're not rich.

    Not for long anyway.

    God i love this country....why is joe trying to ruin it again?

  • ||

    You can tell who the stupid, irresponsible people are, because they're not rich.

    Or because, regardless of their starting point, their net worth follows a constant downward trend.

    On the other hand, the smart, responsible people tend to have a net worth that moves in upward direction... except for those in pursuit of a doctoral degree.

  • ||

    reason Editor in Chief Matt Welch wrote the book on McCain. Buy Myth of a Maverick now!

    How many books has he sold over time?

    Can we see graphs?

    This really has nothing to do with free minds and free markets and Matt is due privacy into his financial affairs as anyone...only that i would find it interesting in seeing how political effects have corresponded with sales of this book.

  • Nutter||

    How many books has he sold over time?
    Can we see graphs?



    Sign up for accounts on

    http://www.titlez.com/
    http://www.rankforest.com/

    It will give you some of that.

  • lunchstealer||

    Jake Boone is Batman. Or Adam West. Who knew?

    Don't be silly. Jake isn't Batman. That's just ridiculous. He's the Atomic Fruitbat, duh!

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