Our politicians suck.
Here's how HP reported McCain's no-going-back "F*ck you housing gamblers" speech from March 31:
John McCain draws a crystal clear line in the sand - NO GOVERNMENT BAILOUTS FOR FAILED BANKS & MORTGAGE GAMBLERS. Well, maybe not that clear of a line
"It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers"
- John McCain, before he eventually modifies his position after seeing the media coverage, polling data and drop in contributions
And then sadly, predictably and right on schedule, here's the gutless poll-reading uber-politician McCain today, urging a massive taxpayer-funded bailout for housing gamblers and failed flippers.
Straight talk my ass. John McCain is just another snakey, smarmy, two-faced, spineless and REIC-corrupted politician, undeserving of your support. Too bad the GOP didn't nominate a real man. Too bad Americans hate honest politicians like Ron Paul.
McCain Shifts on Aid to Some Mortgage Holders
Senator John McCain, who drew criticism last month after he warned against broad government intervention to solve the deepening mortgage crisis, pivoted Thursday and called for the federal government to aid some homeowners in danger of losing their homes, by helping them to refinance and get federally guaranteed 30-year mortgages.
“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,” Mr. McCain said in a speech on economic themes
Mr. McCain, an Arizona Republican, had been painted as uncaring by Democrats, and drew murmurs of concern from some Republicans, after a speech in California last month in which he cautioned that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers,” and noted that the crisis had been brought on by both lenders and borrowers.
Since then, he has gone out of his way to try to signal that he understands that times are tough and that people are hurting.
The mortgage plan that Mr. McCain unveiled — which his advisers said was designed for needy homeowners, and not financial institutions — would apply to people who were falling behind on payments on their primary residences who could show that they would be able to meet the terms of a new, 30-year fixed-rate mortgage. Mr. McCain also called for the Department of Justice to investigate the industry.
In his remarks, Mr. McCain did not mention how much his plan would cost, but his aides said it would help 200,000 to 400,000 homeowners.