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Republican presidential nominee John McCain appeared on CNBC's "Squawk Box" to discuss the current state of the financial market and regulation. During his appearance he spoke about how more regulation was needed on Wall Street.
"Fannie and Freddie is the classic example of the old-boy network
inside the Beltway relationship between Fannie and Freddie and the
Congress and the executive branch, and you can trace the problems back
to that," McCain said.
He also said that taxpayers should not be responsible for any failures including American International Group Inc. "I think you have to let it fail. I know there are great efforts to raise capital to keep AIG in business, but we cannot make taxpayers responsible," McCain said. - Maria Woehr See "Squawk Box" interview See The Deal.com's Crisis on Wall Street coverage CategoriesComments
From: Kevin,
Oh god... He wants to be president after he throws us into a depression?
Posted on:
September 16, 2008 5:15 PM
From: Kevin,
Oh god... He wants to be president after he throws us into a depression?
Posted on:
September 16, 2008 5:15 PM
From: Raj,
Oh GOD!! John McCain doesn't uses his head. He doesn't know what is going to be the impact if AIG fails. AIG operates in more than 100 countries and has 116,000 workers, more than four times as many as Lehman. Many small companies/firms are dependent on AIG AIG failure will impact the whole world.
Posted on:
September 16, 2008 8:01 PM
From: Stev H,
I am surprised by the lack of knowledge/understanding in our economy and budget.
Posted on:
March 2, 2009 4:21 PM
From: Glen Fishman,
Glen in Denver Writes...
Posted on:
March 5, 2009 2:59 PM
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Let AIG fail? Obviously McCain has little experience in the trenches!