Explaining the McCain Bailout Plan
Posted by Ilan Goldenberg
Brad Delong has an excellent breakdown of the new McCain bailout plan. As Brad explains the nominee of the party of fiscal conservatism "wants to give $100 billion of taxpayers' money to America's worst-behaving mortgage financiers." Sure is mavericky.
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John McCain's reputation for the last 26 years in Washington was for smaller government.De-regulation. Now that the economy is collapsing he's calling for regulation on Wall Street. Why wasn't he saying that 10, 20 even 5 years ago before things got this bad.Now he's for government intervention. What was he doing for 26 years.
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