Pretty cut and dry, right? Well, the Federal Reserve Bank did in fact bail out AIG to the tune of $85 billion, a two-year loan that is secured by an 80% controlling interest in the company. So did McCain stick to his cut and dry statement and continue opposing the bailout? Uh, no. He reversed himself and now supports the bailout. Maybe he didn't quite understand what an AIG collapse would mean and reversed himself once his economic advisors tutored him. Maybe he fully understood it and is being purely political. What is plain to see is that his most public reversals of opinion are certainly designed to be as politically expedient as possible.MCCAIN: No, I do not believe that the American taxpayer should be on the hook for AIG and I’m glad that the Secretary Paulson is apparently taking the same line.
LAUER: If we get to the point middle of the week as we heard in that report where AIG might have to file for bankruptcy, they’re on their own?
MCCAIN: Well, quote “on their own,” we cannot have the taxpayers bail out AIG or anybody else.
If this guy is elected president, I swear the country is going to Hell.
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