John McCain Admits He Was Not Clairvoyant About The Subprimes

John McCain Admits He Was Not Clairvoyant About The Subprimes

Hmm,here is an interesting video clip sent to us by a Wonkette New Hampshire Primary Operative. It shows John McCain last November talking with some nice New Hampshire newspaper editors about economic things and good christ, maybe everything he said was rubbish, but this was possibly the first time we saw him looking not grumpy or confused or ghoulish in... ever. The six-minute segment is sort of interminable for those of you watching at work so here is a sad/lovely quote:

Q: Or, I mean you're a busy guy, you're looking at a lot of things, maybe subprime mortgages wasn't something you focused on every day. Were you surprised?

McCain: Yeah... In this whole new derivative stuff, and SIBs and all of this kind of new ways of packaging mortgages together and all that is something that frankly I don't know a lot about. But I do rely on a lot of smart people that I have that are both in my employ and acquaintances of mine. And most of them did not anticipate this....I'd like to tell you that I did anticipate it, but I have to give you straight talk, I did not.

And of course this is funny because McCain now says he saw this thing coming from a mile away. Everybody is a liar about everything always, so it is good that soon we will not have a capitalist democracy anymore.

John McCain on Subprime Mortgages []


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