McCain Remarks on the Economy

On MSNBC this morning, John McCain said: “I think Americans have yet to fully understand this [bailout] is not in the interests of Wall Street or Washington insiders.” During his remarks today in Des Moines, McCain provided a couple examples of how the credit crunch affects ordinary voters: keeping businesses and students from getting loans. Policy wise, McCain said the Treasury should exercise its recently granted authority to purchase mortgages and use the Exchange Stabilization Fund as “creatively as possible to provide backstop for accounts across our financial system to maintain confidence on the part of savers and investors.” He also endorsed raising the FDIC deposit insurance cap to $250,000. Full remarks here: