Sunday, Sept. 21 on 60 Minutes
Pelley: In 1999 you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?
McCain: No, I think the deregulation was probably helpful to the growth of our economy.
McCain has been an advocate of deregulation most of his career, but Thursday he endorsed the biggest bailout in history – a plan for the government to take on the bad debts of financial institutions.
“We’re gonna take over these bad loans. We’re gonna take over these bad – these bonds and we’re gonna keep you alive. And we’re gonna have the taxpayer help you out. But when the time comes and the economy recovers then anything that’s gained back is gonna go to the taxpayers first. I’m not saying this isn’t gonna be messy. And I’m not saying it isn’t gonna be expensive. But we have to stop the bleeding,” the senator said.
On Tuesday, Sept. 23
McCain tells reporter that he hasn’t read the bailout plan (WKYC)
In an exclusive interview he told Tom Beres,”I have not had a chance to see it in writing. I have to examine it.”
On Wednesday, Sept. 24
The Washington Post-ABC poll has Obama leading McCain, 52 percent to 43. The big reason for the 11-point shift from two weeks ago.
McCain suspends his campaign.
On Thursday, Sept. 25
Reuters reports Democrats say that they have an agreement with Republicans – Democrats claim Wall St. bailout breakthrough.
Will McCain try to derail the agreement so that he can justify his suspension of his campaign?