McCain 2010 claims he was misled on bailout…but McCain 2008 disagrees

Posted Feb 28, 2010, 8:36 PM PT by Jed Lewison

John McCain 2/28/2010:

MR. GREGORY:  One question about the bailout, the TARP.

SEN. McCAIN:  Oh, yeah.

MR. GREGORY:  You voted for it, but you’ve said that you were misled by former Treasury Secretary Paulson.  How so?

SEN. McCAIN:  We were all misled.  We were all misled.  I mean, he said that they were going after the toxic assets.  The toxic asset—his word—was the housing market.  He testified to that.  I mean, we were all misled.  So what did he do then?  They started pumping money into the financial institutions. … They turned around and switched from trying to address the housing market to bailing out the financial institutions on Wall Street.

John McCain 10/7/2008:

SEN. McCAIN: This rescue package means that we will stabilize markets, we will shore up these institutions. But it’s not enough. That’s why we’re going to have to go out into the housing market and we’re going to have to buy up these bad loans and we’re going to have to stabilize home values