April 9th, 2008
07:00 PM ET
11 years ago

McCain calls out corporate greed

(CNN) - Under fire from Democrats for being out of touch with the country’s economic woes, John McCain visited a one hundred and forty billion dollar investment company and talked about Americans’ anger towards greedy CEOs.

“There's a backlash in America today against corporate greed,” McCain told Connecticut businessmen.

“They're angry when they see that the CEO of Bear Sterns decides to jump in the market and make a little extra money off the shares that he has accumulated over the years, instead of just taking the how-many-millions that he was going to get anyway,” he said.

The only policy proposal McCain suggested was a vague idea to make a corporation’s Chairman and CEO separate. McCain advisers promise more when he unveils his economic plan on tax day, next Tuesday.

Before the town hall, a McCain adviser previewed it as a “Sister Souljah moment” for the Republican candidate, a phrase that originated with Bill Clinton, now meant to suggest a politician is telling a natural constituency something they don’t want to hear.

But if comparing McCain’s comments to a moment in political history, it may be best to borrow a phrase from George H W Bush: “Message, I care.”

Since McCain delivered a tough love speech two weeks ago on the housing crisis, he has been chastised by both Democratic presidential candidates for calling for a limited government role in helping who he called irresponsible lenders and borrowers.

Though McCain insists he simply has a different philosophy from Democrats, who support millions in government dollars for a bailout, he has been making a concerted effort to blunt the Democrats charge that he is indifferent to the plight of hurting Americans.

Last week he told CNN he does see a role for government.

“What we really need to do fundamentally make sure that we take every action to have the lender and borrower sit down together so that millions of Americans who face terrible challenges will be able to afford to keep their home,” McCain said in an interview.

Now he is trying even harder to tap into and show solidarity with outraged voters.

“We need to make sure that the 100 million Americans who are stockholders in this country today are making sure that they get a return on their investment,” McCain told his Westport, Connecticut audience, “And that return should be before that of a CEO or other office holders, because after all, corporations in America were designed to benefit not only individuals, but to benefit every citizen of this country.”

Filed under: John McCain
soundoff (53 Responses)
  1. Scott

    Whatever happened to personal responsibility for one's actions? If YOU took out a house loan that you couldn't afford, it is YOUR fault. If the company that lent you the money KNEW or even THOUGHT that you were a risky investment, then it is THEIR fault as well.

    America, lose the sense of entitlement. NOTHING should be a hand-out unless you TRULY NEED IT TO SURVIVE.

    If you make a bad investment, there is noone to blame but yourself.

    I have next to nothing and you don't hear me whining.

    April 9, 2008 09:57 pm at 9:57 pm |


    April 9, 2008 10:01 pm at 10:01 pm |
  3. aliou salam, Jacksonville FL

    Obama O8!!!!
    Sounds very good McCain. Keep it up.
    Any more idiots in the republican party?
    Ehmm. Let's see.... May be when you start counting your statch of loot in billions, you start getting stupid!!!
    Ehmm.. no, it's when you join the club of profiteers ! or the gun and military industrial complex? ...

    I don't know!!! May be it's when you are on board of too many corporations that loot and outsource this country.....

    April 9, 2008 10:22 pm at 10:22 pm |
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