McCain has been hollering about foreseeing the economic crisis for the last two years, telling CBS news yesterday morning, "Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems."
This is true.
But this is also true: He claimed in November, 2007,to have not foreseen the sub-prime mortgage crisis in an interview.
Q: Well the dimension of this problem may be surprising to a lot of people, but to many people, to many others there were feelings that there was something amiss, something was going too fast, something was a little too hot. … Were you surprised?
McCAIN: Yeah. And I was surprised at the dot-com collapse and I was surprised at other times in our history. […]
I don’t know of hardly anybody, with the exception of a handful, that said “wait a minute, this thing is getting completely out of hand and is overheating.” So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not.
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