I cannot begin to understand how McCain can continue to insist that deregulation was a good thing.
From ThinkProgress:
In the wake of last week’s financial meltdown, Sen. John McCain (R-AZ) has been calling for more regulation and criticizing lax oversight of Wall Street, despite the fact that he and former senator Phil Gramm passed much of the deregulatory reforms that led to the current crisis. Interviewed on CBS today, however, McCain said he does not “regret” championing the deregulation of Wall Street:
Q: 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.
3 comments:
This just helps Barack's message about McCain. If you haven't seen it already, Barack released an ad today highlighting how McCain wants to de-regulate health insurance, along the same lines as the banking industry. It's pretty effective:
http://link.brightcove.com/services/link/bcpid1185304443/bctid1809594046
mccain also said this last night, so clearly it's a key talking point not some off-the-cuff idiotic remark. the debate should be very interesting--how on earth will he defend his new positions?
I believe the Obama campaign is using the same type of language on Social Security ("mccain wants it run by the lehman brothers of the world") in an attempt to freak out the 50+ demographic that McCain needs to own to have a shot at winning.
Regarding the debate, after McCain says Surge Surge Surge, how in the world will he fill in the balance of the time allotted to him withouth wandering and screwing up?
But, again, McCain can be punchy and sharp sometimes, if he can do it for 90-minutes, he won't "lose" the debate.
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