this past week, mccain has tried to play catchup with his economic policy. he declared:
Part of the reason we are facing this crisis is an antiquated regulatory system of uncoordinated agencies that haven’t been doing the job. I believe we need a high level oversight board to impose accountability and establish concrete criteria for who gets help and who does not.
he even went so far as to announce that he would’ve fired the SEC chair for the financial mess (nevermind the fact that the president has no authority to do so, let’s all play along here).
aaaaand he’s even got a spanking new ad out that declares “enough is enough” it’s time to “reform wall st!”
too bad mccain’s maverick foresight didn’t happen years ago.
as the washington post explains:
A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace that proponents said would result in greater economic growth.
here’s the best line:
“I’m always for less regulation,” he told the Wall Street Journal in March. He added: “I’d like to see a lot of the unnecessary government regulations eliminated.”
in fact, on september 20th, 2008, as wall st. lost trillions of dollars and was begging for a massive bailout, john mccain declared in an interview:
I think the deregulation was probably helpful to the growth of our economy.
so why start regulating now, johnny?
and just remember folks, he also doesn’t believe in regulating the healthcare system….