What is Digg?3 Comments
- inactive, on 10/07/2008, -0/+4a) McCain's judgement in dealing with de-regulation was right on. Deregulation is always good for people, all the time, anywhere and everywhere. What we are seeing here is not caused by deregulation, but by the assumption that feds would bailout Fannie Mae and Freddie Mac no matter what. This allowed the other banks to sell their securities knowing that they would have a guaranteed buyer. Deregulation would have made Fannie Mae and Freddie Mac private companies, not government-supported companies.
b) McCain's current role in the financial crisis was to warn about the lack of oversight in Fannie Mae and Freddie Mac, which were quasi-governmental entities, and thus responsible to Congress. He's warned about it before. Clinton warned about it. Bush warned about it 13 times.
c) Selecting Phil Gramm has nothing to do with it. That is a non-sequitur.
If I were you, I'd be downright embarrassed at getting spanked so hard. - suzycarpenter, on 10/06/2008, -2/+5Hmm, that could backfire.
- PacificChef, on 10/06/2008, -8/+2The Keating 5 release is not to indict John McCain for his work back in the past, but to highlight a) his judgement with regard to deregulation, b) his current role in the current financial crisis and c) his judgement on character, which has led to the selection of Phil Gramm as an economic advisor while touting himself a reform maverick.
So Glenn does conference calls for Obama, he certainly isn't writing his economic policy. If the Republican try to put this as a "classic smear campaign" even they have missed the point. The point is the enonomic situation, set in play in large part by Phil Gramm demonstrates McCain's allegience to failing economics. Period.
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