Thursday, September 18, 2008

NOW HE'S FOR REGULATION. ARE YOU KIDDING ME !!!

ABC News: McCain's Newfound Regulatory Zeal A "Conversion of Convenience." WRIGHT: Senator McCain appears to have changed his tune on regulation in a fundamental way. Today on the stump, he's a champion of reigning in Wall Street with tough regulations. MCCAIN: We're going to put an end to the reckless conduct, corruption and greed that have caused a crisis on Wall Street. WRIGHT: But for more than 25 years in the Senate, McCain has fashioned himself as a champion of smaller government, less regulation. MCCAIN: I am less government, less regulation, lower taxes, et cetera. WRIGHT: In the mid 1990s, he supported a measure to ban all new government regulations. McCain supported legislation a decade ago that broke down the firewalls between commercial and investment banks and insurance companies -- the very rules companies like AIG exploited to get in the current mess. And as recently as March of this year, after the collapse of Bear Stearns, McCain was all for deregulating Wall Street…. GEORGE WILL: When the deregulation was the wave through Washington, he surfed that wave. Now it's not, and the populist inside John McCain is out. WRIGHT: Today, the Wall Street Journal accused McCain of selling out his free market ideals. Said today's top editorial -- 'denouncing greed and Wall Street, isn't a growth agenda.' WILL: It's a conversion of convenience, some will say." [ABC News, 9/17/08: http://www.youtube.com/watch?v=wWI35eNnDOw]

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