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"We Will Never Put America In This Position Again"

By The Reverend Published: September 16, 2008

According to McCain campaign manager Rick Davis...."this election is not about issues." Instead, as we have found out, Davis and the GOP want this election to be about personalities. That fully explains the Palin VP pick.

There's good reason for the GOP to attempt to steer the election into personalities waters. Talking about issues....issues like the American economic meltdown....are kind of....oh, I don't know....embarassing....for McCain.

Here's why....

Money and creativity have been redirected during the Reagan-Bush era away from substantive loans to real businesses into a Ponzi scheme of borrowing by investment bankers, so they could engage in the most irresponsible, if lucrative (for them) speculative lending imaginable.

John McCain, after his political near-death experience (his involvement in the Keating 5), could have made the responsible regulation of markets one of his great causes. He didn't. Link

Does McCain have any record to demonstrate he would, or could, fix economic markets....does he have any record of reining in Big Money?

....he has consistently characterized himself as fundamentally a deregulator and he has no history prior to the presidential campaign of advocating steps to tighten standards on investment firms.

No history of tightening standards is one thing....but has McCain really favored deregulation?

In early 1995, after Republicans had taken control of Congress, Mr. McCain promoted a moratorium on federal regulations of all kinds. He was quoted as saying that excessive regulations were “destroying the American family, the American dream” and voters “want these regulations stopped.” The moratorium measure was unsuccessful.

“I’m always for less regulation,” he told The Wall Street Journal last March, “but I am aware of the view that there is a need for government oversight” in situations like the subprime lending crisis, the problem that has cascaded through Wall Street this year. He concluded, “but I am fundamentally a deregulator.”

McCain said, and said it very clearly, that he is "always for less regulation". But let's review that slick statement...."but I'm aware of the view that there is a need for government oversight." McCain says he's aware of the view by others, not him, that there's a need for oversight. McCain doesn't share that view at all....but he's "aware" of that view.

McCain surrogates boggle the mind when they try to speak about the economy and regulation....boggling like this....

Mr. Pawlenty suggested in an interview on Fox News that, given the danger that “any future administration” would go too far, Mr. McCain would be the safer bet to protect against “excessive government intervention or excessive government regulation." Link

The audacity. The balls. Both the collapse of credit markets and the oil bubble we've been experiencing have been made possible by no transparency, little to no regulation, and litttle government intervention, (except to socialize the money lost). And Pawlenty has the balls to say an Obama administration "would go too far" with "excessive government regulation."

Finally, the best part. Look at what McCain said on Monday in response to the disintegration of historic investment banks....

"We will never put America in this position again. We will clean up Wall Street. This is a failure."

I'm going to take McCain's words at face value, a risk I know. Didn't he say that "we", meaning he and his colleagues, "put America in this position" of collapse? Isn't that what he said? If words have any meaning, didn't McCain say that the federal government, which includes himself, is responsible for the "position" we find ourselves in....and that McCain, as president, will see to it that it never happens "again?"

John McCain, never in 26 years having "cleaned up" anything on Wall Street because he's always been for "less regulation", believing an ideology which considers regulation as destructive to "the American family, the American dream", admitting that he and his (mainly) GOP colleagues "put America in this position", incredulously, expects us to accept his words now that he won't let it happen "again", he will "clean up Wall Street."

F*cking amazing.



Link to McCain's buddy...Phil Graham



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