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McCain: Time to Fire the SEC Chairman

By Robert Barnes
CEDAR RAPIDS, Iowa -- Republican presidential nominee John McCain said today that he would fire the chairman of the Securities and Exchange Commission because of the meltdown on Wall Street and proposed a new commission to identify faltering financial institutions.

He also lambasted Democratic rival Barack Obama for taking "marching orders'' from congressional Democratic leaders and said the Illinois senator "did not life a finger to avert this crisis.''

McCain's tough talk was the latest iteration of what has been a constantly evolving position on the financial crisis on Main Street that has dominated the news -- and the campaign -- since Monday. McCain said he would offer more details on "what I will do as president to fix this crisis and get our economy moving again.''

At an airport hanger rally here where McCain and running mate Sarah Palin were twice interrupted by antiwar protesters, McCain criticized congressional Democrats and, by extension, Obama, for not moving quickly enough to deal with the financial crisis.

Until today, McCain's economic advisers had been on similar ground. McCain's first response to the crisis was to call for a commission to study what has gone wrong on Wall Street. The group would come up with recommendations that he would present, as president, as legislation to Congress.

But now McCain's political advisers believe a more immediate response is needed.

Without mentioning him by name, McCain said SEC chairman Christopher Cox, a former congressmen, should be the first to go.

"The Chairman of the SEC serves at the appointment of the President and has, in my view, betrayed the public's trust," McCain said. "If I were president today, I would fire him."

McCain also called for a new government response, similar to the Resolution Trust Corporation what was set up to deal with the failed savings and loan industry.

He said the Mortgage and Financial Institutions Trust would "work with the private sector and regulators to identify institutions that are weak and take remedies to strengthen them before they become insolvent.''

"For troubled institutions this will provide an orderly process through which to identify bad loans and eventually sell them,'' McCain said.

The Arizona senator attempted to tie Obama to the mortgage loan giants Fannie Mae and Freddie Mac, saying while he had warned of trouble two years ago, Obama has filled his campaign treasury with contributions from executives of the agencies.

"When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent," McCain said. "He didn't lift a finger avert this crisis. While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments."

McCain's remarks fit in with a bigger push by his campaign to distance himself from President Bush, try to tie Obama to an unpopular Congress and challenge Obama's claim to being the change candidate.

"Senator Obama has never made the kind tough reform we need today," McCain said. "His idea of reform is what his party leaders in Congress order him to do."

By Web Politics Editor  |  September 18, 2008; 1:45 PM ET
Categories:  B_Blog , Battlegrounds , John McCain  
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Comments

Some Dems have called for similar firings of people they can't touch. The fact is, Cox should be removed. The reason: He wiped out the uptick rule last year WITHOUT fixing naked shorting. Naked shorting is the same thing as counterfeiting stock certificates. If you allow people to create stocks out of thin air and then sell them with no uptick rule to stop the skid, you are a fool who should be unemployed, especially in a time when one party spends millions trying to run down perceptions of the economy.

Posted by: Tom | September 21, 2008 12:04 PM | Report abuse

MCSane the president can.t fire the SEC! Maybe he didn't know that like he didn't know Spain is in Europe! How embarrassing.

Posted by: branmuffins88 | September 19, 2008 12:35 PM | Report abuse

McSane cane only appoint the head of the SEC. The President has no authority to fire. Maybe he thought the voters are un informed and don't know or mybe he is the one who is uninformed.

Posted by: judy wallace | September 19, 2008 12:14 PM | Report abuse

****************************************
Note the date on this Politico piece by Ben Smith- OF COURSE OBAMA "NEVER HEARD OF" His Advisor Franklin Raines who took $90 Million out of Fannie Mae and ran it into the ground- I'm sure donating some to Obama- stay tuned!

******************************************
July 16, 2008
Categories: Barack Obama

Advice from Raines

An ill-timed -- for Obama -- profile of former Fannie Mae CEO Franklin Raines, forced out in an accounting mess a few years ago.

The Style Section piece reports that he's recently been taking "calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."

Hard to find anybody in the mortgage industry who's looking real great right now, but Fannie Mae's critics, in particular, seem to have been vindicated.


By Ben Smith 11:42 AM
******************

Rezko, Ayres, Raines....nice company Barack

Posted by: Scott | September 19, 2008 8:38 AM | Report abuse

McCain is so afraid to be branded as McSame he will do or say anything to tell people he is not one of 'them Bushies'. His talk of firing Cox, a person hand picked by his own party members and appointed by president Bush is just to show that he is not standing with the Bushes. What a lame guy. He has lost his backbone. When the whole country is in financial crisis, all McCain can come up with is firing Cox. How is that going to solve the immediate problem? Who is he going to appoint to replace Cox. Vanna White? Knowing how McCain picks people for high office, there is a big chance to see Vanna White and Pam Anderson as the secretary of state and secretary of defense in his administration. This dirty old man will turn the white house into a playboy mansion. All he has come up with to solve the financial problem so far is fire one guy, put together a commission to investigate and sweep it under the rug. Problem solved. He is so chicken to put the blame on Bush himself, but indirectly wants to tell the voting public that he is willing to fire people appointed by George Bush even though Cox himself has said he is going to leave in January when a new administration is sworn in. McCain is just an old man trying very hard to convince himself that there is some fire left in him.

Posted by: Robert Selby | September 19, 2008 1:14 AM | Report abuse

Let's no one trust McCain on this one.
Who is he going to replace with?
One more of his cronies, or perhaps, some barbie from Alaska, Kentucky, Texas, or Nowhere?
He's got no clue.

Posted by: El Mugoso | September 19, 2008 12:00 AM | Report abuse

ANOTHER PHONY MCCAIN RNC DISTRACTION

the RNC/MCCAIN HAVE NO CLUE ON HOW TO FIX THIS. Maybe, JUST A FEW MORE VICIOUS

Sorry McCain has not made the case. What we are witnessing, yet again, is that the PTSD suffereract of the Matter John McCain, Is a SERIAL LIAR, or, if you will, PATHELOGICAL LIAR, and one with out SHAME nor REMORSE.

FROM FACT OF THE MATTER AT http://need4trth.blogspot.com/2008/09/mccain-appears-to-be-having-no-desire.html

Today factcheck.org released a new action wire which reveals John McCain and RNC or at it again.....Here's fact checks take on it.....

There He Goes Again
September 18, 2008
McCain ad misrepresents Obama's tax plan. Again.
Summary
The McCain-Palin campaign has released a new ad that once again distorts Obama's tax plans.

* The ad claims Obama will raise taxes on electricity. He hasn't proposed any such tax. Obama does support a cap-and-trade policy that would raise the costs of electricity, but so does McCain.(...hhhhmmmmmm, can somebody say HYPOCRITE/LIAR?

* It falsely claims he would tax home heating oil. Actually, Obama proposed a rebate of up to $1,000 per family to defray increased heating oil costs, funded by what he calls a windfall profits tax on oil companies. (MCCAIN/PALIN = MORE LIES)

* The ad claims that Obama will tax "life savings." In fact, he would increase capital gains and dividends taxes only for couples earning more than $250,000 per year, or singles making $200,000. For the rest, taxes on investments would remain unchanged.

Um, need4trh here, I just wanted to inject something. Over the last three week these (MCCAIN/PALIN TAX LIE ADS AGAINST OBAMA have been left UNCHALLENGED by the POWERS THAT BE (CORPORATE MEDIA), left as is and not called what they are when referring to McCain/Palin (LIES)

The McCain campaign argues in its documentation for this ad that, whatever Obama says he would do, he will eventually be forced to break his promise and raise taxes more broadly to pay for his promised spending programs. That's an opinion they are certainly entitled to express, and to argue for. But their ad doesn't do that. Instead, it simply presents the McCain camp's opinion as a fact, and it fails to alert viewers that its claims are based on what the campaign thinks might happen in the future.


Analysis
In what has become an ongoing theme, the McCain-Palin campaign has released yet another ad that makes false claims about Barack Obama's tax plan. The ad, which was released on Sept. 18 and which the campaign says will air nationally, claims that Obama will raise income taxes and will tax "life savings, electricity and home heating oil." As we keep saying, Obama says he'll raise income taxes and capital gains taxes only for couples earning more than $250,000 per year or singles making over $200,000. He has proposed no plans to raise taxes on either home heating oil or electricity.

Electric Charges

McCain-Palin 2008 Ad:
"Dome"

Narrator: When our economy's in crisis, a big government casts a big shadow on us all.

Obama and his liberal Congressional allies want a massive government, billions in spending increases, wasteful pork.

And, we would pay -- painful income taxes, skyrocketing taxes on life savings, electricity and home heating oil.

Can your family afford that?

McCain: I'm John McCain and I approve this message.
The ad opens with standard-issue Republican warnings of the economic dangers of big government before proclaiming that Obama and his liberal allies want to bring back "a massive government" complete with billions in spending increases and waste. We are then told that Obama would raise income taxes and would increase taxes on "life savings, electricity and home heating oil."

This isn't the first time the McCain-Palin campaign has claimed that Obama would raise taxes on electricity. The claim is just as false now as it was when it first came up. The campaign bases its charge on a single comment Obama made in an interview with a San Antonio columnist. Obama did in fact say, "What we ought to tax is dirty energy, like coal and, to a lesser extent, natural gas." But, as we said then, the comment is grossly out of context. Obama's remark comes after he was asked whether we ought to tax renewable energy sources. This was not a general call for increasing taxes on coal or natural gas, and Obama certainly does not have any such proposal as part of his public platform.

One could argue that Obama's proposed cap-and-trade program constitutes an indirect tax on electricity. But McCain proposes cap-and-trade, too, and we haven't heard McCain say that he wants to tax your electric bill. These programs are designed to reduce carbon emissions by requiring companies to pay for pollution credits. Since most electricity in the U.S. is generated via coal and natural-gas plants, both carbon-emitting fossil fuels, a cap-and-trade program will result in higher electricity costs.

Overheated Claims

Contrary to the ad's claim, Obama has not proposed raising taxes on home heating oil. In fact, just the opposite. Obama is proposing rebate checks of up to $500 per individual or $1,000 per family for what he calls an "emergency energy rebate." Obama says the rebate would be large enough that a typical family in a northern state could offset the full increase in home heating costs that have resulted from rising oil prices. Obama plans to fund the rebate through a five-year windfall profits tax on oil companies.

The McCain-Palin campaign counters that a windfall profits tax on oil companies will raise the cost of heating oil. The campaign points to a Washington Post editorial which charges that the cost of the five-year tax:

Washington Post (Aug. 6): would be passed along in forgone investment in new production, lower dividends for pension funds and other shareholders, and higher prices at the pump – thus socking it to the consumers whom the plan is supposed to help.

This is a fairly standard view in economics. Corporations don't really pay taxes. Any taxes levied on a corporation are passed along to one of three places: shareholders, in the form of smaller dividends on their investments; employees, in the form of lower wages; and consumers, in the form of higher prices. The McCain-Palin campaign's argument is that increasing taxes on oil companies amounts to increasing the price of heating oil and that that increase really is just a tax being levied on home heating oil. But the tax could also fall mainly on the stockholders of the oil companies, in the form of reduced after-tax profits, dividends and stock prices. That is actually how both the Congressional Budget Office and the independent, nonpartisan Urban-Brookings Tax Policy Center allocate the benefits of tax changes on corporations.

We'll leave it to you to decide whether or not a windfall profits tax on oil companies makes economic sense. But it is misleading to describe Obama's view as a tax on home heating oil when Obama is actually proposing a rebate for home heating costs and a tax increase for oil companies.

Life Savings

The ad's claim that Obama will raise taxes on your "life savings" is only true if you're an individual making more than $200,000 (or a couple earning more than $250,000) and paying capital gains and dividend taxes. (We've said this many times now.) The "ad facts" that the McCain campaign released to reporters state very prominently that "Barack Obama would raise capital gains and dividend taxes" and that 26.7 million Americans received capital gains income while 31.5 million received dividend income. That's all true. But the very article that the campaign cites to support its claim also says quite clearly that Obama will raise capital gains and dividend taxes only on couples making more than $250,000 per year. We'd also note that more than 80 percent of all capital gains income in 2006 went to those earning more than $200,000 a year. See our Ask FactCheck on the subject for more.

McCain's Magic 8 Ball

The ad says sweepingly that "we would pay" the increased taxes, even though what Obama has proposed would produce tax cuts, not tax increases, for about 80 percent of all workers and families and about 95 percent of those with children, according to independent analysis by the Tax Policy Center. To justify its claim that "we" would pay, the McCain campaign is making a new argument. In an "ad facts" document, it cites two opinion columns which argue that Obama's new spending proposals would require him to break his pledge, and to raise taxes on couples making less than $250,000 per year. That's a prediction, which the McCain campaign states as fact in its ad. Viewers are given no indication that the ad is based on opinion about what could happen in the future.

It's certainly true that Obama's proposed spending is lower than his projected revenues, and Obama has made no secret of the fact that his plan will not result in balanced budgets for the next four years. According to the Tax Policy Center, without spending cuts elsewhere, Obama's proposals could lead to between $3.6 trillion and $5.9 trillion in new debt over 10 years. The McCain-Palin campaign is certainly entitled to argue that that level of debt is unsustainable and that Obama would therefore have to raise taxes.

That, however, is a dangerous argument. The same Tax Policy Center analysis shows that McCain's proposals would raise the debt by between $5.1 trillion and $7.4 trillion over 10 years. And while McCain has promised to balance the budget by 2013, the Tax Policy Center notes that doing so would require a 25 percent reduction in federal spending. Few economists outside the McCain-Palin campaign think that is a feasible goal. So, by the ad's logic, Obama could just as easily claim that McCain supports a massive tax increase. But if he did he would have no more justification than McCain does for this ad.

In fact, it's impossible to know for certain what either candidate will actually do if elected. Both sides are free to speculate. But unless they possess really good Magic 8 Balls, they are not free to present those speculations as settled facts.

– by Joe Miller
Sources
"Tapping Tired Wells." Washington Post. 6 August 2008.

Herman, Tom, "Your Tax Bill: How McCain, Obama Differ." The Wall Street Journal. 18 June 2008.

"The Lexington Project: Breaking Our Dependence on Foreign Oil." 2008. JohnMcCain.com. 30 July 2008.

S.139: The Climate Stewardship Act of 2003. 9 January 2003. 30 July 2008.

Guerra, Carlos. "Q&A With Sen. Barack Obama." 19 February 2008. The San Antonio News-Express. 30 July 2008.

Burman, Len, et. al. “An Updated Analysis of the 2008 Presidential Candidates’ Tax Plans: Revised August 15, 2008.” Tax Policy Center, 15 Aug. 2008.

WHEN EXACTLY IS ENOUGH ENOUGH????WHEN EXACTLY DOES THE FCC STEP IN AND NATIONALLY CENSOR THE RNC AND JOHN MCCAIN FOR COMMINT PUBLIC DISTORTIONA AND PROPORTIGN ABSOLUTE LIES?

Win, lose or draw, When you say you are going to behave a certain wasy yet in a hearbeat you behave the opposite, I think it's only fare to say as children sometimes say, "HAHA, I FOOLED YA'!!
The RNC AND MCCAIN/PALIN are BOLDLY and UNABASHEDLY committing FRAUD over the national airwaves and being given some unequivocal PASS...WHICH LEADS YET AGAIN TO THIS. Where is the CORPORATE MEDIA AND THE BALANCE OF FULL AND EQUAL SCRUTINY OF JOHN the liar MCCAIN. Why aren't they all over this on every network new show?

THE UNABASHED FREE RIDE FOR CANDIDATE MCCAIN CONTINUES

Over the course of a career, most nationally prominent politicians, particularly those who choose to seek the White House, can expect ups and downs in their treatment by the press. While some are looked on more favorably than others, most of the key figures in national politics will see times when they are hailed as victors and praised for their strengths, and times when they are derided as losers and pilloried for their weaknesses. But in recent years, there has been one exception to this rule: John McCain. While other politicians are examined with a cynical eye, McCain and his admirers in the media have cooperated to construct a shimmering image of the senator from Arizona, one that has propelled him to the heights of American politics. McCain, as he has been presented to the public, is a straight-talking maverick, a war hero standing astride the parties and untroubled by political calculations.

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Buzz up!on Yahoo!

As our new book, Free Ride: John McCain and the Media shows, no other modern politician has received as much favorable press as John McCain has in the past decade, a period that has seen him go from a relative unknown to the man that The Almanac of American Politics calls "the closest thing our politics has to a national hero." While some politicians might get nearly as much attention, and a few others (such as Chuck Hagel or Richard Lugar) are privileged with steadily laudatory press, McCain stands alone in the combination of his high profile in the media and the overwhelmingly positive tone of the coverage that the press gives him.

But calling McCain's coverage positive does not begin to convey the complexity of his singular status in the media. In a hundred ways, the rules are simply different for McCain. Indeed, when writing about McCain, journalists offer a unique brand of praise. Here are a few of the things hard-bitten reporters said about McCain during his 2000 run for the presidency:

* "A man of unshakable character, willing to stand up for his convictions." (R.W. Apple, New York Times)
* "An original, imaginative, and at times inspiring candidate." ( Jacob Weisberg, Slate)
* "Mr. McCain is running as the blunt anti-politician who won't lie, who won't spin." (Alison Mitchell, New York Times)
* "While most candidates talk up their chances, McCain engages in anti-spin." (Howard Kurtz, Washington Post)
* "He rises above the pack in admitting it's not all the other party's fault. He's eloquent, as only a prisoner of war can be." (David Nyhan, Boston Globe)
* "McCain conveys a great sense of vigor, a sense that anything can happen on his campaign." ( Roger Simon, U.S. News & World Report)
* "There's something authentic about this man." (Mike Wallace, 60 Minutes)
* "Basically just a cool dude." ( Jake Tapper, Salon)

This sampling -- all from the campaign season, when reporters tend to be more cynical -- only skims the surface. In story after story, the media portrayed -- and continue to portray -- John McCain as a larger-than-life anti-politician, unbeholden to special interests and driven not by ambition but by a sense of duty. Such was the rapport that developed between McCain and the media in 2000 that McCain staffers began to call the media their "base." As Michael Lewis, a frequent magazine contributor and bestselling author, wrote about McCain in 1997, "I became used to opening the morning paper and finding McCain's quotes on the front page and his opinions echoed on the editorial page. It was a testament to the growing distrust between the press and the more ordinary politicians. Here was a Republican Senator -- a red meat, pro-life, strong-army kind of guy -- and yet somehow he had become the preferred source of the putatively liberal media."

Lewis may have been one of the first reporters to turn his wordsmithing talents to the elevation of John McCain the politician (R.W. Apple also wrote some of the first tributes to McCain, in the New York Times), but he was hardly the last. David Broder and David Ignatius of the Washington Post, Howard Fineman of Newsweek, Joe Klein of Time (who described McCain's 2000 campaign as containing "hints of what politics might become . . . if we're lucky"), and Chris Matthews of MSNBC would have to be counted among McCain's most enthusiastic current boosters in the major media. Although these men may be more demonstrative in their admiration for McCain, that admiration is evident in nearly all the coverage McCain has received, particularly since his campaign for the 2000 Republican nomination for president. The result has been a virtually indestructible media creation: the Myth of McCain. We call it a "myth" not to assert that all the themes that run through the coverage of McCain are plainly false. Rather, we use the term according to its dictionary definition, meaning the foundational set of precepts on which a belief system is based. Even as his 2008 campaign experienced some early stumbles and he did things that seemed to call into question the foundations of his image, the Myth of McCain remained intact. The myth consists of the following ideas:

* John McCain is a maverick.
* John McCain is a moderate.
* John McCain is a straight talker.
* John McCain is a reformer.
* John McCain doesn't do things just because they're politically expedient.
* Just about all you need to know about John McCain's character is that he showed courage as a prisoner of war in Vietnam.
* John McCain has too much integrity to use his war record to his political advantage.

Some of these ideas have a basis in reality but have been wildly exaggerated; others are simply false. What is incontrovertible is that the press has continually foregrounded them at the expense of a more rounded and accurate portrait of McCain. Even when early problems on the 2008 campaign trail (such as lackluster fund-raising in the first quarter of 2007) resulted in some uncharacteristically critical coverage for McCain, the elements of the myth remained intact. What that period of more critical press showed was that even McCain's negative coverage is more positive than that which other candidates receive. Unlike other candidates, McCain finds that momentary controversies (as when he responded to a question about Iran by singing "Bomb bomb bomb, bomb bomb Iran" to the tune of "Barbara Ann") are presented in isolation, unconnected to any alleged character flaws.

The contrast with other candidates is striking. When Mitt Romney makes a seemingly exaggerated claim about his history as a hunter, reporters connect the statement to doubts about whether Romney is genuine and sincere. When John Edwards gets an expensive haircut, reporters question whether he is a true populist and sufficiently substantive. The allegedly revealing incidents are contextualized by other similar incidents from the candidate's past and then brought up again and again in the future. In other words, the negative press of the moment is linked to what we are told are the candidates' significant flaws, the deficiencies in their character that "raise questions" about whether they are fit to be president.

Not so for John McCain. The very idea that McCain might have deficiencies of character that relate to his fitness to be president is never contemplated. The consequence is that a spate of bad coverage, whether over a temporarily struggling campaign or an intemperate remark, does nothing to undermine his prospects for a future comeback. Others find their worst moments replayed over and over, used to indict their character and highlight their flaws. But the John McCain portrayed in the media has no character flaws. He may say something dumb or be down in the polls, but his fundamental virtue is never questioned. If he is down, he is therefore always poised for a revival. If he panders, he will resume his admirable candor any day -- as an April 2007 column by David Broder of the Washington Post was titled, he'll be "Straight Talking Again." In an editorial two days later, Broder's newspaper wrote, "Whatever your position on the war, then or now, Mr. McCain deserves credit for foresight and consistency about how the war should have been waged . . . the 2008 race is better for having Mr. McCain in it." Even a flagging campaign can be presented as evidence of McCain's fundamental goodness; noting that McCain seemed "dispirited" in early 2007, Newsweek offered, "It may be because he is not, at heart, a politician. He is a warrior." When a reporter says someone is "not a politician," it is the highest compliment (and exceedingly odd if the man in question has been a politician for a quarter of a century).

Over his career, McCain has compiled a record that is far more complex than his media image. The fact of the matter is that John McCain is neither a moderate nor a maverick. McCain's voting record, his ideas, his values, and his rhetoric mark him as a stout conservative -- a description that he himself adheres to. And despite occasional acts of seeming apostasy, McCain has actually been a dependably loyal member of the Republican Party. A close examination of the occasions on which he does break with the GOP -- as on campaign finance reform, for instance -- reveals them to be not just carefully calculated, but both less substantively meaningful and less risky than the way they are portrayed in the media.

By reading heroic qualities in every facet of the Arizona senator, the media have failed to give the public an accurate portrait of McCain the politician. For here is a man who, in the end, is not much different from his colleagues in Congress in ambition, calculation, and attraction to power. John McCain has been in politics for twenty-five years now. He is currently in his fourth Senate term. He has been a major contender for the presidency and is one of the most visible legislators in recent history. An antipolitician he is not.

Yet McCain is distinct from his colleagues in some critical ways. More so than any other contemporary political figure, he has cracked the media code. His careful courting of the press has resulted in the very picture of him that most serves his ends, where every statement uttered, every position taken, even every external event seems to be characterized only in the way most complimentary to John McCain. He has obtained what every politician yearns for: a press corps that acts almost as a partner in his political ambitions.

The fawning coverage has barely abated even as McCain has made a very public hard tack to the right in preparing for his second run at the presidency. In an effort to win support among the Republican Party's conservative base, without which it will be nearly impossible for him to win the party's nomination for president, McCain has sought to be more vocal and demonstrative about his genuine conservatism -- a conservatism that, running in 2000 against the establishment candidate, George W. Bush, he was happy to see obscured as he made an effort to attract moderates. Despite such a shift, the media have continued to champion McCain as a moderate among ideologues and the straightest of straight talkers.

And though in late 2006 and early 2007 McCain did receive some unfavorable coverage as his campaign seemed to have trouble getting off the ground, the old affection was evident in a press corps seemingly eager for McCain to reignite the spirit of his 2000 run. "John McCain is back on the bus," proclaimed ABC's Nightline in March 2007. "And everywhere he goes, McCain takes on all comers, all questions. A rolling no-holds-barred political free-for-all, unlike most other American campaigns these days." When McCain said he had no choice but to do what's right, correspondent Terry Moran commented, "No other choice. That's pure John McCain. Blunt, unyielding, deploying his principles... What he does do is what he's always done, play it as straight as possible...The maverick candidate still. John McCain."

If tributes like that one were rarer on the 2008 campaign trail than they had been in the past, their continued presence highlighted the unique relationship between McCain and the media, a phenomenon that simply finds no comparison in modern politics. It is important to understand the phenomenon simply because of who McCain is. As the Republican nominee for president in 2008, John McCain stands as one of the most important figures on the American political landscape. Is the McCain that the media are giving us the McCain we're actually getting? Are the media covering McCain comprehensively, accurately, and thoughtfully -- qualities that we seek in all reportage on our leaders?

But the question of how the media cover McCain has larger implications that go beyond 2008. For the last three or four decades, the media have stood as the single most important institution in American electoral politics. It is the media, more than the parties (or, arguably, even the candidates themselves), that define the pictures that voters carry in their heads as they walk into the voting booth. The media's canonization of John McCain is an object lesson in their failure to serve the American public. Please visit McCainsfreeride.com and also te realmccain2 at bravenewfilms.com.


WHEN IS ENOUGH ENOUGH? Arriana Huffington of the huffingtonpost,com had these commements to say about McCain/palin and the Republican party...

Arianna Huffington: How Obama Can Demonstrate Real Leadership on the Economic Crisis

Wall Street is melting down, and McCain and the GOP have no credible response. Indeed, McCain is so clearly clueless on this issue, the current battle over who is best suited to deal with the financial crisis should be a rout. And, so far, Obama has shown not just an incomparably greater grasp of the situation and substantive policies to deal with it, but a real fire in the belly in going after McCain's vulnerable flank. But for Obama to show the kind of transformational leadership the crisis demands, he needs to do what so many of his critics have chided him for not doing: take a stand that puts him at odds with the establishment of his own party. He did it in 2002 with the war in Iraq. He can do it in 2008 with the economy.

You see, MY FREINDS, as John MccAin SEE'S and understands he has no IDEA ABOUT THE ECONOMY, NOR ANY iDEA ON HOW TO FIX THINGS. He is relying solely on His continued free pass on scrutiny from the CORPORATE MEDIA, SMEAR FEAR AND LIES (HIS NEGATIVE AD CAMPAIGN), and on the STUPID BLINDNESS OF THE cONSERVATIVER RIGHT AND THE 'RELIABLES' WHO'LL VOTE FOR jOHN mCCaIN JUST BECAUSE OF THE FACT HE'LL APPOINT RIGHT WING JUDGES, AND BECAUSE, well they just can't vote for a black guy. It's as simple as that.

SORRY CAMP DECIETFUL AND CRONIES THE INTELLIGENT RACIALLY SOUND CONSTITUENCY JUST ISN;T BUYING THIS OLD IDEOLOGY...

Anybody have any Ideal who is a Republican 'RELIABLE"? Hillary Clinton Laid claim to this constituency when she said and i qoute, "Working class, uh hardworking class, uh rural white working class voters are supporting me. Uneducated rural living white voters....These my friends are the reliable republican constituency. PSSSST....Wake up guys, you're being DECIEVED!!!!

Posted by: need4trth | September 18, 2008 10:21 PM

Posted by: need4trth | September 18, 2008 10:51 PM | Report abuse

Did you know John McCain has voted against raising the minimum wage 19 times? Did you know McCain wants to appoint Phil Gramm Secretary of the Treasury - the very man most responsible for the mortgage failures we see left and right? The man who says the recession is all in our heads, that "we are a Nation of whiners"?

Our Nation is in crisis! You must put yourself and those you love ahead of any racial bias you may have.

Posted by: Jonathan | September 18, 2008 10:44 PM | Report abuse

Did you know John McCain has voted against raising the minimum wage 19 times? Did you know McCain wants to appoint Phil Gramm Secretary of the Treasury - the very man most responsible for the mortgage failures we see left and right? The man who says the recession is all in our heads, that "we are a Nation of whiners"?

Our Nation is in crisis! You must put yourself and those you love ahead of any racial bias you may have.Americans open your eyes.

Posted by: Jonathan | September 18, 2008 10:43 PM | Report abuse

I TYPE IN CAPS SO PEOPLE WILL LISTEN TO ME !!!

Posted by: tom | September 18, 2008 10:33 PM | Report abuse

Not having a very good week. President nominates, senate confirms, president cannot remove the SEC chairman. He basically has to agree to step down. As well Bush nominated this guy after the prior SEC chairman agreed to step down.

Second flub, McCain asked about the Zapatero government kept talking about how he'd continue the policy of remaining cool to governments that might want to harm us. He was asked 4 times about the Zapatero Government. Seems he wasn't aware of who the Zapatero Government was. Zapatero is the Spanish Prime Minister. Incidentally in April McCain spoke favorably of Zapatero and how he'd like to warm relations with Spain.

He has NO CLUE!

Posted by: fortheclueless | September 18, 2008 9:30 PM | Report abuse

As Palin wore her $2500 silk jacket at the Iowa rally.

Posted by: majorteddy | September 18, 2008 9:11 PM | Report abuse

My greatest wish at this time is to let current McCain voters to know that if we have a Republican controlled White House in these crucial next four years and if a disaster strikes whether they be a hurricane or a pole shift, that they will make Hurricane Katrina look like nothing compared to how they would treat humans during the pole shift and after. Absolutely no aid but declaring martial law for each state or country hard hit by the shift which translates into giving up our guns for protection and a police state. The slow response from the government surrounding Hurricane Katrina was their attempt to declare martial law in New Orleans and 'take over' the state. Harmful thoughts was their primary focus.

If the Republicans can't declare martial law by their wish of a next terrorist attack (terror-wish) they will certainly declare martial law after the pole shift. This I worry greatly. Humans, primarily in the unconcious has the desire to support the dark agenda and feel that an experienced, stubborn, and violent candidate is 'suitable' for the job because they feel this is what defines politicians and needs a bully to feel safe from threats from other countries. People are forgetting that Republicans also consider citizens to be terrorists as well. Many McCain voters thinks that they would be safe from a McCain administration and yet this is actually the exact opposite in reality of their intention. Bush Administration wouldn't have proposed deadly chemtrails nor the deadly viruses which were all intended secretly against the human species.
West Nile virus and the Ebola virus and their source comes from a
field office of the CIA! Do the research.
I'm looking forward to aiding many after the pole shift and hopefully many will too.

Also..

REPUBLICANS HAVE A PLAN TO KILL ANY REMAINING HUMANS IN THE AFTERLIFE OR POLESHIFT

SO FOR YOUR OWN SAKE DON'T VOTE FOR A REPUBLICAN THIS NOVEMBER BECAUSE POLE SHIFT IS POSSIBLE DURING THE NEXT PRESIDENTS TENURE. AND HAVE YOU GUYS WONDER WHY REPUBLICANS BUSH AND NOW MCCAIN WANTING TO CONTINUE
AND EXPAND THE SPYING PROGRAM? TO SAVE US FROM TERRORITS?
I DIDN'T THINK SO BUT TO TAKE CONTROL IN THE AFTERLIFE AND LOOK TO REMOVE ANYONE THREATENING THEM WHICH INCLUDES THE U.S. CITIZENS.

REPUBLICANS BELIEVE THAT U.S. CITIZENS ARE THE TERRORISTS AND THAT THE TERRORISTS THE MAJORITY OF U.S. CITIZENS BELIEVE IN ARE ACTUALLY BENEFITING THE REPUBLICAN PARTY, THUS REPUBLICANS ARE A FRIEND TO TERRORISTS WHICH MEANS ONLY ONE THING. YOU ARE CONSIDERED A TERRORIST TO THEM BECAUSE THEY SAY YOU WOULD INTERFERE WITH THEM AFTER THE POLESHIFT REGARDLESS OF WHETHER YOU ARE A REPUBLICAN OR A DEMOCRAT MATTERS NOT. WHICH IS WHY THEY ARE CONTINUTING TO EXPAND THE SPYING PROGRAM TO MAKE SURE THEY KEEP AN EYE ON ANY POTENTIAL THREATS ON U.S. SOIL WHICH INCLUDES THE U.S. CITIZENS. I'LL BET YOU ANYTHING THAT A REPUBLICAN CONTROLLED WHITE HOUSE OR CONGRESS DURING AND AFTER THE POLESHIFT ASSURES YOUR DEATH AND THESE COWARDS GOING TO THEIR BUNKERS WHILE ALL OF YOU SUFFER FROM STARVATION OR FROM DEHYDRATION. OBAMA DOESN'T EVEN KNOW THE COMING POLE SHIFT, HE JUST HEARD RUMORS AND I'M SURE THAT HE HAS NO PLANS TO BETTER HIMSELF AFTER THE POLE SHIFT BUT TO ONLY AID AND ASSIST THOSE IN NEED.

MCCAIN KNOWS OF THE COMING POLE SHIFT AND THIS MEANS TROUBLE. ITS FUNNY HOW SOME PEOPLE ARE VOTING FOR MCCAIN THIS NOVEMBER BUT THEN THEY INTEND YOUR DEATH AFTER THE POLE SHIFT FOR THOSE REMAINING THAT STILL SURVIVED.
I HAVE A FAMILY WITH 5 KIDS AND I FEEL LIKE I WILL BE IN DANGER EVEN IF I SURVIVE THE POLE SHIFT BECAUSE OF THE REPUBLICANS AND THEIR SPYING PROGRAM.

I ACTUALLY HAD A DREAM ABOUT THIS EXACT EVENT LAST NIGHT POTENTIALLY HAPPENING. THIS IS NO ACCIDENT AND IT FELT SO REAL. I WAS ALSO SHOWN JOHN MCCAIN AND PALIN TOGETHER TALKING ABOUT HOW TO CONTROL THE HUMAN POPULATION AND HOW TO WEED THEM OUT THROUGH VARIOUS DISEASES. FOR MY FAMILY AND YOUR FAMILY'S SAKE DON'T VOTE FOR THESE TWO FACE
IDIOTS. OBAMA IN MY DREAM WAS SHOWN AS A COMPASSIONATE MAN WHO LOOKED TO AID THOSE IN TROUBLE. THIS IS NO LIE.. AND IM NOT SAYING THIS JUST BECAUSE I LIKE ONE CANDIDATE OVER THE OTHER. IT WAS ACTUALLY SHOWN TO ME IN MY DREAM.

HAS ANY OF YOU HAD SIMILAR EXPERIENCES LIKE THIS IN THEIR DREAMS?

Posted by: Matt Steinberg PhD in Psychology | September 18, 2008 8:50 PM | Report abuse

I feel so... pandered too.

Posted by: pubichaironmycokecan | September 18, 2008 8:41 PM | Report abuse

about McSame ?

On 11/19/93, McCain took to the Senate floor to support an early financial deregulation bill and decry what he called "the tremendous regulatory burden imposed on financial institutions." The guy who now claims to be the trustbusting Teddy Roosevelt back then lamented "the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community."

Ten years later, McCain was bragging to the Associated Press that "I have a long voting record in support of deregulation," and to CNN that "I am a deregulator. I believe in deregulation."

And, during this year's presidential campaign taking place in the shadow of financial meltdown, McCain was only months ago insisting on PBS that "we need less government [and] less regulation" and that "I'm always for less regulation."


let's not forget the Keating scandal and McCain't either. talk about sticky hands. his prints are all over it. got out by the skin of this teeth.

Posted by: ripley | September 18, 2008 8:35 PM | Report abuse


There He Goes Again
September 18, 2008
McCain ad misrepresents Obama's tax plan. Again.
Summary
The McCain-Palin campaign has released a new ad that once again distorts Obama's tax plans.

The ad claims Obama will raise taxes on electricity. He hasn't proposed any such tax. Obama does support a cap-and-trade policy that would raise the costs of electricity, but so does McCain.
It falsely claims he would tax home heating oil. Actually, Obama proposed a rebate of up to $1,000 per family to defray increased heating oil costs, funded by what he calls a windfall profits tax on oil companies.

The ad claims that Obama will tax "life savings." In fact, he would increase capital gains and dividends taxes only for couples earning more than $250,000 per year, or singles making $200,000. For the rest, taxes on investments would remain unchanged.

The McCain campaign argues in its documentation for this ad that, whatever Obama says he would do, he will eventually be forced to break his promise and raise taxes more broadly to pay for his promised spending programs. That's an opinion they are certainly entitled to express, and to argue for. But their ad doesn't do that. Instead, it simply presents the McCain camp's opinion as a fact, and it fails to alert viewers that its claims are based on what the campaign thinks might happen in the future

Posted by: rkz1964 | September 18, 2008 8:14 PM | Report abuse

I'm a born & raised Alaskan WOMAN, used to be registered REPUBLICAN, now out going door to door to promote Obama's campaign for change.

Sarah Palin is poison for Alaska and she will be poison to the 100th power for the US. How women can justify voting for her astounds me, particularly former Hillary supporters. But hey, free country, vote for whoever you like. Just don't make up lies about Obama being behind Palin's downfall. The truth will out, and that woman has some serious skeletons in her closet waiting to tumble out. She has nobody but herself to blame for the situation she is in. Years & years of lying, manipulating & backstabbing have finally caught up with her. If McCain had come to Alaska and done a poll on the street he'd have found out that she has all sorts of credibility issues. That 80% approval rating that he keeps spouting off about at campaign stops? Just another republican lie.

Posted by: Anonymous | September 18, 2008 8:04 PM | Report abuse

The problem with making a celebrity pick is that she needs to continue doing outrageous things or she becomes last week's news. If they made a movie version, she would be played by Lindsay Lohan.

"I play hockey and I fornicate because those are the two most fun things to do in cold weather." -- Skank Marden (Ron Eldard) in the movie, Mystery Alaska

Posted by: Anonymous | September 18, 2008 8:04 PM | Report abuse

anyone see the HBO movie recount? with the florida secretary of state whatshername who just became a national figure without ever trying to become one and was not ready for that much attention but loved that she was the center of attention. that's what palin reminds me of.

Posted by: Anonymous | September 18, 2008 8:02 PM | Report abuse

PALIN/McCAIN Administration!

A WHAT Administration? A WHO Administration?


Gov. Sarah Palin is now talking about "a Palin and McCain administration."

I've also heard her refer to McCain as "my running mate" -- a term I don't recall ever hearing a VP nominee use when discussing the guy at the top of the ticket.

Maybe the fact that the crowds are leaving after she speaks, while McCain is speaking, is getting to her.

Posted by: Anonymous | September 18, 2008 8:02 PM | Report abuse

It's kind of a problem when a man with a 23 year record of opposing any form of regulation, who has repeatedly portrayed himself as a de-regulator, suddenly finds that all his policies have failed in a wave of Republican corruption and lax oversight. It's even more problematic when he just turns around and starts lying about his position, McCain is howling at the moon. What is it about these Republican politicians and insanity? First Nixon, then Bush 43, now McCain. Nutty as fruitcakes and crooked as a dog's hind leg.

Posted by: Electric Bill | September 18, 2008 7:53 PM | Report abuse

A failing, flailing campaign. The Palin bounce is over. The national polls have turned. The state by state polls are looking good. Watch the desperate attempts by the Palin/McCain ticket to distort (he'll raise taxes), distract (L. Lohan loves Obama) and deceive (I'm for government regulation of the Securities Industry!) voters.

On the issues: The Economy; The War; The Environment; McCain has been consistently wrong ..... until last week.

Palin/McCain! Wrong for America.
Bush/McCain. No More Years!!

Posted by: thebob.bob | September 18, 2008 7:34 PM | Report abuse

I hope the first Dude becomes VP in the unlikely event Palin becomes President....He is a real man's man

Posted by: tadpolelove | September 18, 2008 7:16 PM | Report abuse

this is rich. mccain wants to fire cox, a member of his own party, appointed by a president of his own party and confirmed by a senate that then was controlled by his own party. cox is only one of the problems. fire all of the republicans in control of congress who went on a deregulation and "aregulation" rampage and the administration that promoted the practice of ignoring even the regulations left in place. as www.straightrecord.com/randomrants points out, regulations are at the core of this u.s. and global economic meltdown and only regulations can fix the problem in the long run. if you want more of the same, vote gop. if you want to get some control over the mess in the long run, start regulating, as the gop treasury secretary is now begging congress to do.

Posted by: jumpingelephant | September 18, 2008 7:16 PM | Report abuse

Palin slipped up in her speech in Iowa, referring to a potential "Palin-McCain administration," putting herself at the head of the ticket. If I was McC I'd think about hiring a food-taster and someone to start the car in the morning.

Posted by: The Devil Bat | September 18, 2008 7:11 PM | Report abuse

Thats right Fire the SEC Chief and his boss President Dumbo too and that scary Dick guy running everything and those GOP senators like me while your at it.

John McSame

Posted by: dickcheneyisacorruptliar | September 18, 2008 7:09 PM | Report abuse

McCain is so desperate that he will throw everybody under the bus to get elected. Watch out, Sarah! You're next!!

Posted by: Black and Bitter Like Coffee | September 18, 2008 6:49 PM | Report abuse

edwcorey said about "Jerome Corsi today on Worldnet Daily"
Quoting Worldnet Daily is like relying on a team from an insane asylum to repair an elevator in the Empire State Building.

Corsi has a Ph.D from Harvard

http://www.youtube.com/watch?v=lrf9K6Dgizs

Are you related to Professor Irwin Corey ?


Posted by: rtfanning | September 18, 2008 6:46 PM | Report abuse

McCain proposed creating a trust to review mortgage and financial institutions, identify weaker ones and strengthen them before insolvency.

He said:
"Today we need a plan that doesn't wait until the system fails," the senator said. "For troubled institutions, this will provide an orderly process through which to identify bad loans and eventually sell them."

What a crackhead McCain is. One time he says keep government out of the private sector, and let free market work its way. Now he is saying government should take over the banks that have bad loans and sell it for them. Basically it means the federal government should pay off all bad debts the banks have and let the banks keep only the good loans. If you look at the top directors of a lot of these banks either they are close relatives of the republicans in the senate or are so tightly joined at the hips with some of these senators and the Bushies. There are Billions these senators get to hide in Bahamas or some small island or swiss bank accounts through the deregulation of the banking industry.

Posted by: Joe Plasky | September 18, 2008 6:44 PM | Report abuse

My greatest wish at this time is to let current McCain voters to know that if we have a Republican controlled White House in these crucial next four years and if a disaster strikes whether they be a hurricane or a pole shift, that they will make Hurricane Katrina look like nothing compared to how they would treat humans during the pole shift and after. Absolutely no aid but declaring martial law for each state or country hard hit by the shift which translates into giving up our guns for protection and a police state. The slow response from the government surrounding Hurricane Katrina was their attempt to declare martial law in New Orleans and 'take over' the state. Harmful thoughts was their primary focus.

If the Republicans can't declare martial law by their wish of a next terrorist attack (terror-wish) they will certainly declare martial law after the pole shift. This I worry greatly. Humans, primarily in the unconcious has the desire to support the dark agenda and feel that an experienced, stubborn, and violent candidate is 'suitable' for the job because they feel this is what defines politicians and needs a bully to feel safe from threats from other countries. People are forgetting that Republicans also consider citizens to be terrorists as well. Many McCain voters thinks that they would be safe from a McCain administration and yet this is actually the exact opposite in reality of their intention. Bush Administration wouldn't have proposed deadly chemtrails nor the deadly viruses which were all intended secretly against the human species.
West Nile virus and the Ebola virus and their source comes from a
field office of the CIA! Do the research.
I'm looking forward to aiding many after the pole shift and hopefully many will too.

Also..

REPUBLICANS HAVE A PLAN TO KILL ANY REMAINING HUMANS IN THE AFTERLIFE OR POLESHIFT

SO FOR YOUR OWN SAKE DON'T VOTE FOR A REPUBLICAN THIS NOVEMBER BECAUSE POLE SHIFT IS POSSIBLE DURING THE NEXT PRESIDENTS TENURE. AND HAVE YOU GUYS WONDER WHY REPUBLICANS BUSH AND NOW MCCAIN WANTING TO CONTINUE
AND EXPAND THE SPYING PROGRAM? TO SAVE US FROM TERRORITS?
I DIDN'T THINK SO BUT TO TAKE CONTROL IN THE AFTERLIFE AND LOOK TO REMOVE ANYONE THREATENING THEM WHICH INCLUDES THE U.S. CITIZENS.

REPUBLICANS BELIEVE THAT U.S. CITIZENS ARE THE TERRORISTS AND THAT THE TERRORISTS THE MAJORITY OF U.S. CITIZENS BELIEVE IN ARE ACTUALLY BENEFITING THE REPUBLICAN PARTY, THUS REPUBLICANS ARE A FRIEND TO TERRORISTS WHICH MEANS ONLY ONE THING. YOU ARE CONSIDERED A TERRORIST TO THEM BECAUSE THEY SAY YOU WOULD INTERFERE WITH THEM AFTER THE POLESHIFT REGARDLESS OF WHETHER YOU ARE A REPUBLICAN OR A DEMOCRAT MATTERS NOT. WHICH IS WHY THEY ARE CONTINUTING TO EXPAND THE SPYING PROGRAM TO MAKE SURE THEY KEEP AN EYE ON ANY POTENTIAL THREATS ON U.S. SOIL WHICH INCLUDES THE U.S. CITIZENS. I'LL BET YOU ANYTHING THAT A REPUBLICAN CONTROLLED WHITE HOUSE OR CONGRESS DURING AND AFTER THE POLESHIFT ASSURES YOUR DEATH AND THESE COWARDS GOING TO THEIR BUNKERS WHILE ALL OF YOU SUFFER FROM STARVATION OR FROM DEHYDRATION. OBAMA DOESN'T EVEN KNOW THE COMING POLE SHIFT, HE JUST HEARD RUMORS AND I'M SURE THAT HE HAS NO PLANS TO BETTER HIMSELF AFTER THE POLE SHIFT BUT TO ONLY AID AND ASSIST THOSE IN NEED.

MCCAIN KNOWS OF THE COMING POLE SHIFT AND THIS MEANS TROUBLE. ITS FUNNY HOW SOME PEOPLE ARE VOTING FOR MCCAIN THIS NOVEMBER BUT THEN THEY INTEND YOUR DEATH AFTER THE POLE SHIFT FOR THOSE REMAINING THAT STILL SURVIVED.
I HAVE A FAMILY WITH 5 KIDS AND I FEEL LIKE I WILL BE IN DANGER EVEN IF I SURVIVE THE POLE SHIFT BECAUSE OF THE REPUBLICANS AND THEIR SPYING PROGRAM.

I ACTUALLY HAD A DREAM ABOUT THIS EXACT EVENT LAST NIGHT POTENTIALLY HAPPENING. THIS IS NO ACCIDENT AND IT FELT SO REAL. I WAS ALSO SHOWN JOHN MCCAIN AND PALIN TOGETHER TALKING ABOUT HOW TO CONTROL THE HUMAN POPULATION AND HOW TO WEED THEM OUT THROUGH VARIOUS DISEASES. FOR MY FAMILY AND YOUR FAMILY'S SAKE DON'T VOTE FOR THESE TWO FACE
IDIOTS. OBAMA IN MY DREAM WAS SHOWN AS A COMPASSIONATE MAN WHO LOOKED TO AID THOSE IN TROUBLE. THIS IS NO LIE.. AND IM NOT SAYING THIS JUST BECAUSE I LIKE ONE CANDIDATE OVER THE OTHER. IT WAS ACTUALLY SHOWN TO ME IN MY DREAM.

HAS ANY OF YOU HAD SIMILAR EXPERIENCES LIKE THIS IN THEIR DREAMS?

Posted by: Matt Steinberg PhD in Psychology | September 18, 2008 6:43 PM | Report abuse

Fire Fire Fire that GOP chairman
Where is that pesky rabit

Elmore Fudd McSame

Posted by: dickcheneyisacorruptliar | September 18, 2008 6:35 PM | Report abuse

What is the difference between somebody losing their house in California vs. somebody losing their house in Alaska?

Lipstick.

Posted by: Mark | September 18, 2008 6:23 PM | Report abuse

John McCain the mastermind of the 1989 Lincoln Savings and Loans fiasco and a member of the Kating 5 gang didn't know this meltdown was coming? He was in the senate for so long, what has he done? Now he wants to wash off his hands and show that he is tough. His suggestion for "change", fire the securities chairman. Appoint a commission to look at what happened. This is the typical post mortem thing that happens in any corporation when a project fails. Everybody in the commission will write a 100 page report on their findings, the white house will put it all into a massive document the size of 4 or 5 yellow page phonebooks. Then they will print a million copies of that. That is it. McCain and his gang will go back to doing the under the table thing again to bring another financial fiasco in 10 years.

It will be surprising to see who the players were in the 1989 financial meltdown which cost tax payers $200 billion to bail out.
Bush Sr, veep.
Neil Bush, director of a failed bank which cost $17 billion tax payer money to bail out.
And our own so called maverick McCain who was in the midst of the Keating 5 scandal. Keating gave McCain free lavish vacations for his family including nannies to be flown on private jet to the Bahamas in return for McCain making sure the legislation does what Keating wanted in deregulating the banking industry. Cost to tax payers to bail out the failed Lincoln Savings and Loan = $170 Billion (with a B).

Now the lipstick queen wants to join the fun of milking the american tax payers.

McCain's buddies are all too old to think in any new direction for a change to the problem at hand. Other than the three ladies (Foot in the mouth Fiorina, Lipstick Palin and the eBay gal) there is really no new blood in the republican party to bring about change. These three ladies are used as cheer leaaders by McCain to show off that the dirty old man has support among women. Funny thing is both (Foot in the mouth Fiorina and the eBay gal) are pro abortion and Lipstick queen is pro teenage motherhood. McCain has no background in finance, Palin has no background in anythin other than hunting for succulnt salmon or eating moose stew.

What a bunch of idiots our republican leaders have become.

Posted by: Martha | September 18, 2008 6:13 PM | Report abuse

Cox should go. What a miss. Leveraged 40 times. That worse than credit card debt.

http://www.boppoll.com

Obama is over 1.5 million!

Posted by: SEC Ouch! | September 18, 2008 6:07 PM | Report abuse

Mr. Cox can be fired but before that we should fire Bush-Cheney and the right wing militia gang in the White House and Capitol Hill. Rather than Cox this mafia gang, McCain is included too because he has whole heartedly or foolishly supported their dirty gang of de-regulation of banking and Security companies and allowed them to do whatever they can to make more money and surely they made good their promise of making billions of dollars without any security. McCain can fire Cox but he does not know, the Americans will not only fire Bush-Cheney gang but John McCain and his Republican Congress and Senate members in the coming election.Obama is the only choice for America to change the Washington D.C and he will do it.

Posted by: john dahodi | September 18, 2008 6:04 PM | Report abuse

Mr. Cox can be fired but before that we should fire Bush-Cheney and the right wing militia gang in the White House and Capitol Hill. Rather than Cox this mafia gang, McCain is included too because he has whole heartedly or foolishly supported their dirty gang of de-regulation of banking and Security companies and allowed them to do whatever they can to make more money and surely they made good their promise of making billions of dollars without any security. McCain can fire Cox but he does not know, the Americans will not only fire Bush-Cheney gang but John McCain and his Republican Congress and Senate members in the coming election.Obama is the only choice for America to change the Washington D.C and he will do it.

Posted by: john dahodi | September 18, 2008 6:04 PM | Report abuse

Michael my comments were not that congress was controlled by dems in 2005 but that McCain was speaking about the need to pass legislation that had been proposed and that Fannie and Freddie needed to be controlled. The Dems blocked that in 2005. Then all of sudden in 2007 Obama has an epiphany of sorts and now wants to take credit for it??? Just because you have control of congress does not mean that a minority cannot block legislation and such.

Posted by: kalexander1 | September 18, 2008 5:56 PM | Report abuse

Hooray for Michelle Obama - she made it to the Best Dressed list this year, just announced today. I thought she looked gorgeous and her style fab at the Convention... she always does look wonderful.

By contrast, Cindy McCain spent well over $300K on her wardrobe and jewels for the tacky GOP convention (that Nazi-style hate fest) and her hair looked like a hooker's.

Enter Palin and her poor white trash family - she may be together enough these days but it took her years of college/university hopping before she finally did graduate with a degree in journalism from....(drum roll please!) .... Idaho State.

Then we have her lovely brood of trailer trash, er "tribe" and their various woes -- one in trouble with the law so shipping off to fight in EYE-RACK, the other knocked up and forced (at rifle-point?) to marry her reluctant "fiance" at the last minute....

Let's have no more trailer trash, no more tacky displays of vulgar, ill-begotten wealth, and no more FAILED BANKING SYSTEMS and economic disasters: VOTE for the truly classy, intelligent and articulate ticket -- OBAMA-BIDEN.

Posted by: Mr. Binky from Houston | September 18, 2008 5:42 PM | Report abuse

So Phil Gramm, John McCain's supposedly banished economic guru and campaign chairman, has been seeking Ron Paul's endorsement. Paul's answer? Not in a million years.


Here Ron Paul is just a few minutes ago:

"I can't endorse somebody (McCain) that disagrees with me on all the major issues -- on the federal reserve system, on spending and taxes, and No Child Left Behind, and McCain-Feingold, and foreign policy especially. I mean I could never support somebody who thinks that its funny to say "bomb, bomb, bomb Iran." That to me is not somebody I could endorse ever."

-Ron Paul - 9/18/08
.
http://www.youtube.com/watch?v=mOb3cC2FVIg
.


Paul's strident non-endorsement is the biggest deal here, but there's another issue: what in the world is Phil Gramm doing politicking on John McCain's behalf? Hadn't he been banished to Belarus? Does this mean that John McCain now endorses Gramm's "Americans are whiners" comments?

Posted by: Bush + McCain = "W"orthless | September 18, 2008 5:37 PM | Report abuse

To John McCain:

Presidents can't fire the SEC chair, only appoint them with the approval of the Senate, in which case was controlled by the Republicans. Besides Chris Cox is a former Republican Congressman appointed by Bush and Co. in 2005 before Congress was controlled by the Democrats. So, John, are you going tell Bush to SHOVE IT, he's your sugar daddy right now for campaign money.

Posted by: Anonymous | September 18, 2008 5:34 PM | Report abuse

"In 1999, President Clinton signed the Financial Services Modernization Act, which tore down Glass-Steagall's reforms by removing the walls separating banks, securities firms and insurers.

Under President Clinton and his successor, the government became eager to promote home ownership. Interest rates were low, the market grew for loans to borrowers with weak credit and private-sector mortgage bonds boomed. About 38 percent of those bonds were backed by subprime loans. They are at the root of today's financial crisis."

http://www.truthout.org/article/wall-street-crisis-is-culmination-28-years-deregulation


Posted by: Adrian

And who drew up such legislation with a veto-proof majority? "In 1999, former Senator Phil Gramm (who is, incidentally, Senator John McCain's economic adviser and cochairs his presidential campaign) set out to completely gut the Glass-Steagall Act, and did so successfully, replacing most of its components with the new Gramm-Leach-Bliley Act: allowing commercial banks, investment banks, and insurers to merge (which would have violated antitrust laws under Glass-Steagall). Sen. Gramm was the driving force behind the Gramm-Leach-Bliley Act, as he had received over $4.6 million from the FIRE sector (Finance, Insurance and Real Estate donations) over the previous decade, and once the Act passed, an influx of "megamergers" took place among banks and insurance and securities companies, as if they had been eagerly awaiting the passage of Gramm's Act. Everything in between Glass-Steagall and Gramm-Leach-Bliley (i.e. Savings and Loan crisis/bust) was, in large part, the incubation period for what would take place over the nine years that would follow the passage of Gramm's Act: an experiment in deregulation." http://losangeles.injuryboard.com/miscellaneous/the-subprime-mess-and-phil-gramm-an-experiment-in-deregulation.aspx?googleid=242468

Posted by: edwcorey | September 18, 2008 5:30 PM | Report abuse

Mr. Corsi conveniently forgets the relationship of Rick Davis and his cohorts to Fannie Mae and Freddie Mac. Corsi, once again, is the liar of the century.

Posted by: Robert | September 18, 2008 5:24 PM | Report abuse

"Jerome Corsi today on Worldnet Daily"

Posted by: rtfanning

Quoting Worldnet Daily is like relying on a team from an insane asylum to repair an elevator in the Empire State Building.

Posted by: edwcorey | September 18, 2008 5:23 PM | Report abuse

Cox should be fired and few others I'm sure. Obama has been taunting that in 2007 he called for reform of Fannie and Freddie. Wow 2 flippin years after John McCain called for it. The Dems have done nothing, I mean nothing since taking control of Congress except let things go so bad in the interest of their candidate running for President. Pelosi is a fool, she a feminist freak of nature without a brain. Reid is a puppet at best. Chris Dodd just sat back as the Chairman of the Banking/Housing committee and padded his pocket with 3% percent home loans and cash from Fannie. Let's not forget that Obama was in the top 5 for getting money from Fannie. How does a flipping freshman senator become one of the top grossing lobbying recipients of Fannie???? I suppose suppressing Republican cries for reform in 2005 has a price for the Dems, too bad it is Americans paying for it in the end.

Posted by: kalexander1 | September 18, 2008 4:55 PM
-----------------------------
Hmmm, 2005? Correct me if I'm wrong, but the Dems gained "control" on Congress after the 2006 elections, right? But now, according to you, it's the Dems fault? BS. It was a Republican controlled Congress and administration.

Surely you can do better than that? No, I guess not. Good thing you're for responsiblity and accountability... except when it is your responsibility and you are (should be) accountable.

Posted by: michael4 | September 18, 2008 5:23 PM | Report abuse

This man is an absolute idiot!

Posted by: Ken | September 18, 2008 5:19 PM | Report abuse

In a twisted sort of way I almost want McCain to win this election because four more years worth of failed Bush/McCain policies would for all intents and purposes be the end of the Republican party as we know it today. They would become the 4th party gadflies that they deserve to be.

The only question is, would this country survive it?

You people out there who live in economic downtrodden states like Ohio, Pa and Michigan etc, if you are stupid enough to vote for McCain, a guy who is offering four more years of the exact same failed policies that Bush gave us...you will deserve every bit of the continued economic hardship a "President McCain" would give you.

Posted by: former Republican | September 18, 2008 4:58 PM
------------------------------
I absolutely agree, except that the country wouldn't survive well with this neocon cabal in charge for another 4 years.

However, if OH, MI and FL continue to vote for these criminals then they do get what they deserve and any sympathy for them, however small may exist now after they put Bush in twice, should be gone the way of the dinosaur.

BTW, I wonder if McCain cleared his "firing" with Caribou Barbie?

Posted by: michael4 | September 18, 2008 5:11 PM | Report abuse

It is rather obvious that neither McCain nor Obama have the financial and banking background to fix these problems. Biden although a little stronger still falls quite short as seen by personal wealth. Obama and McCain should appoint two people to oversee the new regulations and checks for red flags (tailored like the IRS audit triggers), their names are Bloomberg and Bradley. Together they possess the deep knowledge needed to make sure a reoccurance does not happen and a feasible way out of this mess.

Posted by: Jimbo | September 18, 2008 5:05 PM | Report abuse

Fire the SEC chairman? Huh?? One guy is responsible for this mess? Hardly. It's more the fast, easy money, no-holds-barred approach of Wall Street encouraged by free-market, deregulator Republicans like McCain.

Posted by: HonestAbe | September 18, 2008 5:02 PM | Report abuse

In a twisted sort of way I almost want McCain to win this election because four more years worth of failed Bush/McCain policies would for all intents and purposes be the end of the Republican party as we know it today. They would become the 4th party gadflies that they deserve to be.


The only question is, would this country survive it?


You people out there who live in economic downtrodden states like Ohio, Pa and Michigan etc, if you are stupid enough to vote for McCain, a guy who is offering four more years of the exact same failed policies that Bush gave us...you will deserve every bit of the continued economic hardship a "President McCain" would give you.
.
http://www.youtube.com/watch?v=YxT0s_I5WtA
.

Posted by: former Republican | September 18, 2008 4:58 PM | Report abuse

Cox should be fired and few others I'm sure. Obama has been taunting that in 2007 he called for reform of Fannie and Freddie. Wow 2 flippin years after John McCain called for it. The Dems have done nothing, I mean nothing since taking control of Congress except let things go so bad in the interest of their candidate running for President. Pelosi is a fool, she a feminist freak of nature without a brain. Reid is a puppet at best. Chris Dodd just sat back as the Chairman of the Banking/Housing committee and padded his pocket with 3% percent home loans and cash from Fannie. Let's not forget that Obama was in the top 5 for getting money from Fannie. How does a flipping freshman senator become one of the top grossing lobbying recipients of Fannie???? I suppose suppressing Republican cries for reform in 2005 has a price for the Dems, too bad it is Americans paying for it in the end.

Posted by: kalexander1 | September 18, 2008 4:55 PM | Report abuse

Fannie Mae, Freddie Mac execs
now offering advice to Obama
Senator's links to mortgage giants
also include campaign contributions

Fannie Mae headquarters in Washington, D.C.
NEW YORK – Campaign contributions from Fannie Mae and Freddie Mac made to Barack Obama may backfire if the Democratic presidential hopeful wages an aggressive campaign to cast blame on rival John McCain and the Republicans in Congress for the mortgage-related losses that forced the U.S. Treasury to take over the quasi-governmental mortgage giants.

A review of Federal Election Commission records back to 1989 reveals Obama in his three complete years in the Senate is the second largest recipient of Freddie Mac and Fannie Mae campaign contributions, behind only Sen. Christopher Dodd, D-Conn., the powerful chairman of the Senate banking committee. Dodd was first elected to the Senate in 1980.

According to OpenSecrets.com, from 1989 to 2008, Dodd received $165,400 in Fannie Mae and Freddie Mac campaign contributions, including contributions from PACs and individuals, followed by Obama, who received $126,349 in such contributions since being elected to the Senate in 2004.

In contrast, McCain warned of the coming mortgage crisis as he pressed in 2005 for regulatory reform of Fannie Mae and Freddie Mac.

(Story continues below)


"For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac – known as government-sponsored entities or GSEs – and the sheer magnitude of these companies and the role they play in the housing market," McCain said on the floor of the Senate in 2005, speaking in favor of the Federal Housing Enterprise Regulatory Reform Act of 2005.

McCain pointed out Fannie Mae's regulator had stated the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The bill passed the House but was never brought up for a vote in the Senate, largely because of Democratic opposition to change in the Fannie Mae and Freddie Mac regulatory structure that remained in place until the Treasury takeover two weeks ago.

As evidenced by the failure to pass the Federal Housing Enterprise Regulatory Reform Act of 2005, the Democrats in Congress have repeatedly fought back Republican Party efforts to reform the two mortgage banking giants.

Instead, Democrats in Congress have sought to preserve the quasi-governmental status of the mortgage giants, seeing Fannie Mae and Freddie Mac as places to locate former top Democratic Party operatives, where they have earned millions in compensation, despite a continuing series of financial scandals. Enron-like accounting manipulation, for example, boosted earnings to a level at which massive executive bonuses could be paid.

In the aftermath of the U.S. government takeover, attention has focused on three Democrats with close ties to Obama who served as Fannie Mae executives: Franklin Raines, former Clinton administration budget director; James Johnson, former aide to Democratic Vice President Walter Mondale; and Jamie Gorelick, former Clinton administration deputy attorney general.

All three Obama-related executives earned millions in compensation from Fannie Mae.

Johnson earned $21 million in just his last year serving as Fannie Mae CEO from 1991 to 1998; Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004; and Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003, according to author David Frum, a fellow at the American Enterprise Institute.

All three have been involved in mortgage-related financial scandals.

In 1998, according to the Washington Post, Gorelick, as Fannie Mae vice chairman, received a bonus of $779,625, despite a scandal in which employees falsified signatures on accounting transactions to manipulate books to meet 1998 earning targets. The moves, in turn, triggered multi-million-dollar bonuses for top executives.

Gorelick was embroiled in another controversy over an alleged conflict of interest when a 1995 memo she authored as deputy attorney general surfaced while she was a member of the 9/11 commission.

The memo, which became known as the "Gorelick Wall," appeared to establish barriers that barred federal anti-terrorist criminal investigators from accessing various federal records and databases that may have assisted them in their criminal investigations.

According to the Associated Press, Raines and several other Fannie Mae top executives were ordered in a civil lawsuit to pay nearly $31.4 million for manipulating Fannie Mae earnings over a period of six years to trigger their massive bonuses.

Raines was also forced in the settlement to give up Fannie Mae stock options valued at $15.6 million.

Last year, the Securities and Exchange Commission alleged Freddie Mac had engaged in accounting fraud from 2000 to 2002, imposing a $50 million fine on the company and on four executives fines for amounts ranging from $65,000 to $250,000.

Raines currently advises Obama on housing policy.

Johnson was appointed to head Obama's vice presidential selection committee, until a controversy concerning an alleged $7 millions in questionable real estate loans he received on favorable terms from failed sub-prime mortgage lender Countrywide Financial surfaced and forced him to step down.

WND previously reported a panel chaired by Elena Kagan, dean and professor of law at Harvard Law School, speculated at the June two-day meeting of the American Constitution Society that Gorelick was a possible attorney general cabinet appointment if Obama should be elected president.

The decision by the U.S. Treasury to take over Freddie Mac and Fannie Mae could end up costing the U.S. taxpayer as much as $100 billion, although the extent of losses at the two giant mortgage companies remains to be determined.

According to the Wall Street Journal, Freddie and Fannie own or guarantee about $5.2 trillion worth of mortgages.

The riskiest loans held by Freddie and Fannie are known as "Alt-A" and sub-prime mortgages, worth about $780 billion, or about 15 percent of the total portfolio.

The federal government takeover of Freddie and Fannie passes to U.S. taxpayers the contingent liability for failures in the entire $5.2 trillion loan portfolio held by the two mortgage giants.

Over the past four quarters, Freddie and Fannie have suffered losses of about $14 billion, as the mortgage market has been hit by a wave of defaults and foreclosures not seen in the U.S. since the 1930s.


Jerome Corsi today on Worldnet Daily

Posted by: rtfanning | September 18, 2008 4:54 PM | Report abuse

The Federal Reserve has backstopped the purchase of Bear Stearns to the tune of $29 billion. It will loan $85 billion to insurer AIG. It's letting banks borrow up to $150 billion using risky mortgage-backed securities as collateral. And it's letting investment banks, which it doesn't regulate, get short-term loans using the central bank's discount window.

The Treasury, meanwhile, has pledged to backstop Fannie and Freddie up to $200 billion. Lawmakers passed legislation allowing the Federal Housing Administration to insure up to $300 billion in loans for troubled borrowers. They're likely to loan $25 billion to the auto industry.

Republican economics - privatize the profits - socialize the losses.

:-)

Posted by: toritto | September 18, 2008 4:46 PM | Report abuse

Sorry, Senator McCain, but the President can't fire the SEC Chairman. Research, then speak. Jeez.

Posted by: freedom5 | September 18, 2008 4:41 PM | Report abuse

Don't just fire the SEC Chairman - fire them all!! :-)

Posted by: toritto | September 18, 2008 4:41 PM | Report abuse

At the same time the remarks are being made about how McCain responded, goes to show where we all at. Eventhough make made these remarks doesn't necessarily mean will not go back into balance of the situation, he is just venting because he cares. I know this may sound off the wall. But at least he revealed or was open to admit the fact of short sale when most of big boys didn't in the first place, when this mess evolved. That is what I'm looking for, McCain when in a better type of stage of events, will do the right thing, even after he responds suprisingly. I still trust him, he is simple, he just vents..he is eccentric. He has observed the major players for a long time, he knows what has to be done..
When he has this kind of knowledge & hard knocks & still stands to establish the Truth, that Americans want, he will take the right action for us to see that are concerns are anwsered, in all MATTERS. He a teamplayer, he wants all parties to work together. I would go with someone that has imperfections that someone who presents himself polished but doesn't have the knocks to be polished as McCain.

Posted by: sutton | September 18, 2008 4:41 PM | Report abuse

McCain in April declared that there had been "great progress economically" during the Bush years. On more than one occasion, he diagnosed Americans' concerns over the dismal U.S. economy as "psychological." (Phil Gramm, McCain's close friend and adviser supposedly excommunicated over his "whiners" remarks, was back with the campaign last week.) McCain, a man who owns eight homes nationwide, in March lectured Americans facing foreclosure that they ought to be "doing what is necessary -- working a second job, skipping a vacation, and managing their budgets -- to make their payments on time." And when all else fails, McCain told the people of the economically devastated regions in Martin County, Kentucky and Youngstown, Ohio, there's always eBay.


In his defense, McCain's shocking tone-deafness may just be a matter of perspective. When you're as well off as he is, anything below a $5 million income (a figure exceeding that earned on average by the top 0.1% of Americans) seems middle class.


*The $100 Million Man*
Courtesy of his wife Cindy's beer distribution fortune (one her late father apparently chose not to share with her half-sister Kathleen), the McCains are worth well over $100 million. (In the two-page tax summary she eventually released to the public, Cindy McCain reported another $6 million in 2006.) As Salon reported back in 2000, the second Mrs. McCain's millions were essential in launching her husband's political career. Unsurprisingly, the Weekly Standard's Matthew Continetti, who four years ago called Theresa Heinz-Kerry a "sugar mommy," has been silent on the topic of Cindy McCain.


*The Joys of (Eight) Home Ownership*
While fellow adulterer John Edwards was pilloried for his mansion, John McCain's eight homes around the country have received little notice or criticism. His properties include a 10 acre lake-side Sedona estate, euphemistically called a "cabin" by the McCain campaign, and a home featured in Architectural Digest. The one featuring "remote control window coverings" was recently put up for sale. Still, their formidable resources did not prevent the McCains from failing to pay taxes on a tony La Jolla, California condo used by Cindy's aged aunt.


*The Anheuser-Busch Windfall*
As it turns out, the beauty of globalization is in the eye of the beholder. While John McCain apparently played a critical role in facilitating DHL's takeover of Airborne (and with it, the looming loss of 8,000 jobs in Wilmington, Ohio), Cindy McCain is set to earn a staggering multi-million dollar pay-day from the acquisition of Anheuser-Busch by the Belgian beverage giant, In Bev. As the Wall Street Journal reported in July, Mrs. McCain runs the third largest Anheuser-Busch distributorship in the nation, and owns between $2.5 and $5 million in the company's stock. Amazingly, while Missouri's politicians of both parties lined up to try to block the sale, John McCain held a fundraiser in the Show Me State even as the In Bev deal was being finalized.


*McCain's $370,000 Personal Tax Break*
Earlier this year, the Center for American Progress analyzed John McCain's tax proposals. The conclusion? McCain's plan is radically more regressive than even that of President Bush, delivering 58% of its benefits to the wealthiest 1% of American taxpayers. McCain's born-again support for the Bush tax cuts has one additional bonus for Mr. Straight Talk: the McCains would save an estimated $373,000 a year.


*Paying Off $225,000 Credit Card Debt - Priceless*
That massive windfall from his own tax plan will come in handy for John McCain. As was reported in June, the McCains were carrying over $225,000 in credit card debt. The American Express card - don't leave your homes without it.


*Charity Begins at Home*
As Harpers documented earlier this year, the McCains are true believers in the old saying that charity begins at home:
.
Between 2001 and 2006, McCain contributed roughly $950,000 to [their] foundation. That accounted for all of its listed income other than for $100 that came from an anonymous donor. During that same period, the McCain foundation made contributions of roughly $1.6 million. More than $500,000 went to his kids' private schools, most of which was donated when his children were attending those institutions. So McCain apparently received major tax deductions for supporting elite schools attended by his children.
.
Ironically, the McCain campaign last week blasted Barack Obama for having attended a private school in Hawaii on scholarship. That attack came just weeks after John McCain held an event at his old prep school, Episcopal High, an institution where fees now top $38,000 a year.


*Private Jet Setters*
As the New York Times detailed back in April, John McCain enjoyed the use of his wife's private jet for his campaign, courtesy of election law loopholes he helped craft. Despite the controversy, McCain continued to use Cindy's corporate jet. For her part, Cindy McCain says that even with skyrocketing fuel costs, "in Arizona the only way to get around the state is by small private plane."


*Help on the Homefront*
In these tough economic times, the McCains are able to stretch their household budget. As the AP reported in April, "McCain reported paying $136,572 in wages to household employees in 2007. Aides say the McCains pay for a caretaker for a cabin in Sedona, Ariz., child care for their teenage daughter, and a personal assistant for Cindy McCain."


*Well-Heeled in $520 Shoes*
If clothes make the man, then John McCain has it made. As Huffington Post noted in July, "He has worn a pair of $520 black leather Ferragamo shoes on every recent campaign stop - from a news conference with the Dalai Lama to a supermarket visit in Bethlehem, PA." It is altogether fitting that McCain wore the golden loafers during a golf outing with President George H.W. Bush in which he rode around in cart displaying the sign, "Property of Bush #41. Hands Off."


http://www.youtube.com/watch?v=N38Ug_ugzXs
.

Posted by: McCain is a LIAR! | September 18, 2008 4:40 PM | Report abuse

Chris Cox is NOT the problem. In fact, I think he -- and others of his ilk -- are ultimately part of the solution. He has been hamstring by the legislation governing the SEC, which is something that most politically-savvy/government-conscious people know. Unfortunately, those people don't decide the election. I wonder how far afield from the Straight Talk Express Senator McCain intends to go?

Posted by: Billy | September 18, 2008 4:39 PM | Report abuse

So are many of you arguing to keep the head of the SEC in place?

Posted by: Anonymous | September 18, 2008 4:29 PM | Report abuse

McCain wants to replace Cox with his dear friend Phil Gramm.

Posted by: JakeD | September 18, 2008 4:27 PM | Report abuse

I guess it is fully convenient for EVERYONE to forget who has been in the senate since 1973 - Joe Biden. What has Biden ever done for this country. He has always been a tax and spend liberal socialist. Every time Obama gives a speech condemning McCain's time in the senate, he conveniently forgets his running mate's years in the senate. If no one on these posts will admit that it is both parties fault, then your lying to yourself and trying to lie about this issue to others. Read what part of the problem on wallstreet is.
-------------------------------------------

"In 1999, President Clinton signed the Financial Services Modernization Act, which tore down Glass-Steagall's reforms by removing the walls separating banks, securities firms and insurers.

Under President Clinton and his successor, the government became eager to promote home ownership. Interest rates were low, the market grew for loans to borrowers with weak credit and private-sector mortgage bonds boomed. About 38 percent of those bonds were backed by subprime loans. They are at the root of today's financial crisis."

http://www.truthout.org/article/wall-street-crisis-is-culmination-28-years-deregulation


Posted by: Adrian | September 18, 2008 4:24 PM | Report abuse

those asleep at the wheel(sec, and congress) should be put to sleep...

Posted by: Dwight | September 18, 2008 4:24 PM | Report abuse

Peggy:

I am voting McCain-Palin ; )

Posted by: JakeD | September 18, 2008 4:20 PM | Report abuse

I have the perfect person to head his commission--Sarah Palin.

Okay, we've all had our laugh, let's get serious now...

Posted by: amaikovich | September 18, 2008 4:20 PM | Report abuse

So, essentially McCain is endorsing the idea that Republicans have mis-managed the economy?

Again we ask: then why would I want to vote for you?

Posted by: drossless | September 18, 2008 4:13 PM | Report abuse

McCain is hip-deep in the deregulation-corruption-bailout culture that has plagued DC and NYC for decades.

He got his hand caught in the S&L cookie jar. And his buddy Gramm's fingers are all over Enron and the repeal of Glass-Steagall.

Fire McCain and Gramm.

Posted by: Deep Blue | September 18, 2008 4:11 PM | Report abuse

The SEC is not regulatory agency; it's an enforcement agency. The rules it makes must be based on existing legislation. As of now, making reckless, expensive decisions is not illegal. McCain was in the Navy - he should know that changing the captain of a ship that has no guns won't make it more effective in battle. Fox may not be the best chairman in the world, but the fault for the credit mess is Senator McCain himself and his anti-regulation party.

Posted by: nedc5 | September 18, 2008 4:05 PM | Report abuse

I don't know anything about Christopher Cox's job performance. However, this latest by John McCain is completely in line with his simplistic election year pandering to (what he must assume to be) dumb American voters:

* A $20 gas tax holiday to address $4+/gas woes and an energy crisis.
* Drill, drill, drill offshore oil to address a 40 year energy crisis.
* Now, fire the head of the SEC to address a huge systemic issue precipitated in at least in part with helpf from his own Phil Gramm through his legislation to deregulate the investment markets and exempt derivatives from public scrutiny.

Posted by: Bill P. | September 18, 2008 4:04 PM | Report abuse

J.McCAIN PROVED AGAIN THAT HE IS OUT OF REALITY AND A COPY-CAT. TODAY 7.30 a.m. E.T. JIM CRAMER GAVE AN INTERVIEW AT TheStreet.com ABOUT THE ECONOMY AND SUGESTED FOR CHRIS COX TO BE FIRED. TWO HOURS LATER J.McCAIN MADE A STATEMENT ABOUT CHRIS COX TO BE FIRED. HE DOESN'T HAVE A CLUE ABOUT THE ECONOMY AND THE NATION'S PROBLEMS.

Posted by: Dick | September 18, 2008 4:03 PM | Report abuse

46 days or 4 years?

The clock is ticking and our hope is fading. I feel it; I see it. It’s like a dense fog that has taken over the once exuberant elation of hope… gone. It has left me speechless, motionless. The reason, five letters: Palin.

Her ascendancy to the vice-presidential nominee has turned this campaign upside-down. Why? She is an average American woman, who just so happened to be elected Mayor of a town the size of a two large high schools (5649 people, Census 2000) and governor of the state which according to the Census, in 2025 will have LESS THAN ONE MILLION people living in it! Imagine 1 million people! That is 1/9 the size of Los Angeles County!

Yes…she can hunt moose, she is mother of five children, and is very camera friendly. BUT CAN SHE BE PRESIDENT? I am not looking for someone whom I can go to the gun store and buy shotguns and bullets with and be well-versed in the subject. I don’t want someone who JUST GOT HER PASSPORT LAST YEAR. America, let’s stop glorifying normality! I want someone smarter than me, someone who knows the world and can speak to world leaders because they have been part of the world not sheltered in some snow-covered home. I want my president to be someone who can talk the talk and walk the walk, not someone who can spout witty retorts. Reality is, she is but a heartbeat away from the presidency. And this is what scares me.

How is it that in this last hour she has become the game changer? Obama’s inability to fight back against an opponent of which we have never seen before. He has to tip-toe and strike a delicate balance. But whatever they are doing now is not working.

Something needs to change… and that change is us.

The campaign for change across America begun with the people. And it is us people that must breathe life back into it.

No whining. No whimpering. No complaining. No resigning to the fact that this campaign is over. THIS IS IT. Let’s stop waving the white flag.

The time is now. WE HAVE 46 DAYS OR FOUR MORE YEARS. We cannot allow ourselves to become dejected by the events of the last few weeks, by the swing in polls. We cannot give up. There are 46 days. We cannot continue to lie motionless like a submissive dog, dejected, and honestly, scared of what will become of this great land of America. We have 46days. Forty six days to move, call, act, donate, talk, to do everything within our means and even beyond that to STOP ANOTHER 4 years of the same policies that put America into this precarious position. We must fight like there is no tomorrow…kicking and flailing, clamouring to survive… to breathe.

It’s time to wake up America! Let’s get ourselves out of this state of denial. Please join me in this difficult and pain-staking task, but let’s do as millions have done in our great country’s past and get back up onto our feet, stand tall and say NO MORE. NO MORE FOUR YEARS.

America is at a cusp in Her history; we cannot let Her down. It’s time we fight back to get the America that was given to us by those who fought for Her, who sacrificed their life for this great nation…we must fight like they did to hold onto what we have left.

There are 46 days or four more years.

The clock is ticking. WHAT WILL YOU DO?

-Peggy.

Posted by: Peggy | September 18, 2008 3:54 PM | Report abuse

McCain's remarks fit in with a bigger push by his campaign to distance himself from President Bush, try to tie Obama to an unpopular Congress

I must've missed the previous press release when McCain resigned HIS senate seat!

Posted by: Jimbo1949 | September 18, 2008 3:49 PM | Report abuse

WASHINGTON (AFP) - Democrat Barack Obama topped two key national polls Thursday which showed the financial crisis reverberating through the White House race and "Palin power" fading for the Republican ticket.

The Democratic hopeful, who has been lacerating rival John McCain over his capacity to rescue the US economy, led 49 to 45 percent in a new poll of likely voters nationwide by Quinnipiac University.

In a CBS/New York Times survey, Obama was up by 48 percent to 43 percent, with the race apparently reverting to the narrow Democratic ascendency seen before two presidential nominating conventions.

McCain's selection of Alaska Governor Sarah Palin as his vice presidential running mate had rocked the race and electrified the conservative base, pushing the Republican into the lead in polls and spreading panic among some Democrats.

But recent opinion snapshots polls appear to show Palin's injection of momentum for McCain diminishing.

"Senator Obama is right back where he was before the so-called convention bounces with a four-point lead," said Maurice Carroll, director the Quinnipiac University polling institute.

....maybe you can't fool all the people all the time.....

:-)

Posted by: toritto | September 18, 2008 3:45 PM | Report abuse

"The Chairman of the SEC serves at the appointment of the President and has, in my view, betrayed the public's trust," McCain said. "If I were president today, I would fire him."

Nice try John. I guess in your 25 years in Washington you didn't realize that the chairman of the SEC doesn't serve at the pleasure of the President.

I bet this came from Sarah.

"Why now John, when I have trouble with boards back in Alaska, I just fire them and appoint my girlfriends from high school to fix things. Don'cha know?"

McCain and Palin are both dumbasses. We've had 8 years of airheads making "no blink" decisions based on their gut feelings, appointing trusted people like "Brownie" to do really important jobs. I have had enough and don't want any more of "Dumb and Dumber"

McCain / Palin? Thanks but no thanks.

Posted by: DDS | September 18, 2008 3:42 PM | Report abuse

Captain John Ahab McCain, in search of the Greedy Wall Street School of Fish, just threw overboard one of the members of his crew.
Yeoman Cox was reported to be a fellow member of the Old Boys Network (TM).
Captain Ahab McCain said "Me Is Looking Fer Some Other Big Fish" to throw overboard.

In other news today, the White House has denied rumors today that McCain has also threatened to fire the President.

Some have also questioned Captain Ahab McCain's erratic behaviour, but First Mate Palin, trained in the Artic Waters off Alaska where she can see Russia, assures other members of the crew that she can take over if the Captain were to lose control.

Rumors of mutiny by the sailors have also been denied.

Posted by: Bill | September 18, 2008 3:35 PM | Report abuse

John McCain Admits It!

At a recent Wall Street Journal board meeting, McCain states, "I know a lot less about economics than I do about military..." Huffington Post
---

John McCain Asserts It!

At a recent town hall meeting in Florida, on the day that the Dow dropped over 500 points in consequence to Lehman Brothers' demise and Merrill Lynch's takeover, McCain states, "The fundamentals of our economy are strong. Newsweek
---

John McCainDoesn't Get It!

Regarding the Unemployment Rate
Inauguration Day 2001: 4.2%
Now: 6.1%

Regarding the Budget
Inauguration Day 2001: $281 Billion
Now: $357 Billion

Regarding the National Debt
Inauguration Day 2001: $5.7 Trillion
Now: $9.7 Trillion (CNN)

Posted by: Anonymous | September 18, 2008 3:25 PM | Report abuse

is this really the man that a majority of Americans say is ready to be President? Yesterday he wanted to appoint a commission to study the problem and make recommendations. Today he's so sure of the the causes of the problem that he is ready to fire the head of the SEC? And he thinks the head of the SEC serves at the pleasure of the President? Does he think the SEC is a Cabinet Position? Does he know anything about government? Is this what we could look forward to, everytime there is a disaster some scapegoat has to get fired to make McCain look like he's doing something? Be afraid. Be very afraid.....

Posted by: Politicus | September 18, 2008 3:22 PM | Report abuse

So, that WAS you?! Here's the "TELL" -- McCain was also visibly upset when he said:

My friends, tonight we are all Georgians.

Posted by: JakeD | September 18, 2008 3:20 PM | Report abuse

Oh Mr. Tough Guy McCain would fire the SEC Chairman and appoint a commission.

Let me give you some straight talk - that's just a bunch of bravado that will get us nowhere.

Posted by: Chris | September 18, 2008 3:19 PM | Report abuse

So McCain is saying that it's the Dems faults for not stopping McCain and the like from deregulating in the first place?

Posted by: Ayne | September 18, 2008 3:19 PM | Report abuse

Aspergirl blames this on Clinton? Wake up! It was Phil Gramm who authored the Commodities Futures Modernization Act - which forbids the SEC or the CFTC from monitoring swaps. It was also Gramm who authored the Gramm-Leach-Bliley Act that ended the Glass-Steagal separation of banks and investment companies.

We should fire the SEC chair who has no authority over Swaps - the biggest casino in the world?

Yes, Clinton signed both into law, but they originated with Phil "we're a nation of whiners" Gramm - McCain's economic advisor.

Fool me once, shame on you...fool me twice, NO WAY!

Posted by: BlunderBush | September 18, 2008 3:18 PM | Report abuse

GOP JUMPING SHIP

In a CNN interview over the weekend, Secretary of State Condoleezza Rice declined to defend Palin’s foreign policy credentials when asked whether Palin has “enough experience to handle the kinds of things that you need to handle?” David Kuhn, Politico

Former GOP senator Lincoln Chafee calls Palin a 'cocky wacko' AP

Nebraska Republican Sen. Chuck Hagel said his party's vice presidential nominee, Sarah Palin, lacks foreign policy experience and called it a "stretch" to say she's qualified to be president. AP

Posted by: Vote Republican | September 18, 2008 3:18 PM | Report abuse

AsprGirl: In case you didn't notice, Hillary Clinton did not win the Democratic nomination. JOHN McCAIN IS A DEREGULATOR. HE HAS SAID AS LATE AS LAST WEEK THAT WE NEED TO GET THE GOVERNMENT OUT OF REGULATION. (Oh, is the shouting annoying AsperGirl???)
You guys are fuuuuunnny. Barack Obama has been warning of the meltdown for over a year, reminded voters on Monday of his detailed plans while John McCain reiterated that the economy is "fundamentally strong." The Deregulator became Annie Oakley within days, floundering around for some cogent response. Barack Obama kept to his solid message of change, responsibility and reform. Lol ... pants on fire McCain can't figure out which window to jump out of as the press has finally called him on his dishonest campaign and his advisors waffle between laying claim on the creation of the Blackberry (ROFL) and saying they don't NEED to lay out any economic plans. We all just have to trust them.... KEATING 5KEATING5KEATING5KEATING5.... any other questions Asper dear?

Posted by: JakeD | September 18, 2008 3:17 PM | Report abuse

Forget the impeachment talk. You need 2/3 majority in the Senate to convict and there are still 49 Republicans and Lieberman sitting there.

Sweep them out - Obama + 60 Senate Democrats and we can really get something done.

:-)

Posted by: toritto | September 18, 2008 3:15 PM | Report abuse

JakeD,

here is what I posted on the other thread. Note that the second paragraph is a quote from CNN:
-----------------
Can you hear the hissing? I thought it was McCain farting. Turns out it's the Palin bimbo-bubble deflating, even conservatives such as Brooks and Rove realize this:

"Palin stumbled out of the gate on arriving in Cedar Rapids. The Alaska governor told the audience that she was thrilled to be in “Grand Rapids,” the Michigan city where the campaign had just overnighted."

http://politicalticker.blogs.cnn.com/

My friends, tonight we are all Cedar Rapidians.
-----------------

I don't see the words "terrible gaffe on Palin's part" or "upset" anywhere in that post as you implied.

Posted by: Thor | September 18, 2008 3:15 PM | Report abuse

Maybe this was a fake Thor?

"Can you hear the hissing? I thought it was McCain farting. Turns out it's the Palin bimbo-bubble deflating, even conservatives such as Brooks and Rove realize this:

"Palin stumbled out of the gate on arriving in Cedar Rapids. The Alaska governor told the audience that she was thrilled to be in “Grand Rapids,” the Michigan city where the campaign had just overnighted."

http://politicalticker.blogs.cnn.com/

My friends, tonight we are all Cedar Rapidians."

Posted by: Thor | September 18, 2008 1:38 PM

http://voices.washingtonpost.com/the-trail/2008/09/18/mccain_slights_spanish_prime_m.html

Posted by: JakeD | September 18, 2008 3:12 PM | Report abuse

To suggest that the SEC Chairman should be fired is like saying to the Captain of the Titanic (while he's choking on seawater) that he's fired. McCain has no clue what's going on, his speeches show the level of ignorance the man possesses when talking about the economy. Like a 4th grader reading a complex sentence, McCain is just a talking head without a clue as to what he's saying...huuummm sound familiar?

McCain went along with republican sponsored deregulation since the eighties and was banging his drum with the rest of the republican rabble to remove restrictions from financial institutions.

The chicken have come to roost and it's too late. The damage has been plied on our economy for years and frankly it's amazing that it lasted as long as it did.

Posted by: Ahsay | September 18, 2008 3:11 PM | Report abuse

obama-junkie: Thanks. Feel free topost it anywhere you like.

:-)

Posted by: toritto | September 18, 2008 3:11 PM | Report abuse

JakeD's shadow:

Are you voting for Obama (who hasn't called for Bush's impeachment either)?

Posted by: JakeD | September 18, 2008 3:10 PM | Report abuse

Which presidential candidate was responsible for the last financial meltdown and used his office to shelter fat cat Charles Keating and fuel the Savings & Loan debacle of the 1980s.
And pssst ... it wouldn't be the guy in high school at the time.

Posted by: JakeD | September 18, 2008 3:10 PM | Report abuse

LIAR. John McCain is a LIAR. I thought on his Commerce Committee HE was in charge of everything to do with every part of the economy ... he had time to create the Blackberry and he now blames the "inexpereinced" Sen. Obama for failing to avoid the greatest financial catastrophe of the last century? Singlehandedly? Realllly? LIAR. Johnnie ... somebody should warn you about cognitive dissonance ... it's a bit tough to claim that Obama isn't qualified, has no experience and yet blame him for every ill of the 20th century ... remember, being around Washington for 26 years has its pitfalls for the $100 Million Man and his sidekick W who's been in charge of the disintegrating economy for the last 8 years. Barack Obama is responsible???? Look at the manhugging "W" -- your soulmate, for the true culprit.

Posted by: straight talk my a** | September 18, 2008 3:07 PM | Report abuse

McCain scapegoat the SEC chairman all you want, but if you call for the impeachment of President Bush. I will then vote for you.

Posted by: JakeD's shadow | September 18, 2008 3:06 PM | Report abuse

HAHAHAHAHAHA... watching McCain flipflop around is pretty funny.

Do you REALLY THINK the behavior he's shown in the last 3 days is Presidential? He goes from "fundamentals sound" to "crisis!" to "Fire the SEC" in a matter of hours.

The dude is nuts. Seriously. Not only am I worried about his health -- he looks like poop these days -- I'm really concerned about how crazy his reaction is to this mess. jesus, how... un-Presidential. At least Dumbya is trying to look like he's taking a measured response. Instead McCain castigates "greed", "CEO's of failed companies"...

What difference would changing the golden parachute for Carly Fiorina have made to this mess? The basic problem was allowing investment banks to way overleverage this kind of investment. Prior to that it was allowing no-doc/low-doc loans and other sophisticated scams.

People will do what they can within the limits of regulation and the law to make money. That's the basis of a free-market economy. Castigating greed is just stupid.

Posted by: DDS | September 18, 2008 3:06 PM | Report abuse

THIS MESS WAS STARTED BY DEMS IN THE CLINTON YEARS,
MADE WORSE BY BUSH'S NEGLIGENCE & FEDERAL DEFICITS,
GUESS WHAT: MCCAIN HAS THE RIGHT SOLUTIONS PROPOSED

Rob Reich on MSNBC 09/16:

"In the latter years of the Clinton administration -- when I was not there any longer, I should add -- there was an attempt by Alan Greenspan and Bob Rubin and a few others to deregulate financial markets, and they did.  They split commercial banking off from investment banking.  And many people say, "Well, that was the beginning of the problem," and then, of course, in 2003-2004, Alan Greenspan reduced short-term interest rates to the point where every single bank wanted to lend money.  I mean, if you could stand up straight you could get a bank loan because there was so much pressure to get that money out the door.  Money was so cheap.  So, yes, there is some responsibility on Democrats, some responsibility on Alan Greenspan and the Fed."

CLINTON'S INVESTMENT BANKING & COMMODITY TRADING DEREGULATION, LOOSE MONETARY POLICY

The bloat of the financial sector started during the Clinton years with his sweeping deregulation of the commodity trading and banking-and-finance sectors that made things like the Enron energy trading abuses and the current investment bank expansion into conflicting business areas possible. Alan Greenspan's print-money-to-drive-growth inflationary monetary expansion policies also started during the Clinton Administration. THIS IS THE GREENSPAN-RUBIN REGIME OF ILLUSORY GROWTH. It brought us Enron, and the tech stock bubble which after it burst morphed into the real estate bubble.

In essence, Clinton abandoned Rob Reich's labor-and-strong-infrastructure approach to building a strong economy and he went with Bob Rubin's finance-and-money-policy-gimmicks to inflate the economy via a fat financial sector. These gimmicks created an illusion of growth during the Clinton Administration that became the tech stock bubble, which, after it burst at the start of the Bush Administration, morphed into the real estate bubble supported by mortgage-backed derivative products, risk-concealment, and fake valuation that the Clinton deregulation of investment banks made possible.

BUSH MAKES IT WORSE: NEGLIGENCE TO CORRUPT ABUSES, HUGE DEFICIT

Republicans aren't blameless: Bush inherited and continued these money-supply-and-banking-gimmick-growth policies, and, moreover, Bush contributed more inflationary and budgetary problems on top by driving the federal deficit to massive, historic levels and completely ignoring the corrupt and greedy excesses and abuses of the financial sector as the abuses took place. Republicans in Congress, who love deregulation, were negligent to the monsters the Democrats created.

FEEDING THE MONSTER: "LIQUIDITY BUBBLE" OF SPECULATIVE MONEY WAS OUR FOREIGN OIL $$$ COMING BACK TO US

The bloat has moreover been fed by the large amount of money we've been sending abroad to buy foreign oil -- massive amounts in the hundreds of billions a year, that has been coming back to us in the form of sovereign wealth funds and international hedge funds plowing LOTS of speculation money into these mortgage-backed securities, commodity future index funds and other investment schemes, driving up a real estate bubble & other asset inflation. The massive spending on foreign oil, mostly on credit, has created a huge "liquidity bubble" that fed the financial sector bloat. Well, even though we are still sending money abroad, the international interest in buying our credit-backed derivatives and other investment schemes has evaporated. With the loss of liquidity, asset values that were inflated, like stock and home prices, are falling back to earth.

The Democrats are still blocking domestic oil exploration & drilling, clean coal, natural gas & oil extraction technologies and nuclear power, using environmental and technical arguments that are decades out of date.

LAST BUT NOT LEAST: FANNIE MAE & FREDDIE MAC
WERE CREATED DURING CLINTON YEARS BY DEMOCRATS

Fannie and Freddie's lax lending were creations of the congressional Democrats and the Clinton Administration, intended to make mortgages available to more people who couldn't qualify easily to buy their own homes.

Fannie and Freddie have also been feeding troughs for Democrats to go to work in the semi-private sector. The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job.

"Obama is the largest individual recipient [of Fannie Mae and Freddie Mac donations] at about $112,000, federal campaign finance reports show...Republican nominee John McCain has taken $16,400 from Freddie and Fannie employees since 2005." http://www.latimes.com/news/politics/la-na-trailmoney9-2008sep09,0,1969729.story

TODAY OBAMA'S POINTING THE FINGER OF BLAME AT ... MCCAIN!

Obama is trying make Bush and the Republicans own this problem, tied to McCain somehow! Obama's part of the dysfunctional partisan culture, engaging in finger-pointing attacks, and hyping up partisan bashes in the middle of crises.

IT'S A BIPARTISAN MESS: THE DEMS STARTED IT, BUSH MADE IT WORSE

THE DEMS CREATED THE MORTGAGE PROGRAMS, BANKING & COMMODITY TRADING DEREGULATION & GREENSPAN'S INFLATIONARY MONEY POLICY

BUSH MADE THINGS WORSE: IGNORED ABUSES, FAILED TO POLICE, AND PILED ON HIS HUGE FEDERAL DEFICITS

BOTH PARTIES NEED TO WORK TOGETHER... NOW

Posted by: AsperGirl | September 18, 2008 3:05 PM | Report abuse

scootmandubious wrote: "I have the clip at:
http://scootmandubious.blogspot.com/2008/09/palin-touts-palin-mccain-administration.html"

LOL!
And all along I thought they were pushing "Country First" :)

Posted by: theantibush | September 18, 2008 3:05 PM | Report abuse


McCain is right, and Fox is not the only one who should be fired. How about bringing the Board of AIG Financial Products up on criminal charges? Too bad Greenspan is already gone.

McCain warned of Fannie/Freddie's overexposure and corruption in 2003, later introduced a Senate Bill to stop them that the Dems, including Obama, blocked. Obama was third only to Dodd and Kerry in getting campaign donations from Fannie/Freddie, and he had only been in office 3 years!

Democrats put Greenspan in, Democrats pushed for mortgages to the poor. I am a Democrat, but fair is fair. The Republicans contributed with their attitude toward regulation.

Posted by: Chicago1 | September 18, 2008 3:05 PM | Report abuse

Thor:

On the other thread, you posted about such a terrible gaffe on Palin's part, seemingly beside yourself, ergo "upset". I'm glad you're over it (did you see my link to video of Obama mistaking Souix Falls and City?).

Posted by: JakeD | September 18, 2008 3:02 PM | Report abuse

i thnk its time to fire mccain and the rest of the folks that deregulated provided the legislative loopholes that allowed this crap to happen.
john, your fired, and take the ignorant lipstick'd pitbull with yah

Posted by: tom | September 18, 2008 3:01 PM | Report abuse

No one at FOX pointed out on-air, that Palin's systematic hiding of Alaska's state business behind Palin's personal emails, is a crime, calumny, FRAUD, for the purpose of avoiding open review of her emails, by officers of the court and the legislature. Sarah Palin is a criminal, using Yahoo to do state business. Palin has the nerve to call herself a proponent of open statecraft, but Palin requires her staff to hide their emails in personal accounts. Some Yahoo emails which have been published by a citizen hacker show that Palin was doing state business (which is of a nature required to be on the state email system), on her private account. Why? To avoid detection, of crimes and misdemeanors? The law does not require us to speculate on her real purpose. To use a private email system, when the public system is required, is itself a crime.

Posted by: Bruce Becker | September 18, 2008 3:01 PM | Report abuse

McCain is a maverick! Or is he lying about that too? You think the maverick will consult with the genius Phil Gramm before he selects this new SEC chairman? Probably, but not publickly.

Posted by: Al_in_Alabama | September 18, 2008 3:00 PM | Report abuse

This is a huge unforced error on the part of McCain.

Sometimes he can be his own worst enemy.

Posted by: info | September 18, 2008 2:57 PM | Report abuse

He "would" fire the SEC chairman? Instead of wringing his hands, why doesn't he call up his buddy in the White House and make his case? Its pretty ridiculous for the candidate with the R by his name to be pounding the podium about changing things when his party is in control of everything he wants to change. Maybe he should figure out what his party affiliation means and which of its policies he doesn't vigorously object to before he asks people to elect him President.

Posted by: dmw | September 18, 2008 2:55 PM | Report abuse

He is a joke. He has had 26 years to fix the crisis. McSAME is a joke.

*McCain - Founding Member of the Keating Five:

McCain was one of the "Keating Five," congressmen investigated on ethics charges for strenuously helping convicted racketeer Charles Keating after he gave them large campaign contributions and vacation trips.
Charles Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion. His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

Though he was not convicted of anything, McCain intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions. In the mid-1980s, McCain made at least 9 trips on Keating's airplanes, and 3 of those were to Keating's luxurious retreat in the Bahamas. McCain's wife and father-in-law also were the largest investors (at $350,000) in a Keating shopping center; the Phoenix New Times called it a "sweetheart deal."


*Mafia Ties:

In 1995, McCain sent birthday regards, and regrets for not attending, to Joseph "Joe Bananas" Bonano, the head of the New York Bonano crime family, who had retired to Arizona. Another politician to send regrets was Governor Fife Symington, who has since been kicked out of office and convicted of 7 felonies relating to fraud and extortion.

Posted by: McSame | September 18, 2008 2:54 PM | Report abuse

Toritto, you make the best point on this blog worthy of re-posting as followed....

*The equity markets have lost over a trillion dollars in value over the last three days.

*Two major mortgage lenders, Countrywide and Indymac are gone.

*The two largest mortgage intermediaries, Fannie Mae and Freddie Mac have been taken over by the government.

*Three of the five giant investment banks on Wall Street no longer exist as independent entities.

*AIG, The largest insurer in the world got an $85 billion loan from the Fed today. It had been unable secure it in the private sector.

*Hundreds of billions of dollars of home value has evaporated.

*We have an enormous federal budget deficit and external debt which can only be financed by foreign lenders as we continually spend $10 billion per month in Iraq.

*Gold prices are up spectacularly in the last two days.

*Tens of billions of dollars have fled equities and gone into 3 month Tbills at ZERO or negative interest, looking for safety.

*Foreign markets are tanking and even Russia closed its stock markets for the last two days.

We are witnessing the impoverisment of America.

Last week the media was talking about lipstick, before that elitism.

The Grand Old Party (those were the days) nominates a person with the equivalent of a good community college education to be a heartbeat from the Presidency.

....the incumbents want 4 more years.

If we give it to them we deserve what we get.

Posted by: Obama-Junkie | September 18, 2008 2:50 PM | Report abuse

JakeD, who said I was upset about it?

Posted by: Thor | September 18, 2008 2:44 PM | Report abuse

1. Hoover (a republican) oversees the market crash of 1929, then lets the country languish in the Great Depression.

2. F.D.R. (a democrat) institutes the "New Deal" which takes us from the depression to prosperity.

3. Subsequent, rich republicans whine ceaselessly that the New Deal is socialism and convince paranoid xenophobes to let them dismantle the program that pulled us out of the depression.

4. The market destablizes, and another depression looms on the horizon.

5. We're stupid to let this happen.

Posted by: Charles | September 18, 2008 2:44 PM | Report abuse

WHEN DID WE ENTER THE TWILIGHT ZONE!?

mccain wants to fire the guy who was just following the bush-mccain de-regulatory practices that made all republicans filthy-rich?

WTF IS GOING ON!?

Posted by: righteousbrother | September 18, 2008 2:40 PM | Report abuse

Thor:

Are you still upset about "Grand Rapids"?

Posted by: JakeD | September 18, 2008 2:38 PM | Report abuse

MA:

I don't think there was a recorded roll-call vote on Cox at the time.

Jake's shadow:

Obama hasn't called for Bush's impeachment (Nancy Pelosi took it "off the table").

Posted by: JakeD | September 18, 2008 2:37 PM | Report abuse

This is just too funny to see "Republicans eat their young". The only difference between McCain saying a couple of days ago that a "9/11-type commission needs to investigate why the financial markets failed" and today was the added comment about GW Bush needing to fire the SEC Chairman. P-A-T-H-E-T-I-C!

And now McCain has called for a new government response, similar to the Resolution Trust Corporation used by during the 1980s S&L Crisis. WAY TO GO MCCAIN! You just gave the Obama campaign, the green light to go after you r involvement in the 1980s S&L Crisis and the similiarities to the financial market crisis of 2008. This statement McCain gives Obama to mention the McCain involvement in the Keating 5 Scandal!

Posted by: Alter-Ego JakeD | September 18, 2008 2:35 PM | Report abuse

McCain said he would offer more details on "what I will do as president to fix this crisis and get our economy moving again.''
-------------------

So he knows how to catch Bin Laden and how to fix this mess but won't do it until he is a president? What a selfish lying bastard.

Posted by: Thor | September 18, 2008 2:33 PM | Report abuse

So McCain briefly comes to from his nationwide P.O.W. flashback and discovers this newfangled gadget called the American economy.
Firing the S.E.C. chairman may not be a bad idea, but it's the typical republican strategy of attacking somebody, (often a country) and fooling people into thinking they've addressed the problem when they haven't dealt with the underlying causes and conditions. Why doesn't he just go crash another plane into the economy, hire someone to call him a hero, and declare victory?
Reality be damned. Play "Free Bird" man! I mean Free Market dude! Reality is bringin' me down, man. Cindy! Brewskies for "my friends"!

Posted by: Charles | September 18, 2008 2:30 PM | Report abuse

The equity markets have lost over a trillion dollars in value over the last three days.

Two major mortgage lenders, Countrywide and Indymac are gone.

The two largest mortgage intermediaries, Fannie Mae and Freddie Mac have been taken over by the government.

Three of the five giant investment banks on Wall Street no longer exist as independent entities.

The largest insurer in the world got an $85 billion loan from the Fed today. It had been unable secure it in the private sector.

Hundreds of billions of dollars of home value has evaporated.

We have an enormous federal budget deficit and external debt which can only be financed by foreign lenders.

Gold prices are up spectacularly in the last two days.

Tens of billions of dollars have fled equities and gone into 3 month Tbills at ZERO or negative interest, looking for safety.

Foreign markets are tanking and even Russia closed its stock markets for the last two days.

We are witnessing the impoverisment of America.

Last week the media was talking about lipstick, before that elitism.

The Grand Old Party (those were the days) nominates a person with the equivalent of a good community college education to be a heartbeat from the Presidency.

....the incumbents want 4 more years.

If we give it to them we deserve what we get.

Posted by: toritto | September 18, 2008 2:30 PM | Report abuse

His Royal Highness and Most Greatest Exalted Excellency John de Mentia McCain and Lady Sarah Louise Heath Palin have just spoken.

So it is written so it shall never be done.

Words, just words.

Posted by: :-) | September 18, 2008 2:28 PM | Report abuse

It's jaw-dropping watching McSame tie himself into knots trying to explain why HE shouldn't be fired. He's spent his political life insisting that there should be no regulation and now, when the necessary effect of lack of regulation becomes obvious, wants to fire the guy who did exactly as he told.

What a frakin' joke! McCain. Wrong on the war in Iraq, wrong on deregulation, wrong on his support for Bush, wrong on his death-row embrace of evangelicals. Wrong for America.

Posted by: thebob.bob | September 18, 2008 2:26 PM | Report abuse

Perhaps someone should inform McCain that SEC Commissioners do NOT serve at the "leisure of the Presdent". They are appointed and confirmed for 5yr terms

Posted by: pr94563 | September 18, 2008 2:24 PM | Report abuse

McCain voted to confirm Cox in 2005, as did the rest of the Senate.

Posted by: MA | September 18, 2008 2:24 PM | Report abuse

McCain... show some real balls. Call for the impeachment of the President. If you do that, i will vote for you.

Posted by: JakeD's shadow | September 18, 2008 2:23 PM | Report abuse

MCCAIN KNOWS ALL ABOUT BAILING OUT RICH BANKERS AND SCREWING OVER MIDDLE CLASS AND POOR PEOPLE, HE'S BEEN DOING IT FOR YEARS!!!


*McCain - Founding Member of the Keating Five:

McCain was one of the "Keating Five," congressmen investigated on ethics charges for strenuously helping convicted racketeer Charles Keating after he gave them large campaign contributions and vacation trips.
Charles Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion. His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

Though he was not convicted of anything, McCain intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions. In the mid-1980s, McCain made at least 9 trips on Keating's airplanes, and 3 of those were to Keating's luxurious retreat in the Bahamas. McCain's wife and father-in-law also were the largest investors (at $350,000) in a Keating shopping center; the Phoenix New Times called it a "sweetheart deal."


*Mafia Ties:

In 1995, McCain sent birthday regards, and regrets for not attending, to Joseph "Joe Bananas" Bonano, the head of the New York Bonano crime family, who had retired to Arizona. Another politician to send regrets was Governor Fife Symington, who has since been kicked out of office and convicted of 7 felonies relating to fraud and extortion.


Straight-talk, my friends:

http://www.realchange.org/mccain.htm
.

Posted by: Kylie Romanski | September 18, 2008 2:18 PM | Report abuse

Yes. We must blame the Democrats in Congress. They could easily get something done and the President to sign off on it!

What? The President, a Republican, won't sign off on a Democratic plan? Shocking!

Sheesh! I love when these guys try to play to their bases rather than working for the people.

Posted by: scott032 | September 18, 2008 2:12 PM | Report abuse

Wasn't Cox at one time considered a possible VPresident pick as a person who could assist a Presidential nominee who had no economic experience?

McCain missed that bullet.

Lucky he picked Palin. She can look those Wall Street Terrorist in the eye and "Not Blink" (Phrase Trademarked by Sarah Palin 2008M).

Posted by: Bill | September 18, 2008 2:08 PM | Report abuse

McCain has made a career of deregulating business. Let the markets work and all will be well for those who are in control. Who cares about the little people, the controlled? Remember this is a political campaign so he will say anything to win this election. The hell with his record, past performance, principle or honor!

Posted by: tydicea | September 18, 2008 2:07 PM | Report abuse

This seems like a ploy to convince voters that he is somehow proactive on this issue. I still don't think that either candidate fully understands the complexity of the situation.

http://www.politicswithagrin.blogspot.com/

Posted by: Kristen | September 18, 2008 2:03 PM | Report abuse

McCain now wants to regulate? How stupid does he think we are?

No need to answer that one.

Want to see something hilarious, check out the news clip of Sarah Palin touting what would happen in a "Palin-McCain" administration.

You'll be on the floor.

I have the clip at:
http://scootmandubious.blogspot.com/2008/09/palin-touts-palin-mccain-administration.html

Posted by: scootmandubious | September 18, 2008 2:02 PM | Report abuse

Mike O:

National polling is useless -- remember that Algore got more popular votes than Bush in 2000 -- the real contest is reflected in State-by-State numbers:

http://www.electoral-vote.com/

Posted by: JakeD | September 18, 2008 2:01 PM | Report abuse

TIME TO FIRE YOUR VP MCCAIN, MORE INFO LEAKING OUT TODAY ABOUT THE SARAH PALIN AFFAIR. http://www.hotpres.com

IS PALIN PREGNANT AGAIN??? CAN WE HAVE A PREGNANT VP? http://www.veeppeek.com

Posted by: Anonymous | September 18, 2008 2:01 PM | Report abuse

To be fair to Cox, here's the SEC Statement issued yesterday:

Statements of SEC Chairman Christopher Cox and Enforcement Division Director Linda Thomsen Regarding Immediate Commission Actions to Combat Market Manipulation

FOR IMMEDIATE RELEASE
2008-209
Washington, D.C., Sept. 17, 2008 —

Securities and Exchange Commission Chairman Christopher Cox and SEC Enforcement Division Director Linda Chatman Thomsen issued the following statements today concerning ongoing and forthcoming Commission actions to investigate fraud and manipulation in the nation's securities markets:

"Millions of investors entrust their savings to our securities markets because they can be confident that our markets are orderly, liquid, efficient, and rational," said Chairman Cox. "The turmoil in today's markets, particularly in the financial sector, is challenging that assumption for ordinary Americans. Markets are the best tool a free society has to price and allocate assets across a complex economy, but as is well known from experience, sometimes the wisdom of crowds is supplanted by crowd behavior. We need well-functioning markets to help us draw the line between reasonable miscalculation and error or something worse involving the failure of due diligence, self-dealing, and conflicts of interest. It is thus vitally important that the market mechanism continue to inspire investor confidence.

"In order to ensure that hidden manipulation, illegal naked short selling, or illegitimate trading tactics do not drive market behavior and undermine confidence, the SEC today took several actions to address short selling abuses," Chairman Cox continued. "In addition to these initiatives, which will take effect at 12:01 a.m. ET on Thursday, I am asking the Commission to consider on an emergency basis a new disclosure rule that will require hedge funds and other large investors to disclose their short positions. Prepared by the staffs of the Division of Investment Management and the Division of Corporation Finance, the new rule will be designed to ensure transparency in short selling. Managers with more than $100 million invested in securities would be required to promptly begin public reporting of their daily short positions. The managers currently report their long positions to the SEC."

Chairman Cox continued, "Director Thomsen and the Division of Enforcement will also expand their ongoing investigations by undertaking a series of additional enforcement measures against market manipulation. The Enforcement Division will obtain disclosure from significant hedge funds and other institutional traders of their past trading positions in specific securities. Those institutions will also be required immediately to secure all of their communication records in anticipation of subpoenas for these records."

SEC Director of Enforcement Linda Chatman Thomsen said, "The Enforcement Division has been investigating and will continue to investigate any suggestion of manipulative trading. We are committed to using every weapon in our arsenal to combat market manipulation that threatens investors and capital markets."

The Commission is actively considering additional actions as appropriate.

Posted by: JakeD | September 18, 2008 1:59 PM | Report abuse

Check out Gallup's latest numbers...

Obama 48%, McCain 44%

Sounds like someone's starting to feel the heat. ;)

Posted by: Mike O | September 18, 2008 1:58 PM | Report abuse

I find it laughable if not pathetic that McCain came out yesterday calling for more regulation of Wall-Street.


MCCAIN IS A LIAR!!!!


John McCain: The Deregulator:


I don’t think anyone who wants to increase the burden of government regulation and higher taxes has any real understanding of economics and the economy and what is needed in order to ensure the future of this country.”
– John McCain [McCain Town Hall in Inez, Kentucky, 4/23/08]


McCain Is An Avid Supporter Of Lax Rules For Financial Institutions
McCain Supported A Banking Bill Because It Eliminated “The Tremendous Regulatory Burden Imposed On Financial Institutions.” While speaking in favor of bank deregulation on the floor of the senate, John McCain said, “This legislation takes a small but important step toward eliminating the tremendous regulatory burden imposed on financial institutions… One principal reason banks are unable to make loans is the bewildering array of statutory and regulatory restrictions and paperwork requirements imposed by Congress and the regulatory agencies. While a case can certainly be made that every law and regulation is intended to serve a laudable purpose, the aggregate effect of the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community.” [Congressional Record, 11/19/93; emphasis added]


McCain Supported A Bill To “Takes A Small Step Forward Toward Eliminating Unnecessary Regulatory Burdens Imposed On Banks.” While speaking in favor of bank deregulation on the floor of the senate, John McCain said, “While a case can certainly be made that every law and regulation is intended to serve a laudable purpose, the aggregate effect of the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community … This bill recognizes this fact, and takes a small step forward toward eliminating unnecessary regulatory burdens imposed on banks.” [Congressional Record, 11/19/93; emphasis added]


McCain Said The Best Thing Government Can Do For Business Is “Stay Out Of Its Way.” While speaking about the American Competitiveness in the Twenty-First Century Act on the floor on the Senate in 2000, John McCain said, “I am convinced that the best thing government can often do to advance the fortunes of the private sector is to stay out of its way. I support this bill because it makes progress toward that end, by improving companies’ flexibility to hire the talent they need, while providing for the regulatory framework and new educational opportunities to protect and promote American workers.” [Congressional Record, 10/3/00; emphasis added]


In 1999, McCain Supported Phil Gramm’s Banking Deregulation Bill. In 1999, John McCain voted for passage of the Senate version of a bill that would eliminate current barriers erected by the 1933 Glass-Steagall Act and other laws that impede affiliations between banking, securities, insurance and other firms. The bill also would exempt small, non-urban banks from the 1977 Community Reinvestment Act (CRA), revise the Federal Home Loan Bank system and require that owners of automated teller machines (ATMs) provide notice on the ATM and on-screen of any charges imposed for the use of the terminal. The bill passed 54-44. [S. 900, Vote #105, 5/6/99]


McCain Missed The Vote For Final Passage Because He Was Campaigning In New Hampshire. John McCain missed the final vote on Phil Gramm’s banking deregulation bill because he was campaigning in New Hampshire. [NPR, “Morning Edition,” 11/5/99; S. 900, Vote #354, 11/4/99]


McCain Has Based His 2008 Campaign On Promoting Less Regulation:

McCain: “I Don’t Think Anyone Who Wants To Increase The Burden Of Government Regulation And Higher Taxes Has Any Real Understanding Of Economics.” During a McCain Town Hall in Inez, Kentucky, John McCain said, “When we come out of this recession and we will because I believe that the fundamentals of our economy are good … Sen. Clinton wants the government to make the decisions for you on your health care, I want the families to make the decisions on their health care. I don’t think anyone who wants to increase the burden of government regulation and higher taxes has any real understanding of economics and the economy and what is needed in order to ensure the future of this country.” [McCain Town Hall in Inez, Kentucky, 4/23/08; emphasis added]


McCain: “I Understand Why The AFL-CIO And Maybe Other Unions May Oppose My Free Market, Less Regulation, Right To Work.” During an appearance on Fox’s “Special Report with Brit Hume,” John McCain said, “I understand why the AFL-CIO and maybe other unions may oppose my free market less regulation right to work. I think we have honest differences of opinion. I respect those labor unions, but I’m sure that those differences are very intense and very real.” [Fox News,” Special Report with Brit Hume,” 3/12/08]


McCain: “Let’s Reduce Regulation.” While speaking about the economy in St. Louis, Missouri, John McCain said, “I’m asked all the time are we in a recession or not in a recession. And I don’t know the answer to that because it’s kind of a technical term… I do not believe we should raise your taxes. I think it would be the worst thing we could do. And that means to me I think the tax cuts need to be made permanent. When you’ve got a bad economy, the worst thing you can do is increase people’s tax burden. Let’s reduce it. Let’s reduce regulation.” [CNN, “Ballot Bowl, 3/15/08]


McCain: “We Need To Return To The Reagan Years… We Need Less Regulation.” As shown on PBS’s “Washington Week,” John McCain said, “We need to return to the Reagan years. We need to have fiscal conservatism. We need less government. We need less regulation. We need to end of spending spree which has eroded our base of Republican support.” [PBS, “Washington Week,” 1/25/08]


McCain Promised To “Give Them Lower Taxes, Less Regulation, Less Government In Their Lives.” As shown on CNN’s “CNN Newsroom,” John McCain said, “We’ve got to do the other things necessary to encourage business and give them lower taxes, less regulation, less government in their lives, and that means a simpler, fairer — tax code. The tax code in America is broken and it needs to be fixed.” [CNN, “CNN Newsroom,” 2/14/08]


To Fix the Economy, McCain Would “We’ve Got To Take Specific Actions, Keep Their Taxes Low, Less Regulation.” As shown on ABC’s “Good Morning America,” John McCain said, “That our economy is in terrible shape, that we’ve got to take specific actions, keep their taxes low, less regulation, get - start exploring and exploiting offshore oil deposits.” [ABC, “Good Morning America,” 7/2/08]


McCain Said The Difference Between Obama & Himself Would Be “More Regulation Or Less Regulation.” During a media availability in Phoenix, Arizona, John McCain said, “I think the important thing is that there will be stark differences between either Senator [Clinton] or Senator Obama and me because they are liberal Democrats and I’m a conservative Republican… whether we pursue the present strategy in Iraq or whether we — or whether we set a date for withdrawal, which will mean Al Qaida wins; whether we have more regulation or less regulation.” [McCain Media Availability via CQ Transcriptions, 3/3/08; emphasis added]


McCain: “Less Government, Lower Taxes, Less Regulation, Safer America Is What I Can Give America.” During an appearance on CBS’s “60 Minutes,” John McCain said, “I can make a case that a less government, lower taxes, less regulation, safer America is what I can give America. But I don’t underestimate the size of the challenge.” [CBS, “60 Minutes,” 3/9/08]


McCain Is Long-Time Supporter Of Deregulation
McCain: “I Am A Deregulator. I Believe In Deregulation.” While speaking about the cable and satellite television during an appearance on CNN’s “On the Money,” John McCain said, “I am a deregulator. I believe in deregulation.” [CNN, “In the Money,” 7/13/03]


McCain: “The Basic Core Principles Of The Republican Party… Less Government Is Best Government, Less Regulation.” When asked how the Republican Party can recover after the losses in the 2006 election, John McCain said, “By returning to the basic core principles of the Republican Party, very careful stewardship of tax dollars, less government is best government, less regulation, lower taxes, strong national defense, community and family values.” [CNN, “CNN Newsroom,” 11/8/06]


McCain: “I Have A Long Voting Record In Support Of Deregulation.” The St. Petersburg Times quoted McCain at a Senate Commerce Committee hearing as having said, “I have a long voting record in support of deregulation.” [St. Petersburg Times, 6/5/03]


McCain: “I Continue To Believe In A Strong National Defense, Free Trade, Deregulation.” During an appearance on CNN’s “Wolf Blitzer Reports,” John McCain said, “I continue to believe in a strong national defense, free trade, deregulation. I’m pro-life. There are many, many issues that I feel would make it very difficult for Democrats to embrace me.” [CNN, “Wolf Blitzer Reports,” 5/8/02; emphasis added]


McCain: “Keep The Regulation Of The Government As Much As Possible Out Of People’s Lives.” During an appearance on PBS’s “NewsHour with Jim Lehrer,” John McCain said, “If you inspect my 17-year voting record, it’s a proud conservative Republican who acts on principles and one who obviously has a very strong commitment to the leadership role the United States has to play… I think that’s probably one of our first efforts - keep the regulation of the government as much as possible out of people’s lives.” [PBS, “NewHour with Jim Lehrer,” 2/2/00]


McCain: “I Believe In Smaller Government… Less Regulation.” During an interview on PBS’s “NewsHour with Jim Lehrer,” John McCain said, “, I would argue that I have 17 years of legislative experience with a clear voting record of a strong conservative. I believe in smaller government, stronger defense, lower taxes, less regulation, encouragement of entrepreneurship, encouragement of legal immigration. I think that my fundamental philosophies and beliefs are very clear, and I’ve articulated them for years and years. And most importantly, I voted on them.” [PBS, “NewsHour with Jim Lehrer,” 10/15/99]


McCain: “I’ve Been A Good Party Member. I Agree On Most Issues, Fundamentals Of Lower Taxes, Less Regulation.” During an appearance on CNN’s “Crossfire,” John McCain said, “I’ve been a good party member. I agree on most issues, fundamentals of lower taxes, less regulation, smaller government, coherent foreign policy, strong national defense.” [CNN, “Crossfire,” 9/13/99]


McCain Supports Deregulation Whenever Possible. The Journal of Commerce reported, “A McCain aide notes in the past he has supported deregulation of other industries. ‘Any time you can responsibly deregulate, Sen. McCain wants to deregulate,’ the aide said.” [Journal of Commerce, 1/6/97]

Posted by: JennyinOhio | September 18, 2008 1:58 PM | Report abuse

McCain sounds like an angry old man who is out of touch with reality.
McCain, in effect, is criticizing Cox over last year's changes in short selling rules.
Those rules were open for public comment. Did he submit any?
The irony here is that the wife of one of his advisor, Senator Graham, was on the CFTC, and did all she could to deregulate this area, and would have been a likely supporter of Cox's initiative.
I wouldn't want to be a cabinet member in a McPalin administration. Problems are not people, but policies.
And, by the way Sen. McCain, you were Chairman of the Senate Commerce Committee which oversees the insurance industry. What did you do on the issue of national insurance solvency legislation. Nothing.

Posted by: Bill | September 18, 2008 1:57 PM | Report abuse

Ouch! Christopher Cox may not be voting for McCain-Palin ; )

P.S. to Reality Check:

Which President signed the law in 1999 that repealed Glass-Steagall Act provisions that prohibit a bank holding company from owning other financial companies?

Posted by: JakeD | September 18, 2008 1:53 PM | Report abuse

McPain...you and your party's push for deregulation caused this mess. You and your party are not the solution. I may be too young to remember the S&L scandal of the late 80's but you are old enough to have seen this coming. Disgraceful.

Sorry for the earlier version of this post.

Posted by: Reality Check | September 18, 2008 1:51 PM | Report abuse

McPain...you and your party's push for deregulation caused this mess. You are your party are not the solution. I may be too young to know remember the S&L scandal of the late 80's but you are old enough to have seen this coming. Disgraceful.

Posted by: Reality Check | September 18, 2008 1:50 PM | Report abuse

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