Read the Bills Act Coalition

Tuesday, September 16, 2008

Wall Street Reform McCain Style

From reuters:

Republican presidential nominee John McCain said on Tuesday he would set up a commission like the one that investigated the September 11 attacks to study what led to the current U.S. financial crisis and offer solutions....McCain would craft Wall Street reforms based on several principles including better corporate governance, consumer protection, a "derivatives clearing house" and an effective safety and soundness regulator for every financial institution, a senior adviser to the Arizona senator said....."We're going to need a 9/11 Commission to find out what happened and what needs to be fixed," McCain said on the ABC's "Good Morning America" a day after the financial crisis slammed global markets......"I warned two years ago that the situation was deteriorating and was unacceptable, and the old boy network and the corruption in Washington is directly involved," he said.

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Anonymous said...

You need to check out Alter of Freedom's post today about Defense spending and Virginia.
This is what we need to get out in front of everyone along with the reform agenda of McCain/Palin to secure Virginia remain a Red state.
I am sending emails to Congressman demanding they articulate to the electorate just what an Obama adminstration would do to the Virginia economy. They should be taking on the Obama supporters head on regarding the threat he represents to Virginia.

alter of freedom said...

Thanks for the plug ANON.

Another aspect of this whole thing that the media is ignoring is that the realationship between what Obama is saying out on the trail and the reality is a lie.

Obama, second only to Chris Dodd has a had a diect realtionship with the people behind Fannie Mae and Freddie Mac. Obama has received more contributions from these firms than any other member of Congress other than Dodd. He attempts to place the "lobbyist" label on McCain's team for the fact that they were once lobbyists and yet does not disclose that his very own search committee was headed by one of the CEO's of FM/FM. Of course these quasi-private entities have been controlled and run by liberals and not Republicans. Look at the rolls of these firms. They are run by ex-Clinton folks and the fact that these entities were created by the Clinton adminstration appears lost on the media.

Jody L. Wilcox said...

Great insight from both of you and incredible post Alter of Freedom It is amazing that Obama can play both sides of the coin with first portraying himself as a reformer while never once showing a history of doing so. To put the whole blame of the economic issues we're facing completely on the current administration is to not even understand the basics of capitalism or free enterprise (of the stock market itself for that matter) and the rhetoric of Obama (understandably trying for a political advantage) displays such ignorance. Fannie may and Freddie Mac have been in disarray for many years and the Obama team includes many people with less than ideal backgrounds, given the perceived economic crisis we're currently working through.