No Job, No Hope…Posted: September 30, 2008
Get Ready…Here it comes!
( from wikipedia ) In 1999, McCain voted for the Gramm-Leach-Bliley Act, which passed in the Senate by a vote of 54-44. The deregulation bill loosened restrictions on the activities of banks, brokerage houses, and insurance companies. In 2002 he voted for the Sarbanes-Oxley Act, which passed the Senate without opposition. In 2007, however, McCain stated that he regretted his vote in favor of Sarbanes-Oxley, which strengthened financial reporting requirements for publicly held companies but which has been the subject of complaints from businesses.
In 2008, McCain expressed approval of the results of financial deregulation by pointing to it as a model for health care policy, writing: “Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.”
Later in 2008, in the wake of the widely publicized crises involving the insurance company American International Group and the brokerage houses Lehman Brothers and Merrill Lynch, McCain stated: “In my administration, we’re going to hold people on Wall Street responsible. And we’re going to enact and enforce reforms to make sure that these outrages never happen in the first place.”
John McCain, “The issue of economics is not something I’ve understood as well as I should.”
god…If he is elected…we’re fucked.