Monday, September 22, 2008
As I pointed out in my post over the weekend, the emerging consensus is that lax oversight over Wall Street and a lack of meaningful regulation is responsible for our current financial crisis. Primarily responsible for this "Deregulation!" fiasco? John McCain and his cronies in the Republican party.
Faced with the opportunity to express regret on CBS for how wrong he was on deregulation, John McCain gave us this:
Q: In 1999, you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?
McCAIN: No. I think the deregulation was probably helpful to the growth of our economy.
John McCain: Fundamentally Unqualified to Lead Us Out of an Economic Crisis