In what has to be the finest example of acting I have seen in a long time, John McCain is trying to postpone Friday's debate in order to "fix the financial problems" of our country. In other words, he's seen the poll numbers, understands that the policies he supported in the last ten years have helped cause this problem, and is desperately trying to look like he is doing something.
I think Senator Obama said it best. "Presidents have to be able to do more than one thing at a time."
Maybe John McCain is incapable of doing that.
8 comments:
Hey, Mark, did you hear the date on which McCain wants to re-schedule the debate?
No...what is it?
So tell us what Obama did to help frame or pass bailout legislation? He was too chicken to vote on it. By the way the debate is on as scheduled.
Which policies were those markadelphia? Be specific.
McCain said that he wants to reschedule the debate for next Thursday and (wait for it) postpone the VP debate...gee, I wonder why.
As of this writing at nearly 6pm Eastern time, McCain has said he will not leave DC until a deal is passed which means the debate is up in the air.
McCain supported the repeal of Glass Stegall and the Responsible Lending Act. I think deregulation has played a huge part in all of this. It's not the only cause but a huge part.
markadelphia, i've seen several "point A to point B" pictures of what is going on with the financial crisis when it comes to fannie mae and freddie mac and their loans to people with poor credit scores. I noticed that all you seem to do is mention Glass Stegall and the Responsible Lending Act but you really haven't explained, in any specific way, what they have to do with the current crisis. Be more specific and give us a specific timeline and save the broad generalizations you engage in all the time. I know you've seen the youtube video of congressional democrats fighting any form of regulation for fannie and freddie.
"i've seen several "point A to point B" pictures of what is going on with the financial crisis"
Where are the links? I'd like to see them. No doubt lending to people with poor credit scores was a problem. Actually, a big part of the problem was people in general over spending and credit lending companies continuing to lend to them. The government was asleep and it just kept going.
Gramm Leach Bliley removed the protective barriers between the financial services industry and banking allowing these places to compete. Democrats are responsible for this deregulation as well but it was the free market fundamentalists that drove it. With these barriers gone, we see the cascade effect of today.
That 1999 bill, combined with the greed of Wall Street and the idiocy of the populace, brought us to where we are today.
What I can't figure out in regards to Fannie and Freddie is what Rick Davies, McCain's campaign manager, was doing for 30K a month for five years for an advocacy group set up by them. The Times says it was to defend them against stricter regulations.
http://www.nytimes.com/2008/09/22/us/politics/22mccain.html
How does that jibe with the assertions by the right that Fannie and Freddie and government quotas caused all of this?
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