That's Weak, Mr. Senator

This blog (or most of it) wasn't written by me. It was written by my dad. I've added some links to articles and comments in italics, but otherwise the wisdom you see here is his. Thanks D! Enjoy!

John needs to nap a little more.

As John McCain speaks out on more reform in Washington DC, he is now going to put in “new” regulations to protect us from the financial abuses that has led to the recent financial meltdown. The Senator is on top on his game. Here is a quote from a speech today (September 16, 2008):

“Americans put a lot of trust in the bankers and brokerage firms of Wall Street. They depend on the financial service sector to protect their savings, IRA's, 401k's, and pension accounts. But many leaders in finance have proven unworthy of that trust. Government has a clear responsibility to act in defense of the public interests, and that is exactly what I intend to do. We are going to make sure that American's accounts are protected. I pledge that FDIC and SPIC will have all the support they need to fully back the savings of the American people.”

(Here is a link to the rest of the speech)

A couple of problems here John.

1) It is SIPC not SPIC and either way they are NOT regulators they are INSURERS! Palin may not know what the Bush Doctrine is, but even she knows it is SIPC (I hope). BTW, he said SPIC in three different speeches today.

(Also, SPIC is an ethnic slur used for a person of Hispanic descent. Although I doubt McCain meant it that way, it makes the speech more interesting... AND I doubt if Palin knows what SIPC is.)

2) John, you have been in Washington for how many years? Were you not there when the regulations were taken apart? Isn’t Phil Gramm still one of your top advisors? You know the Phil Gramm that led the charge to remove most of the depression era Glass-Steagall Act regulations that were SPECIFICALLY designed to prevent the types of abuses we are experiencing now. Senators, how did you vote:

a. McCain – Yea
b. Biden - Nay
c. Feingold – Nay (Just had to throw a little bone to the fine Wisconsin Senator)

Scarily enough, McCain has hinted that Gramm might become the Treasury secretary if elected. Ewww!!

These two articles talk about McCain's flip-flop on the regulation of Wall Street:
http://www.politico.com/news/stories/0308/9246.html
http://www.msnbc.msn.com/id/26749280/

Also scary, this quote from John McCain in March, "I'm always for less regulation." AND "I'd like to see a lot of the unnecessary government regulations eliminated."

We are in SO much trouble if this man is elected!!