This is Obama's chance to take away the news cycle from McCain and expose what a fraud he is about his economic approach. McCain suddenly wants to be a reformer. Well, what was he doing all these years in Congress to reform Wall St? Nothing. Obama gives a powerful speech in Golden, CO on the #1 issue in America.
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Download Make no mistake: my opponent is running for four more years of policies that will throw the economy further out of balance. His outrage at Wall Street would be more convincing if he wasn't offering them more tax cuts. His call for fiscal responsibility would be believable if he wasn't for more tax cuts for the wealthiest Americans, and more of a trillion dollar war in Iraq paid for with deficit spending and borrowing from foreign creditors like China. His newfound support for regulation bears no resemblance to his scornful attitude towards oversight and enforcement. John McCain cannot be trusted to reestablish proper oversight of our financial markets for one simple reason: he has shown time and again that he does not believe in it.
They call this the ownership society but what it really means is you're on your own. And we know the results...
And McCain's admitting that conservatism does not work. He has to run away from his own party and his own words to try save himself from the incredible collapse on The Street. America is watching now.
"You are interviewing the greatest free trader you will ever interview, and the greatest deregulator you will ever interview," he said.
We all have to follow rules in our lives, register our cars, get a license to drive, but to McCain---corporations need NO regulations. Well, if AIG goes next---good night now....(Youtube and transcript under the fold)
(ht Heather)
..Make no mistake: my opponent is running for four more years of policies that will throw the economy further out of balance. His outrage at Wall Street would be more convincing if he wasn't offering them more tax cuts. His call for fiscal responsibility would be believable if he wasn't for more tax cuts for the wealthiest Americans, and more of a trillion dollar war in Iraq paid for with deficit spending and borrowing from foreign creditors like China. His newfound support for regulation bears no resemblance to his scornful attitude towards oversight and enforcement. John McCain cannot be trusted to reestablish proper oversight of our financial markets for one simple reason: he has shown time and again that he does not believe in it.
What has happened these last eight years is not some historical anomaly, so we know what to expect if we try these policies for another four. When lobbyists run your campaign, the special interests end up gaming the system. When the White House is hostile to any kind of oversight, corporations cut corners and consumers pay the price. When regulators are chosen for their disdain for regulation and we gut their ability to enforce the law, then the interests of the American people are not protected. It's an ideology that intentionally breeds incompetence in Washington and irresponsibility on Wall Street, and it's time to turn the page.
Just today, Senator McCain offered up the oldest Washington stunt in the book - you pass the buck to a commission to study the problem. But here's the thing ... we know how we got into this mess. What we need now is leadership that gets us out. I'll provide it, John McCain won't, and that's the choice for the American people in this election.
