I don't often bring up economics. It is a topic that, while I do have strong views, can be argued much better by people more educated on this topic than I am.
Sen. McCain is also not well versed on this subject. He has gone as far to admit he is basically clueless on the topic, and would rely on experts like Sen. Phil (shut up you whiners) Gramm for advice.
Unfortunately for us, these are the very same experts who's policies have brought you this banking and investment melt down. Their pro-business anti-regulatory policies created an environment where regulation was crushed, executive pay and bonuses ran in to the tens if not hundreds of millions of dollars a year, and resulted in what amounts to the bankruptcy of at least 4 of the biggest players in the business.
McCain likes to lie and claim that he is an agent of change. He claims that he can make our nation work and correct the mistakes of the last 8 years of Republican rule. The trouble, as stated by Rep. Barney Frank McCain has a history of doing nothing, and change will not just happen, you have to work for it.
So here’s the record – 12 years of Republicans, including John McCain being a committee chairman for much of that period. Zero – zero enactment of any reform. Democrats take power, and in a year and a half, we have passed a bill that did everything the administration asked for, in terms of enhancing the regulatory structure.