Reply #49: “This is what happens when you confuse the free market with a free license to let special interests [View All]

[flpoljunkie]

take whatever they can get, however they can get it.” - Barack Obama

McCain has actually called himself a 'deregulator'--fitting for someone whose chief financial advisor is responsible for the current mess on Wall Street--none other than Phil Gramm.

From TPM's Josh Marshall...

09.15.08 -- 10:45PM
By Josh Marshall

Let me get this straight. John McCain's top economic advisor, former Sen. Phil Gramm, is the guy who authored the deregulation law that most agree is the ultimate cause of today's financial meltdown. Tomorrow's and probably next week's too. But let's not get ahead of ourselves. John Thain, CEO of Merrill Lynch, which swirled into brokerage oblivion today, is one of McCain's top economic advisors too. And now McCain says he's going to clean up the mess by putting in tighter regulations and oversight even though he's always supported lax oversight and his top economics guy is the one who loosened the rules in the first place.

http://talkingpointsmemo.com/archives/217149.php