Now John McCain is all about holding Wall Street accountable.  Isn’t that funny?  I mean, knee slapping, laughing until you start coughing up a friggin’ lung, hilarious?

When John Kerry said that John McCain better finish the debate with himself before he even thinks about debating Barack Obama, he couldn’t have spoken anything more true.  The man who said that the economy made great progress under Bush, and who said that the fundamentals of the economy were still strong as of MONDAY, the man who once called himself a “deregulator,” is now all of a sudden talking about holding Wall Street accountable?

From WaPo:

McCain hopes to tap into anger among voters who are looking for someone to blame for the economic meltdown that threatens their home values, bank accounts and 401(k) plans. But his past support of congressional deregulation efforts and his arguments against “government interference” in the free market by federal, state and local officials have given Sen. Barack Obama an opening to press the advantage Democrats traditionally have in times of economic trouble.

In 2002, McCain introduced a bill to deregulate the broadband Internet market, warning that “the potential for government interference with market forces is not limited to federal regulation.” Three years earlier, McCain had joined with other Republicans to push through landmark legislation sponsored by then-Sen. Phil Gramm (Tex.), who is now an economic adviser to his campaign. The Gramm-Leach-Bliley Act aimed to make the country’s financial institutions competitive by removing the Depression-era walls between banking, investment and insurance companies.

That bill allowed AIG to participate in the gold rush of a rapidly expanding global banking and investment market. But the legislation also helped pave the way for companies such as AIG and Lehman Brothers to become behemoths laden with bad loans and investments.

McCain now condemns the executives at those companies for pursuing the ambitions that the Gramm-Leach-Bliley Act made possible, saying that “in an endless quest for easy money, they dreamed up investment schemes that they themselves don’t even understand.”

So, just to be clear, McCain would have us believe that he is now crusading against the very economic dynamics that he VOTED for and were authored in part by his current ECONOMIC ADVISOR.  And keep in mind, this whole turnabout happened in, well, a day.

In one day, John McCain abandoned every economic principle he subscribed to.  This should be pretty easy for him, though, considering that he also abandoned his principle on Roe v Wade (he once said that if Roe v Wade was overturned, the next day young girls would be performing dangerous procedures on themselves), he abandoned his principle regarding the Religious Right (would believe he once called those folks “agents of intolerance”?), he abandoned his principle on torture (I know, once he stood firmly against the US torturing people, right up until he voted against a measure that would have barred the CIA from torturing), and so on and so forth.

Indeed, it’s no wonder McCain could engage in such a stupendous flip flop over the course of a day; he’s had an awful lot of practice over the past year and a half!

One Response to “Flippity-Flop”

  1. Angellight says:

    After being exposed for Lying, McCain is now Engaging in Identity Theft — as he is now sounding more like Barack every day — Change we can believe in, Enough is Enough and now Regulation! Maybe he thinks he can lie, steal and cheat his way to the Presidency. After all its been done before!

    Yesterday McCain said we needed a 911 Commission-like study to investigate our failing economy, however, yesterday in his speech in Colorado Barack hit back at McCain with “Instead of offering up concrete plans to solve these issues, 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 – this isn’t 9/11.” Barack went on to elaborate — we know how we have got here, and what we need is Leadership!” This shows a distinct contrast from a Party with no new ideas and failed policies to Barack, who does have ideas and who is ready to lead!

    I quess there is a light at the end of the tunnel because Five Conservative writers have now come forward to speak out and tell the truth that Sarah Palin is not qualified and is not experienced to lead as Vice President or the Presidency. They are making it clear to the public that John McCain made a poor judgment call, a rash judgment and an unneeded risk when times are bad and in a crisis mode. As a gambler, McCain should know you never take an unneeded risk in a crisis when things are already shaky. Enough is Enough! The American people will not reward a dishonorale and immoral man to the top job in the land, someone they cannot have confidence in. A Wizard as in Oz, who blusters and pretends but has no real solutions. American people want someone they can trust and believe in. They want a renewed Government working and looking out for them again, not just corporations and Fat Cats — Giving welfare bailouts and support to Corporations and none to everyday Americans.
    So you got your guns, but you can’t afford to pay your mortgage? We have to get rid of that mentallity and embrace unity and change for all. Look, there is a message in Ground Zero — that afer 7 years, it is still a dark hole. This is is a symbol of the failed polices of Republicans, that after 7 years, Ground Zero is still a hole, left desolate and it speaks volumes that we are a country unable to find leadership, unable to unite and unable to rebuild and show ourselves and the world that we know how to overcome adversary, yet trillions of dollars go daily to Iraq, to allegedly rebuild a country which should never have been invaded in the first place. Talk about selling someone the Yellow Brick Road, I mean OIL! Because continued Drilling is not going to end our addiction, it is a band aid. We need 21st Century ideas and innovations, we need Intelligence instead of experience. We need the intellectual capacity of someone who can see the way forward when it is dark and to lead us out of the dark and into the light. We need a Rudolph whose nose was so bright, only he could lead the way from darkness to light and from the unreal to the real.


  1. MCCAIN CAUGHT IN ANOTHER LIE | Comments from Left Field - [...] let’s forget that John McCain supported the legislation that allowed all of this to come about in the first…

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