WP Editorial Board Defends McCain’s Record on Regulation

Obama is mainly responsible for the economic crisis. Congress was bullied and intimidated into setting up the process (Research the Community Redevelopment Act) by community organizers, activist groups and that familiar outfit called ACORN to make loans to unqualified borrowers – subprime mortgages. Barack Obama did a lot of community organizing for ACORN. The Democratic plan of wealth redistribution began as the sub-prime lending era which is now the biggest disaster in economic history of the US. It is as simple as that folks. So what do the Democratic Party and Barack Obama have in store now—another “change” we can count on.

Obama is a liar that we cannot believe in. Really how low can he get?

Jake
why has no one done a story on the fact that we have seen this story before…
Mccain and Keating and deregulation all with a trillion dollar price tag.
and now Mccain and Gramm
who wrote his economic platform after being paid 750,000 dollars just last year for lobbying for these banking and mortgage giants
the same deregulation that got us here.
How can a guy be involved with the lobbyists and people who were at the center of both of these crashes…
and NO ONE is doing a story on it.
McCain has many more times along the campaign trail said he “errs on the side of deregulation” at times calling people who thought there should be regulation were in his words “not following the American way”
somehow that has been skipped ALL of it
including we have not heard KEATIN , the elephant in the room
at all
why?

Odd how the democrat congress’s hands are all over these financial problems. Unemployment has gone from 4.4% to 6.1% since dems took control 2 years ago! A housing crisis, bank failures, wall street panic.

we have seen this story before
the s and l crisis
and the KEATING 5 people!
same issues…same players
including McCain.

Jake
Gramm WROTE the Enron Loophole
so this is how John mcCain fights that?
and deregulation
he asks the guy to lead his economic team and write the policies that will oversee regulation!!!?
what are you talking about
what is the WP talking about!?

McCain was found innocent of any wrongdoing with Keating. Get over it.

Yes, typical mainstream media in the tank for Obama…
Let’s blame the victim of the crime for being violated, and not the criminal who committed the crime…………….
I read one article where the hacker stated how disappointed HE was that after he BROKE THE LAW, he found NOTHING incriminating in the emails regarding Palin………………….

McSame is the biggest liar and cannot be trusted. How in one sentence you will promote deregulation and in the next say that there is a need for oversight from the government. that does not make sense but since it is from Mccain, it is not a real surprise. McEconomy will be the longest and largest Bridge to nowhere. God save America from McPalin.

The Do-nothing senator doesn’t know what to do except raise our taxes and destroy small businesses.
The Do-Nothing Congress admits they don’t know what to do, and they leave to go on vacation.
Obama, Biden, Pelosi, Reid controlling the Gov’t and lecturing us on how to live our lives.
Wake up America.

“We can play the blame game all day long but the fact doesn’t change that McCain’s campiagn team has 83 Lobbyist from Wall Street.”
I guess one should mention that the biggest receivers of money from the failed mortgage insurors are Christopher Dodd and (GASP!), Barack Obama.
McCain’s speech this morning had concrete and sound plans for dealing with the crisis and stopping it from happening again. As in his choice of running mate, once again McCain demonstrates the true values of leadership, experience and personal integrity.
As always, the Obama supporters will call names, smear and omit facts to shore up his candidacy but the shine is coming off his fake emblems and fake concerns.

BO has voted 94 times to raise taxes.
He has to raise taxes to fund all of his wasteful earmarks.
He ranks 2nd among all politicians in the amount of contributions from Fannie and Freddie–in just 4 years.
Just look at his record to determine what kind of president he will be.

di – thanks for the information. can the newsman, PLEASE at least tell us who john mccain has used as his economic advisors? we know obama’s – the same people who were in charge in the 90s. remember? when our money was worth something? and we weren’t doing socialist buyouts of international corporation? wall street has been running on crack with a credit card and so has this country. under the same people – and i will agree with mccain on this one – republican fat cats – except john mccain is one of them.

McCain and four other US senators (known to history as the Keating Five) met with Edwin Gray, then chairman of the FHLBB. McCain had been hesitant to attend but had reportedly been called a “wimp” behind his back by Keating. The message to the FHLBB and Gray from the Keating Five was to lay off Lincoln and cool the investigation. Gray and the FHLBB did not relent but Lincoln stayed in business until 1989 when it collapsed with the rest of the S&L industry. The life savings of more than 20,000 elderly investors disappeared with the failure of Lincoln. Keating went to prison for five years.
Charles Keating was John McCain’s pal. They met in 1981 and Keating dumped $112,000 in the McCain campaign bank accounts between ’82 and ’87. A year before McCain met with the FHLBB regulators, his wife Cindy and her father, according to newspaper reports at the time, invested about $360,000 in one of Keating’s shopping centers. The Arizona Republic reported McCain and his wife and their babysitter took nine trips on Keating’s private jet to the Bahamas to stay at the S&L liar’s decadent Cat Cay resort. The senator didn’t pay Keating back for the plane rides until years later when he was under investigation.

It still doesn’t change the fact that he has 83 lobbyist from Wall Street on his campiagn team.
If McCain wants us to believe he’ll reform Washington then he better start with his campiagn first.

McCain as chairman of the
Commerce Committee should
have known what was
happening on Wall Street.
He didn’t do his job well.
The horse has already bolted
from the stable. McCain’s
economic plan at this hour
after the meltdown is not
going to do anything much.
His 26 years in the Senate
were of no use in preventing
the excesses on Wall Street.

“If McCain wants us to believe he’ll reform Washington then he better start with his campiagn first.”
Get Obama’s advisor list and publish it. Get his birth certificate, his college transcripts, and his thesis. Spend time combing the Annenberg Challenge papers. Explain why he was hired by and worked with a man, Bill Ayers, whom Obama claimed he barely knew.
None of that is a smear. Those are the real facts of the Obama candidacy.
Get Real, Vanessa. Transparency starts at home.

What´s the reformer record of Mr. America community organizer? ´change, change, change´ but nothing done.
Nobama = only words, no facts
Typical demagogue politician

marylou,,
McCain as not found “innocent”….he got a wrist slap and was found to have poor “judgment”…..
he also had the closest ties to keating of any of the five.

And you haven’t answered why McCain has 83 lobbyist from Wall Street on his campiagn team.
He’s bashing them one moment then seeking advice from them the next.
McCain has lost all credibility on the economy; look at the polls.

Barry is a liar.

Why is John McCain’s regulatory record so contradictory? Because his mentor is Phil Gramm.

Old style Chicago politics isn’t going to cut it, we need politicians that will work for the people. Every other word out of his mouth is a lie.

Send the liar back to Chicago to clean up their mess.

Hope doesn’t pay the bills. Come back when you have some accomplishments to speak of. 300 advisers and a teleprompter isn’t what we need.

Bush has full confidence
in the SEC chairman a man
he appointed.
McCain would have said
the same thing too if he
was leading in the polls.
He’s down in the polls
so he wants the SEC honcho
fired.

McCain is a friend of
lobbyists and crooks
and has devoted his
entire senate career
fighting to keep the
government from
restricting their shady
operations.

geevil:
Yes, I think the reason they are so silent on the latest hacking reports regarding the Democratic Rep’s son is because it was obvious from when the hacking was first reported as to which “side” was probably responsible.
I wonder why they’re not following the trail like Woodward and Bernstein did after the Watergate break in?
You’d think they would all want the publicity and the credit for finding the criminal.

Dodd and Obama, 1 and 2 in payoffs received from the failed Fannie Mae. They are part of the problem, not the solution. Hold them accountable.

And as always, Vanessa, you answer nothing about Obama. You sling mud and hope it sticks to the faces of the voters so they won’t notice you’ve got no solutions. Just a promise of higher taxes.
Mud is how we got into the mess. Transparency and clarity of regulatory instruments could have avoided it.
“McCain has lost all credibility on the economy; look at the polls.”
This is one day where the polls are meaningless. Who cares what the pollsters are reproting when the economy is melting and the people most responsible tell us they are going to wait and see?
McCain stepped up with some real straight talk this morning. Obama is hiding out with yet another star studded cast of celebrity advisors until Nancy Pelosi can tell him what to say.
When do you finally GET IT: this is not a game of hoops for street cred. This is not World of Warcraft where you can punch buttons and achieve some egoboo. This is reality and people are losing their homes, the elderly can’t afford the gas to get to the grocery stores and for the first time, we are about to hand students a worse world than our parents handed us.
Get your mind right. Show some honor. Nothing ahead of us right now will be easy. Call it ‘jimmy carter’s sweater’ if that make you feel a bit more smug, but the facts are the facts.

Let’s see -
on LOBBYING – McCain has a rule that no current/registered lobbyists are working for his campaign, and he’s released lists of the paid/volunteer advisers working with him. Obama has no such rule and hasn’t made any list available.
on REGULATION – as WashPost points out, McCain has throughout his career balanced two principles – deregulation is best AND police/minimize significant risks. Obama has … defined some ideas for the future.
on TAXES – McCain’s plan gives everyone tax cuts across all income levels. Obama’s plan selectively raises payroll taxes on incomes over $250K, raise corporate taxes, and raise taxes on small bsuinesses.
on PARTISANSHIP – McCain has consistently shown he will break with his party on significant and controversial legislation. He’s consistently shown an ability to work with Dems to define win-win compromise legislation. Obama hasn’t broken w/the liberal wing on anything and can only point to non-controversial cross-party legislation in the Senate (i.e., was anyone against keeping terrorists from acquiring nuclear weapons)
on REFORM – McCain has shown he understands the process of politics, and is willing to reform it even against his party or his personal interests. Earmarks (none), ethics/lobbying rules, no-bid contracts, restructuring GSEs (like Fannie/Freddie) to avoid political influencing … there’s a lot there. Obama … promises he’ll do something when elected.
For all the rapturous support (some) Dems have for Obama, I really don’t see how you can support his candidacy on anything other than hope and prayers UNLESS you simply want to pay less in taxes at the expense of others, or if you toe so close to the Dem platform that you can’t see anything else.

McCain to middle-class Americans:
I don’t know you, you don’t know me.
McCain to the crooks and the wealthy:
My friends, big tax cuts are coming
your way. I’ll keep the govt out of
your business.

This week:
o Federal crime. Emails hacked. Obama supporters only disappointed that dirt wasn’t found. Guess what? There isn’t any. Palin is a good egg.
o CBC columnist Heather Mallick says Palin’s look is that of a “toned-down porn actress.” husband is Todd a “roughneck,” son Track is “terrified,” and pregnant teenage daughter Bristol is a “pramface,” boyfriend is a ‘ratboy’, her supporters, “white trash”, Alaska as a “frontier state full of drunks and crazy people.” and “Canada’s ugly stepchild”.
Meanwhile, Obama says nothing as usual and goes camping with celebrity advisors until Pelosi sends him instructions while the American economy melts like cheese on a flame-broiled burger.
This isn’t that complicated. We’ve been ripped off and we want
1. Our money back.
Get a clue.

Obama lie please dont say it! Come on he is telling us the truth when he says that as a community Organizer he has more experience to be President then a Governor, or that Ayers is ok, that he is not a racist, I know his book shows that he is, but one of his 300 Advisers wrote that!
One of Obama’s advisers is responsible for the collapse of Fannie mae and walked out with over 90 million dollars!!
Does anyone think that Obama is going to raise taxes on his elitist billionaire friends??
Wake up People and stop being a Drone!!
As far as Palin the illegal act of getting her email the AP should face criminal charges, remeber when someone got a hold of a Democrat email stating to get elected attack the war and troops, get the peope aginst the war, this happened back in 2003, the Dems blew a casket about it being released and no one question the email. Funny is it not, has the Democrat party gotten so bad that corruption is expected from them?

Sorry if that offends you, Jake, but the heads are very important. Without accountability, there is no oversight worth a spit. Too many people walked out too well off for having burgled the economy and it’s time they stood before the dock and found out why we have a country founded on justice. Otherwise, this is the drug policy where the street dealers go to jail and their financiers go to fundraisers for the downtown rescue mission. If the irony of that is lost on you, you need to spend more time with the people Obama claims to be registering.

If you want to go back to Jimmy Carter´s disastrous administration years, then your candidate is obviously Obama.
Mr. America community organizer = smoke

After seeing Obama and McCain this independent voter has made up his mind! Obama is the better choice for our future!
No more lies! Obama 08
Because truth maters and money doesn’t trickle down it gets sucked right out of my pocket!

“the WaPo has actually decided to do some journalism.”

Google this:
John McCain Debates Himself on Supporting Bush
and then watch the video!

Senior advisers Steve Schmidt and Mark McKinnon work for firms that have lobby for Land O’ Lakes, UST Public Affairs, Dell and Fannie Mae.

If you pride yourself in being a so-called ‘de-regulator’, then you are part of the financial meltdown!
No enterprise can function successfully without EFFECTIVE rules/regulations!
Without effective rules/regulations, ANARCHY reigns! among the greedy who are addicted to wealth!
It happened during Reaganomics I, with the Savings and Loan, and McCain Keating Five Corruption Scandal!
De-regulator McCaint saw to removal of legislation that benefited his rich friends, at the expense of the taxpayers.
It is happening during bush-McCaint-Reaganomics II!
And it WILL happen again if there is a McCaint-Reaganomics III; because McCaint is hell bent on continuing the SAME FAILED POLICIES!

“also i am not comfortable with the fact that Obama kept saying – i have to talk to my advisers about the situation.. ”
He was calling Pastor Wright for spiritual guidance.

If you pride yourself in being a so-called ‘de-regulator’, then you are part of the financial meltdown!
No enterprise can function successfully without EFFECTIVE rules/regulations!
Without effective rules/regulations, ANARCHY reigns! among the greedy who are addicted to wealth!
It happened during Reaganomics I, with the Savings and Loan, and McCain Keating Five Corruption Scandal!
De-regulator McCaint saw to removal of legislation that benefited his rich friends, at the expense of the taxpayers.
It is happening during bush-McCaint-Reaganomics II!
And it WOULD happen again if there is a McCaint-Reaganomics III; because McCaint is hell bent on continuing the SAME FAILED ECONOMIC POLICIES of his special interest caregivers!

Media blakcout of Kernellgate???????????

Obama misinforms, misquotes, and misleads…
So, this is supposed to be something new?

“Since 1980, only 1 President has left the White House and left a budget surplus,.. that was Bill Clinton.”

It’s the same thing that’s happening now, as banks fail, and as our housing market collapses. And the people responsible for this new crisis are the ones McCain has surrounded himself with, men like Phil Gramm and his banking lobbyists. He will offer the same kind of deregulatory policies that led to the banking collapse of the early ‘90s.
All of this corporate influence should remind you a bit of a previous tale in the McCain saga, his involvement with the Keating 5. Charles Keating was a sort of mentor of John McCain, donating vast sums of money to his senate campaigns.
Charles Keating helped out Senator McCain a lot in the early part of his career. … Senator McCain was the closest of any of the Keating Five to Charles Keating.
But Keating was in trouble. His company, Lincoln Savings and Loan, was making a lot of risky investments, and the government was investigating.
Keating raised $1.3 million for them. They challenged regulators who were investigating his operations.
So Keating called some of his old pals in the Senate to put a little pressure on the government regulator and get them off his back. McCain accepted.
Lincoln collapsed, leading to a bailout of $2.8 billion in taxpayer money. Keating went to prison for four years.

geevil:
That does appear to be the case….

Where’s the bailout for unemployed/”under”employed/just-plain- poor people who’ve been keeping body and soul together with the credit cards by which the Biden family, among many other “Democratic” frauds, has lived so well?
So much attention to capital, so little to surplus labor.
They had damned well better do something for the poor and near-poor, and be quick about it. Starting with food and ACTUAL medical care would be logical, followed by moveable “green” housing to replace the tent cities sprouting up everywhere.
Otherwise, this electoral-rule-cancelling descent into fascism is NOT going to work out well.

Mack:
re:”best way to cover up the fact that the son of a Democratic Legislator from Tennessee, who has ties to his campaign manager Plouffe, is the one who was hacking Palin’s email account.”
So… Obama is responsible for what someone’s kid does? Really?
Neil Bush was a member of the board of directors of Denver-based Silverado Savings and Loan during the 1980s’ larger Savings and Loan crisis. As his father was Vice President of the United States, his role in Silverado’s failure was a focal point of publicity. According to a piece in Salon, Silverado’s collapse cost taxpayers $1 billion.[2]
The US Office of Thrift Supervision investigated Silverado’s failure and determined that:
Bush had engaged in numerous “breaches of his fiduciary duties involving multiple conflicts of interest.”
Bush was reprimanded by the Office of Thrift Supervision for “multiple conflicts of interest” as a paid director of the S&L, including his approval of $132 million in loans from Silverado to two business partners, Bill Walters and Kenneth Good, Bush, in turn, had received $550,000 in salaries .
Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlemen.
A Republican fundraiser set up a fund to help defer costs Neil incurred in his S&L dealings.
I don’t remember the Bush family paying back anything for Silverado….amazing how when your father is V.P… things go a lil bit easier for you

“McCain was prescient on this issue and called for oversight. Just admit it.”

“Barry will have his plan as soon as they turn on the teleprompter.”
Did anyone see Obama’s press conference today? He CANNOT speak fluidly without a teleprompter! He just read from a speech (that he obviously didn’t write) where he studdered and messed up the entire time. He still hasn’t come up with an economic solution/plan.
When McCain had his conference earlier today, he was obviously more prepared (because he has more experience) and more passionate about finding a solution to this economic crisis than Obama has ever been.
MCAIN/PALIN have my vote!!!
Hey Jake, why haven’t you done a story on the hacking job someone did to Palin?

What has Senator Obama and Senator Biden ever done to demonstrate leadership on the economy? Nothing you say? Well, that’s right.
All we get is hope and change. Senator Obama hopes you buy his hype while change is the only thing that would be left in your pocket after his taxes.

why all this ? john mccain is a fairly conservative republican and always has been . i totally understand his wanting more oversight ,for many reasons ,some good for this country and some just good for himself and the republicans.
he couldnt believe just that his party got so enamored with allowing wall street and the insured banking industry to merge (most of them ,republicans that is, getting rich(er) in the process ) they lost sight of what a conservative is, and i think he never has been anything but ,financially especially.
john mccain ,whatever else he is ,is a real american patriot ,like gw bush sr.
i have never believed either of these men would do knowingly do anything to hurt this country. the keyword there is “knowingly” .
to be ignorant , even while trying their best to make up for lack of understanding might be ok for somethings ,but as chuck rangel pointed out yesterday or the day before ,the presidency of the united states of america is a job tht neither of those 2 (mccain/palin) are ready for.
i am a liberal but i respect the military greatly and both men served with honor. mccain would be a man i could vote for perhaps IF there was not a better man for the country OVERALL as an alternative.
obama isnt perfect ,he isnt that much more appealing to me than any other career politician ,but i really believe he will have the most innovative and energizing agenda between the 2.
i personally could cross any party line for the right candidate though . if the republicans wouldve run condi , i would probably have to vote for her twice! but…not mccain/palin

Barry is consulting his advisor, James Johnson, chairman and chief executive officer of Fannie Mae and managing director with Lehman Brothers.
After he has been told what to say, he´ll come back and read us the teleprompter: ´About de crisis of Wall Street I have to say … mmm …. that CHANGE is the best´

hey jazzman your right family connections help just look at penny pritzger and superior bank,they are paying the feds 460million to keep her from prosicution but i guess its worse that neil bush had to pay 50 thousand.with logic like that i really look forward to obamas accounting methods.

Stephen from Indiana,
“Barry is consulting his advisor, James Johnson, chairman and chief executive officer of Fannie Mae and managing director with Lehman Brothers.”
Duh, that’s WHY the Fed forced Lehman and Fannie out. Republicans are vindictive. They are so vindictive that they crushed companies that so many people invested their life-savings in. Can we say partisan politics have infected thriving businesses AND created some new poor people in the blind pursuit of revenge?
Obama was right. Don’t just get rid of the republican SEC head, throw them all out on their ears. Hard-working Americans deserve so much better than this and Michelle Obama was right. America is a mean and nasty country once the blinders are off.
Obama/Biden 08!

McCain has lost the plot.
Palin is dropping in the
polls.
The convention bounce has
disappeared. Republican
policies have run the
economy to the ground.
Even if he goes to the
gates of Hell and catches
Osama bin Laden, McCain will
lose this election.

TJ
yea Anon is full of it.. the electoral count is the only thing to watch from here till election day

mara
Mccain did that because Obama can be tied to wall st more closely…Obama has more investment lobbyists working for him and has taken more money this year from investment firms… hes just a poltician like everyone else

This was first post I saw defending McCain. Others stated he has always supported deregulation. But this is nothing unusual for John McCain – he does change stances all the time. He seems to go back and forth and depends upon who he speaks with or crowd he addresses. His vote history is for deregulation. Republicans are too.
I am very upset at the Republicans and the stock market crisis!!