Obama's treating the financial crisis as an issue of policy. McCain's treating it as abusive behavior.
Can John McCain answer the questions and stop telling stories.
How many times did Mc Cain use the phrase "OUT OF CONTROL"
The financial crisis should be a matter of policy as it predetermines our relationships with countries all over the world. Granted it might have been from abusive behavior but look who was in power when it started. Finances are a policy of every American when they have to budget their money every month so why not it be for the American people?
Policy is one thing. How to execute it is another. Today's Wall Street failure is due to abusive practice within the law till FBI lets us know what happened.
I have to say Senator McCain is right on this one.
Policy is great for academic discussion, but in practice there are many loop holes in the way of good policies.
If McCain is treating it as abusive behavior, it's an argument his loses. He's the one that's been in Washington for 26 years and was oblivious to the 'abusive behavior', even to the point of criminality in the Keating 5 bailout that got his longtime friend in the first S&L bailout off the hook.
Meanwhile, he also remains oblivious of his own abusive behavior that comes off to the rest of us as utterly clueless. Like when he erupted like a volcano the other day and said he would deal with the crisis by firing SEC chair Chris Cox, while making a fool out of himself since presidents don't have the power to fire the SEC and Cox has been a GOP fiscal conservative stalwart.
Obama is far more accurate here since the abusive behavior was a direct consequence of bad policy. The Randian 'deregulation at all costs' ethos and the accompanying policies of 'less government, free the market' republicans like McFossil are precisely what allowed 'abusive behavior' from companies like Enron to the financial institutions behind the present housing crisis to game the system at the expense of the little guy. Is McBlame really implying that he thinks we should just trust that big business and Wall street should be recognized as well meaning altruists capable of policing themselves and that it was only a few bad apples that got too greedy? Then how do you account for complicity that was unanimous across entire industries? If you feed them, they will come. To think otherwise is just McLame.
John was right on topic tonight and Obama demonstrated his hollow candidacy and glaring lack of experience.