Thursday, September 25, 2008

A Look Back: John McCain's No "Reformer" (Part One)

As the NY Times revealed this week, John McCain's campaign manager got a check from Freddie Mac until just last month. McCain's campaign is riddled with lobbyists--at least 177 of them, 83 of whom have recently served as lobbyists for Wall St. firms. Some reform! As has been previously noted, Phi, Gramm, chief economic adviser to John McCain, and chief architect of the current crisis (at the last minute he slipped over two hundred pages of deregulation into legislation and gave the Senate no time to read the bill before it came up for a vote). Gramm was also chief architect of the Enron debacle. His effort to inject stealth deregulation mirrored what he did on the Wall St free-for-all bill.

Given John McCain's complicity in the last big banking scandal and bank bailouts, he has amazing gall to peddle the "reformer" label. He's worse than more of the same. Along with Bush, Cheney, Gramm, and a handful of others, John McCain IS the problem.