Wall Street Journal: "It's Judgment Day For McCain"

[Mister Ed]

The editorial pages of the Wall street Journal have long been one of the greatest bastions of neoconservative dogma. I thought it a startling sign of the times when I read this editorial in the online WSJ today, in which culpability for the financial crisis is laid at the feet of John McCain's cronies and their free-market, de-regulatory philosophy.

It's Judgment Day for McCain

By THOMAS FRANK


Last week, Republican presidential candidate John McCain called for a commission to "find out what went wrong" on Wall Street. It was an excellent suggestion...

...Topic A should be deregulation...And Mr. McCain has a special advantage to bring to any such investigation -- many of the relevant witnesses are friends or colleagues of his. In fact, he can probably get to the bottom of the whole mess just by cross-examining the people riding on his campaign bus...

...The philosophy of government that has dominated Washington for almost three decades is now in ruins, and it is up to Mr. McCain to find out exactly why we believed it in the first place.

Witness No. 1: Phil Gramm, a former adviser to the candidate on economic issues and for many years the heavyweight champion of financial deregulation. It was this very fellow who, as a senator, co-authored the Financial Services Modernization Act, largely trashing the old financial regulatory structure...

More at:
http://online.wsj.com/article/SB122221440058969313.html

[babylonsister]

1. Is this a eulogy? Yikes. nt

[Demeter]

6. Sounds More Like an Indictment

[dweller]

2. Randi Rhodes read this today in full

yes, a eulogy.

dp

[EC]

3. Didn't Rubert Murdock buy the WSJ this past year?

I guess mccain is in deep doo doo if they can't even support him...

[Phredicles]

4. So much for honor among thieves: "It's not our fault - it's totally theirs"

is how it sounds to me.

[Two Americas]

5. exactly

Did you notice how quickly that self-serving weasel Gingrinch turned on a dime?

[quiet.american]

7. I thought I was reading an article from "The Nation" for a moment.

WOW. That's about all I can say.