McCain's answer to the crisis on Wall Street? Appoint a 9/11 type Commission. That's not leadership.

[flpoljunkie]

That's an abdication of responsibility--and an attempt to deflect us from the fact that the deregulation championed and expanded by the Bush administration is the reason for the latest Wall Street failure under Bush's watch--Lehman Brothers.

[ErinBerin84]

1. oh yeah.

the 9/11 Commission was just a fucking smashing success...what a twerp.

[calico1]

2. I don't need a commission to figure out that had

there been tighter regulation this could have been avoided.

[flpoljunkie]

3. As Time's Joe Klein said about Republicans in this recent article, "Their brand is Collapse"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=7074791&mesg_id=7074791

[flpoljunkie]

4. And, this from Talkingpointsmemo on where the fault for this Wall Street crisis lies...

http://tpmcafe.talkingpointsmemo.com/2008/09/14/republicans_and_the_credit_cri/

This seemingly innocuous power point slide from the Securities and Exchange Commission (SEC) was used in June of 2004 to explain to market participants a new ruling on how broker dealers could compute their "net capital". Instead of the previous fixed limits on leverage of 10:1, broker dealers like Lehman Brothers could use their own "internal models" to determine how much leverage they could put on their capital. As we saw with the crash of Bear Stearns and now Lehman Bros., both firms were leveraged more than 30:1.

When you combine this ridiculous willingness to let broker dealers determine their own leverage with the decision three years later to alter the short selling rules to make it easier to short a stock, you have a recipe for financial chaos. These are both Bush administration SEC moves. They stem from a idealogical hatred of regulation. They cannot be blamed on Democrats. This needs to be stated clearly by Obama and Biden.

[nyc 4 Biden]

5. thanks junkie!

I have not heard about this on the msm.

[flpoljunkie]

6. You're welcome, nyc 4 Biden!

[Skwmom]

7. McCain's priority is planning for the OTHER wars he is

going to get this country involved in. He doesn't have time to deal with silly, little domestic issues.

[flpoljunkie]

8. Have you read The Atlantic's cover article on McCain. This paragraph stood out for me...

From "The Wars of John McCain by Jeffrey Goldberg:

In my conversations with McCain, however, he never appeared greatly troubled by his shifts and reversals. It’s not difficult to understand why: tax policy, or health care, or even off-shore oil drilling are for him all matters of mere politics, and politics calls for ideological plasticity. It is only in the realm of national defense, and of American honor—two notions that for McCain are thoroughly entwined—that he becomes truly unbending.

http://www.theatlantic.com/doc/print/200810/mccain

[Median Democrat]

9. Same Response Re Social Security - Another Commission

For a guy who supposedly thinks too much government is the problem, he sure wants to pass the buck to a lot of newly created commissions.