McCain Embraces Regulation After Many Years of Opposition

[cal04]

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091603732.html?hpid=topnews

A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace that proponents said would result in greater economic growth.

Now, as the Bush administration scrambles to prevent the collapse of the American International Group (AIG), the nation's largest insurance company, and stabilize a tumultuous Wall Street, the Republican presidential nominee is scrambling to recast himself as a champion of regulation to end "reckless conduct, corruption and unbridled greed" on Wall Street.


(snip)
Yesterday, Obama seized on what he called McCain's "newfound support for regulation" and accused his rival of backing "a broken system in Washington that is breaking the American economy."

In a speech in Golden, Colo., Obama blamed the economic crisis on an "economic philosophy" that he said McCain and President Bush supported blindly.

"John McCain has spent decades in Washington supporting financial institutions instead of their customers," he told a crowd of about 2,100 at the Colorado School of Mines. "So let's be clear: What we've seen the last few days is nothing less than the final verdict on an economic philosophy that has completely failed."

[nightrain]

1. McCain is just a damn opportunist. If he thinks it will help

him get elected, he'll change his viewpoint. Slime booger.

[Trajan]

3. Not just an opportunist ....

But a goddamned full fledged hypocrite ....

What a weak spine: discarding his own core principles just because they lead to disaster ....

[anonymous171]

2. Obama needs to attack his character, say that McCain is being an "opportunist"

HIT HIM FOR SWITCHING POSITIONS!

[Pirate Smile]

4. It is so pathetic. McCain is willing to say anything and change any position he has held to win

this election. He stands for nothing.