Good timing! McCain on Financial Markets

Just wrote a bit about the financial markets and the Obama stance, checked my inbox and there's an email from John McCain on the same subject. Haven't read it yet, just going to share:

John McCain On The Financial Markets

"This is a result of excess and greed and corruption. And that's exactly what is plaguing Americans today. And we got to fix it and we've got to update our regulatory system." -- John McCain

John McCain On MSNBC's "Morning Joe" (9/16/08):

John McCain: "I was talking about the fundamentals of America, which is the workers, their productivity, their innovation, their incredible performance for many, many years. And what I was saying is and it's clear if you look at my remarks and that is that Wall Street has betrayed us. They've broken the social contract between capitalism and the average citizen and the worker. And workers are paying a very heavy price while a lot of them are not only emerging unscathed but some of them are left with packages of a hundred million dollars or so. This is a result of excess and greed and corruption. And that's exactly what is plaguing Americans today. And we got to fix it and we've got to update our regulatory system. We have to have a 9/11 commission to find out what went wrong and to fix what's going to happen in the future so this never ever happens again. And as president, I guarantee you, it will never happen again."

...

"The first thing you do is you address this issue of the alphabet soup of regulatory agencies. It was designed for the 1930s. Now we have an instantaneous financial system that's global in nature and it's not compartmentalized. Look at the Stock Exchange today as to what it was even 20 or 30 years ago. So you've got to fix that and also, very frankly, people were asleep at the switch. I don't think there's any doubt about that. And then, of course, we have to make sure that everyone's deposit in a bank, that they know it's insured by the FDIC and that they're not in danger of losing that deposit. We've got a confidence crisis here as well as a financial crisis. And finally, again, we've got to make sure that people like Fannie and Freddie, organizations such as Fannie and Freddie, never have the influence again that they had in Washington. You saw it, Joe. The old boy network -- Republicans, Democrats, they had influence with everybody. So therefore, we didn't act to have the sufficient oversight while these organizations grew and grew and became the corrupt institutions that they are today."

Watch John McCain On MSNBC's "Morning Joe"

John McCain On CNN's "American Morning" (9/16/08):

John McCain: "I said two years ago that the Fannie and Freddie thing was a very serious problem and that we had to work on it. And I have always opposed the greed of Wall Street and I know how we can fix this. We have to assure every American that their deposit in a bank is safe. We have to have a 9/11 commission. And we have to fix this alphabet soup of regulatory agencies that's left over from the 1930s. We can come back from this. It's a very tough crisis, and we're the victim of the violation of the social contract between capitalism and the American citizen."

Watch John McCain On CNN's "American Morning"

The economy problems were caused by George Bush... and John McCain

Sure.

I can't believe anyone is dumb enough to believe that.

But they are.

I was just listening to a reporter who's embedded with Barack Obama's campaign share that PRIVATELY the Obama people admit that George Bush and the Republicans didn't cause the problem, that it is a non-political issue, non-party issue. But still they play the blame game so they can dupe the dummies who haven't got a clue how things work and who're looking for a Messiah to save their bacon.

I get so tired of politics sometimes. I'd say it would be really refreshing to have someone just tell it like it is, but they'd never get past first base so we'd never know they were doing so. I know in local politics around my county a politician who speaks straight doesn't last long! People want to have someone to blame and they want someone to tell them it's going to be OK.

Sarah Palin and John McCain are about the two best I've seen yet when it comes to 'straight talk' as McCain tags his way of shooting from the hip. Sarah Palin has gotten where she is partially because she is a straight shooter (in more ways than one!). However, I'm noticing that the handlers are starting to have an affect on her. I hope she'll continue to stick to her guns and not let those guys ruin her. What is SO refreshing about Palin is her lack of Washington, her freshness and honesty. Well, there's a lot of things that are refreshing about Sarah!

Heard today Obama is going to stop trashing so much and start offering solutions. Bet they'll involved MORE government, MORE big brother. I think one of the reasons we have this problem is the government stuck their hands into business and the free market a bit more than they should. From what I understand, those crappy mortgages happened in large part due to the government breathing down their necks about not giving enough low-income loans. I said 'partially' because that's not the only reason. Human nature abhors the potential to ignore easy money, thus greed factored into the equation, too.

Who knows what the right balance between government regulations and free market should be? To me it's clear Obama goes way over the top and if he had his way he'd turn this country into a Socialist one if possible. The Libertarians may have the right idea, but they go a bit too far in a different direction. Not saying the Republicans are always right, but I can live with self-responsibility and less government a whole lot easier than the Democratic version of government and censorship.