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Tuesday, October 07, 2008

Obama Corrects McCain's History On Regulation


I was hoping for more of Obama calling out McCain tonight, but he DID punch back several times (Not to mention looking FAR more presidential). . .

Obama: Now I've got to correct a little bit of Senator McCain's history, not surprisingly, but let's first of all understand that the biggest problem in this whole process was the deregulation of the financial system. Senator McCain as recently as March bragged about the fact that he is a deregulator. On the other hand two years ago I said we've got a subprime lending crisis that has to be dealt with, I wrote to Secretary Paulson, I wrote to Federal Reserve Chairman Bernanke and told them this is something we have to deal with and nobody did anything about it. A year ago I went to Wall Street and told them we have to re-regulate, and nothing happened.


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