McCain: Deregulation helpful to the growth the economy

McCain is spouting "regulation baby regulation" as the corporate cons decide congress was not in for any more scams.

Regulate baby regulate. I like that.

It grew alright...out of control that is.

He is totally clueless.

Deregulation worked like putting too much air in a baloon too fast. Eventually it blew apart. Deregulation fueled greed in the banking industry. If they had regulated themselves instead of trying to get every buck they could as fast as they could it would have worked well.

Allowing the lobbyists to control regulation legislation like McCain and the GOP have is like asking the fox to guard the henhouse. The fox will eat all the chickens until there are none left even to their own detriment too. When you think in five year plans it's hard to see a collapse ten years down the road. This problem started with Reaganomics and got supersized by the Contract with America crew. George W. Bush's rubber stamp Congress just added the last few straws that broke the camel's back.

yes Colonel- that sort of describes it. Deregulation was supposed to fuel competition. It did! But not in a good way. What it fueled was a weird sort of competition to see who could be stupider with their money. I think the mortgage industry really needed somebody to say, hey, that's crazy, what are you thinking? But because of deregulation, there was nobody there to do that.
The bankers were not capable of regulating themselves. Yeah, there were probably a few guys who thought, this is nuts, it can't work forever. But then Countrywide Financial posts another quarter of unbelievable numbers, and what does your boss say? Hint, he does not say it's a good thing we are not crazy like those guys. No, he says, loosen up your lending rules and start issuing adjustables so we can get some of Countrywide's business. that's the way it worked. A sort of race to the bottom, instead of a race to the top.
Deregulation made it all possible. McCain wants to blame it on greed, and rant about CEOs getting golden parachutes. Carly Fiorina, one of McCain's closest advisors, got a golden parachute of 45 million bucks when Hewlett Packard fired her. Tell Fiorina to give the money back, John. You are just trying to distract everybody from the fact that you always voted for whatever deregulation scheme your buddy Phil Gramm came up with.

The reality is that the American people are not fooled by the distractions. It has not been a good week for McCain.

What little regulation there has been in the last few decades barely chipped away at the massive mountain installed there over the previous 80 years. Sad to see that no one even has looked beyond Reagan's tiny reforms to place blame. An economic downturn and the statists/corporate drones scream for protective regulation/tariffs/bailouts....Yeah history keeps repeating itself and you all wonder why.