Can McCain weather this too?

McCain makes a turn to embracing regulation
A decade ago, he champion deregulation of banking, insurance


Deregulating banking industry
In 2002, McCain introduced a bill to deregulate the broadband Internet market, warning that "the potential for government interference with market forces is not limited to federal regulation." Three years earlier, McCain had joined with other Republicans to push through landmark legislation sponsored by then-Sen. Phil Gramm (Tex.), who is now an economic adviser to his campaign. The Gramm-Leach-Bliley Act aimed to make the country's financial institutions competitive by removing the Depression-era walls between banking, investment and insurance companies.

That bill allowed AIG to participate in the gold rush of a rapidly expanding global banking and investment market. But the legislation also helped pave the way for companies such as AIG and Lehman Brothers to become behemoths laden with bad loans and investments.

McCain now condemns the executives at those companies for pursuing the ambitions that the Gramm-Leach-Bliley Act made possible, saying that "in an endless quest for easy money, they dreamed up investment schemes that they themselves don't even understand."


http://www.msnbc.msn.com/id/26749280/


If we are this dumb to vote this man in to office at this time, after this mess ... we deserve everything we get. Hopefully this story is all over the press tonight.

Jugo - creative word pictures +2

"Greed is good." - Gordon Gekko, Wall Street.

Whoever wrote that article clearly knows as much as bman about what's causing all this..... which is chit.

cardinal5150 wrote:Whoever wrote that article clearly knows as much as bman about what's causing all this..... which is chit.

Same old shit from Card ... he knows more than the experts.

Bman wrote:

cardinal5150 wrote:Whoever wrote that article clearly knows as much as bman about what's causing all this..... which is chit.

Same old shit from Card ... he knows more than the experts.

Looks like to me he stated the author of the article (Michael D. Shear).

"Staff writers Robert Barnes and Anne E. Kornblut and political researcher Alice Crites contributed to this report."

So are you saying Mike, Bob, Anne & Alice are experts?

Oh I see, they work for msnbc.

LTRT wrote:

Bman wrote:

cardinal5150 wrote:Whoever wrote that article clearly knows as much as bman about what's causing all this..... which is chit.

Same old shit from Card ... he knows more than the experts.

Looks like to me he stated the author of the article (Michael D. Shear).

"Staff writers Robert Barnes and Anne E. Kornblut and political researcher Alice Crites contributed to this report."

So are you saying Mike, Bob, Anne & Alice are experts?

Oh I see, they work for msnbc.

Truth hurts kinda huh? Your man is responsible for this mess and now he is trying to flip flop his way back to being a regulator. You can't have it both ways ... him and Phil Gramm supported dereg of the insurance and banking industries back in the late 90's early 2000's along with telecom degreg and now McCain is suddenly a REGULATOR.

If you like getting fucked over by this dude then vote for him. He has screwed you royally lately and will continue too. Who is the real John McCain?

Bman wrote:Your man is responsible for this mess and now he is trying to flip flop his way back to being a regulator. You can't have it both ways ... him and Phil Gramm supported dereg of the insurance and banking industries back in the late 90's early 2000's along with telecom degreg and now McCain is suddenly a REGULATOR.

If you like getting fucked over by this dude then vote for him. He has screwed you royally lately and will continue too. Who is the real John McCain?

THANKS for the joke of the day.

LTRT wrote:

Bman wrote:Your man is responsible for this mess and now he is trying to flip flop his way back to being a regulator. You can't have it both ways ... him and Phil Gramm supported dereg of the insurance and banking industries back in the late 90's early 2000's along with telecom degreg and now McCain is suddenly a REGULATOR.

If you like getting fucked over by this dude then vote for him. He has screwed you royally lately and will continue too. Who is the real John McCain?

THANKS for the joke of the day.

So a stock market crash caused by the conservatives is the joke of the day! I find this hilarious.

I simply can't wait till November 4th.

Bman wrote:
So a stock market crash caused by the conservatives is the joke of the day! I find this hilarious.

I simply can't wait till November 4th.

And apparently you know more than every person on CNBC as NO ONE mentioned a stock market crash yesterday... apparently they were watching a different market than you.

cardinal5150 wrote:

Bman wrote:
So a stock market crash caused by the conservatives is the joke of the day! I find this hilarious.

I simply can't wait till November 4th.

And apparently you know more than every person on CNBC as NO ONE mentioned a stock market crash yesterday... apparently they were watching a different market than you.

I call having the economy lose over $1 Trillion in value in 3 days a crash ... most typical americans do. You, Cramer and John McCain can keep trying to float that crazy idea that this economy is strong but we aren't biting. McCain is in trouble.

Bman wrote:... most typical americans do.

Shouldn't that be BHO supporters?

LTRT wrote:

Bman wrote:... most typical americans do.

Shouldn't that be BHO supporters?

Glad to know you are comfortable with the economy losing almost $1T in value in 3 days.

Like I have said repeatedly ... if you and your family are better off today than you were 4 years ago then by all means ... BY ALL MEANS vote for Bush44.

lol.. thank you bman for admitting you clearly know exactly jack shit about the economy, at best. Seriously, I think we could get Gimme in here to make more intelligent statements about the economy than you, and you actually have a degree... in Accounting.... right?

The dow fell, what, less than 5% yesterday? Black Monday saw the market drop what, over 20%? Are you even smart enough to realize that a 500 pt drop when the market is around 2,000 pts isn't nearly as big of a deal when the market is around 11,000 pts. Seriously, it doesn't take anyone with any sort of advanced schooling to realize there's a HUUUUUGE difference there.

Go get a book and educate yourself on the market before you make an even bigger ass out of yourself (if that's possible).

I'll go for Bush44 over Wright1 anyday.

cardinal5150 wrote:lol.. thank you bman for admitting you clearly know exactly jack shit about the economy, at best. Seriously, I think we could get Gimme in here to make more intelligent statements about the economy than you, and you actually have a degree... in Accounting.... right?

The dow fell, what, less than 5% yesterday? Black Monday saw the market drop what, over 20%? Are you even smart enough to realize that a 500 pt drop when the market is around 2,000 pts isn't nearly as big of a deal when the market is around 11,000 pts. Seriously, it doesn't take anyone with any sort of advanced schooling to realize there's a HUUUUUGE difference there.

Go get a book and educate yourself on the market before you make an even bigger ass out of yourself (if that's possible).

I'll go for Bush44 over Wright1 anyday.

We have lost a TRILLION dollars this week thanks to deregulation supported by John McCain and his economic advisor Phill Gramm ... those are facts. Gloss it over however it gets your rocks off but 80%+ of the American public thinks this country is on the wrong path. Your lame ass talk about comparing this drop to any other drop does not fly with those 80%, this country is in a melt down. You probably agree with McCain this economy is strong ... well that line does not sell on Main Street in Peoria or Fort Wayne.

Great clip FF!

Bman wrote:We have lost a TRILLION dollars this week thanks to deregulation supported by John McCain and his economic advisor Phill Gramm ... those are facts. Gloss it over however it gets your rocks off but 80%+ of the American public thinks this country is on the wrong path. Your lame ass talk about comparing this drop to any other drop does not fly with those 80%, this country is in a melt down. You probably agree with McCain this economy is strong ... well that line does not sell on Main Street in Peoria or Fort Wayne.

So the dow is back up today (some 455 pts), and unless my fuzzy Bman Math is wrong, we made a half a trillion dollars in ONE DAY (still down half a trillion for the week, I guess)....

Sooooo...who gets the credit for making back half a trillion dollars today??? Maybe that person should be president?

Amazing... Paulson (Treasury Secretary) came out with a possible solution to help stem the mortgage problem and the market rallies 400+ pts (4.3%). Wow.. we must be in an incredible economic boom period since according to bman 400 pts down is enough to call it a debacle.

Like I said.. the market is huge now.. a 400 pt swing in the dow any given day is nothing to get your knickers in a bunch about. The market is volatile.. things will continue to change dramatically off news like Paulson's RTC plan for a while. The fact that people like Leno and the NY Times are starting to comment on the market is a good sign we're at the bottom or close to it.

Charley Schumer is also proposing a plan that is essentially the same thing shortly after Paulson's plan was announced, some slight differences.

Today was a great day for anyone who bought some of the financials in the past couple days... I know I'm going to have a beer tonight to celebrate.