John McCain calls for greater deregulation of financial markets -- March 25, 2008-----------------------------------------------\n\nLots of people had drunk the Kool Aid about deregulation in that era.\n\nNow, the savings and loan debacle taught a whole lot of people that was an error, but it didn\'t teach that to Senator McCain. Instead, he instinctively goes toward greater deregulation.\n\n\"While I was traveling overseas, our financial markets experienced another, unfortunately, another round of upheavel.\"\n\nHis reaction to the sub-prime crisis that we\'re going through now, which is unquestionably a product of deregulation, was to recommend in his first speech that we should have further deregulation.\n\n\"Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital.\"\n\nHe\'s said that he doesn\'t know much about economics as his key advisor in economics is Phil Graham. Phil Graham is more responsible that anyone in Washington in terms of pushing deregulation and non-regulation and to make fun of the victims.\"You\'ve heard of mental depression? This is mental a recession. You just hear this constant whining, complaining... we\'ve sort of become a nation of whiners.\"\n\nHe\'s picked the worst possible source of advice. Well, if you can\'t even get the Charles Keatings\' of the world right, you just don\'t havethat judgment factor in terms of your key advisors.\n\n\n. deregulation, graham, keating, mccain, obama, palin, whiners