It’s hard to take McCain seriously when he talks about reform and economic policy, especially in reference to the current housing and financial crises that we are facing. Is he unaware that these crises can be blamed almost completely on legislation sponsored in part by his former campaign co-chair and economic advisor, Phil Gramm?
Phil Gramm, one of the geniuses who brought us the Enron Loophole and the Gramm-Leach-Bliley Act*, which gutted the protections provided by the Glass-Steagall Act from nineteen-thirty-whatever . . . hmmm, what was that event called that the Glass-Steagall Act was a response to, and supposed to help prevent from happening again? It’s on the tip of my tongue . . . rhymes with “fate regression” . . . oh well, I’ll figure it out at some point.
Thank you, John McCain. Thank you Phil Gramm. And thank you to whichever party has been in power for the past 8 years for allowing these crises to keep building, providing us all with a deep fisting by the invisible hand of the market. If it weren’t for your awesome work, we would not have the stellar performances demonstrated by great corporations like Enron, Lehman Brothers, Merrill Lynch, Tyco and WorldCom.
*Yes, I am aware that then-President Bill Clinton, a Democrat, was the Idiot In Chief who signed off on this. I shall forever remember him as the president of blowjobs and bailouts.
UPDATE, end of day(ish): Wow, what a day. It’s a good thing the “fundamentals of our economy are strong”. I’d hate to see what McCain considers a bad economy. I think it’s time to invest a few more dollars in hope with a donation to Obama. It’s not like my money will be worth anything if McCain wins.