Tuesday, September 16, 2008

Then you should have said something . . .

John McCain, economic soothsayer . . . from the Washington Monthly.

Republican presidential candidate John McCain on Tuesday called for a high-level commission to study the current economic crisis and claimed that a corrupt and excessive Wall Street had betrayed American workers. [...]

Appearing Tuesday on the three network morning shows, McCain said there was indeed a financial crisis and that to understand what had caused it, the nation would need a review on the order of the one led by the Sept. 11 commission. [...]

"I warned two years ago that this situation was deteriorating and unacceptable," McCain said on "Good Morning America" on ABC. "And the old-boy network and the corruption in Washington is directly involved and one of the causes of this financial crisis that we're in today. And I know how to fix it and I know how to get things done."
I know you. You're the kid in my class who has the answer to everything, except that you never raise your hand. Or worse, you're the kid in my class who won't stop raising your hand even though you haven't opened a book or offered anything interesting to say. You're the kid in my class who tells me I'm unfair, arrogant, stupid, uppity, too into myself, biased . . . ad naseum, because I asked you to explain or defend some talking-point you repeated verbatim from your Hill internship that, well, you just couldn't. You're the kid in my class who whispers under your breath to your buddy how stupid everyone else or what pussies they are because they don't want to "kick ass" or turn some country into a "parking lot." You're the kid that rolls your eyes when someone else makes a well thought-out point because you don't believe they're entitled to express an opinion. You're the kid whose never had a job yet demands that everyone else get off their ass and go to work and stop looking for a government handout . . . except if you work on Wall Street or the mortgage sector, in which case your services (and house full of expensive toys) are simply too valuable to let disappear. You're the kid that uses the pronoun "we" to describe the current administration's brainless decision-making, as in, "We believe in the free market, not some old USSR five-year plan," even though you have government subsidized loans that allow you to attend college and enjoy numerous government-subsidized benefits that you haven't bothered to learn are, indeed, government subsidized.

If John McCain knows the answers to so much, why won't he tell us what they are? After all, his 30 years in Washington as part of the "old boys" network he now condemns, and his experience as part of government corruption in the Keating 5 scandal certainly qualifies him to know a scam when he sees one.

Better yet, ask Sarah Palin. I'm sure she would more than hold her own in a discussion with Barack Obama and Joe Biden about the causes of our country's economic meltdown and offer numerous creative solutions about how to get out of it.

1 comment:

Rich said...

I hate the blue ribbon commissions just as much as you do but...

McCain said this on the Senate floor in 2006:

"I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16
http://thomas.loc.gov/cgi-bin/query/D?r109:16:./temp/~r109x5lF7c::

He was the only banking committee member to sponsor the bill to reform feddie/frannie.

Of course, he wasn't being advised by the "expert" opinion of Franklin Raines (who did a great job with Fannie), like Obama is now.

Just for the record though, so you don't confuse me for being a closet socialist, I'm against the idea of GSEs or bailing out any Wall Street firm. If anything, this reset on the housing market will actually allow my immediate generation to become home owners because housing prices are no longer soaring to ridiculous levels.