Who do you trust more to address the current US financial crisis, Democrats or Republicans?
In other words, Obama or McCain?
See this, from Wikipedia:
"In 1999, McCain voted for the Gramm-Leach-Bliley Act, which passed in the Senate by a vote of 54-44. The deregulation bill loosened restrictions on the activities of banks, brokerage houses, and insurance companies. In 2002 he voted for the Sarbanes-Oxley Act, which passed the Senate without opposition. In 2007, however, McCain stated that he regretted his vote in favor of Sarbanes-Oxley, which strengthened financial reporting requirements for publicly held companies but which has been the subject of complaints from businesses.
"In 2008, McCain expressed approval of the results of financial deregulation by pointing to it as a model for health care policy, writing: "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."
"Later in 2008, in the wake of the widely publicized crises involving the insurance company American International Group and the brokerage houses Lehman Brothers and Merrill Lynch, McCain stated: "In my administration, we're going to hold people on Wall Street responsible. And we're going to enact and enforce reforms to make sure that these outrages never happen in the first place.""
Note, the two main sponsors of the Gramm-Leach-Bliley bill were Republican: Gramm in the Senate, Leach in the House. Dems passed it, too, and helped make it veto proof, and Clinton thereby signed it into law, but look where it originated.
Also, check this. McCain's 2008 comments supporting deregulation:
I think it's especially notable here that McCain is attempting to criticize Obama for supporting regulation. Note what McCain says at 0:24, "Everything he [Obama] has supported is bigger government, more regulation," and then again toward the end of the clips when he sweepingly criticizes regulation.
So, who are you gonna vote for?
- Bob PLv 71 decade agoFavorite Answer
You left this out:
Barack Obama and Joe Biden voted for the bridge to nowhere. A travesty in out economy.
John McCain voted no for the bridge to nowhere.
Barack Obama has changed his position on campaign financing, Iraq, FISA, oil drilling and immigration reform.
And guess what - John McCain has changed his position on a number of different occasions.
- clapLv 43 years ago
The Gramm-Leach-Bliley bill isn't in charge for the present mess. it truly is the Democrats who crafted the made over CRA, which compelled lenders to make risky loans to human beings, and the Democrats who prevented Bush and the Republicans from addressing the transforming into problems interior the subprime very own loan markets in 2003 and 2005. easily, the banking residences that have been able to diversify their operations like the Gramm bill allowed are people who're no longer in hardship. It wasn't deregulation it truly is at the back of our present day problems, yet in Democrat interference and mismanagement. in basic terms a fool might vote Democrat for his or her financial regulations.