John McCain’s deregulation policies

Published 9:41 pm Thursday, September 25, 2008

John McCain’s deregulation policies are hurting American families. McCain has spent his long Washington career defending deregulation. Just last month he said he would deregulate the health care industry “as we have done over the last decade in banking.” He would risk the lives and safety of millions of Americans under a system we know is broken. And he’s so out-of-touch he doesn’t even realize these policies are hurting American families.

McCain has a lobbyist problem. One of John McCain’s economic advisers is bank lobbyist and fellow deregulator Phil Gramm. McCain supported Gramm’s legislation that made this banking collapse possible, but amazingly, McCain has kept Gramm among his inner circle. How will John McCain “reform” Washington when he won’t even take on the corrupt lobbyists running his campaign?

Barack Obama supports a strong and responsible recovery. Barack Obama hasn’t taken any money from lobbyists or special interests throughout his campaign. He’s responsible to the American people who own this movement—his recovery plan puts Main Street first, not Wall Street. Barack Obama’s plan also requires that other nations, who have a huge stake in our economy, must join us in helping to secure financial markets.


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Barack Obama’s plan won’t be a blank check. The pressure from some in Washington to bail out failed companies with a blank check isn’t fair to American taxpayers. Barack’s plan includes demands for independent accountability and oversight. His plan will also reform our regulatory structure—the faulty groundwork laid by John McCain’s policies that made this economic crisis possible in the first place.