needs to smack John McCain upside the head - HARD.
Mr. Deregulation - from the S&L mess right up through Phil Gramm's ramming through of the investment bank rules loosening - now wants to claim he's John Q. Oversight McRegulate?
Give. Me. a. Break.
You want to change your position? Fine - but let's not pretend that for 26 years you were on the damn opposite side of this equation.
Obama needs to quit saying he "doesn't fault John McCain" -- because John McCain and Republicans like him are PRECISELY at fault. These are exactly the jackals who insisted that unfettered market would correct itself.
Well, it didn't. It didn't and now we're dumping trillions into nationalizing the companies that the Grammies insisted should be allowed to police themselves.
Nail to that liar's forehead -- this is YOUR mess, John. You helped create it.
We're hitting day 2 of not just McCain, but even his campaign and surrogates just utterly stumbling around. Fiorina, McCain himself, Romney -- I have yet to see a single McCain surrogate that has done anything but make this mess worse for them.
What's more, Obama has been pitch perfect the last 2 days -- I think his belittling of McCain's "9/11 commission" crap today was perfect; he finally made a point with a perfect soundbite.
Right - but I actually haven't seen how big a millstone that financial services arm is to AIG.
Not that I know what I'm talking about, but it seems to that what could come out of all this is a really ugly twofer.
The investment banks tanking over these big bundles of subprime crap are just the first domino. These types of bundled securities draw large institutional investors... hedge funds... pension funds... and insurance companies.
I confess to not knowing the rules regarding one subsidiary being heavily leveraged into financial products hawked by another subsidiary under the same parent -- but the ugly truth here might well be the insurance divisions are going to see their own health jeopardized as much by their own investments as the illness affecting the parent.
chronicles the great mysteries of the 2008 campaign, I think how exactly it is that Fiorina became recognized as an economic expert should be atop that list.
She was a disaster at HP- typical of the crap 'marketing experts' that Wall Street for some reason thinks are best suited to run what are fundamentally technology-based companies.
She's the omnipresent liberal arts grad wanderer (philosophy/medieval history BA) who then went the typical "I'm in marketing!!!" corporate route for all such people who can't get real jobs, then proceeded to the typical MBA and climb the managerial ladder route.
How in God's name that makes her an expert is beyond me.