McCain on banking and health care -- you won't believe how badly McCain's screwed up this time... (emphasis mine)
OK, a correspondent directs me to John McCain's article, Better Health Care at Lower Cost for Every American, in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries. You might want to be seated before reading this.
Here's what McCain has to say about the wonders of market-based health reform:
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.
So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago -- and promising that if we marketize health care, it will perform as well as the financial industry!
Amazing. John McCain praises banking deregulation and promises to do the same to health care, and very recently wrote an article where he took credit for the last decade of banking deregulation -- the same deregulation that caused the very economic crisis he's now blaming the "Washington establishment" for causing.
He takes credit for the deregulation he's pledging to fix! Of course he wrote the article before the recent meltdown exposed the extent of the financial woes facing the American people, which explains his flip-flop -- but look at how blatantly and easily John McCain spins and lies to the American public.
One minute he boasts proudly of having deregulated banking, and the next minute he's promising to put an end to the very practices he's just finished bragging about!
Obama nails it:
Update Monday, Spetember 22, 2008:
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