The Corner

Re: McCain the Regulator

I’m with Ramesh. McCain had a better record of deregulation in the mid 1990s, I guess. But for the last decade he’s been walking and talking the Teddy Roosevelt talk. 

What I don’t  understand is why McCain is making this primarily about Wall Street (though I’m not saying Wall Street should get off scot free, rhetorically, politically or otherwise). Isn’t this Wall Street crisis ultimately a byproduct of the mortgage crisis, and isn’t the mortgage crisis ultimately more in Fannie and Freddie’s column? And isn’t that a much more natural target for McCain’s wrath. Denouncing the “greed” of investors strikes me as silly. Denouncing the greed of a Washington political class that allowed this to happen is not only fair game, but totally in McCain-the-reformer’s wheelhouse. 

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