He has spent his career as a deregulator:
– “I am a deregulator. I believe in deregulation.” [CNN, 7/13/03]Until his comments today calling for more regulation, it seems that John McCain's solution to an era in which financial deregulation set the stage for federal bailouts, rampant speculation, and reckless lending is ... less regulation.
– “I have a long voting record in support of deregulation.” [St. Petersburg Times, 6/5/03]
"Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital."
-- John McCain, March 25, 2008
Headline of Phoenix Business Journal, Feb. 6, 2008:
McCain points to support of low taxes, less regulation in wake of Super Tuesday wins
Reading McCain's economic agenda and listening to his speech, it appears that the problem with the last eight years is that we haven't seen enough tax breaks for the wealthy, that economic royalism hasn't been pursued with sufficient vigor, and that the middle and working classes haven't been stiffed sufficiently.
McCain wants to extend the Bush tax cuts, which he once opposed as a needless sop to the rich in a time of war.
More on McCain's confused and wavering economic policies: here, here, here