Deregulation and McCain

I honestly couldn't agree more with this article.  It's just another attempt at "trickle-down" economics.  Unfortunately, helping corporations does not "trickle-down" to the people.  The money goes to crazy CEO salaries and overseas investments, and the poor and middle-class end up paying for bailouts when the corporations do go belly-up.  McCain has been behind two of the most shameful acts against the middle class in recent memory:

John McCain's affinity for supporting the deregulation of major industries puts him in league with the worlds most notorious corporate criminals. Deregulation is the tool of the super rich corporate criminal class, and John McCain is their poster child.
First McCain supported deregulation of the Savings and Loan industry. All the while accepting lavish gifts and trips on private jets from Charles Keating who would benefit directly form the legislation.  This led to rampant theft of customer savings. The Savings and Loan industry then crashed costing the American taxpayers $30 Billion. McCain was indicted for corruption and Keating went to prison.
Then McCain followed that mess with deregulation of the energy industry. This created kaos in the energy markets, the Enron scandal, and cost rate payers across the country $20 billion in manipulated energy costs.  Within a year all competition for gas and oil was gone and prices began rising. Further deregulation of the energy commodities market closed the deal. Now the giant energy conglomerates could own the gas stations, the oil rigs, the refineries, and thanks to John McCain, they now could create their own hedge funds to manipulate supply, demand and the financial markets.  A sweet deal for Exxon Mobile who this year raked in more profits than any company in the history of the world, and payed their CEO $500 million in bonuses, while spending less that 2 million to develop new sources of oil from the more than 10 million acres of undeveloped US oil leases Exxon holds.
That was not enough for our hero John McCain. He then supported deregulation of the Mortgage industry which led to rampant lender abuse and the current mortgage crisis. Now with the just passed bailout legislation this will cost taxpayers $150 Billion.
See any pattern here?  The next time you hear John McCain spouting his support for deregulation remember, deregulation is the tool that corporate criminals use to steal tax payer money.  Anyone supporting it is by default either a fool or a con man trying to pick your pockets.

http://www.politicor.com/uncategorized/john-mccain-deregulation-hawk-criminal/

9/17/08 Update:  McCain now claims he will champion regulation.