Think Progress has a post today about John McCain and the years of right-wing economic policies that have created the financial crisis we face today. The mortgage bubble resulted when Fed chief Alan Greenspan kept interest rates at historic lows for way longer than he should have or was needed, and the Republican led government failed to regulate numerous questionable practices in the financial sector.
Today the McCain campaign released a new campaign ad that states, “Our economy in crisis. Only proven reformers John McCain and Sarah Palin can fix it.”
Yet the question the media should ask, what reforms have John McCain and Sarah Palin done in the financial or economic sector.? Considering the number of lobbyists who have represented AIG, Merrill Lynch, Lehman Brothers, and Bank of America on John McCain's campaign staff, how much change can the American public truely expect?
Think Progress notes that on Bloomberg Television this weekend, House Financial Services Committee Chairman Barney Frank noted that, as a leader in the Senate Republican caucus, McCain did nothing for years to deliver reform in the face an impending credit crisis.
Check the video here: