Thursday, October 09, 2008

Root Out Corruption on Wall Street? How?

For the past few days I've been looking for the basis of John McCain's assertion that he will "fight corruption" on Wall Street. Sarah Palin took an even harsher line in the debate with Joe Biden, saying she and McCain would “get rid of the greed and corruption on Wall Street.”

Sounds to me like "getting rid of the salt in the oceans" but... whatever. I went to the McCain-Palin website and found nothing. Can someone help me out and point me to specific proposals on how this will be carried out? ProPublica says there there ain't no specific proposals, but I have an open mind.

Barack Obama, for his part, has been flailing away at "eight years of deregulation" under the W. administration. But I think he is being modest. As the New York Times story today on Alan Greenspan (and Wall Street Versus America, I modestly add) point out, deregulation was just as strong under the Clinton administration.

P.S. For the thousands of people who get all their news from this blog: the market collapsed today, and the sky is falling.

© 2008 Gary Weiss. All rights reserved.

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