Anonymous Liberal manages to pretty much sum up my feelings about McCain’s economic thinking and trillion dollar bailouts for investment bankers in one post. So I’ll just excerpt it in its entirety:
In a rational universe, this single paragraph would be the nail in the coffin of John McCain’s candidacy:
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.
That comes from a column in this month’s Contingencies magazine. The author: John McCain.
Think about what he’s saying here. He’s praising the deregulation of the banking industry over the last decade, specifically the way it led to a lot of “innovative products.” Like mortgage-backed securities? Yep, that’s worked out pretty well, Senator. Bang up job. We should definitely bring that same approach to health care.
UPDATE: Then again, if we bring the same approach to health care that we brought to the banking industry, maybe in eight years or so, our health care system will completely collapse and the government will have to step in and take over. Voila! A national health care system. Brilliant.