Saturday, September 27, 2008

McCain defends deregulation of Wall Street!

In last night's debate, John McCain called for more regulation and oversight of Wall Street, despite the fact that he led the effort to pass many of the deregulatory reforms that led to the current crisis.

Interviewed on CBS only a few days before the debate, however, McCain said he did not“regret” championing the deregulation of Wall Street, that it was good for the economy:

Q: In 1999, you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?

McCAIN: No. I think the deregulation was probably helpful to the growth of our economy.

Watch it:

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