Why Would You Trust a Life-Long Deregulator to Regulate the Markets?

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I want to reiterate as plainly as possible a point that David and Josh Marshall both made yesterday.

McCain is now responding to the turmoil on Wall Street by saying things like, “We will have transparency and accountability and we will reform the regulatory bodies of government.” American workers, he says, have been “betrayed by a casino on Wall Street of greedy, corrupt excess.”

But why should we trust this guy to bring the proper regulation to the financial industry? Who is he to play the populist? He is a life-long supporter of deregulation, his campaign staffers made millions lobbying for failed lenders, and his top economic adviser, Foreclosure Phil Gramm, helped pass the deregulation that created this mess in the first place.

Update: The NYT mines this vein.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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