So, in an act of FINAL DESPERATION, the McCain Campaign, with no plan and no solutions, unleashes a swift-boat-like smear campaign. The thing is they have miscalculated this time. By trying to scare people about Barak Obama by LYING about his association with Bill Ayers, they have opened up their own can of worms. This is just one.
Take a good look at this man with John McCain:
Ladies and Gentlemen, meet Phil Gramm.
If you don't already know who he is, Phil Gramm is the Texas Senator who is likely more responsible for this present financial crisis than any other single politician. And, he is co-chair of McCain's Campaign. You may recall that in response to the mortgage crisis, Gramm referred US as a "nation of whiners", but this is really not his biggest problem...
You see, in 2000 senator Gramm started the foundation for our present economic crisis when he slipped a provision into a spending bill called the "Commodity Futures Modernization Act". This was the beginning of the very deregulation that allowed credit default swaps. This provision also deregulated the energy trading market. These acts of deregulation are what allowed this crisis to start in the first place. They were put in so corporations could make more money at the expense of the public and resulted in irresponsible loans and futures trading on oil. The trading on the basis of speculation rather than on profit has artificially raised the price of oil well beyond the effects of supply and demand.
As the markets continue to fall after an irresponsible bail out package was approved, you can thank Phil Gramm. And remember, he is one of John McCain's friends, adviser and confident. This is not a loose association; This is a long and intimate relationship that continues to this very day..
So, if McCain wants to to pronounce guilt by association, he really needs to look in the mirror first, if he can possibly see through all the smoke his campaign is blowing as it goes up in flames.....
P.S. If you want some more info about this, read this recent FORBES. COM ARTICLE.