Tuesday, September 23, 2008

McCain's "Contingencies"

John McCain is now in full soap-box mode, loudly calling for strong regulation of Wall Street financial institutions.... the Bush administration's poster-children of "trickle-down" economics.... because of the so-far trillion-dollar bailout caused largely by banking's creative and reckless subprime mortgage lending schemes unhindered by regulation or oversight.

Yet.... McCain's article in the just-released issue of the well-respected actuarial magazine Contingencies contains this gem regarding his proposals for health insurance.... page 30:

"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."

Regardless of what he now says.... just moments ago he wanted to craft our health insurance market on the banking model, with "innovative products," less burdened by state regulation.


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