As an "amen" to our previous post on the Wall Street meltdown, Time's Joe Klein has a great piece on the Rethugs' and McMaverick's role in the deregulation of the financial institutions that are collapsing, along with taxpayer investments. The whole "hands off" policies of the conservative Rethug orthodoxy - - one which McMaverick embraces - - toward financial markets are resulting in the current crisis in the financial and housing markets. In fact McMaverick said again today, "the fundamentals of the economy are strong." What planet is 7-house McSame on?
The Rethugs "sold" deregulation over the past 20 years as a benefit to small businesses, when in fact their intended beneficiaries were the major corporations who felt they were chafing under strong environmental and worker safety regulations. The chickens have truly come home to roost, but will the American public know who the perpetrators were?
UPDATE: Dow was down 500 points, biggest single loss since 9/11. Go Rethugs!
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