Thursday, September 18, 2008

I'm shocked, shocked to find that gambling is going on in here!

John McCain is "shocked, shocked to find that gambling is going on" . . . on Wall Street.

I'd give the man the benefit of the doubt, if I could figure out with certainty which doubt was better to benefit him.

Is it worse to assume he's being cynical - that, of *course* he knew, while deregulating Wall Street, that Wall Street, financial companies, investment houses were run by greedy speculators that would run any chain the regulatory agencies gave them to the very limit and, if they thought they could get away with it, past those limits.

Or, is it worse to assume he's being honest with us, and it did not *occur* to him that the denizens of Wall Street would, given the lax regulatory environment championed by John McCain, Phil Gramm, and their philosophical contemporaries in the GOP and on K Street, would be grabbing money for all it was worth, and hoping to dodge any consequences as they came?

The man is either a liar that knew Wall Street was run by greedy gamblers that were going to take his deregulation and run for all they were worth (but was ignorant enough to think the positive consequences would outweigh the negative consequences), or he's a fool that thought Wall Street was run by priest and nuns.

I guess I kinda hope he was ignorant about the history of regulation and lying to cover that up - that at least gives the chance he might learn from the mistakes of the past.

You can't cure stupid.

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