McCain's Ties to Wall Street's Collapse

"Now, we should not go back to a very highly regulated economy because the regulators are imperfect. They're only human and what is worse, they are bureaucratic. So you have to find the right kind of balance between allowing the markets to do their work, while recognizing that they are imperfect. You need authorities that keep the market under scrutiny and some degree of control. That's the message that I'm trying to get across."
--George Soros

Listen up. The daddy wants to ask a few questions:

1. Does anyone have any ideas why the MSM (mainstream media) is not connecting presidential candidate John McCain to the present financial crisis in the U.S.?
2. Could it be because they are continuing to give the McCain/Palin a pass just because he was imprisoned and tortured?
3. Could it be because the MSM wants to have a competitive presidential race so as to continue high ratings?
4. Could it be something more practical: In other words, some news producers, anchors, reporters and pundits masquerading as journalist just want to keep their J-O-B?
5. Or could it be all the above?

Today, Sen. Christopher Dodd did blame the crisis on the failure of de-regulation that has been going on since the early 80's but failed to name names and presidential administrations. Could it be because, though this was done primarily during the Republican administrations, democratic administrations (the Clinton administration especially) and powerful democrats were involved as well?

The daddy was able to find an article that connects Sen. McCain to the current financial crisis. It comes from americablog.com:

Tuesday, September 16, 2008
McCain failed to mention his own ties to the Wall Street collapse today

And if Obama fails to make this the central issue and doesn't put McCain on the hook for this meltdown, we can forget about November. This is the issue on everyone's mind so losing control of this debate will hurt badly. Obama must remain ahead on this problem and quit giving McCain a free ride or launching an intellectual debate over McCain's role (though we saw Obama fighting harder later in the day on Monday, and that's good). He's already given up too much, too easily on owning "change" and without a hard move, he's going to lose on the economy as well. This is a Republican problem and McCain is making a move to appear as though he had nothing to do with it.

David Corn, who has had some brilliant articles on the McCain-Gramm links, has another classic out today. Learn more about what McCain failed to explain today when he criticized the Wall Street failures.

If McCain wants to hold someone accountable for the failure in transparency and accountability that led to the current calamity, he should turn to his good friend and adviser, Phil Gramm.

As Mother Jones reported in June, eight years ago, Gramm, then a Republican senator chairing the Senate banking committee, slipped a 262-page bill into a gargantuan, must-pass spending measure. Gramm's legislation, written with the help of financial industry lobbyists, essentially removed newfangled financial products called swaps from any regulation. Credit default swaps are basically insurance policies that cover the losses on investments, and they have been at the heart of the subprime meltdown because they have enabled large financial institutions to turn risky loans into risky securities that could be packaged and sold to other institutions.

Lehman's collapse threatens the financial markets because of swaps.

So why is the MSM not pointing out the connection between Sen. McCain and the present financial crisis? Should Sen. Obama help the American voter to make this connection? What do you think?