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McCain, Obama & Wall Street “Reform”: The Good, Bad & Ugly September 15, 2008

Posted by trouble97018 in Economy, McCain, News, Obama, Politics.
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Huffington Post

David Sirota

Posted September 15, 2008 | 04:58 PM (EST)

With the presidential campaigns issuing competing press releases about the weekend’s Wall Street meltdown, it’s instructive to step back from the partisan sniping, take a look at the empirical record, and therefore try to get a handle on who, in fact, would be better equipped to handle the crisis as president.

There are indeed good sides to both John McCain and Barack Obama’s record when it comes to the issues this crisis involved – and there are, as well, bad and ugly sides, too. But once you look at the whole picture, it is clear who would be in a better position to deal with the meltdown.

THE GOOD: Both Candidates Have, At Times, Confronted Corporate Power

Though controversial to acknowledge among progressive circles, McCain has displayed fleeting flashes of populist courage at times during his career. As the Washington Post reported in January, McCain “Over the past decade, McCain has annoyed, aggravated and nearly destroyed some of the most powerful members of Washington’s Republican establishment.” That includes tangling with corporate lobbyists over campaign finance reform and prescription drug reimportation, and going head-to-head with Grover Norquist, who leads one of the most powerful corporate front groups inside the Beltway.  Source Article

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