Obama Ad: McCain A "Prescription For Disaster"

Barack Obama is out with a new ad Monday morning, eviscerating John McCain for an article he recently wrote calling for the health care industry to have as much regulatory freedom as its banking counterpart.

"We've seen what Bush-McCain policies have done to our economy," goes the script. "Now John McCain wants to do the same to our health care. McCain just published an article praising Wall Street deregulation... Said he'd reduce oversight of the health insurance industry too... Just 'as we have done over the last decade in banking'...Increasing costs and threatening coverage. A prescription for disaster."

The spot, titled "Article" was expected. Ever since McCain's article from the September/October edition of Contingencies Magazine was first re-posted by New York Times columnist Paul Krugman on Friday, Democrats have been chomping at the bits to ram it down McCain's throat. After all, what better way to deflate the idea that the Republican nominee, after years of pursuing deregulatory policies, all the sudden was a champion of government oversight? Or, for that matter, what better way to drive home the notion that McCain would put one's health care - not to mention Social Security - at play in a clearly erratic market.

As such, Obama had been bringing up the Contingencies piece while on the stump. The ad, which will air on cable starting Monday, is the next effort to keep the article in the national conversation.

Comments

[XME]

I like this. Obama has been painted as the "risk". Time to assign that to McCain where the real risk is!

[SpencersMom]

Great ad!

Now how about one detailing Rick Davis' Freddie/Fannie cash boondoggle?

Keating, table for five? Charles Keating?

PEACE

[arthur2008]

If the proposed giveaway to corrupt financiers proceeds without meaningful congressional AND judicial oversight, there is absolutely no possibility that it will result in anything less than thievery on a scale so grand that it makes Dick Cheney and Halliburton (and Charles Keating and John "Country First" McCain) look honest.

[Phil123]

Here's the truth: McCain put forth a bill to regulate these funds in 2005. Obama and a Democratic majority voted against it. Obama received 500K in lobby money from these funds.

[lvdragonlady]

Where is your proof Phil? Show us the proof.

[RedneckDem]

Give us the bill title, number and the particulars and we can look it over and explain to you what really happened...

[SpencersMom]

Sorry, Phil didn't get any details (or facts) in this morning's talking points. This is just a typical hit-and-run tr0ll play.

PEACE

[RedneckDem]

Also, this is another "he was for it before he was against it" moments (if your Bill reference is true). McCains on tape and on TV for all to see spouting off about de-regulating everything he can. If you don't believe your owns eyes, there's no one here who can help you.

[TheGuide]

So what's your point?

[cariintexas]

That is NOT TRUE. CNN FACT CHECKED it this past friday and again yesterday. The Fact IS Obama received $105,000. MC CAIN received $169,000. The amounts were from lobbyist, and chief executives and other officers, from fannie and freddy. What is your source for your version of the truth?

[Chemdawg99]

Clearly the Republican Party is all about "business as usual" but will say and do anything to get McCain/Palin elected. John Kerry was labled a flip-flopper in 2004. McCain is more than just a flip-flopper, he and Palin are pathological liars. Conservatives always label economic policies they don't agree with as "socialist". Well isn't handing out $700 Billion to bail out Wall Street with few strings attached the ultimate form of "socialism"? How about taking that money and putting it back into our infrastructure or giving it back to the people in the form of universal health coverage?

[lvdragonlady]

Actually, the government taking of corporations would be closer to comm*nism.

[Samshade77]

It is actually called fascism lol

[SailFree]

But seriously, if you like the way Washington has handled the mortgage markets, you will just love what it can do to health care. Bailouts, rationing, corruption, and obsolescence--you can enjoy these fruits blended into your health care smoothie...

[wanj]

LOL!!

[Ozarks]

Do the same thing on privatizing Social Security

[SailFree]

Could we get a tabulation of how many Democrats voted to deregulate Wall Street? Didn't Bill Clinton sign a bill to deregulate the mortgage and investment markets? I would suggest that any senator or congressman has had his fingers in the lobbyist and special interest pie to some extent or other, and McCain less than most. I would suggest that Governor Palin should be the one, as a true outsider, to be put in charge of opposing the lobbyists and corruption of Washington.

[ebonyjsg]

How can Palin oppose the lobbyists? Palin hired a lobby back in Wasila, AL to get her some earmarks for her town! Palin is a politician to the core and will say and do anything to get elected just like her partner McCain!

[Anciano]

Yes. The Bill was authored and pushed through by McCain's Treasury Secretary Pick, his campaign chairman Phil Gramm: http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html The credit crisis was due to several pieces of legislation sponsored by Phil Gramm. The first was the Gramm-Leach-Act in 1999. This act allowed investment banks to get into the lending business. Then, Gramm slipped in an amendment into the Commodities Futures Modernization Act of 2000 (CFMA). The CFMA deregulated derivatives trading and allowed lenders to securitize loan portfolios without regs. The CFMA also brought us the Enron energy crises and today’s high gas prices. Finally, Gramm, while working for UBS, lobbied for the passage of the Responsible Lending Act (RLA) in 2003. Consumer activists call the RLA the Loan Shark Protection Act because it preempted states from passing stricter laws against predatory lending. Gramm's parting words to people worried about how they are going to heat their homes and buy food and gas? "Stop Whining. This is a mental recession".

[blue235]

yet the mccain spokesman, tucker, won't emphatically say that Gramm will not have a position in a mccain administration.

[SDunn]

Riiight, especially when she was part of the corruption in Alaska. She may be an outsider to Washington, but she's definitely an insider on corruption and abuse of power.

[NicoleW]

As I write this McCain is having a town hall meeting in PA. He is making himself sound like he was not part of the problem and his party has not been responsible for economy for the last 71/2 years . For all of his political career McCain was for deregulation. He is acting like he was for regulation. Additionally he is pandering to the Irish american vote by insinuating that visa's should be given to more irish people wanting to come over. Typical of McCain ,he lies and says very little. I hope average Americans in PA don't buy into this. He and his party are the problem, and voters should not let him get away with the continual lies..

[ebonyjsg]

I saw a little of his town hall too! He makes me want to puck! I pray these people don't get fooled by him! And did you notice he's trying to change the subject concerning the economy? McCain knows that his push for deregulation along with his party is a very big reason that we are in the mess we're in now!

[ricangirl1805]

Please these people are stuck on stupid.....they are buying that story and blind to the reality

[blue235]

yet suckers are still falling for it. it never ceases to baffle me.

[hapiguy]

McCain and his "staff" Gramm, Davis, and all the Lobby Group who got this Country into Depression with a Capital D. Deregulation,,so they could and will continue to steal from the Cookie Jar,,how could anyone, i mean any American Vote for the McCain/Palin Ticket if they truly care about America...and want this madness to stop,,,,,enough! Reason: GREED

[HypnoToad]

Great ad! Keep 'em coming. Let McCain defeat himself.

[TXfemmom]

This should get the idea across to anyone, and that is virtually the entire country, who needs their health insurance coverage. That article was written and published AFTER the mess with the banking and mortgage company was becoming known. We hadn't seem the complete meltdown, but there was enough to say that deregulation was a danger to the viability of the country to anyone with any sense. That is the problem....JOHN MCCAIN DOESN'T HAVE ANY SENSE, AND IF IT DOESN'T INVOLVE EARMARKS AND SHOOTING MOOSE, PALIN WOULDN'T UNDERSTAND IT EITHER.

[gr8abz]

They use to say Nixon talked out both sides of his mouth. McCain talks out all six. Everybody please donate what you can. We MUST stop McCain/Palin.

[Zhonni]

If it were possible for me to get wood watching some of the Ads the Obama camp is running these days I would.

I mean they are the kind of ads, I have been waiting for.

2 weeks to election, I want to see one about Todd Palin and him wanting Alaska part of Russia or an independent nation.

[Binx101]

" ... Just think about a man who has claimed in a Nationally broadcast interview “I know how to win wars!” as though the empty words had value. He, to this day, he has not been challenged by the corporate media with access to him to back up that claim. It is not only a sad commentary on John McCain’s grip on reality, but a revealing glimpse of the corporate media’s dubious attempts to keep the game going as long as possible"..."
- 21 Sep 2008 - Barack vs. The Volcano (Redux)

Binx101
The Almost Daily Binx
http://binx101.wordpress.com