10/25/2008 05:12 am ET Updated May 25, 2011

McCain Actually Blocked Creation Of Blackberry

To those who express doubts about his economic acumen, John McCain has a simple answer: "I was chairman of the Commerce Committee, which oversights all of the commercial aspects of America's economy," he said in a "60 Minutes" interview that aired Sunday.

It's a bit of an exaggeration -- the Senate Commerce Committee doesn't have primary jurisdiction over the financial services industry, which is at the heart of today's economic crisis -- and it's also a more complicated story than McCain's declaration might suggest. ...

One thing is certain: McCain's tenure is not as simple to encapsulate as McCain's economic adviser, Douglas Holtz-Eakin, tried to make it seem last week, when he held up a BlackBerry and credited its invention to McCain's work on the committee. In fact, McCain voted against key legislation that paved the device's way.

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