Obama Corrects McCain's History On Regulation (VIDEO)

McCain claims he warned about the coming economic crisis. But as ThinkProgress notes, in 2007, he admitted he was "surprised" by the crisis. "So, I'd like to tell you that I did anticipate it, but I have to give you straight talk, I did not," he said.

Obama: Now I've got to correct a little bit of Senator McCain's history, not surprisingly, but let's first of all understand that the biggest problem in this whole process was the deregulation of the financial system. Senator McCain as recently as March bragged about the fact that he is a deregulator. On the other hand two years ago I said we've got a subprime lending crisis that has to be dealt with, I wrote to Secretary Paulson, I wrote to Federal Reserve Chairman Bernanke and told them this is something we have to deal with and nobody did anything about it. A year ago I went to Wall Street and told them we have to re-regulate, and nothing happened.

Comments

[Oldbuck]

The Republican party has been great a spinning things but it going to be a little hard to blame the Democrats for the economy disaster facing this nation. I hope we can pull this out but a damn taxes cut when spending like a drunken sailor will not get it done. McCain has lost his mind.

[doctorwang]

At this point Biden should be utilized to maintain a steady attack on Palin.O can absolutely handle McC. Palin is the only hope left for McC. Let Biden go after her....and the many questions surrounding her. He needs to take out any wind in her sail that may carry over to the Independent voters.

[rosal]

The more they attack and try to humiliate Obama, the more Independents support Obama. The Economy is too much on everybody's mind to care for cheap smears.

[doctorwang]

Palin is being set up as the attack dog (look at her recent speeches). O need not worry about McC...he trashed him tonight. However, she does carrry some popularity. Let Biden take care of her.....and keep O above the fray.

[rosal]

Not only Obama looks presidential, he comes across as very sincere and truly caring for the people, Mc comes across as insincere and fake, people can see thru his act.

[VikingQuest]

Did I watch the same debate?

I saw 2 career politicians saying whatever they could to get elected.

They both lied right to your face, they both said this bailout bill would stop the economy from getting worse before it gets better . . .

[doctorwang]

You are only one of tens of millions of voters. Check out the polls within the next two days.

[rosal]

You are getting boring with your frustration and bitternes. Try to deal with your own stuff.
Who is the perfect person you support?

[UncleJimbo]

But I like Obama's lies better!

[OrbitOfOurOwn]

Better a career politician than "one of us, just a joe six-pack" person. Before you spout off again go count the number of lies Mc/P have told vs O/Biden. It isn't even close. H*ll, just in the last few days Mc/P have lied it up to not seen before levels. Sleasebags.

[gopSTEALSyourTAXmoney]

get a hearing aid--
and some new eye glasses--
----------i-d-i-o-t----------

[PDXTransplant]

Whoo Hoo!! Go vote!

Quick Vote 0 www.cnn.com
Who fared better in Tuesday's presidential debate?

Sen. John McCain 14% 7887
Sen. Barack Obama 83% 46929
No clear winner 3% 1777

Total Votes: 56593

read related article »This is not a scientific poll

[doctorwang]

Not scientific- but promising.

[VikingQuest]

I don't think I could have been more disappointed in both of these guys tonight, neither would answer questions just like last time.

YES MCCAIN & OBAMA . . . THE ECONOMY IS GOING TO GET WORSE BEFORE IT GETS BETTER . . . GOVERNMENT ISN'T GOING TO CHANGE THAT.

[doctorwang]

There is no doubt that the economy is scr-rewed. Do you want 4 more years of the same b.s.?

[VikingQuest]

4 years ago I was a lot worse off, housing prices came down to an affordable level so I bought one and a couple of news cars.

The correct question would be do I think government intevention can change it . . . my answer no, by artificailly keeping housing prices high does nothing but delay the inevitable.

I will change my own life more than any presidential candidate will.

[barelyhere]

NOOOO!!!!!!!!!

[BIG JOHN]

HELL NO

[littledogs1]

John Mccain is trying too hard to pretend that he is something he is not, he is not a man who cares about the middle class, the fact that there are people that happen to live on just their ss income, that kids don't have health care. He does not and has not cared who looses their home, give me a break, he recently said that people had no one to blame but them self for buying homes they can't afford, wtf, Obama has been saying for years that the mort co should try to re-neg loans rather than forclose, if they had been we would not be in the mess we are in.Obama is the best chance we have to get this country fixed.

[Biffmeister]

I'm guessing that calling him "that one" will change to Mr. President. McCain should be able to do that. A retired military man should remember the term from his chain of command education.

[TheAlchemist]

Your remark reminds me of the Barack/Hillary debate when he tells her he's looking forward to her advising hem as president...

[kellygrrrl]

An Israeli reader writes:
Your post on "The Danger of Obama" immediately brought to mind what happened here in Israel in the period leading up to Yitzhak Rabin's assassination. Even allowing for the differences in political culture between the two countries, some of the sounds we're hearing in the public debate around the election have a haunting echo. Here no one would have thought it possible that an Israeli Jew would take the life of a high official. There's little doubt that the crescendo of demonization toward Rabin – including accusations of treason, flyers picturing Rabin as an SS officer – and the difficulty, in a society guaranteeing free speech, of 'civilizing' the public debate before it creates a fertile bed for actual violence, all helped create the context in which Rabin's murderer decided to take matters into his own hands.
I'd like to see which Republicans will denounce this turn towards demonization. And if there are no takers – maybe Joe Lieberman?

[TheAlchemist]

You call to mind a haunting time in history.

God keep these men and their families safe.

[Biffmeister]

Thank you for a very astute observation that we in the U.S. would otherwise not have knowledge of. The similarities are very real. The violent talk doesn't transform most of us into killers, but there is always a fringe of individuals who can be swayed to do the unthinkable.
Palin's inflammatory rhetoric needs to be stopped now, and violent audience responses need to be investigated by the FBI/Secret Service.

[JCB360]

If you are tired of McCain and Palin lies, not to mention the Shawn Hannity's and Ann Coulters of the world and support Barack Obama and Joe Biden then visit

www.republicansareliars.com

[VikingQuest]

Thank you for citing an unbiased source.

BTW, if you are tired of them, there is something called a remote control that allows you to change the station.

[doctorwang]

You can certainly avoid Hannity on F@X.....but even the MSM shows/airs his talking points each time they show Palin speaking.

[GeezerusMaximus]

OOOPS! how quickly they forget

[Whatashame]

McCain did not shake Obama hand at the end. Obama stayed back and talk to people and McCain walked out.

[rosal]

He lost, so he cut and run. "That One" won BIG!

[TheAlchemist]

I spotted that, too, where John and Cindy were standing together and Barack went to shake John's hand, but noting that John's hand wasn't offered in return Barack shook Cindy's hand instead.

[Krankil]

It's funny to watch the Fixed News nuts blame the media again for McCain loss. Kristol and Fred Barnes are upset that the questions did not include same sex marriage, guns and abortion!! These lunatics are just unbelievable

[nstockard]

You people don't get it. Obama just contradicted himself over and over. Liberals are following Obama like a puppy follows the dog catcher to doggie hell! I wrote a blog post about Obama's contradictions, but I'm sure liberals will tell me how stupid I am, and how I am wrong with the same old language, "Change!"

http://averagepolitics.wordpress.com/2008/10/07/debate-winner-obama-or-mccain/

[rosal]

Bitter because of the old man's performance? Deal with it my friend

[doctorwang]

Okay- not to disappoint you....you are st#pid. I hope that makes you sleep better tonight.

[lincat]

LOL doctor.

[kellygrrrl]

poor poor you. hurts, huh?

[jlarue]

Yawn

[PDXTransplant]

Please don't vote - you are too |gnorant to vote...

[rosal]

A little trivial and unimportant piece of info: Sin-dy dressed in blue, Michelle (who looked beautiful) dressed in red.

[kellygrrrl]

I noticed that also. weird, huh?

[scrzbill]

I am sorry I missed the end of the torture because it is torture watching Mcbush distort everything or just plain telling lies. But anyway back to the point, I missed the end because of our drinking game-My Friends-I voted for something else and was overruled. I feel so ashamed for the republicans for having only to be able to nominate Pyglin and Mcbush as their candidates.