10/23/2008 05:12 am ET Updated May 25, 2011

McCain Defends Deregulating Wall Street

Well, I guess we can toss aside the notion that John McCain is going to reinvent himself as a support of tough new regulations, because on 60 Minutes last night he defended deregulating Wall Street as "helpful to the growth of our economy."

PELLEY: In 1999 you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?

McCAIN: No, I think the deregulation was probably helpful to the growth of our economy.

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