The AP has a story today, Obama backs recovery plan, says McCain “in a panic”. It’s about a speech Barack Obama recently gave on the current economic problems.
Here’s an interesting detail:
“As he talked to reporters he was flanked by Robert Rubin and Larry Summers, former treasury secretaries under President Bill Clinton.”
Now take a look at the Washington Post editorial, ‘Always for Less Regulation’?:
“One element of the Obama campaign’s brief against Mr. McCain is that he supported repeal of the law separating commercial banks from investment banks. ‘He’s spent decades in Washington supporting financial institutions instead of their customers,’ Mr. Obama said yesterday. ‘Phil Gramm, one of the architects of the deregulation in Washington that led directly to this mess on Wall Street, is also the architect of John McCain‘s economic plan.’ Would it be churlish to point out that another author of the Gramm-Leach-Bliley law is former congressman Jim Leach, a founder of Republicans for Obama? Or that Obama advisers Lawrence H. Summers and Robert E. Rubin supported the repeal — which was signed by President Bill Clinton?”
So I guess Obama has advisors who were part of the problem.