Tuesday, September 16, 2008

McCain Is Dazed And Confused Again

Today McCain stated that, "I understand the economy. I was chairman of the Commerce Committee that oversights every part of our economy..." Well, that might be very well and good , but according to the Washington Post that committee doesn’t oversee “every part of our economy,” let alone “the very areas now in crisis“.

In fact, it is the Senate Banking Committee that has oversight of “banks, banking and financial institutions; control of prices of commodities, rents and services; federal monetary policy, including the Federal Reserve System; financial aid to commerce and industry and money and credit, including currency and coinage.”

According to its Web site, the Commerce Committee oversees 13 areas, beginning with the Coast Guard, and continuing through “regulation of consumer products and services … except for credit, financial services, and housing” — the very areas now in crisis.

ThinkProgress has the video clip and more.

As a side note, McCain is blaming the Wall Street melt down on "Fat Cats". Problem is, many of those Fat Cats are funding his campaign. According to Bloomgerg, McCain's "largest campaign donors" were employees of Merrill Lynch, as well as their families, who in total gave the Arizonan $298,413.

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