Obama Leads, McCain Follows: Paulson Treasury Raid Edition
Posted by Phoenix Woman on September 22, 2008
Andrew Sullivan has already noted McCain’s and often even Bush’s tendency to follow Obama’s lead in foreign policy (though not of course without the obligatory face-saving ritual of grumbling).
Looks like this is now happening in the field of finance, too:
John McCain has serious concerns about the Bush administration’s proposed $700 billion bailout of financial institutions and will call Monday morning for the creation of a bipartisan oversight board to play a major hand in shaping and administering the plan, according to aides.
[...]
Noting that Paulson could well be out of office in four months, McCain is proposing a high level oversight board to craft guidelines for which institutions would receive federal assistance and to help oversee the distribution of taxpayer dollars.
McCain will suggest it be comprised of members of both parties and specifically mention legendary investor Warren Buffett, an Obama backer, former venture capitalist, Massachusetts governor and GOP primary rival Mitt Romney and New York Mayor Michael Bloomberg, an independent who has not endorsed either candidate.
Actually, we already have a high-level oversight board, one with actual teeth that it is entitled to use on occasion. It’s called “Congress”.
This entry was posted on September 22, 2008 at 9:31 am and is filed under 2008, abuse of power, banking, Barack Obama, big money, bust-outs, capitalism as cancer, Congress, John McCain. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
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