For a moment
last night there was a glimmer of hope. Obama is leading in the
polls because of the economy, and in particular, the banking
failures. As usual he blamed the financial crisis on Bush-McCain
deregulation (though, as some one here pointed, didn't give a
single example). McCain started to say the
problem was that Obama and the Democrats forced banks to make bad
loans to risky loan applicants. All he needed to do was to quote
Stanley
Kurtz: "Community
organizers intimidate banks into making high-risk loans to
customers with poor credit." But he didn't press the point. A lot
of voters think Obama is right, that deregulation caused the
banking mess. McCain and the Republicans have failed to show how
the crisis was not the fault of the free market and deregulators,
but social engineering and interference in the market by liberal
politicians. That's why McCain is trailing. And there is no excuse
for this.
