Jesse Eisinger on Deregulation and Credit Crisis

September 17, 2008 3:00am by Barry Ritholtz

Both John McCain and Barack Obama responded quickly to the turn of events on Wall Street this week. Early Monday, McCain said “the fundamentals of our economy are strong” but are threatened by greed on Wall Street. He released a new ad saying “our economy is in crisis” and that “only proven reformers McCain and Palin can fix it.”

On Monday, Obama attributed the crisis to lax regulation, which he linked to President Bush and McCain.
Today, the Obama campaign released a new ad attacking McCain’s assertion that the economy is strong. “How can John McCain fix our economy if he doesn’t understand it’s broken?” the ad asks.

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