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Question: Because of their long advocacy of dangerous banking deregulation policy, will John McCain and his !?
Republican party be blamed by voters in November for the countries growing financial woes!?

Is this crisis the turning point in this election!? Www@QuestionHome@Com


Best Answer - Chosen by Asker:
I think they will!. Remember, Americans have had it with the Bush Administration and it's "fiasco"!. It won't be easy for McCain, trust me!Www@QuestionHome@Com

As much as I want Obama to win, I'm not going to start blaming people for problems they did not cause!.
The banking deregulation started with Clinton in office, and it continued through Bush!.
I think the fact that a member of the Keating 5 is talking about bank regulation is however, hilarious!.

Republicans won't put the economy front and center anyway!. For republicans they need the fear factor, they will continue to say that security is their number one concern!. Even though all the terrorist attacks against the US attacks happened during republican presidencies, except for Oklahoma City, but that was done from the inside!.

Back to the point, banking deregulation is not a bad thing, but you have to be careful about what actions you deregulate!. SOx should apply to banks, and instead of a confusing dual banking system, we need to streamline it, which is something this administration is advocating!. Www@QuestionHome@Com

To begin with, you are in the wrong category as this one is for history not politics!.

That said, blaming one party over the other for this situation is not realistic!. First, although the Executive can propose laws, it is the Congressional that develops and writes the laws!. If one is to blame regulation, or the lack thereof, the Congress and the ruling committees are to blame and that is defined as a pattern of Congressional interference since the mid nineteen thirties!. It is the big government attitude of both parties!.

Secondly, understanding how economies work would help in this instance!. Economies operate in cycles of expansion and deflation!. Government cannot eliminate that cycle!. However, government can interfere in the cycle and (as in this case) extent the expansion phase of the cycle and that only delays the deflation adjustment!. The longer the governmental induced artificial delay the deeper the deflation!.

This has been a long expansion phase of the cycle so the deflation we're experiencing is deeper that usual!. Even so, most of those suffering from this are at the top end of the investors, the typical citizen has their savings protected within the federal deposit insurance system!.

Of course there are those who are suffering because they entered into mortgages which are unrealistic and they buyer could not make the payments!. That they shouldn't have been eligible for such deals is true but at the same time they were attempting to get something for nothing and now have to pay the piper!.

This is not the first time that we have gone through such economic adjustments and it won't be the last, but blaming a candidate (or even a president) as the sole cause of the down turn is neither realistic nor practical!.

If this election is decided in the manner that you have suggested (as a country) we will get exactly what we deserve, the most socialist government that has ever existed and it will (as all socialist governments do) expand the intrusive nature of government!.Www@QuestionHome@Com

Americans have a bad tendency to blame the Democrats for everything thus sparing the Republicans from ever taking responsibility for their stupidity & greed!.

Peace///////////////////\\\\\\\\\\\\\\!.!.!.Www@QuestionHome@Com