Wow. Just Wow.

I doubt this will make much news, but it should. Seriously.

In the current issue of Contingencies, McCain wrote an article on health care and the free market. It includes the following passage:

Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.

Paul Krugman points out the obvious:

So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry!

Let us understand this passage correctly: McCain is admitting that he is responsible for the collapse, which today he has been blaming on inadequate regulation (even though Phil Gramm -- the champion of deregulation -- is his advisor; even though he has always been a firm believer in deregulation himself). Let me repeat that again: MCCAIN ADMITS HE IS RESPONSIBLE FOR THE COLLAPSE. Responsible in part, at least. Not solely responsible.

If he ever takes questions from a damn reporter again this better be the first thing asked.

Saturday, September 20, 2008