Monday, September 22, 2008
One now reads that McCain wants to appoint Andrew Cuomo to head the SEC. (Hat tip: Instapundit). Whether or not he is serious, it is clear from McCain's other statements that he views the financial crisis as a question of fraud by private corporations rather than a bad set of rules established by government combined with negligent behavior by corporate actors.
Sorry, this is not surprising. In fact, this is exactly what I predicted when I first said that I would not support McCain. He does not understand markets and he loves regulation. If McCain is elected, the Republicans will not be forced to reform themselves. They will become indistinguishable from the Democrats and they are likely to preside over a failed economy. It is hard to see any upside for limited government.
If Obama wins, he may screw things up royally, but the Republicans will attack him and will are liked to be forced to get back to their limited government and market principles. The next four years look bad, but there is hope for the future.
Sorry, but that is still how I see it.
Update: Since Glenn has linked to this post with the statement "why [Mike Rappaport] is not supporting McCain," I thought I should give readers a couple of other blog posts on the subject with additional reasons. Here are three of many, and there are others on this page.