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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Monday, September 15, 2008

It's the economy, stupid

The detritus from Wall Street's binging is really starting to pile up: Lehman Brothers and Merrill Lynch can now we added to the messes named Bear Stearns, Fannie Mae and Freddie Mac.

Oh, and let's not forget Enron and Arthur Andersen.

Eight years of excess -- businesses running amok without regulation. Billions for the corporate executives, shrinking retirement accounts for the rest of us as Wall Street comes to grips from the destruction of billions of dollars in capital and mortgages foreclosures.

To paraphrase Gordon Gekko, greed wasn't good for the millions who have lost their homes and nest eggs. Nor is it good for the millions more who are paying higher prices for food and gasoline.

John McCain has admitted "The issue of economics is not something I’ve understood as well as I should." It's in his best interest to change the subject and he's done a bang up job, aided and abetted by a news media that has focused like a laser beam on porcine makeup.

Don't get me wrong. I still think Sarah Palin is thoroughly unqualified for the job of vice president, let alone being No. 2 in line. I await the next installment of the Palin vetting process the McCain camp failed to undertake.

But whether it's talking about Steve Schmidt's faux attacks or spending anytime on "values" as represented by a convicted felon named Chuck Colson, the media in enabling the McCain camp's efforts to change the subject.

The issues we face are serious -- eight years of GOP White House mismanagement, in lockstep with six years of GOP congressional control -- have created vast problems that should be the focus of the presidential campaign.

John McCain is on the wrong side of those issues. His decision to pick an unqualified running mate was an effort to change the subject. But instead, it simply added one to the roster -- questions about his judgment and decision-making.

Let's wake up and deal with the real issues, shall we.

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