Watch political spin pro Julie Menin change the subject with the skill of a Romulan. UPDATE – McCain responds!

Read carefully –

In this scene Sean has just played a clip from a new DNC attack ad that blamed the mortgage crisis on John McCain. Of course McCain was part of a team of GOP Senators who tried to get mortgage reform done since 2003 and the Democrats filibustered it including Barack Obama.

Democrat talking head Julie Menin (not wishing to defend such a preposterous ad) then blames Republicans for “chipping away” at the Glass-Steagall Act for the crash. This is a lie. The changes that were made to Glass-Steagall were fully bi-partisan (38 Democrat Senators voted for the changes), fully supported by Bill Clinton and the changes were made to make our banking laws more in line with the rest of the world. It was by no means the mass deregulation Democrats are now saying it was.

Bill Clinton rightly said that the reforms helped because they allowed some healthy banks to buy out weaker banks so that the Fed and the government wouldn’t have to (WSJ Oct. 1, 2008 and HERE).

So after being called on falsely blaming Republicans, Julie Menin then criticizes the Republicans for always trying to place blame… EXCUSE ME JULIE – The DNC attack ad tried to put the blame on McCain and JUST SECONDS AGO you just tried to put the blame on Republicans for a good bill that was fully bi-partisan. Menin performed an instant hypocritical 180 degree reversal as smooth as silk.

See how quickly she changed the subject and moved the goalpost? From the DNC ridiculously blaming John McCain, to falsely blaming a good bipartisan law on Republicans, to “Hey lets not put blame”, to “the GOP is the party of NO and has no solutions” when it was the GOP who worked to get mortgage reforms passed year after year with Democrats fighting for the status quo.

UPDATE – Here is McCain on the record in 2008 about these same bogus accusations –

Paul Ryan on CNBC – Fannie Mae and Crony Capitalism

Paul Ryan and the financial pro’s at CNBC tell you the exact same story we have been telling you for over a year. Much of this regulation in government is not designed for the safety and benefit of the public. It is designed to create “Crony Capitalism” to use regulation and policing to tip the scales of competition; to pick winners and losers while politicians get rich and you and I lose.

Another term for this type of corrupt behavior is “political market economics”. Another term os “corporatism”. Another term is fascism, but most people have stopped using this term because of its pajorative baggage.

Related:

Real Capitalism vs. Political Market Capitalism

Corporatism in action: Feinstein routes government money to firm doing business with husband – UPDATED!

Fallacy upon fallacy, ignorance upon ignorance…

Crony Capitalism – Obama’s Legacy