The "Ol' Boy's Network" Is A Staff Meeting

Some fiery rhetoric just now from Barack Obama on the campaign trail, as the Illinois Democrat ripped into McCain for a couple of questionable statements he made on the economy this past week, and called the Republican nominee part of the insider culture he now opposes.
"Yesterday, John Mccain actually said that if he's president, he will take on, and I quote, "the old boy's network in Washington," said Obama. "I'm not making this up. This is somebody who has been in Congress for 26 years, who put seven of the most powerful Washington lobbyists in charge of his campaign. And now he tells us that he's the one who is going to take on the old boy's network. The old boy's network, in the McCain campaign, that's called a staff meeting. Come on."

Barack Obama on McCain's 'old boy network'

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McCain On AIG Bailout: Rejects It Yesterday, Says It's Okay Today

McCain Embraces Regulation After Many Years of Opposition

Source: Washington Post, Page One

A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace that proponents said would result in greater economic growth.

Now, as the Bush administration scrambles to prevent the collapse of the American International Group (AIG), the nation's largest insurance company, and stabilize a tumultuous Wall Street, the Republican presidential nominee is scrambling to recast himself as a champion of regulation to end "reckless conduct, corruption and unbridled greed" on Wall Street.

"Government has a clear responsibility to act in defense of the public interest, and that's exactly what I intend to do," a fiery McCain said at a rally in Tampa yesterday. "In my administration, we're going to hold people on Wall Street responsible. And we're going to enact and enforce reforms to make sure that these outrages never happen in the first place."

McCain hopes to tap into anger among voters who are looking for someone to blame for the economic meltdown that threatens their home values, bank accounts and 401(k) plans. But his past support of congressional deregulation efforts and his arguments against "government interference" in the free market by federal, state and local officials have given Sen. Barack Obama an opening to press the advantage Democrats traditionally have in times of economic trouble....

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Exposed: McCain team includes 83 Wall Street lobbyists