McCain Praises Banking Deregulation

John McCain, writing in the Sept./Oct. 2008 edition of Contingencies, the ever-so-aptly named actuarial journal, makes a suggestion that seemed innocuous just days ago: that banking deregulation was a good thing.

From a lengthy defense of his health care proposal, which relies heavily on tax incentives:

"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."