Posted on 06/13/2008 7:28:33 AM PDT by Sir Gawain
Speaking on Wall Street last night, Senator McCain of Arizona sounded more like an economic populist than a proponent of the kind of unbridled free-market capitalism promoted by many who work on the trading floors nearby.
At a town hall meeting in Federal Hall, the presumptive Republican nominee for president endorsed a federal probe into speculation in the oil markets, a phenomenon that some analysts contend accounts for about a third of the escalating cost of crude.
"I believe there needs to be a thorough and complete investigation of speculators to find out whether speculation has been going on and, if so, how much it has affected the price of a barrel of oil," Mr. McCain said in response to an audience member's complaint about investors driving up the price of fuel and other commodities. "There's a lot of things out there that need a lot more transparency and, consequently, oversight."
(Excerpt) Read more at nysun.com ...
What is idiotic about trying to shut down the speculators if it will bring down the price of gas?
This man is truly and idiot............
aaaaack aaack ack ack (sorry, fur ball)
Of all the silly things I’ve read so far, this take the cake...
Obama will get us nuked.
That’s the biggie. Supreme court, a few other things.
Fun huh?
Speaking of "obscene profits", I guess he's okay with his bride's inherited fortune ($100MM+ ?).
Persecute speculators ... take a few steps .... establish price controls.
Oh, John...John...
How can you be so friggin STUPID! A 10% return on gross sales is "obscene"? By whose standards? You're only saying this because you think it will ingratiate you to the voting public, most of whom envy the intelligence of plankton. Well, for those of us who still have a few neurons firing in the cerebral cortex, you look like a complete IDIOT. If you even think about a windfall profits tax, you can count me out.
unbridled free-market
Gee, wonder where this reporter’s bias lies?
You mean the part about McCain sounding like a Democrat on energy policy?
I wish there was a Republican running for President.
I speculate that when the speculators are investigated the investigators will speculate that there has been speculating going on .... now, who do you want to speculate is doing the major speculating? Chinese? Russians? Arabs? Soros and the like?
Seriously, what an idiot statement. GIVE US A SUPPLY SIDE ADVOCATE! EITHER PARTY!
The price of oil is high because of dollar devaluation, which is strongly correlated with interest rates set by the private Federal Reserve, and federal government spending. Commodities, including oil, are merely the latest financial bubble to work through the system.
Just when Obama and his crew are making slip after slip handing it back to McCain, McCain is doing his best to hand it back to Obama.
This election will go to the liberal who makes the fewest screw ups.
Every second thing that the man says is idiotic. Heaven help us !
Price controls!
Now there’s a proven...losing strategy.
Guess you’ve never stood in a gas line for hours waiting for “cheap gas”. Or checked your license number to see if it ended even or odd so you know if you would be allowed to get in....long gas lines...to purchase gas that day...? Or been allowed to buy 5 gallons at a time on the PA turnpike just to get you to the next gas station- maybe.
Oh good Lord! Investigate speculators to see if they have been speculating? May as well investigate doctors to see if they've been doctoring. Investigate lawyers to see if they've been lawyering. Investigate police to see if they've been policing
Dick Cheney, we beg you to step forward and run for President!!!
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