
It has to be one of the more obscure subjects ever addressed in a news release from a major presidential campaign. John McCain — who two weeks ago called for the ouster of Securities and Exchange Commission Chairman Christopher Cox — now is praising the agency. Why? Its decision on Tuesday “to relax mark-to-market accounting requirements.” Read more
On September 15 — the day Lehman Brothers filed for bankruptcy protection, Merrill Lynch was purchased by Bank of America, and AIG faltered — John McCain said in a speech that “the fundamentals of the American economy are strong.” Later in the day he revised that statement, explaining, “We’ve got to fix this economy, which the fundamentals of are at great risk right now . . .” Read more
Revelations that the nation’s unemployment rate reached its highest level in five years in August helped make the economy issue No. 1 on the campaign trail this week. But the situation is actually worse than the media or candidates would have you believe. Read more

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