Reforming Our Financial Markets

John McCain's website prominently displays numerous statements and remarks made by both McCain and Palin regarding the current financial crisis. In one statement McCain said, "If Governor Palin and I are elected in 49 days, we are not going to waste a moment in changing the way Washington does business. And we're going to start where the need for reform is greatest. In short order, we are going put an end to the reckless conduct, corruption, and unbridled greed that have caused a crisis on Wall Street."

He goes on to say, "Under my reforms, the American people will be protected by comprehensive regulations that will apply the rules and enforce them to the full. There will be constant access to the books and accounts of our banks and other financial institutions. By law, it will reduce the debt and risk that any bank can take on. And above all, I promise reforms to prevent the kind of wild speculation that can put our markets at risk, and has already inflicted such enormous damage across our economy." Finally he adds, "And I promise you that on my watch, we are never going to let these kinds of abuses go uncorrected or unpunished."

According to opensecrets.org, McCain's top 5 contributors are Merrill Lynch, Citigroup, Morgan Stanley, Goldman Sachs, and JP Morgan. It is important to note that the organizations themselves did not donate, rather the money came from the organization's PAC, its individual members or employees or owners, and those individuals' immediate families. That being said, it makes me wonder how the employees and owners feel about the statements made by John McCain recently. Do they feel threatened by these strong statements of intent or do they acknowledge that things are so bad that government intervention is necessary?