With our financial system in shambles thanks in large part to the brain-dead Republican mantra of the-private-sector-is-always-right-and-all-regulation-is-always-bad, it should be no surprise to learn that McCain championed all forms of deregulations of the financial sector.  From the WSJ:

"I'm always for less regulation," John McCain, March 3, 2008

"Casual oversight by regulatory agencies in Washington" is responsible for the crisis, John McCain, Sept. 17, 2008

Which is it, Sen. McCain: regulation or deregulation?

If a liberal Democratic administration had put hundreds of billions of dollars of taxpayer money at risk by bailing out Bear Stearns and nationalizing American International Group (AIG), Fannie Mae and Freddie Mac, wouldn't conservatives accuse Democrats of "socialism"? Can Mr. McCain now square a circle by calling himself a conservative while favoring increased regulation?

In fact, Mr. McCain championed financial deregulation for years.

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The GOP Leads A 'Socialist' Bailout

By LANNY J. DAVIS

http://online.wsj.com/article/SB122204285661261373.html

"I'm always for less regulation," John McCain, March 3, 2008

"Casual oversight by regulatory agencies in Washington" is responsible for the crisis, John McCain, Sept. 17, 2008

Which is it, Sen. McCain: regulation or deregulation?

If a liberal Democratic administration had put hundreds of billions of dollars of taxpayer money at risk by bailing out Bear Stearns and nationalizing American International Group (AIG), Fannie Mae and Freddie Mac, wouldn't conservatives accuse Democrats of "socialism"? Can Mr. McCain now square a circle by calling himself a conservative while favoring increased regulation?

In fact, Mr. McCain championed financial deregulation for years.