McCain seems to have lost it. McCain has been the foot soldier of deregulation for decades. He chose as his top economic adviser the architect of deregulation, Phil Gramm. He has denied there was a problem with the economy the entire time he has been running for office. He advocates deregulation insurance, eliminating the tax credit for employers who provide healthcare insurance to employees, and he even last week sang the praises of the successful deregulation of the financial industry. (Obama has been contending that the economy is flawed all along.)
McCain then blames the recent collapse on Obama of all things and trumpets himself as the person to bring regulation to the financial industry. Last week he falsely claimed that Obama was being advised by the ex-chief of Fannie Mae.
That same week he began smearing the reputation of Chris Cox, chairman of the Securities and Exchange Commission, and said that he would fire him. At one point McCain even wanted the head of the Federal Reserve fired, which of course the president cannot do.
George F. Will was particularly interested in McCain’s attacks on Cox. He concludes (in an article in the Washington Post today that I am apparently unable to link to) that McCain is probably not fit to serve as president and recommends Obama as the better choice after McCain’s meltdown.
After the Sarah Palin choice and other examples of bad judgement, Will does not even trust McCain to choose federal jusges:
Conservatives who insist that electing McCain is crucial usually start, and increasingly end, by saying he would make excellent judicial selections. But the more one sees of his impulsive, intensely personal reactions to people and events, the less confidence one has that he would select judges by calm reflection and clear principles, having neither patience nor aptitude for either.