This must be the worst timing in history. McCain is making gaffe after gaffe, but this must be one of the worst. He wants the insurance market for health-care to be less regulated so it can be more like the financial bank market....
From one of my favorite economists Paul Krugman:
http://krugman.blogs.nytimes.com/...
"McCain on banking and health
OK, a correspondent directs me to John McCain’s article, Better Health Care at Lower Cost for Every American, in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries. You might want to be seated before reading this.
Here’s what McCain has to say about the wonders of market-based health reform:
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.
So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry!"
This basically means that McCain wants the health insurance market to be less regulated. This is a strict contradiction to his latest comments about the financial market. The latest development in the financial market has shown us that this market is volatile and in certain circumstances can collapse. What happens if the insurance market for health-care goes through a similar situation? Well, lives would be at risk, many lives. This is something the Obama-camp should focus on, because I think a lot of people, specially older people would find his comments disturbing.