What a difference a few billion-dollar federal government bailouts can make.
U.S. Sen. John McCain is up with a new commercial in which he sounds like Wall Street's answer to Robin Hood.
Is this the same McCain that has spent the last quarter century in Washington deregulating the banking and insurance industries and decrying "government interference?"
Is this the same McCain that was instrumental in passage of the Gramm-Leach-Bliley Act designed to make the nation's financial institutions more competitive by tearing down firewalls built between banking, insurance and investment companies (firewalls designed to prevent exactly what's happening right now?)
An interesting note: Bill author U.S. Rep. Jim Leach, a Republican who is now retired, supports Obama. Another bill author, former U.S. Sen. Phil Gramm, is one of McCain's top economic advisers.
A report in today's Washington Post by Michael Shear takes a look at McCain's conversion to economic populist. According to the article:
"I'm always for less regulation," he told the Wall Street Journal in March. He added: "I'd like to see a lot of the unnecessary government regulations eliminated."
Watch the new McCain ad below and see the difference for yourself:
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