Debate blogging 1

The debate on the credit crisis can be winnowed down to this basic line: John McCain blames a few bad apples — in this case Fannie Mae and Freddie Mac (and, by extension, the people who relied on these institutions to ensure that banks would provide them loans — i.e., the poor and those living in poor and minority neighborhoods); Barack Obama blames deregulation.

McCain’s argument ties to his “clean up Washington” rhetoric, to eliminate corruption without upsetting the basic free-market structure; Obama’s focus on reigning in the excesses of the free-market.

Author: hankkalet

Hank Kalet is a poet and freelance journalist. He is the economic needs reporter for NJ Spotlight, teaches journalism at Rutgers University and writing at Middlesex County College and Brookdale Community College. He writes a semi-monthly column for the Progressive Populist. He is a lifelong fan of the New York Mets and New York Knicks, drinks too much coffee and attends as many Bruce Springsteen concerts as his meager finances will allow. He lives in South Brunswick with his wife Annie. View all posts by hankkalet