Speaking in Florida today, Republican presidential nominee Sen. John McCain vowed that he would "clean up Wall Street."
"The McCain-Palin administration will replace the outdated and ineffective patchwork quilt of regulatory oversight in Washington and bring transparency and accountability to Wall Street," McCain said. "We will rebuild confidence in our markets and restore our leadership in the financial world."
With all due respect, Sen. McCain, there is already a mechanism to "clean up" CEOs and financial firms that do not operate productive businesses: Capitalism.
What the market does not need is a "Good Samaritan" vigilante, who meddles with the mechanics of the free market to weed out the bad apples. What the market needs right now is the freedom to work itself out. Any further government intervention at this point will only exacerbate the problems.
Therefore, Sen. McCain, the Libertarian Party asks that you not do anything at all. So please, put your scrub brush back in the closet.
