US NEWS & World Report...Needs Action!Submitted by mefleabyte on Sat, 01/26/2008 - 22:20
USNEWS & World Report
McCain, Paul, and the ˜Plunge Protection Team - Capital Commerce (usnews.com)
"I'm very well versed in economics" is how John McCain responded to a Tim Russert question at last night's GOP presidential debate that referred to a past, possibly self-deprecating statement McCain made about his lack of economic expertise. Yet McCain really seemed to have no clue what Ron Paul was talking about when Paul asked him a question about the President's Working Group on Financial Markets—the so-called Plunge Protection Team—consisting of the Treasury secretary, the Fed chairman, and government regulators—that meets at a principals level during times of financial crisis. Some have conspiratorially speculated that the team has nudged Wall Street banks to buy shares to prop up the U.S. stock market. Here is the exchange:..............