The GOP Leads a "Socialist" Bailout

Funny how the Republicans love to label Democrats as "socialists" but have no problem being even worse in that regard when necessary to save their corporate masters:

"I'm always for less regulation," John McCain, March 3, 2008

"Casual oversight by regulatory agencies in Washington" is responsible for the crisis, John McCain, Sept. 17, 2008

Which is it, Sen. McCain: regulation or deregulation?

If a liberal Democratic administration had put hundreds of billions of dollars of taxpayer money at risk by bailing out Bear Stearns and nationalizing American International Group (AIG), Fannie Mae and Freddie Mac, wouldn't conservatives accuse Democrats of "socialism"? Can Mr. McCain now square a circle by calling himself a conservative while favoring increased regulation?

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Now I know what former Sen. Gary Hart meant when he told an audience of wealthy Republican businessmen during his 1984 presidential campaign, "I know why you are conservatives -- you favor private enterprise for the poor and socialism for the rich."

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Mr. Obama will trigger the great liberal versus conservative debate so long needed in this campaign. Is government our friend or enemy? Can the private market always be trusted? What is the best mix of regulation and private enterprise? Who pays? Who wins? Who loses?

That debate is long overdue. If it occurs, the American people will be the winners, whoever wins the election.