McCain Financial Policy — Weekend at Bernie’s

McCain Financial Policy -- Weekend at Bernie's

Fallen financial deity Alan Greenspan, long-time Chairman of the U.S. Federal Reserve Board, appeared before a Congressional committee yesterday, admitting his errors in under-regulating swaps and derivatives markets and assuming the new types of banks and financial services companies spawned by Phil Gramm‘s deregulation spasm would police themselves. Dr. Gramm, now a Swiss Banker, is Sentor John McCain’s chief economic advisor.

Republican Presidential Candidate McCain has repeatedly mentioned Mr. Greenspan in speeches since his 2000 presidential campaign, usually in conjunction with the 1989 film Weekend at Bernie’s:

Republican John McCain said Thursday that as president he would appoint Alan Greenspan to lead a review of the nation’s tax code – even if the former Federal Reserve chairman was dead.

“If he’s alive or dead it doesn’t matter. If he’s dead, just prop him up and put some dark glasses on him like, like ‘Weekend at Bernie’s.'”
Associated Press, “McCain Wants Greenspan, Dead Or Alive,” Oct. 4, 2007

McCain was particularly ebullient, a spirit that carried into the debate when he said his admiration for Alan Greenspan, the Federal Reserve chairman, was so deep that if Greenspan died, McCain would want to prop up his corpse and keep him at his duties, like the title character in the movie “Weekend at Bernie’s.” 
— Frank Bruni, N.Y. Times, “Rivals Vie for Advantage Even Before G.O.P. Debate,” December 3, 1999.

Maybe U.S. Sen. John McCain a week or so ago was onto something with his “Weekend at Bernie’s” crack about propping up econ savant Alan Greenspan and fitting him with a pair of sunglasses if he croaks.
— D.J. Wilson, “Tuning in to Alan Greenspan and local radio commercials,” Riverfront Times RFT News, December 22, 1999.

Of course, the admittedly fallible but still animate Mr. Greenspan is sceptical about Senator McCain’s 2008 tax proposals.

One wonders at the rhetorical wisdom of Senator McCain (born 1936) joking about the mortality of Mr. Greenspan (born 1926).

Never seen Weekend at Bernie’s? Here’s a description: “A pair of losers try to pretend that their murdered employer is really alive . . . .”

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com.

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