Banking is McCain's Model for Health Care

Priceless (McCain in the Sept/Oct 2008 issue of Contingencies):

Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.

In his defense, he was referring to allowing consumers to purchase health insurance across state lines, which would presumably provide more nationwide competition and replace much of the state regulation with federal regulation. But I don't think that more choices of innovative products in mortgages (ARMs, 100% loans, interest-only loans, balloon payments) turned out to be a good thing for the banking industry or its customers, necessarily. And McCain here seems to be strongly advocating deregulation. He doesn't mention adding more sensible federal regulation, just eliminating state regulation.