McCain calls for ‘less government regulation’ of small businesses.

When several of Wall Street’s giant banks collapsed in September, Sen. John McCain (R-AZ) scrambled “to recast himself as a champion of regulation” in order to erase his past support of legislation β€œto broadly deregulate the banking and insurance industries helping to sweep aside a thicket of rules established over decades.” But McCain has had a tough time sticking with his new pro-regulation message. After meeting with small business owners in Colorado yesterday, McCain released a statement emphasizing the need for “less government regulation of their business.” Politico’s Lisa Lerer notes that this is “a dangerous message in the midst of a market meltdown many have blamed on a lack of regulation on Wall Street.”