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 other words, deregulate the healthcare industry like they deregulated the financial industry.
While McCain doubtless wishes he hadn't said that, it clearly reflects a real belief among his advisors. This is a great issue to attack McCain. Indeed, this whole collapse provides a chance to both link him to economic failure and the failed policies of the Bushies. McCain can easily be linked to Bush's defunct plan to privatize social security (still defended by McCain). Keep in mind, had succeeded, lots of seniors would be royally screwed with this latest meltdown.
Roosevelt made and issue railing against the malefactors of wealth who caused the meltdown, Clinton, whatever his flaws, could reduce economic wonkery into emotional down-home issues. To take full advantage of the situation, Obama ought to learn from his Democratic forebearers and combine this rhetoric with a complete critique of conservative free-market ideology.