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Old 09-15-2008, 12:00 AM
 
Location: Charlotte
12,646 posts, read 13,616,661 times
Reputation: 1679

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After Frantic Day, Wall St. Banks Falter
September 14, 2008

"In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, announced it will file for Chapter 11 bankruptcy."

Bank meltdown wallops campaigns
September 14, 2008

"Until now, the crisis seemed like a confusing Wall Street story. That all ended with the fast-moving events of Sunday, which The New York Times called “one of the most extraordinary days in Wall Street’s history.” A CNBC special report on Sunday night called it “a complete realignment of Wall Street.”

And that was before the extraordinary 9:30 p.m. announcement by the Federal Reserve of new efforts to shore up markets.

So it’s no longer an insider's game. The crisis is now at a tipping point where Wall Street will visibly affect Main Street: Home buyers, consumers and entrepreneurs will have even more trouble getting credit, slowing the nation’s job machinery."


Whoa

The next President has got one heck of a job ahead of him, and Senator McCain's judment in selecting Governor Palin just doesn't instill the confidence that they'll have the required competence or skill to navigate this mess. If you can take four more years have at it.....in the meantime - Calling Senator Obama, Senator McCain has already admitted he doesn't understand the Economy. We'll take those plans now.
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Old 09-15-2008, 12:10 AM
 
Location: Imaginary Figment
11,457 posts, read 12,353,609 times
Reputation: 4758
McCain's advisor, Donald Luskin: Quit doling out that bad economy line.
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Old 09-15-2008, 12:40 AM
 
Location: western East Roman Empire
6,112 posts, read 10,155,737 times
Reputation: 4850
Quote:
Originally Posted by walidm View Post

The next President has got one heck of a job ahead of him, ... Calling Senator Obama ... We'll take those plans now.
Please explain in detail Obama's plan for monetary reform and reform of the Federal Reserve. Please provide a date for Obama's major policy speech on monetary reform.

Thanks.
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Old 09-15-2008, 01:04 AM
 
3,409 posts, read 8,482,758 times
Reputation: 1922
He can just copy Bill Clinton's plan for all I care. I mean it worked, we were in a surplus by 1999 and 2000, and the economy grew at a strong momentum all the way into the mid 00's (around 2005).
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Old 09-15-2008, 01:10 AM
 
177 posts, read 227,482 times
Reputation: 105
Obama's economy plan. He will raise taxes on incomes $250K and over. He will give huge tax breaks for puchase of solar. Over 2 million jobs will be created in alternative energy sector. McCain=Lobbyists and Obama=growth.

And PEOPLE of the United States, guess what? Taxes will need to be raised, governemnt needs to be curtailed, to help pay off the national debt. Huge debt=lower dollar
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Old 09-15-2008, 01:15 AM
 
8,758 posts, read 8,637,221 times
Reputation: 1422
Quote:
Originally Posted by walidm View Post
After Frantic Day, Wall St. Banks Falter
September 14, 2008

"In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, announced it will file for Chapter 11 bankruptcy."

Bank meltdown wallops campaigns
September 14, 2008

"Until now, the crisis seemed like a confusing Wall Street story. That all ended with the fast-moving events of Sunday, which The New York Times called “one of the most extraordinary days in Wall Street’s history.” A CNBC special report on Sunday night called it “a complete realignment of Wall Street.”

And that was before the extraordinary 9:30 p.m. announcement by the Federal Reserve of new efforts to shore up markets.

So it’s no longer an insider's game. The crisis is now at a tipping point where Wall Street will visibly affect Main Street: Home buyers, consumers and entrepreneurs will have even more trouble getting credit, slowing the nation’s job machinery."


Whoa

The next President has got one heck of a job ahead of him, and Senator McCain's judment in selecting Governor Palin just doesn't instill the confidence that they'll have the required competence or skill to navigate this mess. If you can take four more years have at it.....in the meantime - Calling Senator Obama, Senator McCain has already admitted he doesn't understand the Economy. We'll take those plans now.

I agree about needing an economy president, but why in the world do you think it is Obama? What has he ever done economically that demostrates he has any expertise? Has he ever ran anything...a company, a city, a state, much less a country. At least Palin has been responsible for running something that has a budget, employees and fiscal responsiblity. IMO, Mitt Romney is what this country needed as far as economics goes, but that is water under the bridge now.
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Old 09-15-2008, 01:17 AM
 
Location: SF Bay Area
14,330 posts, read 19,024,929 times
Reputation: 18436
Quote:
Originally Posted by walidm View Post
After Frantic Day, Wall St. Banks Falter
September 14, 2008

"In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, announced it will file for Chapter 11 bankruptcy."

Bank meltdown wallops campaigns
September 14, 2008

"Until now, the crisis seemed like a confusing Wall Street story. That all ended with the fast-moving events of Sunday, which The New York Times called “one of the most extraordinary days in Wall Street’s history.” A CNBC special report on Sunday night called it “a complete realignment of Wall Street.”

And that was before the extraordinary 9:30 p.m. announcement by the Federal Reserve of new efforts to shore up markets.

So it’s no longer an insider's game. The crisis is now at a tipping point where Wall Street will visibly affect Main Street: Home buyers, consumers and entrepreneurs will have even more trouble getting credit, slowing the nation’s job machinery."


Whoa

The next President has got one heck of a job ahead of him, and Senator McCain's judment in selecting Governor Palin just doesn't instill the confidence that they'll have the required competence or skill to navigate this mess. If you can take four more years have at it.....in the meantime - Calling Senator Obama, Senator McCain has already admitted he doesn't understand the Economy. We'll take those plans now.
McCain knows more about how much deodorant Palin uses than he knows about the Economy. He's as out of place among Economic experts as a runaway slave at a klan convention or Dubya at a Mensa gathering.

Advantage: Obama
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Old 09-15-2008, 01:25 AM
 
Location: Reality
1,049 posts, read 1,705,632 times
Reputation: 259
Greenspan: "This Week is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go."

"Indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes."

"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring."
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Old 09-15-2008, 01:29 AM
 
8,758 posts, read 8,637,221 times
Reputation: 1422
Quote:
Originally Posted by Hero View Post
Greenspan: "This Week is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go."

"Indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes."

"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring."
He should know, he's responsible for a lot of what's happening now.
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Old 09-15-2008, 01:31 AM
 
Location: Reality
1,049 posts, read 1,705,632 times
Reputation: 259
Exclamation Words on the Economy from the War Hero

"The issue of economics is something that I’ve really never understood as well as I should." (McCain - Boston Globe, 12/18/07)

Since President Bush took office, "I think if you look at the overall record and millions of jobs have been created… you can make an argument that there’s been great progress economically over that period of time." (McCain - "Money & Politics," Bloomberg, 4/17/08)

"I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong." (McCain - GOP Debate, Myrtle Beach, FNC, 1/10/08)

"Even if the economy is the, quote, No. 1 issue, the real issue will remain America’s security. And if they choose to say, ‘Look, I do not need this guy because he’s not as good on home loan mortgages or whatever it is, I understand about that, I will accept that verdict. I am running because of the transcendental challenge of the 21st century, which is radical Islamic extremism." (McCain - The New York Times, 1/28/08)

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