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"This morning we woke up to some very serious and troubling news from Wall Street.
The situation with Lehman Brothers and other financial institutions is the latest in a wave of crises that are generating enormous uncertainty about the future of our financial markets. This turmoil is a major threat to our economy and its ability to create good-paying jobs and help working Americans pay their bills, save for their future, and make their mortgage payments.
The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren’t minding the store. Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression.
I certainly don’t fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It’s a philosophy we’ve had for the last eight years – one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else. It’s a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises.
Well now, instead of prosperity trickling down, the pain has trickled up – from the struggles of hardworking Americans on Main Street to the largest firms of Wall Street.
This country can’t afford another four years of this failed philosophy. For years, I have consistently called for modernizing the rules of the road to suit a 21st century market – rules that would protect American investors and consumers. And I’ve called for policies that grow our economy and our middle-class together. That is the change I am calling for in this campaign, and that is the change I will bring as President."
Seriously, I hate the notion that every single thing that has gone wrong is to be blamed on "the last 8 years" implying that its all GWBs fault. I mean I agree the guy wasnt the best president...not even close, but come on already. We have some seriously messed up financial situations here, and ones that will likely get worse. Does Obama really think blaming GWB is of any help right now? Did we not have any democrats in office the last 8 years who contributed to this disaster?
Its time both Democrats and Republicans stop with this BS and come up with solutions instead of clever ways to point the finger at someone else.
"This morning we woke up to some very serious and troubling news from Wall Street.
The situation with Lehman Brothers and other financial institutions is the latest in a wave of crises that are generating enormous uncertainty about the future of our financial markets. This turmoil is a major threat to our economy and its ability to create good-paying jobs and help working Americans pay their bills, save for their future, and make their mortgage payments.
The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren’t minding the store. Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression.
I certainly don’t fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It’s a philosophy we’ve had for the last eight years – one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else. It’s a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises.
Well now, instead of prosperity trickling down, the pain has trickled up – from the struggles of hardworking Americans on Main Street to the largest firms of Wall Street.
This country can’t afford another four years of this failed philosophy. For years, I have consistently called for modernizing the rules of the road to suit a 21st century market – rules that would protect American investors and consumers. And I’ve called for policies that grow our economy and our middle-class together. That is the change I am calling for in this campaign, and that is the change I will bring as President."
Way to tell 'em, Obama.
While the village idiot lied to go to war, wasting trillions of dollars and neglecting the domestic agenda, McCain staggered behind in a stupor in full support. Apparently, McCain was drop-kicked so many times as a POW that he can't even spell "Economy." I for one don't want another psychopath in the White House who spells everything the same -> "W A R."
Seriously, I hate the notion that every single thing that has gone wrong is to be blamed on "the last 8 years" implying that its all GWBs fault. I mean I agree the guy wasnt the best president...not even close, but come on already. We have some seriously messed up financial situations here, and ones that will likely get worse. Does Obama really think blaming GWB is of any help right now? Did we not have any democrats in office the last 8 years who contributed to this disaster?
Its time both Democrats and Republicans stop with this BS and come up with solutions instead of clever ways to point the finger at someone else.
Maybe Obama should give back ALL the contributions made to his campaign from Wall Street.
While the village idiot lied to go to war, wasting trillions of dollars and neglecting the domestic agenda, McCain staggered behind in a stupor in full support. Apparently, McCain was drop-kicked so many times as a POW that he can't even spell "Economy." I for one don't want another psychopath in the White House who spells everything the same -> "W A R."
Pretty irrational post. If you really believe that only one party, and the current POTUS are completely responsible for this mess, you have definitely been consumed completely by partisan politics. This is a bi-party disaster, nobody is free from blame.
Maybe Obama should give back ALL the contributions made to his campaign from Wall Street.
Maybe Bush, Cheney, and their conservative oil buddies can give some of those enormous profits they enjoyed as a result of their warmongering activities.
Maybe Bush can urge McCain to stand aside since he obviously also is part of the problem.
I bet Palin isn't able to recognize or tell a Wall Street from Picabo Street.
Pretty irrational post. If you really believe that only one party, and the current POTUS are completely responsible for this mess, you have definitely been consumed completely by partisan politics. This is a bi-party disaster, nobody is free from blame.
Good luck trying to convince certain people here of that notion. Flat tire, Bush's fault. Grocery out of bean sprouts, Bush's fault. A bug in your mouth, Bush's fault.
This is the fault of bad legislation that began before Bush was ever nominated. It's the culmination of too much cheap credit available, wasteful spending, bad bookkeeping, and manipulation of the so-called free market. I'm sure others can place blame more succinctly than me.
Yes...everyone's mortgage problems are Bush's fault. Not the fault of people who made greedy, irresponsible decisions. We didn't watch over and baby people who didn't feel like doing math or reading the fine print.
My dog got sprayed by a skunk last night. I wonder if Obama can somehow make that the republicans' fault, too...?
Yes...everyone's mortgage problems are Bush's fault. Not the fault of people who made greedy, irresponsible decisions. We didn't watch over and baby people who didn't feel like doing math or reading the fine print.
My dog got sprayed by a skunk last night. I wonder if Obama can somehow make that the republicans' fault, too...?
The blame falls in the hands of the mortgage companies who are now laying in the beds they made. There is partial blame on the administration in regards to not regulating the industry.
One of Bush's goals was to have his legacy include "ownership". More people buying homes than ever before and while a good goal, it came back to bite everyone in the a$$ thanks to....once again.....$$.
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