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This bodes poorly for Mr McCain since a) voters associate him with George and b) voters believe Obama is the better candidate to deal with an economic downturn...
Of course we will find out in 3 weeks if the Fed Reserve news impacted the election..
The banks were bailed out because of the people who defaulted on their mortgage loans. If the people paid their monthly mortgages, then there would be no need to bail the banks and there would be no crisis.
Uh, hello, the American people have felt like we've been in a recession since the summer. So, why on Earth would you think that some "official proclamation" will change anything?
obama cannot and will not fix the problems caused from many , many years of mishandling! Way before the Bush years problems begun.
obama is not running against Bush, people need to think about that. McCain can and will do a much better job then will obama.
What the hell has obama ever run to prove to you that he can change America? He never ran a thing!!
Also obama is the one with ties to so many horrible people that its scary, Rev Wright! Ayers, acorn, Wall street crooks! Problems, terrorists, racists, and crooks are all way to close to obama!
Vote wisely! This is not a time for a change in the liberal direction.
Vote for McCain/Palin to repair and bring America back to life!
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
and predict that the taxpayers are exposed to the ENORMOUS risk that Fannie Mae/Freddie Mac pose to the economy as whole -----
If McCain is at that level of knowledge, then the democrats must be really dumb with the economy.
ECONOMY KNOWLEDGE SCALE
* * * * * Outstanding
* * * * - Above Average
* * * - - Average
* * - - - Below Average (McCain/Republicans predicted Fannie Mae/Freddie Mac as risk to the economy)
* - - - - DUMB (DEMOCRATS said there is nothing wrong with Fannie Mae/Freddie Mac)
The banks were bailed out because of the people who defaulted on their mortgage loans. If the people paid their monthly mortgages, then there would be no need to bail the banks and there would be no crisis.
That is a very simplistic, not to mention incorrect, explanation of the current economic crisis. The housing market collapse you are referring to is an important component, yes, but not the whole story. You have to start looking at how accountants and executives at some of these large firms let their balance sheets get so large and out-of-control.
An economics professor of mine gave the perfect analogy when explaining how economists try to find the cause of economic crises. It's like a ship with rot. The more you look, the further down the cause lies.
It's the same with this situation. We look at data, and find problems in different sectors, but are not sure if they are merely a symptom of another problem, or are the root cause themselves. We won't know the full story until well after this global meltdown is over.
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mcCain/Palin 2008 for a safe Change
