McCain Doesn't Grasp Cause of Finance Crisis

[midcan5]

I liked this.

by Andrew Greeley

http://www.commondreams.org/view/2008/09/24-2

"The spiritual heirs of Reagan are reaping the whirlwind that Reagan sowed. In charity, someone should point that out to Mr. John McCain. To modify the metaphor, the whirlwind is sweeping a lot of chickens who are coming home to roost.

Another irony in the fire is that the new incumbent presumptive, fresh from his economic brilliance in the "Keating Five" savings-and-loan scandal, continues to preach de-regulation. The causes of the present crisis, he tells us, are greed -- especially as revealed in the work of lobbyists (apparently not including those who dominate his campaign staff) -- "earmarks" legislation, intervention of government institutions like the so-called Fannie Mae and Freddie Mac bureaucracies. Moreover, the "Fed" should go back to assuring the public that the dollar is "sound," and he personally will fire the head of Securities Exchange Commission. Finally, Sen. Obama is to blame because he hasn't come up with a program of his own to match the Republican program."


A vote for McCain/Palin is a vote to continue the same economic policies that are destroying the middle class in America.

http://www.youtube.com/watch?v=j56i15Wdgok

[Joe Steel]

All he know is what Phil Gramm tells him.

[jimnyc]

I liked this.

Who gives a fuck? commondreams caters to idiots.

[PostmodernProphet]

/boggle....we certainly have discovered a couple of people who don't grasp the cause of the crisis.....but McCain isn't one of them......I won't bother repeating what is available on a half dozen threads here since I expect if midcan and jo didn't bother reading them there, they won't read them here.....

[midcan5]

LMAO - McCain hasn't been in Washington since April so what changed? He is losing, which if reason prevails will be reality, so what does he do, another goofy tactic to distract. The Moose hunter is wearing thin. And you tools buy it as the sign of a sane man. Too funny.

Instead of Greeley, check out a conservative on McSame.

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR2008092202583.html

"Under the pressure of the financial crisis, one presidential candidate is behaving like a flustered rookie playing in a league too high. It is not Barack Obama.

Channeling his inner Queen of Hearts, John McCain furiously, and apparently without even looking around at facts, said Chris Cox, chairman of the Securities and Exchange Commission, should be decapitated. This childish reflex provoked the Wall Street Journal to editorialize that "McCain untethered" -- disconnected from knowledge and principle -- had made a "false and deeply unfair" attack on Cox that was "unpresidential" and demonstrated that McCain "doesn't understand what's happening on Wall Street any better than Barack Obama does."
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To read the Journal's details about the depths of McCain's shallowness on the subject of Cox's chairmanship, see "McCain's Scapegoat" (Sept. 19). Then consider McCain's characteristic accusation that Cox "has betrayed the public's trust.""

[jimnyc]

A vote for Obama/Biden is a vote for idiots like the poster above me

[stephanie]

the Obambam is still a kindergartner Senator, and not a very bright one either..

he needs to carry a teleprompter in his back pocket in order to speak...

and people are trying to sell us that he is the knowledgeable one on how an economy of a country runs..

I wouldn't trust him with my piggybank...

and we get article after article posted here from the Washington Compost (who is in the bag for the Democrats), places like "common dreams" some far off website, and they think we are suppose to accept them as if their are the truth...

too friggin funny:laugh2:

[theHawk]

Isn't it a little rediculous to claim McCain doesn't "grasp" what is going on with the financial crysis when he pushed a bill back in 2005 to change Fannie Mae? He predicted taxpayers would end up paying alot of money because of Fannie Mae. He was right....

[Immanuel]

McCain Doesn't Grasp Cause of Finance Crisis

How many of us really do except for what we read from other people, like Andrew Greeley who doesn't actually know either?

I don't think you can put your finger on "one cause" and say that is it. Surely deregulation is a part of the problem, but I don't believe it is all of the problem. I'm sure greed had its play in there as well and competition, taxes etc. This problem didn't just come about because of deregulation.

And, to top it all off, I am fairly certain we will weather this crisis and move on to another one soon.

Immie

[midcan5]

A vote for Obama/Biden is a vote for idiots like the poster above me

You guys are making me laugh - in a good way. Is George Will an idiot? Obama has more experience than - I think it was 23 presidents so that argument does not fly. McCain reads cards when he speaks, without them he mumbles and stumbles about. Another Bush, wasn't one nitwit enough? Palin almost flunked out of school. Egads couldn't you guys have done better than this?


"It has indeed been a trying hour for the Republic; but I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working on the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war."

Abraham Lincoln in a letter to William F. Elkins, November 21, 1864.

"In 1993-94, under a unified Democratic government, the House Government Reform Committee held 135 oversight or investigate hearings. In 2004-05 under the unified Republican government, Congress held just 37." from 'The Big Con,' by Jonathan Chait.


A vote for McCain/Palin is a vote to continue the same economic policies that are destroying the middle class in America.
http://www.youtube.com/watch?v=j56i15Wdgok

[jimnyc]

A vote for Obama/Biden is a vote for racism and habitual lying.

[Immanuel]

Obama has more experience than - I think it was 23 presidents so that argument does not fly. McCain reads cards when he speaks, without them he mumbles and stumbles about.


And Obama reads from a teleprompter so what is your point?


Egads couldn't you guys have done better than this?

The same question has been asked of your side, yet your side refuses to answer.

Hell yes, they could have done better. They didn't and neither did you so we're all screwed.

Immie

[Yurt]

and what exactly has obama done during his senatorship to aleviate this?

ZERO

[mundame]

There is no use blaming anyone.

If anyone at all had thought all THIS would happen, they'd have stopped it! Or tried to.

Everyone thought all this was a great way to make money, and now they are out on the street, with their stocks worth zero.

There is no use blaming people for stuff happening that they did not expect.

[theHawk]

There is no use blaming anyone.

If anyone at all had thought all THIS would happen, they'd have stopped it! Or tried to.

Everyone thought all this was a great way to make money, and now they are out on the street, with their stocks worth zero.

There is no use blaming people for stuff happening that they did not expect.

Umm. some people DID think it could happen, and they DID try to stop it. Are you really that dense? :poke:

[avatar4321]

Isn't it a little rediculous to claim McCain doesn't "grasp" what is going on with the financial crysis when he pushed a bill back in 2005 to change Fannie Mae? He predicted taxpayers would end up paying alot of money because of Fannie Mae. He was right....

I can't help but not this point has been completely ignored here.

But of course, McCain doesnt have a clue what's going on. I doubt the people complaining about what McCain does or doesnt know have a clue what this crisis is all about.

But then it looks like McCain is just going to enact more liberal policy to "fix" the problem. So im not really sure what they are complaining about.

[remie]

Umm. some people DID think it could happen, and they DID try to stop it. Are you really that dense? :poke:

You are right. Following is a timeline of the current crisis and what the Bush Whitehouse has been saying since taking office.

http://www.whitehouse.gov/news/releases/2008/09/20080919-15.html


If you wish to blame someone there are plenty of folks to blame. President Clinton was in the big chair when Fanny and Freddie went off the reservation.