The candidate of change and hope, hope and change had this to say today about the economic, soup-line, Depression-era, brother-can-you-spare-a-dime, Wall Street problems; he's right about one thing, somebody was not minding the store but it was not and should not be the Federal government (as in the Fannie Mae; Freddie Mac problems).
I want to know what the hell Republican philosophy has to do with the failure of Lehman Brothers and the buyout of Merrill Lynch?!As stated on another thread today the Socialist answer to every problem like this is to have the gub-ment take over these businesses (like Freddie Mac and Fannie Mae).
This is from Breitbart.com:
Obama blames Wall St. crisis on Republican policy
Sep 15 07:26 AM US/Eastern
By TERENCE HUNT
CHICAGO (AP) - Democratic presidential nominee Barack Obama said Monday the upheaval on Wall Street was "the most serious financial crisis since the Great Depression" and blamed it on policies that he said Republican rival John McCain supports.
"This country can't afford another four years of this failed philosophy," Obama said after the shock-wave announcements that financial giant Lehman Brothers was filing for Chapter 11 bankruptcy while titan Merrill Lynch was being bought by Bank of America for about $50 billion.
Obama's statement, issued as he prepared to fly to Colorado to begin a swing through contested Western states, was intended to serve two purposes: to link McCain with the unpopular presidency of George W. Bush and to express sympathy with the anxiety of most Americans who say the economy is issue No. 1 in the election.
"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," Obama said in a statement. "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 Sen. McCain for these problems," Obama said, "but I do fault the economic philosophy he subscribes to."
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Here's the link:
http://www.breitbart.com/article.php?id=D9374EMO0&show_article=1
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