Obama and McCain Are Slow off the Mark on Financial Crisis
Reader Comments
the last 8 yrs
are we better off today than we were 4 & 8 yrs ago ? I think not ...I see McCain & then saw Romney in Detroit on TV this wk..WHAT happened to Romney? did he leave the presidential race EARLY ? think so after he spent 45 million of his own money..quite a difference America betw McC & Romney..Romney is so vibrant young on top of things smart & very intelligent @ business..etc..but his 5 sons have never been to WAR & that bothers me..so what is our choice..let's see debate tonight Friday 9/26 @ 9 pm EST,,,,there is no perfect solution..our taxes may rise..too many problems in this country..WHAT HAPPENED ? did GW Bush tke too many vacations ? wntire Wash dc needs to be cleaned out just like the city of DETROIT ..where are all the honest hard working people of today?,,so sad for us the working people..even our Obama signs were stolen..4 yrs ago Kerry signs were stolen..in the 40's & 50's we NEVER would walk on other peoples property & steal smthing..police issued a warning::30 days in jail $$300 fine !..where is the INTEGRITY today ?..
whoever wins
whoever wins..this will not be easy..do not expect miracles...we need new blood in Wash., DC..let's give the Democrats a chance & be patient !..tonight is the 1st debate..McCain will appear old & probably has a little dementia..his left eye is creeping down..he has spent more than $5500 on IDOL's makeup artist to follow hm around..hard to believe more than 7 houses & 13 cars/only 1 American/ after he lied & said "I only buy American cars"..how many Melanoma cancer scares four?....he is a spoiled brat..cheated on TWO wives & left the 1st wife after her 23 surgeries...who am I to jusge,,but I lived thru the 1930 depression/herbert hoover/ & the neighbors were giving my parents $1.00 a wk to survice..our house payments were $10.00 a mo..we survived, barely...be careful Americans..Obama grad. @ the TOP of his class @ Harvard .....I have FAITH in hm & the decisions that he will make...God Bless America ! PEACE !!..
Democrats in Congress and Bill Clinton relaxed lending stardards in the years ago so low income people with bad credit could buy houses with no downpayment, poor credit and no proof that there income was enough to afford the house.
Just Google old newspaper articles or the Congressional Record.
"A brief history of the Fannie Mae and Freddie Mac mess is in order. Back in the days when a Bank or Savings and Loan approved a home loan, they did so with lending standards that had historically led to only safe loans. They had to because they kept the loan and were responsible if it failed. These standards included 3 major parts.
First, the mortgage payments could be no greater that a set percentage of your income, usually about 40 percent.
Second, a down payment was required of about 10 percent or above so the new owner would immediately have some equity in the home.
Third, A good credit rating was required to prove you had a history of paying your bills.
Some adjustments could be made, for example people that had poor credit could get a loan with a larger down payment so if the loan failed, the bank could still resell the house and cover the loan."
http://strategicthought-charles77.blogspot.com/2008/09/democrats-created-fannie-mae-and.html
Stop and think is important
hasn't hast put us in this postions? maybe thinking about the whole picture is better then jumpping to solutions, I think Obama is better suited for this complexity, because the man thinks and we need someone that thinks in the WH. we already have one stupid president there america can not afford another one there. The thing that scare's me is these hypocrites in republican party and they get away with it.Look how blantly Palin lies and these so called Christain still praise her?? Women if you are thinking about voting for Mcshame and Palin just remember you are taking us backwards not forward, we will lose so much of our rights, she dose not belive in equal pay for women and wants to take our rights away. I not for abortions but I also belive in our rights, we are not here to judge that is between God and the person.God knows what is in your heart he is the one to tells us if we are right or wrong not our Goverment, seeing how much they lied to us. Can you people how a republican got us to war under a HUGE LIE?? The republicans are so good at turning truth around for their own gain. Look what Mcshame did picked this person for his own gain not for his country. Sold his intigrity and soul. So Mr.Obama you have my full support because you think and you care for the american people you could of picked Hillary knowing you would of won, you also knew the republicans would of really smeared her and Bill because of thing they have on them, but thought of a man who could step in and know what to do seeing he has more experience then anyone eles on ticket. Thank you for thinking of your country frist. Christains for Obama He is a true Christain. Not a hypocrite,
Thoughtfulness vs. Action
Although thoughtfulness is important for critical issues, we also need someone with experience who can make decisions quickly in the face of a crisis. Obama does not have the experience and the instincts to make important decisions under pressure. Why else the ongoing need for a teleprompter and 300 advisors?
...old rules
The most cogent and lucid explanation of the current state of financial distress. thank you
There are times when silence is prudent - wise.
The gravity of this economic crisis requires good judgement. As usual the Republican candidate, trying to be FIRST to come up with something/anything opened his mouth without understanding the issue, without assuming responsibility for his part in creating it (Chairman of the Commerce Committee 1997-2005 & associated with the former Senator Phil "nation of whiners" Gramm who crafted the legislation that deregulated the banking/financial institutions & created the environment for oil speculation resulting in the high prices, and who McCain wants to name Secretary of the Treasury) and, so ... he looked foolish, reckless, irresponsible,and just plain incompetent. It is frightening to think this person is a breath away from the presidency.
Obama's "skill set"
What are they exactly, Obama's "skills"? Take away Obamaphiles' teen-like infatuation over Barack and what's Left? Obama is a pseudo-intellectual pinhead, a front for the pseudo-intellectual doctrinaire Liberals/Leftists who back him. If you like what their govt.-mandated social engineering has done for the mortgage business and housing values you'll luv what Obama promises to do for our health care or our ongoing need for oil. These folks don't live in the real world. They live in think tanks, universities, and as we find out in the DCBorg, mucking everything up as fast as they can with endless experimentation on our tax dollars and lives. Obama naturally attracts those with holes in their lives, holes Obama fills with future tales of a Federal guvmint that will force the "rich people" to give you what you are unwilling to strive for on your own. Got Problems? Years ago "that was Life, then you died". Today it's the opening Democrats use to dredge up every failed American-socialist wet dream known to man. But as polls show, Americans who want guvmint to insure their happiness are in the many millions. The spoilt Baby Boomers {so as not to paint All boomers the same} are at the front, leading the charge for a guvmint they can believe IN, much like the clingers except that they happen to believe IN God. Boomers resist changes to Social Security because it Might affect their own bottom line in retirement-forget that future workers will be literal slaves to a system that will require 2 workers to support one boomer. The country is on the verge of becoming a nation of Gimmes. We'll see this November if we've reached the tipping point, where the whiners push the pop-cultured Obama over the top. We'll then be guided by pop-culture's definition of "conventional wisdom", which has an equal seat at Obama's table along with his Leftist pinhead buddies.
Political cronies
If you want to scrutinize every single person connected in any way to the presidential campaigns, let's face it people, there is plenty of financial hanky panky to go around. Unfortunately, that's politics. The question has suddenly gotten a lot more important, with the potential collapse of our whole economy. For me it comes down to who is the innovator, and who has the makings of a leader who can put aside partisan goals and lead us toward a better future. John McCain has some fine qualities, but Barack Obama has the skills we need. I know he will assemble a truly distinquished team and be a truly great president.
