How McCain, Obama Would Fix Wall Street

Rick Newman

Hey Mr Rick Newman

Why don't you try analyzing the canidates proposals in a unbias manner instead ot try to sway the common man towards your political canidate choice for president. You failed to mention that Obama has taken his financial adivice on the economy from those very executives responsible for running Fannie Mae and Freddie Mac, including Mr SEC himeself Chris Fox. Please Mr Newman, you embarris yourself as a jounalist by not providing all the facts.

of LA @ Sep 29, 2008 22:45:15 PM

McCain's First Big Test

This was John McCain's first big test - and he failed it miserably. Last week he charged into Washington to "save" the Bailout Plan, rally his Republican Party and "take charge". But his 26 year association with the Republican congress meant nothing to more than 2/3 of his pears. The Republicans in congress not only slapped John McCain and President Bush in the face with their 2/3 vote against the Bailout Plan, but they graphically demonstrated what they think of John McCain's leadership - NOTHING! But unfortunately they also demonstrated a blatant disregard for the all working class Americans, especially the soon to retire Baby Boomers who really lost on their 401Ks, Mutual Fund savings and their home loans and fading equity. When I ignored Obama's debate observation that John McCain didn't say "Middle Class" one time during the debate, I was very wrong - the entire Republican Party has a huge distain for the common, everyday working class American - today I change my vote - and party.

Richard Sanders of KY @ Sep 29, 2008 22:28:27 PM

Bailout for the Middle Class

The Middle-Class that are still in their homes and fighting to keep them should get some relief. I believe if the mortgage companies had resolve the problem by placing what a loanee owes on the back-end of the loan and re-ammending the loan at a lower interest and afforable fixed rate, they would still be in business and some people would still have their homes. But the greed of these corporations is so heartless. I don't agree to the bailout unless it is for everyone that owns 1 home only should have the bailout. Certainly, they would be out spending and driving the market back out in no time. I have not calculated this in a long term way but, neither has our head of state.

Miche of CA @ Sep 29, 2008 22:20:34 PM

Current Bank Crises - Put the blame where it really belongs

It would seem that everyone wants to point a finger at 'the other guy' did it. Why hasn't anyone stated the obvious? Our government is just as culpable in this mess as 'Wall Street', or lending agencies. Ask who it was that purposed new and 'improved lending practices that have lead to all this 'bad debt'. I quote from a recent article by Ann Coultier;

“Under [Bill] Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton’s secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low- to moderate-income borrowers by the year 2001. Instead of looking at ‘outdated criteria,’ such as the mortgage applicant’s credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named ‘Caylee.’ Threatening lawsuits, Clinton’s Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn’t a joke—it’s a fact. ... In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration’s affirmative action lending policies as one of the ‘hidden success stories’ of the Clinton administration, saying that ‘black and Latino homeownership has surged to the highest level ever recorded.’ Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses. A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it’s gone off.”

And now we are supposed to trust these idiots in congress again?

John Iden of CO @ Sep 29, 2008 21:47:19 PM

Obama and the bailout!!!!!!!!!

Why hasn't our candidate, Barack Obama found a pulpit or Press conference and tell us what we, his supporters should be doing and thinking about the bailout? Is he for it? Could it be better? Why isn't he composing a bilout plan of his own?

Neither one of the candidates are standing up at home plate to tell us what the best thing to do before we all thunderously crash..

Barbara Claman of CA @ Sep 29, 2008 21:36:20 PM

United states Financial problems

The smartest move for the US government is to bail out every taxpayer who owes a mortgage to a lending institution. If we little people could pay off our excessive mortgage payments that have been imposed in order to own our homes, we could spend our wages in means that would help to stabilize our economy. The politicians would never do this, however, because there is no loophole in which they could legally steal all our money. Simple solutions and common sense waved bye bye in Washington long ago. Our founding fathers would personally execute most politicians today for treason!

Micheal Hudspeth of AR @ Sep 29, 2008 21:31:04 PM

Our Historic Two Weeks...Why We Are So Exhausted

Its been going so fast and furious that many of you may not really know what it is that makes you feel so drained right now. Alot of you have fought in campaigns before, but this seems like more than the usual 4th quarter blues.

Well, I gave it some it thought. Let's review.

I think it is safe to say that the Democratic party was generally happy and energized after their convention. Glowing, crying, hopeful.

Almost immediately after, Gustav was brewing out in the Caribbean and had already killed some people. The storm was bearing in on the coast of the U.S. and millions were evacuated. You couldn't be human, or part of the movement to elect Obama, if you didn't identify with all the unfortunate people that had to pack up, leave, and spend money just to find a space to sleep, find gas, etc.

Then, with that low lying anxiety, and with Ike on the way, Bush jumped out of the circle and ran to Texas as the Republican convention started to "oversee things from there." We were robbed of our ability to see the incumbent standing next to one of his biggest supporters, proving to everyone watching that McCain would be more of the same.

Instead, we got a surprise distraction and a rollercoaster ride. An unprecedented number of people started very actively arguing about politics. It wasn't a fair fight. They're shorter, so there were alot of low blows.

Then the nation watched as Ike began to bear down. Barack canceled what was to be his Saturday Night Live appearance. (Now that just wasn't fair! I was really looking forward to that). But it was o.k., we were doing the right thing. Ike was on its way and, in a rare natural metaphor, was the size of Texas. No matter where it hit the U.S., work was going to have to be done to help alot of people.

No details needed. Wipeout. Same time, Palin was doing her press junket, shaking hands, and making friends. Miraculously, the other team seemed to start to take the lead.

The weekend was sleepless for alot of us. I don't know about you guys, but at this point I was glued to my computer, reassuring friends the polls were going to prove wrong, feeling it in my gut, which was also full of coffee and fast food.

Monday morning we woke to the news that Wall Street had lost two of its major brokerage firms. Lehman Brothers filed for bankruptcy after the government refused to bail it out, and Merrill Lynch employees bit their nails.

Barack had to swat some flies away (literally and figuratively), but the tables were turning.

Then, Bank of America bought Merril Lynch in a quickee deal and the stock market responded with a huge sell off, down 504 points for the day. There were fears about Washington Mutual, Morgan Stanley and other firms, so financial stocks tanked. Markets around the world took a beating. If you didn't know, trust me, we really wiped out everybody. Some of the markets weren't even able to reopen. AIG was ....

Full Article: http://concernedmilf.blogspot.com

See P.S. for S.P.

ConcernedMilf of HI @ Sep 21, 2008 21:14:50 PM

OBAMA OBAMA OBAMA AMERICA WAKE UP. This is the one for CHANGE let take back this country and start feeling some of the so called american dream, the last 8 years have been hell, with republicans at the helm,,, let try something new and better...OBAMA AND BIDEH NOVEMBER 4TH 2008.THANKS

of @ Sep 21, 2008 17:17:42 PM