A Message from Barack Obama concerning the Economy.

[Risk44]

Friend --

The economy hit a new low this week, and in every part of the country, people like you are feeling it.

The recent financial disasters -- from the collapse of Fannie Mae and Freddie Mac to the historic drop in the stock market -- are not just a string of bad luck. They are the result of years of bad decisions made in favor of big corporate special interests instead of America's working families.

More than 600,000 Americans have lost their jobs since January. Home foreclosures are skyrocketing, and home values are plunging. Gas prices are at an all-time high, and we're still spending more than $10 billion every month on a war in Iraq that should never have been waged.

John McCain's campaign is doing everything it can to focus attention on false personal attacks and distractions -- but there's too much at stake for that kind of politics.

I need your help to get the conversation back on track.

I recorded a two-minute TV ad about our economy and my plan to solve this crisis. Please watch the ad and share it with everyone you know:

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For eight years, Bush-McCain economic policies have favored reckless deregulation and huge tax loopholes for big corporations. Now, as these corporations crumble, American taxpayers are facing costly bailouts.

More of the same failed ideas are not going to solve our economic problems.

I'm calling for a $1,000 tax break for middle-class families -- not just because they need help dealing with the rising costs of gas, food, and health care, but also because our economy needs to be reinvigorated from the bottom up, not the top down.

I'm proposing a second stimulus package to save over one million jobs and provide immediate relief to struggling families.

And I'll end the "anything goes" culture on Wall Street with real regulation. We can see clearly that our economy is stronger when we protect investments and pensions, and avoid devastating bankruptcies and bailouts.

This is no ordinary time, and it shouldn't be an ordinary election. Help keep the discussion focused on the issues.

Please watch the video and share it with your friends today:

http://my.barackobama.com/economyvideo

Thanks for helping to bring the change this country needs,

Barack

 

[tocco05]

His top economic advisors are from Freddie and Fannie. Change you can believe in my ass!!

 

[Risk44]

His top economic advisors are from Freddie and Fannie. Change you can believe in my ass!!

If tighter lending standars were enacted by the Republicans since they have been in control so long then this probably wouldnt have happened to all of these mortgage giants but since The GOP likes to give Free Reign to businesses : Fannie and Freddie arent the first and will not be the last..

 

[tocco05]

If tighter lending standars were enacted by the Republicans since they have been in control so long then this probably wouldnt have happened to all of these mortgage giants but since The GOP likes to give Free Reign to businesses : Fannie and Freddie arent the first and will not be the last..

Blame Clinton and his policies of letting people that have no business getting loans and buying houses. It was a minority thing!! Like it always is. Let;s give things to people who don't deserve them. Clinton was a fucking disgrace. Even Robert Reich said, in the later years of the Clinton administration, anyone could get a loan. And if the republicans would have brought a bill stating low income families couldn't get these loans, all you fucking libs would have screamed racism, like you guys always do.

 

[Risk44]

Blame Clinton and his policies of letting people that have no business buying houses. It was a minority thing!! Like it always is. Let;s give things to people who don't deserve them. Clinton was a fucking disgrace.

I think that most of the People who bought the houses bought them within the past 8 years... Under Dumbyas administration. The people that bought the Houses bought them with A.R.M's that changed after a year and their payments skyrocketed.. The Banks were the ones loaning out the money, The Realtors, The Loan Officers, The Construction Companies... All Traditionally Republican Entities -They were all in it together, now they are paying for it..

 

[tocco05]

I think that most of the People who bought the houses bought them within the past 8 years... Under Dumbyas administration.

Wrong again. Plus the laws Clinton had were that basically if you were able to walk upright into a bank they would give you money.

 

[Dave007inVegas]

If tighter lending standars were enacted by the Republicans since they have been in control so long then this probably wouldnt have happened to all of these mortgage giants but since The GOP likes to give Free Reign to businesses : Fannie and Freddie arent the first and will not be the last..

You and Gtc should compare notes before you post. Here’s the real culprit.
As Chairman of the House Financial Services Committee, Frank "sits at the center of power".[25] Thomas Mann, a senior fellow at the Brookings Institution, was quoted as saying, "He is one of the giants of Congress, a real legislator," in his new role.[25]
In 2003, Frank rejected Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. [26] Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.[27] "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."[28]

 

[Risk44]

You and Gtc should compare notes before you post. Here’s the real culprit.
As Chairman of the House Financial Services Committee, Frank "sits at the center of power".[25] Thomas Mann, a senior fellow at the Brookings Institution, was quoted as saying, "He is one of the giants of Congress, a real legislator," in his new role.[25]
In 2003, Frank rejected Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. [26] Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.[27] "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."[28]

Yeah... So you are telling me that the GOP wanted to Regulate these banks more and being for "less government" wanted to creat a new agency that would have assumed supervision over Fannie and Freddie? Why didnt Bush PUSH IT THROUGH THEN? At THE TIME HE CONTROLLED THE HOUSE, THE SENATE AND THE PRESIDENCY..

But you gotta blame the Dems right? Cuz you cant ever admit fault..

If you believe that then Ive got a bridge to Nowhere to sell ya... :lol: