Wednesday, September 17, 2008

Wall Street in the Toilet

As you may have heard, The Lehman Brothers, a powerhouse investment bank, filed for bankruptcy.

Also, Merrill Lynch, was gobbled up and taken over by Bank of America.

The Feds are going to bail out AIG, dishing out 85 billion dollars.

The DOW dropped a staggering 504 points the other day and 449 today. According to the Stock Trader's Almanac, this month has been the worst month for the Dow and S&P 500 since 1950 and the worst month for the Nasdaq since it first started in 1971.

Our next president, Barack Obama, said that the Bush administration has, "brought us the most serious financial crisis since the Great Depression."

In regards to GOP puppet John McCain, Obama said, "I certainly don't fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It's a philosophy we've had for the last eight years - one that says we should give more and more to those with the most."

A few hours after hearing Obama's words, McCain responded by saying, "First of all a little straight talk... Our workers are the most innovative, the hardest-working, the best skilled, most productive, most competitive in the world. That's the American worker. And my opponents may disagree, but... I think they're strong."

You think they're strong John? Good for you.

That they may be, but first, you can't just say they are the best and most competitive and this and that and the other thing. People work hard all over the world.

Today, Joe Biden attacked McCain for being very out of touch. I couldn't agree more. He is 72 and running for leader of the free world. I want my president to know how many homes he owns and how to send an email. Also, it would be nice to have someone who didn't stay by Bush's side 90% of the time.

McCain calls for tougher and more regulated rules on Wall Street. Hypocritical from how he has always been one to stand up for deregulation. He goes back and forth like a child on a swing. Whatever is happening in the world around him, he sides with the majority, regardless of what he has stood for and preached in the past.

He keeps saying how he and his religious-nut running mate are going to 'shake things up' in DC.
What has McCain been doing for the past 26 years in Washington?

The world will feel the pain of this financial crisis for a while, and it's going to take some time to fix. In the meantime, let's work on getting someone into the White House that will actually do something. Not a silly puppet like John McCain who will say whatever he is told to say by the ventriloquist that is the GOP.

1 comment:

Jorge said...

Well saind my friend. Thanks for the update its hard to keep up with these things from where i am at.

Peace love and power