We Interrupt This Election .....
McCain is suspending his campaign tomorrow and requesting the Debate on Friday be postponed. Obama's Hollywood writers are currently drafting what Obama will read off a teleprompter in front of cameras in moments. All this because of corporate and political greed and the political pressure of an election rushing the desire for a "bailout" before Congress recesses.
My novice opinion is that some bank boards fiddled while their Rome's burned. Some politicians forced some banks to take loans that were guaranteed to fail and encouraged people to buy into housing they could never afford. And yes, some less fortunate Americans or fiscally careless one's with Godawful debt to credit ratios lied/misled closing agents and got into loans the could never fulfill. Some agents misled uninformed buyers.
Greed knows not of income level. Rich and poor can both be greedy. The housing market collapse is the perfect example. Everyone was trying to get rich off honest people. In the end, it will cost this nation dearly. Whether through bailout, or natural market retraction and correction.
Frankly I am not sure what to make of this move by McCain. Sure it puts Obama on his heels, but also runs the risk of having him upstage McCain. That's a slim chance, but the economy is not exactly McCain's strong point. We all know Obama is in over his head when it comes to detailed monetary policies. Fact is about 99.5% of Americans are under qualified to write this deal.
Most of us just repeat what the smartest sounding person says, but Obama thinks the road to financial solvency is paved with ACORN employees and pamphlets. Who knows what will happen or where this will go. But you can bet the media is scrambling to calculate how in the world to save Obama.
As I write this, ABC is reporting that Obama has refused to postpone the debate.
My novice opinion is that some bank boards fiddled while their Rome's burned. Some politicians forced some banks to take loans that were guaranteed to fail and encouraged people to buy into housing they could never afford. And yes, some less fortunate Americans or fiscally careless one's with Godawful debt to credit ratios lied/misled closing agents and got into loans the could never fulfill. Some agents misled uninformed buyers.
Greed knows not of income level. Rich and poor can both be greedy. The housing market collapse is the perfect example. Everyone was trying to get rich off honest people. In the end, it will cost this nation dearly. Whether through bailout, or natural market retraction and correction.
Frankly I am not sure what to make of this move by McCain. Sure it puts Obama on his heels, but also runs the risk of having him upstage McCain. That's a slim chance, but the economy is not exactly McCain's strong point. We all know Obama is in over his head when it comes to detailed monetary policies. Fact is about 99.5% of Americans are under qualified to write this deal.
Most of us just repeat what the smartest sounding person says, but Obama thinks the road to financial solvency is paved with ACORN employees and pamphlets. Who knows what will happen or where this will go. But you can bet the media is scrambling to calculate how in the world to save Obama.
As I write this, ABC is reporting that Obama has refused to postpone the debate.
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