This is a time for leaders to keep their cool..to pretend if they have to, that they are the wise Winston Churchill that held his country together during WW2..His voice on the radio going out to the people that they would make it..that there was hope..that they would win! We need some positive input from a leader, not just rhetoric of the doom and gloom! Oh I forgot, we do not value the wisdom of age and experience in this country.
We need someone that will stand up look for the solutions, not rashly as some. We know the problem. One question is how do you prevent this in the future. We need reform. Not hasty know it all arrogance.
The question is:Will we bear the pain as our parents and grandparents did in an earlier generation to sacrifice the immediate for the long term good of the country and yes, for our children and grandchildren. Are we willing to look at the issues and our biblical values and put our country first and foremost? Yes, those are the questions we face today.
Ross Perot predicted a lot of what we see happening when Nafta was being touted as the way to go. Don’t get the impression that I am not for free trade. I am. I do think we left the plug on the sink open as far as American jobs were concerned. In fact, I think China has become us and we are becoming China in many ways. We also had the opening to what would become the Enron Scandal in 98 or 99. Heck, even old Ralph Nader predicted this about 10 years ago. So, the sink has not only overflowed..it has flooded the house. But remember, there is always hope. Hope for Country first..we can build that dam stronger than before, so most in the future are protected from the flood of greed.
There are several links below that you may find of interest in the financial realm.
First, I was sickened by the discussion below:
OBAMA TEAM WANTS ‘HORRIFIC ‘ WALL STREET HEADLINES FROM CNN
If Crowley is correct, it would appear that Sarah Palin’s comment “some use change to promote their carreer..while others use their carreers to promote change.” is right on target! I think I prefer the statement McCain made when he was fighting for the surge in the Senate, that he would rather lose an election than to lose the war.
Do you think the recent stock market collapse or troubles in the banking system are good news?
Well, according to CNN’s Candy Crowley, the Obama campaign does.
On Monday’s “Anderson Cooper 360,” after CNN senior political analyst David Gergen said “what happened over the weekend with the economy and the bottom falling out of the financial markets…is the opportunity for Obama to seize the momentum back on his side,” Crowley actually said, “[J]ust as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street…I mean, this is what they wanted.”
I kid you not. The transcript of this disgraceful exchange follows
DAVID GERGEN, CNN SENIOR POLITICAL ANALYST: But what happened over the weekend with the economy and the bottom falling out of the financial markets — and we have been saying for some time on this program this is the worst financial crisis since the Depression — Alan Greenspan said on Sunday the worst economic situation he’s seen — it seems to me that there’s a real turning point now, that that momentum on McCain’s side is likely to fade. And there is the opportunity for Obama to seize the momentum back on his side. I don’t know if he’s going to do it or not. He is trying. McCain has an opportunity here as well. But there’s no question right now that this — this really dark economic situation is now going to be — is going to really — is going to, I think, blot out a lot of this question about who — the backing-and-forthing and the advertising, and focus on the issues.
ANDERSON COOPER, HOST: Right.
GERGEN: And that’s what — that’s what Obama has wanted to do. He’s now got the opportunity.
I think, personally, he’s got the critique down, but he still hasn’t provided a message about what he would do, nor has he really surrounded himself, in the way he needs to, with the Bob Rubins and the Paul Volckers and the Larry Summers and Laura Tysons, and have them as a tight unit. I think he still has to do that.
COOPER: Candy, no doubt — very quickly — on the campaign trail, it obviously played a big role today. You anticipate, in the days ahead, issue number one, it’s going to be front and center?
CANDY CROWLEY, CNN: Oh, absolutely.
I mean, listen, just as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street.
CROWLEY: I mean, this is what they wanted. They believe, of course, that the economy is one of their strengths and that they can paint John McCain as George Bush.
Isn’t that nice? The nation’s banking system is collapsing, and members of CNN are not only discussing how it helps Obama, but are admitting that this is what his campaign wanted.
Source—Noel Sheppard is the Associate Editor of NewsBusters.
Let’s look at some financial headlines
McCain, who has been dogged by his comment that he’s not an expert on the economy, told CNBC: “I understand the economy. I was chairman of the Commerce Committee that oversights every part of our economy. I have a far, far longer record of addressing these issue than my opponent does. And I certainly don’t think we should raise taxes in these difficult times.”Read the rest of this story here
FDIC monitoring impact… excerpt below
WASHINGTON, Sept 15 (Reuters) – The Federal Deposit Insurance Corp is closely monitoring the market situation and has taken steps to mitigate any impact on insured banks resulting from Lehman Brothers Holdings Inc’s (LEH.N: Quote, Profile, Research, Stock Buzz) bankruptcy filing, the agency’s head said on Monday.
Fed Leaves Key Rate Unchanged Excerpt below:
Note: We have a couple of posts on the Federal Reserve, one made into a page at the top of the blog.
If the market turmoil and other forces hitting the economy result in weaker growth than the Fed is expecting at the moment, Jones said he still believed the central bank will implement two quarter-point rate cuts before the end of the year.
The Federal Reserve kept a key interest rate unchanged Tuesday, saying that strains in financial markets have “increased significantly” but that it would keep an eye on them and act, if needed.
The central bank said it was keeping its target for the federal funds rate, the interest that banks charge on overnight loans, unchanged at 2 percent.
Now on a serious note:
I heard that Obama was offering free lipstick to all that vote for him..eh? Suppose it’s the lipsticks sent to his Campaign headquarters? The used lipsticks? thought I had better add that this is a joke..the lipstick thing uh huh! That’s a little bit of my bad sarcasm! LoL!