Obama: McCain would gamble with economy

In a few weeks we will make a choice that will decide our future. I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly. Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States. The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.

When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Let's teach him we are smarter than that .
Hold them accountable NOW! while it will still help.
Elect Obama Biden 2008

No to McCain, I would never vote for a traitor! Yes I said it, as defined by Webster "one who betrays another's trust or is false to an obligation or duty"! That is what he did in Nam and that is what he will continue to do to this country.

I was in the military, YOU DONT TALK PERIOD!

That is why his own father never truely forgave him when he came home.

Go Obama

Thank you Pelosi for sinking Wall Street! You and the Democrats failed the leadership test. You are a disgusting human being!! You can't set aside partisan politics for one lousy second. You are sick, sick, sick.

Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source.

"Pelosi's partisan speech has caused our members to go berserk and may cost us any remaining chance to pass the bill," the source said.

Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the "failed economic policies" of the last eight years.

"When was the last time someone asked you for $700 billion?" she asked. "It is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies — policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system."

GD DEMOCRATS CAN'T KEEP THEIR PARTISAN MOUTHS SHUT!! PELOSI NEEDS TO LEARN LEADERSHIP SKILLS AND WORKING ACROSS THE AISLES FROM MCCAIN!!

Several Republican aides said House Speaker Nancy Pelosi, D-Calif., had torpedoed any spirit of bipartisanship that surrounded the bill with her scathing speech near the close of the debate that blamed Bush's policies for the economic turmoil.

Without mentioning her by name, Rep. Adam Putnam, R-Fla., No. 3 Republican, said: "The partisan tone at the end of the debate today I think did impact the votes on our side."

Pelosi Kills The Bailout Bill!!!

Pelosi can't keep her mouth SHUT and rips into Bush's economic policies.

Not surprisingly she loses any Republican support.

What an a-hole!!! No Leadership skills whatsover!!! This is exactly what you can expect by Obama-Pelosi-Reid.

When we, the people of the United States, vote this November will be voting for much more than the names on a ticket. It wont be just McCain/Palin? or Obama/Biden. We will say how disgusted we are with the use of our hard earned money by the government, how hurt we are by the incompetent politicians in Washington, how fed up we are with the whole system that forgets the fundamental principle of our democracy: elected officials are elected to SERVE the people, not to serve themselves.

This November we will send a message that wont be forgotten. Just watch!!

..THANK YOU. From the bottom of my heart. Don't take from Main Street to give to Wall Street! If Nancy Pelosi killed this evil bill, then she deserves the thanks of a grateful nation.

As for blaming George W. Bush's policies - well, as Colin Powell told him, "you break it...YOU BOUGHT IT".

The stock market wiped out $1 trillion dollars today. So what is $750 billion.

McCain should not be faulted for the 8 year debacle of Bush. He wants change just as much as Obama and is a Maverick Republican, so don't be pushed to vote for Obama for that.

Pelosi is at fault? Are you kidding me? Americans to suffer financially because of a speech? Feelings got hurt? The proof is in the pudding. 66% of Dems voted for the bill 66% of Republicans did not. I don't care much for Pelosi, but I think it's a damn shame that the GOP, the party that stood for the free market intensionally caused it to crash. That is it. I am no longer voting for McCain, you can count this Independent now for Barack Obama.

Pathetic repugnicans now blaming Pelosi for 8 years of destruction by the repugnicans. "Only recently has their candidate become alarmed by the deficit" - Ronald Reagan (who would switch BACK to the democratic party in light of all this mismanagement) - applies directly to McSenile today.

Like it or not, Democrats have been in control of the government purse strings for better than two years. Democrats have been in control of all the regulatory and oversight committee's since they took control of Congress. How many terms are we, the people, supposed to wait before a Democratic controlled Congress steps up and does what it's supposed to do? Any party who would allow our economy to fail while waiting on a "veto proof" margin, should not be allowed any further control in Congress, and certainly not Congress and the White House. Neither presidential candidate represents the interests and concerns of America's Citizens. Voters should focus on turning out of office as mant long-term Congressional Elites and Power Brokers as possible this fall. By changing the balance of power and tenure in Congress, we the people, can marginalize the damage that either an Obama or a McCain presidency will cause. Doubtless, many voters from both party's wish we had another choice!

This is absolutely a silly assertion. It's absolutely possible that McCain might "gamble" on the economy. The reason why it's silly is because he CAN'T. Who would gamble right now with the economy in such a state? If anything, the next president will have no leasure to do anything but bail out the economy for the next four years.

I don't like Pelosi either, but it was the house Republicans that came out against this long before it came up for a vote.
Learn to accept responsibility and learn to accept defeat. It will make November 5 easier on all you McPalin supporters.

I honestly dont want to pay for Wall Street. Who is going to "bail" me out when I make wrong decisions?

The bailout plan is pathetic, basically our money will be backed by foreclosed homes? Pathetic!

#6
Most likely, voters will be so disgusted that they will refuse to vote, and only those self serving die hards who do vote will control our democracy and our economy. To paraphrase one of the founders, "the only thing worse than the tyranny of the majority, is the tyranny of the minority"!

Obama, whose co-workers on the Altgeld Gardens project in Chicago, where he claims he got his "executive experience," stated "he was ineffective." Obama, whose $1 million home was bankrolled by a convicted felon. Obama, who has spent all of 143 days in the Senate, where his votes amounted to registering "Present" on critical issues. This is the guy saying McCain doesn't know anything about the economy???? The fact that he's even running for president is a travesty!!! The Dems must really be desperate!

Kwalk get help!

This is a tough bill from any stand point, but speed is a necessity. The original bail out bill strategy was authored by Bush himself and Treasury Secretary Paulson, Republicans who appear anemic politically. It is difficult for democrats to vote for this bill because the financial collapse was caused by Republican mismanagement and financial deregulation policies. The irony is so deep and painful it is staggering. Calling this a "democratic" bill is laughable. That Pelosi put language in her speech before the bill is not surprising because the American people would expect it. It should have been toned down a little, but it was correct to do it. Democrats and Republicans who did not vote for the bill are extremely selfish and self-serving by not voting for it. They have to suck-it-up.

Obama says that Macain will gamble on our economy[ WAKE UP OBAMA] you are for a bill in the house right now thats the bigest gamble in americas history. No one knows if it will work and the chances are that it wont

#3 Pelosi is Sick:

I am no Pelosi fan, but why blame Dems?
Bush & McCain have too little influence in their own party to get the plan passed.

Type your comment here...Well, unless we all write in "None of the above", the election won't be saying much about change.

Yeah, let's blame Pelosi for the sins of Wall St... That's real logic !!

Why would you not look to Phil Graham, the champion of deregulation, and McCain, the ugly sidekick with the demons of guilt from all his buddies HE left behind in Nam. (We need no other proof that he lives in a fantasy world than his choice for VP).
This has been going on for quite some time, and didn't just start with the Bush "Regime". The separation of S&L's (Keating ring a bell, McCain?) from banks was to blame as well.

There

Can't believe these people who said that Pelosi killed the bill because she criticized Bush economic policies.

It is like all those republicans are like small kids. It is laughable to say that they voted against the bill that their own party's President put forward just because Pelosi said something. Please no excuses, country first.

This whole "Pelosi killed the Bailout Bill" schtick is just plain silly -- grow-up and think for yourself already! If an educated thinking adult in a position of power and influence can have their vote swayed by some standard rhetoric, then they don't deserve that position -- either it's the right thing to do or it's not, simple as that. The Republican leadership failed to deliver the vote -- McCain/Bush/whoever-thinks-they're-in-charge-of-the-dysfunctional-Republican-Party failed to deliver -- show some spine and quit spinning it for once. And the thought that in a Republic that a bunch of "Joe-Sixpacks" crying "no bailout" can drown-out every single economist of any stature at all saying "we need a bailout" just proves our electoral system is broken. We need some people who display leadership, intelligence and guts in government, not just a bunch of pandering fools...

Let nobody mistake, the true culprits in this bailout package debacle---the House Republicans and John McCain.

I am a working mom, independent voter, and my 401K has just lost 20% of it's value. Many other Americans may not yet have realized what is happening to them, but as someone who is educated on this issue, I assure you that I will make sure they ALL understand and know who is responsible. I will encourage ALL of my friends to contribute to the DNC. I am not going to sit back and watch mine and my child's future get piddled away.

Pelosi did not kills anything.
it is the GOP members like girls who cannot take a blame.

What broke the bill is that CEO compensation stayed in; if they had a golden parachute agreement. Did you want your money going to those crooks?

This just proves that Obama, Pelosi, Frank and Reid have ZIPPO leadership skills. None whatsoever.

They are too busy blaming everyone else for the crisis that they fail to LEAD and get a bipartisan solution to the crisis.

They are failures in every sense of the word.

The name of this site is a misnomer. l have seen very little intelligence in government since the '92 election. The gamble was started back under Clinton when financial institutions were allowed (?) required (?) to make housing loans to people that could not afford them. By using ARM loans someone could get a much larger loan than he could other wise pay back. So when the interest adjust they can no longer afford the payments. The snowball starts to roll. Add cooking the books so that the institutions show that they are doing well and the CEO can get their huge bonuses, the snowball grows. The board of directors looks the other way (did they get their cut also?) In 05 democats defended what we have now.

Pelosi just couldn't keep her big fat mouth shut, could she?

Why did Pelosi have to throw in cutesy zingers against Bush and pissss off any of the Republicans?

Why couldn't Pelosi just zip it?

Why? Because she can't. She's a typical raving lunatic far left wing lunatic who has not clue how to reach consensus or build partnerships across the aisle.

Who cares if Pelosi made a partisan speech? Your job is to help the american people. Instead of focusing on a speech like some high school teenage girls, why don't these so-called politicians try to help the people who are losing their jobs, homes, retirement savings, etc. What kind of argument is this to blame it on a stupid speech?!!? Do your job!

McCain rolled the dice at the request of his handlers in order to grandstand the financial issue, and ended up looking like a jerk to anyone with half a brain. Maverick! are you kidding? Rather, the yes-man played to the worst elements of the fascist Republican Party and his band of Republican Brown-shirts on the propadandized right-wing radio, the only source the maverick will go to get his ques. These collaborators and puppertiers use only lies, scandal and manipulation to achieve their poisoned ends. Utterly disgusting humanoid debris...

Evidently Ed Weirdness is not a well informed individual. He blames the Democrats who controlled Congress for 2 years when anyone paying attention knows that the Republicans in the Senate filibustered at record levels creating gridlock on anything that they didn't agree with. That's right, the same GOP that in the last congress threatened to 'nuke' the filibuster because it gave the minority (when they are Democrats) too much power. But not now. No, they abused the filibuster along with Bush's veto pen to marginalize what the Democrats could do.

Besides holding the Dem's at bay for two years Ed conveniently overlooks that the Republicans controlled all three branches of government, including their activist supreme court justices, for six years and the Congress since 1994.

This was basically a bill that wasn't good enough anyway, not putting enough pressure on Wall St. and not enough benefit for Main St. I hope that the revised bill will make those that need bailing out feel as pain as many as the 95% of other Americans have been dealing with for years. We more of a bailout for Main St. Because Wall St. will never exist in a free market without a middle class being able to create sufficient demand needed for sustaining products and services.

It is very unfortunate that America does not have a great man to lead this country in our time of economic crisis. Obama certainly is not that man; he would just make it worse. McCain is not either. And Congress, where are the supermen we had in the past. They are gone. Both the Democrats and Republicans have been so busy partying, traveling around the world, worrying about reelection, getting things from lobbists, acting important and making and stealing money. We need to clear out Congress and get rid of the do-nothing one we now have. If this country ever needed a third party, it needs it desperately now. The Russians and terrorist will take advantage of the U.S. with everyone deeply involved in this bailout. Russia is now supplying Chavez with millions of weapons and they have their sights set on other South American countries. We are all Americans and we must quit this bickering and hateful comments and the media must start acting like this country is a democracy again instead of a socialist country. But what can a 70 year old lady do but vote and pray?

Obama has a lot of gall when he accuses Senator McCain of gambling away American savings. Obama did nothing to regulate Fannie Mae and Freddy Mac instead he collected campaign contributions from them. It was McCain who publicly came out for regulation of those companies.

MCCain is a self proclaimed gambler , and he's proud of it. He has publicly spoken out for deregulation. Video tape doesn't lie! He accomplished exactly what he wanted to, and now look where we are.
McCain needs to suspend his campaign permanently, he can then go to Foxwoods and shot craps where it won't hurt this country and the middle class anymore.