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Obama blames 'ethic of greed' for economy »
Posted by: not2needy 1 year, 8 months agoBarack Obama went to New York Thursday and blamed lobbyists, greedy businessmen and complacent Washington politicians for creating "an ethic of greed" that led to today's foreclosure crisis.
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not2needy
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Comments: 319
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not2needy
March 27, 2008, 10:49 p.m.FTA:
Hillary Rodham Clinton's campaign pounced on the mixed images evoked by Obama's New York schedule.
"According to the standard set by the Obama campaign, it looks like Sen. Obama will have a hard time cracking down on the practices that caused the credit and housing crises," said Phil Singer, the Clinton campaign spokesman.
But Bill Burton, an Obama spokesman, fired right back.
"Today's event was a general fundraiser in a room paid for by our campaign and attended by people from varied backgrounds who are committed to changing the tone of our politics รข;; and rejecting the kind of tactics that the Clinton campaign is now embracing. Any suggestion that this was a fundraiser hosted by the mortgage industry is laughable," he said.
Good for Bill Burton! You Go BB!
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not2needy
March 27, 2008, 11:10 p.m.Also FTA:
McCain brought those political shots on himself. His advisers Thursday were struggling to undo the impression left after an economic speech earlier this week that as president he would do little to intervene and manage the current crisis.
There you go folks, McCain intends to do nothing about the economic crisis the USA is in. All he intends to do is follow in Bushies footsteps, and pocket a lot of money! Isn't that what he said, he would follow Bushies lead?
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Searchbeam
March 27, 2008, 11:20 p.m.Once again Barack Obama is right on the money!
No, I didn't mean it as a pun! It is for real!
By the way, did you see the entire text of McCain's speech on the economy? No?
It is here:
McCain: "Um.. Hmmm... (Hand Gesture).. (looking around at the audience)..."
"Thank you for coming! God Bless you! And God Bless America!"
LOL!
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baddad59Comment has been removed: Retracted by user
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SwampFox-82ndComment has been removed: Retracted by user
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Spadecaller
March 28, 2008, 6:56 a.m."Obama leans heavily on his refusal to accept money from federally registered lobbyists to lend credibility to his assertion that he can resist pressure from vested financial powers that be."
No one else can make that claim honestly.
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walden3
March 28, 2008, 7:38 a.m.I'm neither Repub nor Dem. I'm an American. I'm not as excited as the rest of you. I'm real disappointed in the Democrats for the way they've laid on their stomachs for the past eight years and waited for Bush to deliver it to them. For the past year they've controlled congress and still lay supine for Republicans.
Obama contributors:
Goldman Sachs $522,228
UBS AG $327,302
JPMorgan Chase & Co $316,892
Lehman Brothers $302,697
National Amusements Inc $293,022
Citigroup Inc $290,146
University of California $275,046
Sidley Austin LLP $271,857
Harvard University $264,941
Google Inc $259,010
Skadden, Arps et al $248,743
Exelon Corp $227,661
Morgan Stanley $225,976
Time Warner $221,878
Jones Day $212,525
Latham & Watkins $187,208
Kirkland & Ellis $181,976
University of Chicago $179,147
Citadel Investment Group $175,900
Microsoft Corp $167,990
Think this is altruistic or do they want something?
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walden3
March 28, 2008, 7:45 a.m.Now, what he said is absolutely true. I agree with him. Changes need to be made. Bail out homeowners not big business and there needs to be more oversight and regulation of the financial markets.
Can Obama, Hillary or McCain make these changes. I don't have much confidence that any of the three really wants to. Any change will be incremental and too little, too late.
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stephen-johnson
March 28, 2008, 8:29 a.m.Maybe Obama should be less greedy with his own money:
http://blogs.abcnews.com/politicalpunch/2008/03...
Obamas Gave Less Than 1% of Their 2000-2004 Income to Charity
March 25, 2008 4:06 PM
This is why politicians don't like to release their tax returns!
Bloomberg News crunches the numbers on Sen. Barack and Michelle Obama's newly-released tax returns and finds:
"The Obamas' donations to all recipients totaled $2,350 in 2000, $1,470 in 2001, $1,050 in 2002, $3,400 in 2003, and $2,500 in 2004. They also paid federal taxes totaling $311,044 during the same period on their $1.2 million of income."
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nostalgia
March 28, 2008, 8:33 a.m.I listened to both the Obama and McCain speeches
Parts I agreed with other areas were questionable
Please read the text of the speeches for yourself before forming an opinion. Some of the commentary I'm hearing makes me wonder if I listened to the same speeches!
McCain - "our effort to help deserving homeowners, no assistance should be given to speculators. Any assistance for borrowers should be focused solely on homeowners, not people who bought houses for speculative purposes, to rent or as second homes. Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren't."
Text of his speech here:
http://www.johnmccain.com/Informing/News/Speech...
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kboy
March 28, 2008, 8:58 a.m.No body seems concerned that the Government put extreme pressure on lenders to finance very poor loans to minorities and took sanctions at lenders that did not. There is also no mention of the $500,000 tax exemption that encouraged people to keep flipping houses. As in musical chairs, someone loses every time. Each of these people signed a CONTRACT. Will this turn into another entitlement package?
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patrick66
March 28, 2008, 9:32 a.m.BHO, You are very good at blaming others for the ill's of the USA. Not very good at accepting responsibility ..
Nor BHO have you , other to blame or rationalize , presented a GAME plan to corredt these problems.
Crying, whinning, blaming you got my vote .
Correcting , fixing things, RUNNING the country. NO WAY !!!
I do not see you being able to have any substance in the world. They are not the whissy liberals that you have convinced you are a leader. The blame leader yes.
My leader NO!!!!!!!!!!!!!!!!!!!
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Klarissa
March 28, 2008, 9:43 a.m.So, if Obama can't solve the economic problems it won't be his fault.
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Global_WarmerComment has been removed: Abusive
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automan909
March 28, 2008, 12:22 p.m.Here's what Obama has been doing in the Senate when it comes time to vote. check the second page where he was too lazy to even vote at all. Also check out where he voted against making illegal the killing of babies that were alive and already delivered just because they had birth defects. Now that sure sounds like supporting murder to me. I think that I want a president that will do his job right, and do it every day. Not just when he feels like it.
Ohhh yeah ...thats right...he's black so lets vote for him anyway. I think if Edy Amin was running you all would vote for him too.
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rdy2rckComment has been removed: Hard Banned
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Klarissa
March 28, 2008, 12:35 p.m.Surprisingly, donors on Clinton's web site who list a foreign address are directed to a special page which advises that such donations are only taken by mail and that donors "must include a copy of your U.S. passport or green card."
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tiredofwhiners
March 28, 2008, 12:51 p.m.Obama has some good points. Greedy lobbyists, corporations, politicians. He forgot who makes this all possible: the greed of ordinary Americans. People wanting and buying houses they can't afford, gas guzzling or fancy new cars they can't afford, and all the rest - cable HD TV, designer this and that, $150 hairdos, etc. The pressure to keep up with the Joneses is terrible. I resist it but even I have been sold that bill of goods. Without peoples' greed the real estate salesman couldn't have sold those overpriced houses to ordinary people who knew they couldn't afford them. I can't tell you how many times friends and real estate people said "But it's a good investment, RE will go up every year, it will keep going up". I have no respect for Bear Stearns, et al, and the buyers who overpaid and didn't allow for a downturn or them losing their jobs. I don't want my tax money going toward bailing them out.
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tiredofwhiners
March 28, 2008, 1:09 p.m.I forgot to mention that Americans, in general, are wasteful and not at all frugal. Sometimes I am tempted to start up a used/thrift store when I drive down the street and see all the good stuff being thrown out. I recycle and try to fix things but most just toss it, too much bother to recycle and fix or make-do. Just buy a new one made in China.
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automan909
March 28, 2008, 12:52 p.m.Yeah. Lets forget that he supports the murdering of born babies.
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JoseMadreComment has been removed: Hard Banned
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SpareChange
March 28, 2008, 1:19 p.m.This economy is the fault of Republican rule.
Why listen to any Republican about the economy? Look where it got us - record spending, record deficit, lowest dollar, bankrupt government agencies and tax cuts that don't benifit the middle class.
Shut Up Repbulicans, you had your chance and it got us into a recession.
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tiredofwhiners
March 28, 2008, 1:48 p.m.Good thoughts but how is he going to fix things up. Another federal bureauocracy?
On another note. I believe that a government should save up money in a reserve fund during good times when tax money is flowing in like water over Niagara Falls. But - no-o-o. They just figure out more ways to spend it. Bottom line is reduce Federal spending and create a reserve for bad times. Then the money would be available for saving homeowners etc. We have a deficit in spending even during the best of times. I feel that helping the poor, better health care and all is a great thing. We just can't afford it. Congress should prioritize, then stop when the money has been spent, not borrow every year. Anyone disagree?
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JoseMadreComment has been removed: Hard Banned
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sanyi_oradea
March 28, 2008, 2:46 p.m.In the 1920's -30's a law was introduced forbidding banks to invest into the stock market. This law was declared null during the idiotic Clinton administration, effectively placing dynamite ready to explode, under the structure called "the economy", or perhaps, the "financial machine of the USA". This was deliberate sabotage, by those who had an agenda of destruction. I don't know who they are, but now it's too late any way.
So, hold on to your seat, for whatever events will follow. Don't say anyone, that I didn't warn about this 10 years ago or so.
Miau, there are too many rats, I can't deal with them all now...
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