WTF Obama?
http://news.yahoo.com/s/nm/20080514/pl_ … ression_dc
From article:
"There are some similarities, though, to what happened back in the late 20s and early 30s and what's been happening now, and the biggest similarity is how we've been dealing with Wall Street and what's happening in the financial markets."
Obama said the U.S. housing crisis resulted from a lack of regulation of mortgage lenders and investment banks who ended up with worthless assets, leading people to panic.
"As your president my job is to regulate what happens in the financial markets to make sure that people aren't taking these kinds of risks and that we're having full disclosure," he said.
"If we do that then I think we can feel pretty confident we're going to avoid a depression."
To be clear:
There's no comparison. First, I have difficulty believing people were unaware of the dangers of the sub-prime gamble. You end up signing a full tree of paper when you are buying a house, which includes a truth in lending statement. So bullshit, there's full disclosure. I may not agree with it, but fine, bail them out.
Second, WTF Great Depression?
Here's a dated article, which brings up some comparisons in the middle of the article.
http://www2.nysun.com/opinion/no-great-depression/
Facts comparison in there:
1) Dow down 12% versus 80%
2) Unemployment 5% versus 25%
3) Mortgage trouble 2% versus 50%
4) Bank collapses one versus 1,400 banks
Give me a break. I'm not seeing soup kitchen lines. I'm not seeing news stories talking about the upkick in the suicide rate.
WTF Obama? Scare the public into voting for you? Cause current economic harm by overstating the truth to benefit what?
I'd have to say this tactic is bull puckey. I saw it when he was in Ohio, I was hoping he'd STFU about it and try something else instead of having it gather steam.
http://news.yahoo.com/s/nm/20080514/pl_ … ression_dc
From article:
"There are some similarities, though, to what happened back in the late 20s and early 30s and what's been happening now, and the biggest similarity is how we've been dealing with Wall Street and what's happening in the financial markets."
Obama said the U.S. housing crisis resulted from a lack of regulation of mortgage lenders and investment banks who ended up with worthless assets, leading people to panic.
"As your president my job is to regulate what happens in the financial markets to make sure that people aren't taking these kinds of risks and that we're having full disclosure," he said.
"If we do that then I think we can feel pretty confident we're going to avoid a depression."
To be clear:
There's no comparison. First, I have difficulty believing people were unaware of the dangers of the sub-prime gamble. You end up signing a full tree of paper when you are buying a house, which includes a truth in lending statement. So bullshit, there's full disclosure. I may not agree with it, but fine, bail them out.
Second, WTF Great Depression?
Here's a dated article, which brings up some comparisons in the middle of the article.
http://www2.nysun.com/opinion/no-great-depression/
Facts comparison in there:
1) Dow down 12% versus 80%
2) Unemployment 5% versus 25%
3) Mortgage trouble 2% versus 50%
4) Bank collapses one versus 1,400 banks
Give me a break. I'm not seeing soup kitchen lines. I'm not seeing news stories talking about the upkick in the suicide rate.
WTF Obama? Scare the public into voting for you? Cause current economic harm by overstating the truth to benefit what?
I'd have to say this tactic is bull puckey. I saw it when he was in Ohio, I was hoping he'd STFU about it and try something else instead of having it gather steam.