How McCain, Obama Would Fix Wall Street

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How about if our government was to start pumping those BILLIONS of dollars back into the US. taxpayer's pockets so they can pay down loans, make purchases and stimulate the economy? They would probably be able to afford to buy a home, make their mortgage payments, get out of debt, make investments AND save money! What a concept THAT would be? We're not talkin' about kittle "kicker" checks, either. The world economy seems to have shifted from "For The People" to: "For The Corporations".
Current U.S. population is a little over 305 million.
Do the math.
:)

Don Mann of WA 11:06PM September 29, 2008

Hey Mr Rick Newman
Why don't you try analyzing the canidates proposals in a unbias manner instead ot try to sway the common man towards your political canidate choice for president. You failed to mention that Obama has taken his financial adivice on the economy from those very executives responsible for running Fannie Mae and Freddie Mac, including Mr SEC himeself Chris Fox. Please Mr Newman, you embarris yourself as a jounalist by not providing all the facts.

of LA 10:45PM September 29, 2008

This was John McCain's first big test - and he failed it miserably. Last week he charged into Washington to "save" the Bailout Plan, rally his Republican Party and "take charge". But his 26 year association with the Republican congress meant nothing to more than 2/3 of his pears. The Republicans in congress not only slapped John McCain and President Bush in the face with their 2/3 vote against the Bailout Plan, but they graphically demonstrated what they think of John McCain's leadership - NOTHING! But unfortunately they also demonstrated a blatant disregard for the all working class Americans, especially the soon to retire Baby Boomers who really lost on their 401Ks, Mutual Fund savings and their home loans and fading equity. When I ignored Obama's debate observation that John McCain didn't say "Middle Class" one time during the debate, I was very wrong - the entire Republican Party has a huge distain for the common, everyday working class American - today I change my vote - and party.

Richard Sanders of KY 10:28PM September 29, 2008

The Middle-Class that are still in their homes and fighting to keep them should get some relief. I believe if the mortgage companies had resolve the problem by placing what a loanee owes on the back-end of the loan and re-ammending the loan at a lower interest and afforable fixed rate, they would still be in business and some people would still have their homes. But the greed of these corporations is so heartless. I don't agree to the bailout unless it is for everyone that owns 1 home only should have the bailout. Certainly, they would be out spending and driving the market back out in no time. I have not calculated this in a long term way but, neither has our head of state.

Miche of CA 10:20PM September 29, 2008

It would seem that everyone wants to point a finger at 'the other guy' did it. Why hasn't anyone stated the obvious? Our government is just as culpable in this mess as 'Wall Street', or lending agencies. Ask who it was that purposed new and 'improved lending practices that have lead to all this 'bad debt'. I quote from a recent article by Ann Coultier;
“Under [Bill] Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton’s secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low- to moderate-income borrowers by the year 2001. Instead of looking at ‘outdated criteria,’ such as the mortgage applicant’s credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named ‘Caylee.’ Threatening lawsuits, Clinton’s Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn’t a joke—it’s a fact. ... In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration’s affirmative action lending policies as one of the ‘hidden success stories’ of the Clinton administration, saying that ‘black and Latino homeownership has surged to the highest level ever recorded.’ Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses. A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it’s gone off.”
And now we are supposed to trust these idiots in congress again?

John Iden of CO 9:47PM September 29, 2008

Why hasn't our candidate, Barack Obama found a pulpit or Press conference and tell us what we, his supporters should be doing and thinking about the bailout? Is he for it? Could it be better? Why isn't he composing a bilout plan of his own?
Neither one of the candidates are standing up at home plate to tell us what the best thing to do before we all thunderously crash..

Barbara Claman of CA 9:36PM September 29, 2008

The smartest move for the US government is to bail out every taxpayer who owes a mortgage to a lending institution. If we little people could pay off our excessive mortgage payments that have been imposed in order to own our homes, we could spend our wages in means that would help to stabilize our economy. The politicians would never do this, however, because there is no loophole in which they could legally steal all our money. Simple solutions and common sense waved bye bye in Washington long ago. Our founding fathers would personally execute most politicians today for treason!

Micheal Hudspeth of AR 9:31PM September 29, 2008

Its been going so fast and furious that many of you may not really know what it is that makes you feel so drained right now. Alot of you have fought in campaigns before, but this seems like more than the usual 4th quarter blues.
Well, I gave it some it thought. Let's review.
I think it is safe to say that the Democratic party was generally happy and energized after their convention. Glowing, crying, hopeful.
Almost immediately after, Gustav was brewing out in the Caribbean and had already killed some people. The storm was bearing in on the coast of the U.S. and millions were evacuated. You couldn't be human, or part of the movement to elect Obama, if you didn't identify with all the unfortunate people that had to pack up, leave, and spend money just to find a space to sleep, find gas, etc.
Then, with that low lying anxiety, and with Ike on the way, Bush jumped out of the circle and ran to Texas as the Republican convention started to "oversee things from there." We were robbed of our ability to see the incumbent standing next to one of his biggest supporters, proving to everyone watching that McCain would be more of the same.
Instead, we got a surprise distraction and a rollercoaster ride. An unprecedented number of people started very actively arguing about politics. It wasn't a fair fight. They're shorter, so there were alot of low blows.
Then the nation watched as Ike began to bear down. Barack canceled what was to be his Saturday Night Live appearance. (Now that just wasn't fair! I was really looking forward to that). But it was o.k., we were doing the right thing. Ike was on its way and, in a rare natural metaphor, was the size of Texas. No matter where it hit the U.S., work was going to have to be done to help alot of people.
No details needed. Wipeout. Same time, Palin was doing her press junket, shaking hands, and making friends. Miraculously, the other team seemed to start to take the lead.
The weekend was sleepless for alot of us. I don't know about you guys, but at this point I was glued to my computer, reassuring friends the polls were going to prove wrong, feeling it in my gut, which was also full of coffee and fast food.
Monday morning we woke to the news that Wall Street had lost two of its major brokerage firms. Lehman Brothers filed for bankruptcy after the government refused to bail it out, and Merrill Lynch employees bit their nails.
Barack had to swat some flies away (literally and figuratively), but the tables were turning.
Then, Bank of America bought Merril Lynch in a quickee deal and the stock market responded with a huge sell off, down 504 points for the day. There were fears about Washington Mutual, Morgan Stanley and other firms, so financial stocks tanked. Markets around the world took a beating. If you didn't know, trust me, we really wiped out everybody. Some of the markets weren't even able to reopen. AIG was ....
Full Article: http://concernedmilf.blogspot.com
See P.S. for S.P.

ConcernedMilf of HI 9:14PM September 21, 2008

OBAMA OBAMA OBAMA AMERICA WAKE UP. This is the one for CHANGE let take back this country and start feeling some of the so called american dream, the last 8 years have been hell, with republicans at the helm,,, let try something new and better...OBAMA AND BIDEH NOVEMBER 4TH 2008.THANKS

of 5:17PM September 21, 2008

The Keating Five S&L Scandal, which led to the taxpayers losing $3.4 billion, and the current Wall Street meltdown both have John W. McCain at the heart of each given that both scandals are direct results of greed, the confluence of special interests and political corruption.  
Major bank failures? Financial fraud and greed? Political ineptitude? We're seeing these factors play out now in the financial industry, but we saw the same thing 20 years ago, in the biggest scandal of McCain's career.  
This is also the practice that has led to the current U.S. economic crisis.   
Keating Five were five US Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five, Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly aiding Charles H. Keating, Jr., chairman of the failed Lincoln Savings and Loan Association.  
McCain wanted the auditors to let Lincoln continue making real estate loans without carrying out credit checks, a clear violation of the law.   In 1987, McCain tried to force bank regulators to ignore the law for his friend and benefactor, Charlie Keating.  
When asked by his aides about the meeting, McCain whistled through his teeth rather than answer their questions.  
Sound familiar today? Trying to force lawmakers to ignore Palin"s investigation?

one4REALchange of CO 11:40PM September 20, 2008