So let me see I have this straight. Lehman Brothers files for bankruptcy causing the stock market to tumble 504 points and it is the Republicans' fault with a Democrat majority Congress? How so? Any proof?
As far as McCain's economic policy working we would be speculating. He has to get elected first.
In contrast how would Obama's economic policy be any better? Wall Street needed the rude awakening and it is about time. My 401K plans and stocks and look fine to me. The stock market will recover accordingly.
Here is some interesting information to consider.
Quote:
Sept. 15, 2008
WASHINGTON - Never has a financial crisis of this magnitude hit so close to a presidential election.
So, as people ponder the latest poll numbers — and the numbers in their 401(k) accounts — the question is whether this will change the contest between Sen. Barack Obama and Sen. John McCain.
Many are wondering how the wizardry of Wall Street financial engineering created such a mess. Even those who don't understand the mechanics of a “credit default swap” could still see frightening turmoil in the stock and bond markets Monday............................................ .................................
Campaign funds from Lehman employees
Obama’s campaign treasury has collected nearly $400,000 in campaign contributions from employees of Lehman Brothers, while McCain campaign has $145,000, according to the Center for Responsive Politics, a non-partisan research group.
http://www.msnbc.msn.com/id/26723715
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Quote:
Sep 11, 2008
Both presidential candidates have gotten a lot of money from Lehman employees -- Democratic candidate Barack Obama to the tune of at least $370,000, and Republican John McCain, $117,000 -- according to the nonpartisan, nonprofit Center for Responsive Politics.
Speculation was making the rounds on Capitol Hill on Thursday about whether the government would come to Lehman's rescue, fueled by Sunday's federal takeover of mortgage giants Fannie Mae and Freddie Mac and the government-engineered rescue of Bear Stearns earlier this year.
House Speaker Nancy Pelosi, a California Democrat, told reporters on Thursday, "I'm hoping that Lehman Brothers will turn around. People that I talk to say they think that it will."
http://www.reuters.com/article/idINN...080911?sp=true
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