Obama promises to lead U.S. from dire 'day of reckoning'

Wednesday 25th February, 12:20 PM JST

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Badsey at 01:12 AM JST - 26th February

No more promises!

I am still waiting for my George Foreman grill !!
Madverts at 01:36 AM JST - 26th February

Guys, Superlib has been an out-spoken Obama supporter.

Heh, get over Bush and his tenure fella's. Yeah, a part of this is entirely his fault, but the root cause of the current economic crisis stems from many factors, not just the W.
TexasAggie at 01:38 AM JST - 26th February

The Chronicle ran the transcript of what Obama said. Note this little gem:

Obama: "Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day."

If Obama's "F Troop" bothered with checking the facts they would have learned that the Clinton administration championed an easing of banking regulations, including legislation that ended the barrier between regular banks and Wall Street banks. That led to a deregulation that kept regular banks under tight federal regulation but extended lax regulation of Wall Street banks.

Clinton Treasury Secretary Robert Rubin, later an economic adviser to candidate Obama, was in the forefront in pushing for this deregulation.

Obama's script writers are doing a great job at showing American voters what a fool he really is.
Madverts at 01:48 AM JST - 26th February

"Obama's script writers are doing a great job at showing American voters what a fool he really is"

Well, aggie - that'd be a breath of fresh air from the bumbling idiot we had for the last 8 years whose didn't even need scriptwriters to show the world what a fool he really was.
smithinjapan at 01:58 AM JST - 26th February

Madverts: "Yeah, a part of this is entirely his fault, but the root cause of the current economic crisis stems from many factors, not just the W."

You therefore admit that the man cannot be excluded from the conversation.

TexasAggie: "Obama's script writers are doing a great job at showing American voters what a fool he really is."

How does it make you feel, then, knowing that bush couldn't even speak better than the fool he had write speeches for him? I mean... if those were his SPEECH WRITER'S speeches, my got the man must really have been mentally handicapped.

What's more, Obama is best, and people have reported as much across the board, when he ditches the prompter and speaks from his heart. It's more his delivery that sells the speech, not so much the other way around.
smithinjapan at 01:59 AM JST - 26th February

my 'god', not 'my got'.
Taka313 at 02:01 AM JST - 26th February

texasaggie,

Where in your quote from Pres. Obama did the president blame anything on anyone? Did he blame your dear leader? Did he blame the republicans? Nope.

He stated that the regulations were gutted. He stated people bought houses they couldn't afford. He stated lenders lent money to people they shouldn't have. He didn't blame your dear leader. So, I'm sorry, no "gotcha" moment for you.

But thank you for playing.

Taka
Badsey at 02:38 AM JST - 26th February

-and he stated he was one of the top 5 (#3) in Fanny and Freddy's pockets.
yabits at 02:43 AM JST - 26th February

He stated that the regulations were gutted. He stated people bought houses they couldn't afford. He stated lenders lent money to people they shouldn't have. He didn't blame your dear leader.

But we truly understand how folks like Aggie get all defensive over that list of facts.

It's like one of those police artists at a sketchpad: "Gutted regulations, uh huh...putting off critical debates, right...blind in both beady eyes to the dangers of deficit spending...Got it." She turns the sketchpad around and, dayum, if it's not an exact likeness of...
TexasAggie at 05:11 AM JST - 26th February

90 minutes into the trading day and the market is already down 150 points. I wonder where we'll be at the close?

Obama's talk of rainbows and unicorns is now meeting reality.
goodDonkey at 07:10 AM JST - 26th February

TexasAggie said:

90 minutes into the trading day and the market is already down 150 points. I wonder where we'll be at the close?>

Obama's talk of rainbows and unicorns is now meeting reality.

What does investors opinions have to do with the truth about the economics of our nation? If the economy stabilizes and consumers spend more the investors will change their tune. How many traders, brokers or financial advisers are economists? You seem confused between what economics is and what an investor does in making a prediction to make some money. But then again you are a conservative aren't you? And reflecting the stock market as being the great economic gauge is following the party line right now isn't it?
JoeBigs at 07:38 AM JST - 26th February

TexasAggie at 05:11 AM JST - 26th February 90 minutes into the trading day and the market is already down 150 points. I wonder where we'll be at the close? Obama's talk of rainbows and unicorns is now meeting reality.

I for one am glad to see the market get a hold of itself. This insane ride it has been on needed to stop and it is now getting back to normal.

I am really happy to read and hear of new regulations coming the markets way. If you do not control the market is will stampede away.

For your information Texasaggie, when Bush came into office the Dow Jones was around 11000. When Bush left it hit 9000. Now by my Independent math, he left the market worse than when he got it.

Ok here is a challenge to the far right here. If Obama's plan works and our nation gets on it's feet in let's say 2 years or so. Will you give President Obama any credit?

I do not expect any Republican or hard line right winger to give President Obama any credit. I do expect that all Republican and hard line right wingers will try to steal that credit and give it to Bush. They want so badly to make him look like a good President rather than what he really was, the worst President we have seen since Hoover.

Wow someone worse than Ford and Carter, now that is incredible!
zurcronium at 08:34 AM JST - 26th February

When the republican party is lead by a former drug addict radio jock you know they have no change. The repubs have gone all fringy, only a few lonely and angry souls care about what they have to say. You know the type, just look around this thread.

Obama is doing stuff, along with the democratic party. What a refreshing change from the last 8 years.
Badsey at 08:33 PM JST - 26th February

"Obama is doing >stuff
goodDonkey at 07:41 AM JST - 27th February

Obama stuff =

Fixing roads, building roads, American workers will be hired to do these vital infrastructure needs, hiring American workers as Teachers, hiring American workers as Cops, hiring American workers to conduct scientific research, hiring American workers to expand high speed internet to make it available to every U.S. citizen, hiring American workers to research new means of energy resources for the U.S., hiring American workers to install energy efficient products currently available in the U.S., hiring American workers to build schools, assisting states to provide much needed services to their respective citizens, assisting states to rebuild infrastructure and continue on new development projects which in turn requires hiring American workers, helping people with disease and injuries to get medical treatment without smoke and mirrors like tax incentives (how are you going to get money back on taxes for health services provided when you never had the money to get the medical treatment in the first place???), hiring American workers to rebuild our electrical grids, getting money to kids and others who want an education but cannot afford one; including asking them to volunteer to trade their efforts for an education that will lead to a degree that will provide jobs and enhance our nation with knowledge. Oh yeah Clinton did that too! He gave both tax breaks and breaks for volunteerism to support higher education (besides his efforts to hire more teacher for K - 12).

Bush stuff =

Hiring American workers to build bombs and other means of human destruction, hiring American workers to fight Iraqis