The whole S&L scandal of the late 1980s has been in the news a whole lot lately. It detonated an investigation of something now known as the Keating 5 scandal. For more on the Keating 5,
http://en.wikipedia.org/wiki/Keating_5
In 1989, I was a Freshman in high school. I was more concerned with getting money to buy a Tribe Called Quest album, than what was going on in the scandalous political arena.
Over the haze of age, a funny thing happened. The same market is in trouble again, and there is one member of this 19 year-old (thought to be buried) group which ultimately was accused of forcing the deregulation that caused a bank to fail, but then made money on that same bank..... IS RUNNING FOR PRESIDENT.
Make NO doubt about it, McCain has admitted, as recent as today, he is a friend of deregulation--all the while companies are blowing up, left-right-all over the place. He calls for a committee to investigate this; while the Republicans are trying to squash the investigation of "Troopergate" der en Alaskee (which I still have so much to say but no time to write on...a wasted breath at this point). A committee to investigate many of my neighbors struggling to pay their mortgage? A committee and bureaucracy to investigate the fact that the price of gas has risen 3 dollars over the past 5 years? Really, an investigation!
NO!
We need action and to make it happen now. We need it immediately. The best we can get is a government that would get off it's tail and handle this economic downfall. And if history is a measure of reality, George Bush will not address these issues the way they need to be addressed....IMMEDIATELY.
When you say the "economy is fundamentally sound" when the unemployment rate is up and climbing, when banks, the government (thus, us) are bailing out other banks, when the price of everything is skyrocketing, while people are losing their homes, while this utter spin of a FUNDAMENTALLY UNSOUND economy is destined to proverbial "trickle down" to the proverbial American pocket book.
Get ready to write the check now.
Fact: McCain's economic plan is the same as George Bush, there should be as little regulation as possible and you must run on the ebb and flow of the global economy.
Fact: That will not work, it hasn't worked, and it's not good enough!
Fact: We are paying for a war that has cost us almost 500 billion dollars thus far. Over 4,000 American MEN AND WOMEN have died and no one can even estimate the total damage to the Iraqi citizens, including the death toll--innocent people losing life for a cause we can't even get straight.
Fact: We have an enormous deficit--in everyday terms, that means to fund this war we borrow from other countries
Fact: Borrowing money from other countries, while banks are failing and the country you are "at war" with is running on a surplus....bad!
Fact: In March of this year, with the looming of the Bears Stearns collapse, Senator Barack Obama urged the government to look into (i.e. REGULATE) the fundamentals of the Banking and Loan system which is fundamental to our economy.
Fact: Major banks and inverstment companies are not doing so good
Fact: The economy is not so "fundamentally sound"...my friend.
Or we live in two different countries!
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