"Obama, like Clinton, was likely to rely heavily on a team of experienced economic advisers to handle the problems. Obama's roster of specialists includes two former secretaries of the treasury, Robert Rubin and Lawrence Summers, as well as former secretary of labor Robert Reich and former Federal Reserve Board chairman Paul Volcker."
These are the same guys who helped put us in this mess!!!! Rubin is the Wall Street/Goldman Sachs architect of this globalization crap, and Summers once said it would be a good idea to dump toxic waste in Africa.
"Amid fiscal woes, Obama reshapes campaign message; Says he is best pick to fix Wall Street" by Michael Kranish, Globe Staff | September 19, 2008
WASHINGTON - Throughout his presidential campaign, Barack Obama has boasted that he passed up jobs on Wall Street in order to focus on public service. But now he is dramatically reformulating that equation, saying that he should be elected president because he knows how to fix the crisis on Wall Street.
The series of bankruptcies and bailouts on Wall Street has grown so great that Obama is facing questions about whether he has the background to deal with a complex financial crisis that he has described as the worst since the Great Depression.
And WHAT ABOUT McCain, who ADMITS he doesn't know a damn thing about economics??
Come on, Globe!!!!!! Can your BIAS SHOW ANY BRIGHTER?
Some financial specialists said yesterday that the current crisis is so big, and the problem is so new, that no candidate is prepared by experience.
"I don't think anybody has the credentials to deal with this crisis," said David Rothkopf, a deputy undersecretary of Commerce in the Clinton administration. "If it is a . . . once-in-a-100 years crisis, nobody has dealt with anything of this scale."
Yup, GEORGE W. BUSH'S LEGACY -- at least, ONE of the MANY DISASTERS this fuck is gonna leave behind!!!!
Rothkopf said that Obama, like Clinton, was likely to rely heavily on a team of experienced economic advisers to handle the problems. Obama's roster of specialists includes two former secretaries of the treasury, Robert Rubin and Lawrence Summers, as well as former secretary of labor Robert Reich and former Federal Reserve Board chairman Paul Volcker.
During a telephone conference call with reporters, Obama's advisers yesterday sought to highlight speeches in which Obama called for more regulation of Wall Street. Asked if Obama had ever taken an economics course or run a business that gave him background for dealing with such a large crisis, they responded that the senator's experience comes from working as a community organizer, state senator, US senator, and presidential candidate.
And WHAT ABOUT McCain, dick weeds?
Please see: Fiorina Calls U.S. President a Figurehead
Senator Robert P. Casey Jr., a Pennsylvania Democrat, said on the conference call that Obama has been "dealing with these economic problems at the state and local level" and has "broad life experience of being an advocate for those who don't have a voice." Casey said he was tired of hearing that McCain's 26 years in Congress give him the appropriate experience to deal with the financial problems.
Pffft!
The McCain campaign yesterday launched an ad that questioned Obama's ability to deal with the crisis.
And what about that SENILE OLD FOSSIL himself, huh?
Obama has "no background in economics," the ad said. It quoted the
The Obama campaign responded last night that "Frank Raines has never advised Senator Obama about anything - ever." Obama spokesman Bill Burton added, "This is another flat-out lie from a dishonorable campaign that is increasingly incapable of telling the truth."
What else is new?
Obama's resume does include a year working at a financial publication in New York City, serving as a junior editor at Business International Corp. However, some of Obama's former colleagues at the company have said his work there was relatively routine.
Obama explained his overall economic vision in his book, "The Audacity of Hope," writing critically of the Republican Party's adherence to reduced regulations, while saying that Democratic efforts to save New Deal programs aren't enough. Obama wrote that "a new economic consensus" was needed. But he acknowledged that he didn't know what that would look like.
"I won't pretend to have all the answers," Obama wrote.
How refreshing for a politician to admit that!
But based on Obama's statements and writings, it appears likely that he would couple the government intervention that has occurred this week with financial support to the victims of the crisis, including many of those who took out mortgages that they could not afford.
Something the Repuglicans won't do; they only care about bailing out banks.
Campaigning in Espanola, N.M., yesterday, Obama said he will meet today with top economic advisers to craft the details of a plan to provide capital and liquidity to the financial system, and to help struggling families restructure their mortgages.
Robert Litan, former associate director of the Office of Management and Budget in the Clinton administration, said that the fast pace of the crisis has prompted Obama and McCain to take a pragmatic approach. While both candidates ended up sounding supportive of the bailout of the AIG insurance conglomerate, they are likely to have different approaches on how to solve the overarching problems on Wall Street.
"McCain obviously has a longer history of free markets and Obama is more regulatory," Litan said. "Beyond that, the rest of the fixes are complex and in the weeds."
Douglas Holtz-Eakin, McCain's economic adviser, said yesterday that Obama has "no credibility" on economic issues, attacking the Illinois senator for proposing tax cuts and spending increases that are "inconceivable as a matter of arithmetic."
And your man does? Ha!
But Cornelius Hurley, the director of Boston University's Morin Center for Banking and Financial Law, said that he decided to support Obama because the senator proposed a year ago to require that investment banks be as open to bank examiners as commercial institutions.
"Has he ever worked in an bank or represented an investment bank? Probably not," Hurley said. "But does he have the instincts and does he understand what government is supposed to be all about? I'd say yes."
Even if he didn't, I would say yes because I will take my chances with the black man over the disgusting, slimy, sickening duo the Repugs put up this time.
