Freshman Senator Barack Obama has trashed Senator John McCain over his response to the bailout.
- “His first response to the greatest financial meltdown in generations was a Katrina-like response,” Obama said today in Detroit. “[McCain] sort of stood there, said the ‘fundamentals of the economy are strong.”
Barack Obama should not throw stones from his glass house. He has failed in his attempt to negotiate the meeting by attacking Republicans out of the gate.
- Democrats opened their presentation by turning the floor over to Sen. Obama, who proceeded to attack the Republicans at the table using Paulson’s notes on the Republican plan, foreclosing on any possibility of constructive negotiations being conducted.
Senator McCain observed this mayhem and, contrary to Harry Reid’s story, did not speak until forty minutes of whining had passed.
- Multiple sources said McCain didn’t say much. Two Democratic leadership aides said he didn’t speak until 43 minutes into the meeting.
If McCain didn’t speak in the first half-hour, how is the breakdown his fault? Harry Reid caught himself lying.
September 29th, 2008 - 11:09 am
What would constitute “constructive negotiations” exactly? I read about Obama’s statement at the top of the meeting, nothing seemed very incendiary. So does that quote mean that by questioning the wisdom of handing Goldman Sachs former CEO a blank check with no oversight, Barack ruined the possibility of giving out the $700B faster? If so, I think that’s a good thing. This debacle needs more time to be looked at, just writing a blank check to Paulson would have been the very definition of irresponsibility.
I am glad to see that what is coming out has some oversight and a means to recoup the taxpayer’s rescue. Not that we’ll actually follow through on trying to collect once these firms turn a profit again but at least we paid lip service to it.
September 29th, 2008 - 10:56 pm
The $700B is Obama’s spending plan. That’s why he didn’t have to give up any programs to Jim Lehrer.
The bailout was bogus, there were enough Democrat votes to pass it with no Republican support, but 95 Dems wouldn’t touch it.
Because it was trash.
A 700 billion dollar bailout for banks but the fed tells Wachovia to sell or be seized?
If the 700 billion isn’t to save the 4th largest bank, who is it for?
Now we suffer the very fallout they claimed to want to avoid, so why bother?
Total BS and another failure of the Democrat Party.
How funny that after eight years of decrying Bush’s spending, the Democrats join him to “save” America.
As for Obama, he couldn’t negotiate that meeting, and he couldn’t bring 10 more Democrats to vote for that 700 billion.
“The only change you are gonna get, is some pennies in your pocket.” - Barack Obama
September 29th, 2008 - 11:59 pm
Yeah, the bailout was pretty lame…even coming from the left. There’s lots to hate on every side of it. But at least the Republicans had the courage to buck their leadership and vote against it. Question is now…what will they do next? Will there be a new form of bailout that has more safeguards in place for taxpayers? Or will we just hold on for the ride?
September 30th, 2008 - 12:31 am
We are holding on right here in Charlotte. A 700 kazillion dollar package and our main bank, the spine of our growth, Wachovia, is forced to sell? We don’t need the bailout here anymore.
We are going to be forced to suffer fo awhile.
For the record, 95 Dems saved ours, and their own asses.
Bush and both candidates supported it. Too bad for us.
September 30th, 2008 - 9:54 pm
I have NO idea how you were able to place the bailout and it’s failure on Obama. That took some serious contortionist skills. The problem isn’t that some fat cats are going to get rich, but the ripple effect this has on the economy. There’s no credit out there anymore. Small business payrolls are going to start disappearing. I think the tune will change after that. We’ll see. The bailout pisses me off too, but in the long run may be necessary.
September 30th, 2008 - 11:15 pm
No, he didn’t draw uo the bailout, he just couldn’t handle the meeting.
The fault of the failure is Pelosi’s.
In Charlotte we are already feeling it. The fed forced Wachovia to sell, police state style. The bailout was a massive fraud.
$700 Billion? That’s over 2 grand in the hands of every American. We could pay off almost everyone’s primary mortage with that. C’mon dude, you know it stinks when 94 Democrats are siding with real conservatives against Barack Obama, John McCain, President Bush and Nancy Pelosi.
Bush, the congress, and both candidates are screwing us hard here.
October 1st, 2008 - 2:50 pm
The meeting was NOT for the junior Senator from Illinois, nor the Senior Senator from Arizona to handle.
You certainly aren’t suggesting that Obama (and McCain) should have used their positions as Presidential Candidates to take over the meeting, and thereby injecting Presidential Politics into this. Are you?
This is difficult stuff to understand, but when the banks stop lending money, we all are in trouble.