Topic Posted by: Peace
Date Posted: Mon Oct 6 16:55:25 2008
Additional Comments: Over the weekend, John McCain's top adviser announced their plan to stop engaging in a debate over the economy and "turn the page" to more direct, personal attacks on Barack Obama.
In the middle of the worst economic crisis since the Great Depression, they want to change the subject from the central question of this election. Perhaps because the policies McCain supported these past eight years and wants to continue are pretty hard to defend.
But it's not just McCain's role in the current crisis that they're avoiding. The backward economic philosophy and culture of corruption that helped create the current crisis are looking more and more like the other major financial crisis of our time.
During the savings and loan crisis of the late '80s and early '90s, McCain's political favors and aggressive support for deregulation put him at the center of the fall of Lincoln Savings and Loan, one of the largest in the country. More than 23,000 investors lost their savings. Overall, the savings and loan crisis required the federal government to bail out the savings of hundreds of thousands of families and ultimately cost American taxpayers $124 billion.
Sound familiar?
In that crisis, John McCain and his political patron, Charles Keating, played central roles that ultimately landed Keating in jail for fraud and McCain in front of the Senate Ethics Committee. The McCain campaign has tried to avoid talking about the scandal, but with so many parallels to the current crisis, McCain's Keating history is relevant and voters deserve to know the facts -- and see for themselves the pattern of poor judgment by John McCain.
Posted by: susienews Date posted: Mon Oct 6 18:36:50 2008
Message:
When all else fails, resort to name calling.
I used to admire the man, but McCain just keeps getting more and more hateful. He doesn't care about improving our nation, he just wants to get elected.
Posted by: Shea Date posted: Mon Oct 6 17:52:34 2008
Message:
Thank you, Peace.
Why anyone would want someone in the Presidency who lacks such a basic knowledge of economic ethics is beyond me. This is not a personal attack. It is reminding people that this man really couldn't care or know less about other people's money.
Another thing that my husband (advanced degree in history) has been bothered by is the fact that it was the Republican's economic policies that caused The Great Depression, and it is the Republican's economic policies which led to this latest debacle. Sure, in both cases there were other factors, but the big picture was and is that laissez faire and trickle down economics does not work and can backfire with an explosion that hurts everyone.
Posted by: Peace Date posted: Mon Oct 6 16:57:52 2008
Message: Sorry about that subject line of post above.....forgot and used quotes the rest of the title should say 'turn the page'
