As Wall Street collapses, McCain declares that ‘the fundamentals of our economy are strong.’
By on Sep 15th, 2008 at 11:00 am
As Wall Street collapses, McCain declares that ‘the fundamentals of our economy are strong.’
Speaking in Florida this morning — the very day that two of Wall Street’s major banking institutions collapsed — Sen. John McCain (R-AZ) declared he “still” believes “the fundamentals of our economy are strong.” Watch it:
Though McCain noted that “these are very, very difficult times,” he seemed oblivious to today’s evidence of the crumbling foundations of the economy, with the Dow Jones industrial average dropping 300 points in the first 15 minutes of trading this morning. Yesterday, former Fed chief Alan Greenspan said this economy is the worst he has ever seen. (HT: Ben Smith)
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Hey, TP. Typo in your headline . . . "funamental" should be "fundamental". Unless, of course, McNumbNuts thinks that there really is something "fun"-amental about all this.
September 15th, 2008 at 11:03 amThis statement is so general it is innocuous. It's like saying the fundamentals of America are still sound. Basically, he's saying despite the markets going crazy, capitalism is still fundamental. There may be some disagreement with that on the far left, but I suspect most people in America are still going to stick with the current economic fundamentals.
September 15th, 2008 at 11:06 am"I would like to know if you are on crack? If so, that may explain a lot. If not it will be a long time before we trust you again."
~Questioner to Ken Lay after he assured employees that Enron was 'still strong.'
September 15th, 2008 at 11:06 amSen. John McCain (R-AZ) declared he “still” believes “the fundamentals of our economy are strong.”
Aren't the fundamentals of our economy based upon the number of working Americans and number of good jobs available ?
What is this old fool babbling about ?
There are grade-schoolers who are more intuitive and have a better grasp than he does.........
September 15th, 2008 at 11:06 amThough McCain noted that “these are very, very difficult times,” he seemed oblivious to today’s evidence of the crumbling foundations of the economy, with the Dow Jones industrial average dropping 300 points in the first 15 minutes of trading this morning. Yesterday, former Fed chief Alan Greenspan said this economy is the worst he has ever seen.
Difficult for who? According to his top financial advisor, working Americans are just a bunch of whiners. McCain himself doesn't appear to be hurting, he hasn't had to sell off any of his houses anyway. He must be talking about Lehman Brothers stock holders.
http://progressiveworldreview.com
September 15th, 2008 at 11:07 amWhat else CAN he say? The question is: Does he really believe it?
September 15th, 2008 at 11:07 amPLay him saying that over and over and over, and by November 4th, Obama will take both Arizona and Alaska!
September 15th, 2008 at 11:07 amDue to his recent track record, everything McCain says should be considered a lie until proven otherwise.
September 15th, 2008 at 11:08 amPerfect ad material. Juxtapose today's date, Wall Street collapse, and McStain repeating the same old tired "the fundamentals are strong" bullshiite. Add in a bit of McStain's lobbyists for Big Money, and serve it straight up.
PEACE
September 15th, 2008 at 11:08 am"Yesterday, former Fed chief Alan Greenspan said this economy is the worst he has ever seen."
---
I predict after making these comments on a day of such catastrophic economic events, Sen. McCain will get will see a 1.5 - 2.7% bounce in the national polls.
Up is down, right?
September 15th, 2008 at 11:09 amJohn McCain has never in his life lived like us. He, like George Bush, has been wealthy and privileged since birth. As a result, he will never get kind of insane stress it is to the average American to pay $4.50 a gallon for gas, $5 a gallon for milk, and $500 a month for health care that won't cover their kids or spouse when they get sick.
John McCain will NEVER get it.
September 15th, 2008 at 11:10 amWait..I thought the right looked to Wall Street as the measuring stick as to how well the economy was supposedly doing when confronted with challenges everyday Americans face?
What does "fundamentals" stand for, now that they've lost the middle class and Wall Street? Their wealthy benefactors holding shares in these companies must be losing money, too.
September 15th, 2008 at 11:11 amI saw it, McCain was saying a bit of everything for everybody.
He even called for less and more regulation in one sentence.
On another topic, if you haven't seen Palin in a bathing suit and rifle with a couple of cigarette smoking and beer chugging buddies, go to a blog called MILF AND MCCAIN . COM.
"Good Christian values" in that pic..
¶ AIO
September 15th, 2008 at 11:11 amPerfect ad material. Juxtapose today’s date, Wall Street collapse, and McStain repeating the same old tired “the fundamentals are strong” bullshiite.
Then, to top it off, ad in GDumbya's statement of this morning that is virtually the same as McNumbNuts' bullshiite.
"McNumbNuts = GDumbya . . . on steroids"
September 15th, 2008 at 11:12 amTo McCain, as long as Cindy keeps giving him his allowance money, the fundamentals of the (his) economy is strong.
September 15th, 2008 at 11:12 amHow does he define 'fundamentals' - fun? or damn mentals?
Our manufacturing sector has been dismantled and shipped overseas.
We lose thousands of good paying jobs each month.
Does he think Mickey D's service economy is a sound basis, with all those great, low paying minimum wage jobs?
Does he mean that it's fun to own seven homes? Or is it more about those damn mentals?
September 15th, 2008 at 11:13 amMcCon also said he would bring "transparency and accountability" to Wall Street. That's not credible given his campaign's stonewalling of the Palin "TrooperGate" investigation.
McCon-Pullin' "Fabric '08 America"
September 15th, 2008 at 11:13 amdustbag44 Says: There may be some disagreement with that on the far left, but I suspect most people in America are still going to stick with the current economic fundamentals.
Being all self-absorbed as you Cons tend to be, I doubt you've noticed that all other Inductrialized Nations in the world are marginalizing Capitalism in favor of becoming Socialistic Democracies, which serve people rather than corporations.
Yes, Marx was right. Capitalism will fail due to excessive greed, and eventually, 'people first' will be built over the crumbled fundamentals of 'money first'.
September 15th, 2008 at 11:14 amMcCain is a kept man. He has a sugar mama.
Keep reminding these neanderthals that voting for McCain is like voting for their bass-playing cousin that lives off his stripper girlfriend.
September 15th, 2008 at 11:15 amRight on, unbelievable. And I ask, why has this election become high on entertainment value when Americans should be seeing the writing on the wall that the democratic candidate happens to be pointing out?
September 15th, 2008 at 11:16 amJust add it to the "Myths of McCain" list, which is a feel good list for all who want to believe!
When the curtain is pulled and the John of Oz is revealed there will still millions who want to feel good, and will never not vote Republican.
September 15th, 2008 at 11:17 amLosing a loved one to Alzheimer's is a painful thing...I can't stand watching this on television with the pundits lying about it. The man is seriously out of touch and has chosen a PTA mom as his replacement.
September 15th, 2008 at 11:18 amOnce more, Johnny Boy has proven his theorem for getting ahead in life;
marry UP (McCindy) and screw DOWN (The American people).
McCain, the biggest scumbag in the scumbag Repug Party!
September 15th, 2008 at 11:18 amStatements like this, confirms my belief that people over 70 shouldn't be allowed outside.
September 15th, 2008 at 11:19 amMcCain has said he doesn't know much about economics. Former Fed Chairman Alan Greenspan says this economy is the worst he's ever seen. And Groucho Marx once said, "Who are you going to believe, me or your own eyes?"
September 15th, 2008 at 11:19 amSen. John McCain (R-AZ) declared he “still” believes “the fundamentals of our economy are strong.”
This reminds me of Kevin Bacon's character in Animal House. As the crowd is rushing towards him towards the end of the movie, he stands on the sidewalk shouting "Remain calm -- all is well!!" That is, just before the crowd flattens him on the sidewalk.
Then again, I suppose we need to remember that the old coot said he really doesn't understand the economy...as he shows us on a daily basis...
September 15th, 2008 at 11:19 amFirst they give us Ronnie Reagan with Alzheimer's then GW Boosh who is a dry drunk and maybe not so dry all the time, and now they try to give us another Alzheimer's victim with a hockey mom to replace him. These people have no morals.
September 15th, 2008 at 11:20 amCriminal Repukes at the ready to slurp up falling stocks at theft prices. Heard they have $80,000,000,000.00 to engourge themselves with.
September 15th, 2008 at 11:20 amdustbag44 Says: There may be some disagreement with that on the far left, but I suspect most people in America are still going to stick with the current economic fundamentals.
I don't suspect, I know that most people in America don't want their kids to grow up to be like you.
You are an out-of-touch far-right extremist.
September 15th, 2008 at 11:21 amPrincess Palin wasn't with him to charm the crowd. Johnnie on his own can't keep his foot out of his mouth.
September 15th, 2008 at 11:22 amTime for more Palin distraction.
McWars Says: Right on, unbelievable. And I ask, why has this election become high on entertainment value when Americans should be seeing the writing on the wall that the democratic candidate happens to be pointing out?
I think it has taken this much pain for the middle-class to realize that they no longer have the luxury of voting for Republicans. But, as long as the MSM is still willing to make it more like American Idol, and the cable is still working, I think people will lap it up - but in the end, vote for the Democrat who is going to cut their taxes.
September 15th, 2008 at 11:23 am#14-
September 15th, 2008 at 11:25 amThe "photo" of Palin in a bikini holding a gun is a fake. Check snopes if you don't believe that
dustbag44 Says:
This statement is so general it is innocuous...
There may be some disagreement with that on the far left, but I suspect most people in America are still going to stick with the current economic fundamentals
.....
Sweet Jebbus... and this statement is so general that it is meaningless...
September 15th, 2008 at 11:25 amalphainfinityomega Says:
I saw it, McCain was saying a bit of everything for everybody.
He even called for less and more regulation in one sentence.
On another topic, if you haven’t seen Palin in a bathing suit and rifle with a couple of cigarette smoking and beer chugging buddies, go to a blog called MILF AND MCCAIN . COM.
“Good Christian values” in that pic..
Just in case you were serious...
False. It's a PhotoShop creation:
http://www.snopes.com/photos/politics/palin.asp
We don't need crap like this to whack "Gidget and Geezer" - there's more than enough legit stuff...
September 15th, 2008 at 11:26 am...and Cal Malenky beat me to it.
September 15th, 2008 at 11:26 amGraham says this is all in the mind of America, McCain has such great advisors.................... More of the same incompetence that we have in office now.
September 15th, 2008 at 11:27 amNo one should ever sit in this office over 70 years old, and that I know.
September 15th, 2008 at 11:29 am-Dwight D Eisenhower
My guess is that things really aren't too bad in the McCain household. Let's see: Last month they were worth $155 million and this month $125 million---they will probably get by! Not only that, the people of Arizona will start drinking more and more Belgian Bud as things get worst for them. So things will be even better for Mac and Barbie really soon.
September 15th, 2008 at 11:29 amdustbag44 Says:
--------------------------------------------------------------------------------
This statement is so general it is innocuous. It’s like saying the fundamentals of America are still sound. Basically, he’s saying despite the markets going crazy, capitalism is still fundamental. There may be some disagreement with that on the far left, but I suspect most people in America are still going to stick with the current economic fundamentals.
September 15th, 2008 at 11:06 am
Whose 'economic fundamentals' ?
McDepends , who has a more convuluted version of Chimpy's , which has produced a $490 billion plus deficit ?
The only 'fundamental' principal of pure capitalism is the end result , which is never pretty ; deregulation allows corporations/big business to act with impunity and absolute lawlessness.
I doubt anyone except the moronic 20%'ers agrees with that......
September 15th, 2008 at 11:30 amAdd to the above that Big Auto is asking for a restructuring 'bailout' so that they can begin producing the more fuel efficient cars that the Europeans and Japanese have been producing for decades.
AND there's another major bank on the rocks ( I read this weekend, but forget who at the moment) and AIG is in trouble too.
A few months ago Bernanke and Greenspan were claiming that the economy would settle in the summer and that September would see an uptick.
September 15th, 2008 at 11:30 amI seem to remember a bunch of us here predicting that September would more likely be worse--and here we are.
5th Estate Says: I seem to remember a bunch of us here predicting that September would more likely be worse–and here we are.
So what do you predict for November, say, around the 4th... :)
September 15th, 2008 at 11:34 amsatirev Says: Incidentally, what the hell does “fundamentally sound” really mean?
Maybe it means that the fundamentalists are still clinging to rock bottom...
September 15th, 2008 at 11:36 amCaribou Barbie is prattling on in Colorado about our regulatory system needing to be 'overhauled' ; by whom ?
The McDepends campaign lobbyists ?
This dope sounds like she's auditioning for "Valley Girl II - Attack of the Brainless Wonders".............
September 15th, 2008 at 11:37 amPalin is in Colorado giving her re-speech and I say: "Thanks, but no thanks!"
September 15th, 2008 at 11:40 amWhen you separate McCain from the economy, each on it's own is scary, but when you combine the two, it's like a nightmare on steroids.
McSame:
"The issue of economics is not something I've understood as well as I should."
“I believe the fundamentals of this economy are strong and I believe they will remain strong.”
September 15th, 2008 at 11:42 amunbelievable Says:
5th Estate Says: I seem to remember a bunch of us here predicting that September would more likely be worse–and here we are.
So what do you predict for November, say, around the 4th… :)
I predict that the next day will be November the 5th, Guy Fawkes Night, when the thwarting of a plot by religious extremists to destroy Government is celebrated. :)
September 15th, 2008 at 11:43 am5th Estate Says: I predict that the next day will be November the 5th, Guy Fawkes Night, when the thwarting of a plot by religious extremists to destroy Government is celebrated. :)
:)
V!
September 15th, 2008 at 11:45 amDoesn't anyone in the audience ever ask, which fundamentals are you taling about Senator McCain?
That's all it would take to provide McCain with a Palin moment.
September 15th, 2008 at 11:46 amfundamentally sound means several things...
September 15th, 2008 at 11:46 am1: That the rich are getting richer and poor are well we're dying
2: John McCain "the Maverick" needs to drop the Maverick name and change it to :the Clueless one"
3: John McCain is clueless
OMG can you believe McCain? and Hockey Mom no comment except she's hot but that doesn't mean much
What are these fundamentals? Beer distribution?
September 15th, 2008 at 11:51 amAfter his public appearance wherein he uttered this gibberish-nonsense, he was also overhead saying "I know I soiled my Depends, but can I enjoy it for a while?"
September 15th, 2008 at 11:53 amAre these "fundamentals" to which he is referring the "known-knowns" of the "known-unkowns"?
September 15th, 2008 at 11:54 amdid someone say beer? :D
September 15th, 2008 at 11:55 amHe has admitted that he's mostly clueless about economy, so why does anybody listen to his belief in economy "fundamentals" (whatever that may be)?
Well, he's actually kind of right. The economy is quite resilient to shocks and won't change much in short notice, no matter what financial markets and governments do.
September 15th, 2008 at 11:58 amBut that's the problem, not an asset. It's a problem because the U.S. economy needs to change, needs to re-industrialize, needs to become sustainable (raw materials consumption, trade balance, influence on ecology).
McWars and unbelievable, I didn't say I agreed with what he was saying. I believe Obama doesn't go far enough in his taxation of the rich and I believe McCain's policies would be deadly to our economy. My point is, that I believe that is not a commonly held belief in this country. I think McCain's drumbeat of tax cuts resonates more widely than problems with mortgage backed securities and credit default swaps. I can't find it now, but earlier today I saw a poll that despite loads of evidence, Americans still believe McCain will cut their taxes and Obama will raise them. I know this to be false, but the McCain has been successful in convincing people otherwise, because it has long been entrenched that Democrats are the tax and spend party, despite the Republicans spending this country into bankruptcy. The theme here is perception vs. reality and right now the McCain campaign unfortunately is controlling the perception despite the reality.
September 15th, 2008 at 12:08 pmOne thing that erks me is a company goes under and the officers of the company draw multi-millions and their life is untouched while they ruin millions. Sure in a corporation, the owners can't be liable by law but does the law doesn't say they are privileged to retain future or current when the corporation goes under. The officers need to take the same losses as it's employees. Lets face it, We all let this happen by letting it go on for so long. This is definitely going to be an interesting election. That is if America doesn't go under in the process. I hope if the later is the case that North Dakota doesn't keep the name when it becomes a country.
September 15th, 2008 at 12:11 pmunbelievable Says:
PLay him saying that over and over and over, and by November 4th, Obama will take both Arizona and Alaska!
It's a ready made commercial. Show the headlines across the nation about the financial collapse that is happening, and be sure to put the date on them. Then, showing the date, have the McCain clip when he says the fundamentals are strong. End with, John McCain, out of touch with reality.
September 15th, 2008 at 12:12 pmnofltwlt Says:
Doesn’t anyone in the audience ever ask, which fundamentals are you taling about Senator McCain?
Not going to happen because neither McCain nor Palin take any questions after they deliver their canned speeches. Neither is up to a real Q & A. The only time McCain takes questions is when he is in his "invitation only" scripted town hall meetings.
September 15th, 2008 at 12:15 pmunbelievable Says:
:)
V!
And V! to you too! Also F! and W! (phonetic cousins).
:D
September 15th, 2008 at 12:16 pmThe confused, befuddled, angry old man probably believes the moon is made of cheese...
September 15th, 2008 at 12:20 pmMy God, the balls on this guy.
September 15th, 2008 at 12:29 pmNero, fiddling while Rome burns... set afire by his own army of mercenaires.
September 15th, 2008 at 12:42 pmExactly what fundamentals are strong? Exactly which ones?
September 15th, 2008 at 12:50 pmDoes anyone have a commercial signal jammer for the debates?
I'm sure McIIIrd will have a backbox ala the chymp, and I'd just love to see it start, then jam...
And watch McDeerEyes try to fumble his way through without a teleprompter or any outside cribbing...
September 15th, 2008 at 12:57 pmThe terrible part is that things need to be done NOW to start turning this economy around. Chimpy and the palace elite in Congress are doing nothing about the the larger effects of this disaster.
September 15th, 2008 at 1:10 pmImagine what the economy is going to be like by January.
Bad economic times bring on a lot more alcohol use, so McCain is probably thinkin' $$$KA-CHING! -- he and his aging heiress arm candy will be getting richer off of poor folks' sorrow.
Well, the good thing is that when Obama gets elected and the wealthy will have to actually pay a fair share again, they will be dumping their gains into charity for the tax breaks, and I'm sure either patting themselves on the back for being so generous.
September 15th, 2008 at 1:46 pmOn the bright side... Galveston's beach seems to be still standing
September 15th, 2008 at 2:08 pmObama needs to start naming off the failures and $$$$ of each 1 by 1 and say 4 more years of this? I can't believe McCain, can say today after Lehman Brothers files Chapter 11"our economy I think, is fundamentally strong". Wake up McCain!!! Why do the Republicans need to spend 400million/day in Iraq "funded by China" when they seem to doing just as good here at home.
Here is a time line of major events in the past year: I don't know about you all but the cost of groceries up here on the 49th parallel is starting to hurt.
9/15/2008 Bank of America agrees to buy Merrill for $50 Billion note: Merrill Lynch was worth 100B last year
9/15/2008 AIG shares fall 52 percent in early trading on reports that the insurer had turned to the Federal Reserve for $40 billion in bridge financing to ward off a liquidity crisis and ratings downgrades. later this day, NY governor allows AIG to use $20B of subsidiary company assets to stay in business. For the three quarters ended in June, AIG lost about $25 billion in the value of credit default swaps and about $15 billion on other investments, such as mortgage-backed securities, which are bonds backed by a pool of mortgages
9/15/2008 Lehman Brothers has filed for Chapter 11 bankruptcy protection under the weight of $60 billion in soured real estate holdings. listing debts of $613 billion
9/15/2008 McCain shows his experience on economics "our economy I think, are fundamentally strong"
September 5, 2008 Silver State Bank, Henderson, NV with approximately $2 billion in assets and approximately $1.7 billion in deposits was closed.
9/11/2008 Fannie Mae and Freddie Mac, Uncle Sam's now the proud owner of billions of dollars of mortgages, which are still resetting. And when the onslaught of subprime resets in option ARMs (adjustable rate mortgages) runs its course from 2009 to 2012--and Americans default on them--we, the taxpayers, will be left holding the bag. This bailout dwarfs the 1989 Savings and Loan Crisis, which "only" cost the taxpayers $124 billion
a plan announced in July that allows the U.S. Treasury Department to guarantee as much as $25 billion in loans held by the two corporations, who hold or guarantee more than $5 trillion, or half, of the nation's mortgages.
Fannie Mae and Freddie Mac are two "government-sponsored enterprises"This is what happens when you privatize things in government & McCain wants to privatize social Security
August 29, 2008 Integrity Bank, Alpharetta, GA with approximately $1.1 billion in assets was closed.
August 26, 2008 Press Releases The FDIC's "problem list" grew to 117 institutions from 90 at the end of the first quarter. That is largest number on the list since the middle of 2003. Total assets of problem institutions increased from $26 billion to $78 billion, with $32 billion coming from IndyMac Bank, F.S.B., Pasadena, CA, which failed in July.
August 22, 2008 The Columbian Bank and Trust, Topeka, KS with approximately $752 million in assets and approximately $622 million in deposits was closed.
August 1, 2008 First Priority Bank, Bradenton, FL with approximately $259 million in assets and approximately $227 million in deposits was closed.
July 25, 2008 First Heritage Bank, NA, Newport Beach, CA ,
July 25, 2008 First National Bank of Nevada, Reno, NV with approximately $3.4 billion in assets was closed.
Mutual of Omaha Bank, Omaha, Nebraska has agreed to assume all deposits (approximately $3.0 billion).
June 30, 2008, First National Bank of Arizona, Scottsdale, Arizona, merged with First National Bank of Nevada and was included in this action.
July 2008 First Heritage Bank N.A., Newport Beach, California, with approximately $254 million in assets was closed.
July 11, 2008 IndyMac Bank, Pasadena, CA with approximately $32.01 billion in assets was closed. The FDIC was named Conservator. a bank run on or about June 26, IndyMac customers withdrew amounts averaging $100 million a day from the bank, or a total of $1.3 billion in cash. The run caused a liquidity crisis which forced IndyMac to announced it was halting new loan submissions, closing its retail and wholesale lending divisions, and laying off 3,800 employees. At this time IndyMac was the second largest bank failure in United States history. Who would have guessed it would be just the tip of a much larger iceberg thanks to the Bush Administration & our congressional lead...
May 30, 2008 First Integrity Bank, NA, Staples, MN with approximately $54.7 million in assets was closed.
May 9, 2008 ANB Financial, NA, Bentonville, AR with approximately $2.1 billion in assets was closed.
April 11, 2008 Frontier Airlines files Chapter 11.
April 2, 2008, ATA Airlines, Inc., formerly known as American Trans Air filed for Chapter 11 bankruptcy
March 20, 2008 Aloha Airlines Honolulu, Hawaii filed for Chapter 11 bankruptcy. later reorganization filing into a Chapter 7 bankruptcy liquidation
March 11, 2008 Bear Stearns a bank run began on the securities and banking firm Bear Stearns. While Bear Stearns was not an ordinary deposit-taking bank, it had financed huge long-term investments by selling short-maturity bonds (Asset Backed Commercial Paper), making it vulnerable to panic on the part of its bondholders. Credit officers of rival firms began to say that Bear Stearns would not be able to make good on its obligations. Within two days, Bear Stearns's capital base of $17 billion had dwindled to $2 billion in cash, and Bear Stearns told government officials that it saw little option other than to file for bankruptcy the next day. By 07:00 Friday, the Federal Reserve decided to lend Bear Stearns money, the first time since the Great Depression that it had lent to a nonbank. Stocks sank, and that day JPMorgan Chase began an effort to buy Bear Stearns as part of a government-sponsored bailout
March 7, 2008 Hume Bank, Hume, MO with approximately $18.7 million in assets was closed.
January 25, 2008 Douglass National Bank, Kansas City, MO with approximately $58.5 million in assets was closed.
2007
October, 2007 Levitz Furniture was a nationwide chain of American furniture stores filed for bankruptcy a final time. It declared Chapter 11 bankruptcy twice during the period, in 1997 and again in 2005, both times emerging after a corporate restructuring and the participation of new outside backers
October 4, 2007 Miami Valley Bank, Lakeview, OH with approximately $86.7 million in assets and $76 million in total deposits was closed.
September 28, 2007 NetBank, Alpharetta, GA with approximately $2.5 billion in assets and $2.3 billion in total deposits was closed.
September 13 2007, the British bank Northern Rock arranged an emergency loan facility from the Bank of England, claimed it was the result of short-term liquidity problems. The bank's defenders claimed its cash shortage was the result of over-exposure to the failing US sub-prime mortgage market. A run on the bank that followed the emergency loan run began the following day, Friday, with reports of its internet banking site being overloaded, and long queues outside branches that day, Saturday morning and the following Monday. News reports on 17 September stated that an estimated £2 billion of retail deposits had been withdrawn by customers since the bank had applied for emergency funds.
August 2007 Countrywide Financial
February Metropolitan Savings, Pittsburgh, Pennsylvania, with approximately $15.8 million in assets was closed.
September 15th, 2008 at 2:48 pmBin Laden is declared the winner. This prescient guy predicted the financial meltdown and overstretch of the arrogant American empire.
September 15th, 2008 at 3:05 pmAs long as the rich get richer the economy is 'sound and strong' in the eyes of Bush, McCain, and the rest of the corporate cronies and devil-worshiping malchicks!
September 15th, 2008 at 3:10 pm"As Wall Street collapses, Grandpappy McSame declares that ‘the funamentals of our economy are strong.’
lol Did Gramps get the memo this morning or did he miss his daily prune juice this morning? Economy is strong? Let's recap:
Bank of America is buying Merrill Lynch
Lehman Brothers filed bankruptcy
AIG is borrowing 40 billion in federal aid
JP Morgan Chase is in talks of buying Washington Mutual
Do we look like we are living off the hog in this country, Gramps? I think not.
September 15th, 2008 at 3:32 pmAnd Nero fiddled as Rome burned. The band played as the Titanic sank.......
September 15th, 2008 at 4:34 pmSomeone should ask McCain-brain what "fundamentals" exactly is he talking about that are strong???
The GDP?? Kinda ok relative to EU and China
Savings rate of Americans? No, isn't it in the negative????
Employment? No, unemployment getting worse.
Dollar to Euro? No, but appears to be stabilizing due to European economies slowing down.
Trade Deficit? kinda getting better due to the weak dollar, but still big
Re-distribuiton of wealth to oil rich countries? No, getting worse
Federal Reserve bailing out Fannie and Freddie? No.
Collapse of Mortgage bond market(destroyed Lehman Bros and Bear Sterns and weakened numerous banks like Wash Mutual)?? No
Collapse of the housing market? Not yet, still declining.
Financial stability of the banks??? Some are still ok, but many show signs of weakness.
So where is the fundamentally strong stuff???
Just a bunch of stump speech nonsense.
By the way, can't someone ask McCain how his tax cuts that favor the wealthy has created more jobs??? It certainly hasn't work too well in the last 7 1/2 years.
September 15th, 2008 at 7:40 pmThis is another example that the "old world jounalism of Murrow, Cronkite and Rather is dead and buried. In the case of the Time Magazine reporter Ms Tumulty, she seems to think the finding out the who, what, where, when and how have been replaced with a steno pad, which she records what ABC said in rebuttle to the complaint of Congressman Kucinich. There is a great disconnect with what happened and the points made by ABC. She asks little of no questions to ABC. She takes what is handed to her and repeats it vebatim and then calls that reporting. I call is stenography. Lida Sohbet sohbet sesli chat Gelinlik Modelleri
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January 20th, 2009 at 10:00 am“Yes, I am now not in favor of that as I always have never been against it either. And that has been my position since the last time I spoke on this matter, or the next time also as I will speak in favor of supporting all efforts repealing it and keeping it just as it is.
And, I was also a POW.”
–The John McCain All Purpose Answer Generator sent from his coal-fired Blackberry
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There was a brief footnote in the report that quoted William Worfel, former vice chairman of the Coushatta Tribe of Louisiana, saying that Abramoff told the chief of a Mississippi tribe to spend $13 million "to get the governor of Alabama elected to keep gaming out of Alabama so it wouldn't hurt ... his market in Mississippi
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February 6th, 2009 at 8:25 amDow Jones industrial average dropping 300 points in the first 15 minutes of trading this morning
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There was a brief footnote in the report that quoted William Worfel, former vice chairman of the Coushatta Tribe of Louisiana, saying that Abramoff told the chief of a Mississippi tribe to spend $13 million “to get the governor of Alabama elected to keep gaming out of Alabama so it wouldn’t hurt … his market in Mississippi
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“As Wall Street collapses, Grandpappy McSame declares that ‘the funamentals of our economy are strong.
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March 14th, 2009 at 2:45 pmLehman Brothers filed bankruptcy
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JP Morgan Chase is in talks of buying Washington Mutual
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