> tBone wrote: > For the first time in my life I am truly disgusted by my country. >
Frankly the one thing I know right now is that we have to get out of this sinkhole and we're going to need strong leadership to do it. If that means regulation or nationalization so be it. We can tweak or dismantle later. So if you're voting the economic crisis - and solving it quickly, the candidates stack up like this: (1.) BANKING REGULATION McCain: Spent 30 years along side Phil Gramm fighting for deregulation. In his own words from this year McCain said, "I'm fundamentally a deregulator." Obama: Spent his entire career advocating and fighting for citizen's interests on a local level. He is an Adam Smith "Moral Sentiments" thinker and favors regulation when it enables "the invisible hand." Verdict: Obama. If you think, as I do, that the next 4 years will be all about creating the *right* regulation Obama clears this hurdle with room to spare whereas McCain doesn't even get off the ground. McCain would have to reverse 30 years of thinking and work whereas Obama will simply continue what he's always done. (2.) THE CRISIS McCain: Has gone from everything is ok, to don't panic, to suspending his campaign, to absurdly calling for the sacking of the SEC chairman, to failing to get even his own party to support his initiative, to calling for using taxpayer money to buy mortgages high from banks and sell them low. And I'm sure he's not done. Obama: We must act quickly to restore confidence with a short-term investment that contains 4 core principles: protect taxpayers, invest rather than give away, provide treasury oversight, and provide homeowner assistance. He worked to get his principles built in and then lined up a coalition behind a bill and got it passed on the first try. Verdict: Obama. Thus far McCain has been an erratic failure while Obama has delivered a revised bill that contained his core principles. (3.) THE ECONOMY McCain: In his own words the economy is not McCain's strong point. His lurching behavior throughout this crisis proves him correct. Further, McCain is not interested in the economy. Even the economists that originally endorsed McCain have expressed concern over his latest mortgage buyout proposal. Obama: has the backing of America's most successful investor, Warren Buffett, as well as a majority of America's leading economists from the National Bureau of Economic Research who said that he "has the superior economic plan, a firmer grasp of economics and will appoint better economic advisers." Verdict: Obama. He's got the intellectual horsepower and curiosity to lead on detangling thorny issues like derivatives. Further he has the global support to secure assistance from our stakeholders; something we may desperately need. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:273865 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
