They All Fall Down

n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?


The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Let's teach him we are smarter than that .

Hold them accountable NOW! while it will still help.

Elect Obama Biden 2008

SAVE AMERICA
OPEN THE DOORS
AMERICA IS A COUNTRY OF IMMIGRANTS
IMMIGRANTS WILL SAVE AMERICA
GIVE CITIZENSHIP FOR EVERYBODY WHO BUY A HOUSE BY CASH

Broken Obama took money from both Lehman Brothers and Fannie and Freddie to fund his personal interests; he took money from known felons (who are now in jail) to help buy his house. Now Broken Obama plans to give us the bill and make us taxpayers, who faithfully pay our mortgage each and every month.

As a public high school teacher, the current state of our public institutions reflect our values as a society, from my point of view. We are bailing out these failing institutions with taxpayer dollars while the state of our public school system continues to decline. I ask American voters to consider the following comparison of our institutions: private sector financial powerhouses vs. our public school system.

Good teachers are being laid off and class sizes are growing. No child left behind is a law that requires improvements without the promised funding to implement these improvements. And our schools are listed as "failing schools" because of unrealistic goals from unfunded mandates by the federal government. What is left in our public schools is often a stressed out skeleton staff that does not have the ability to properly educate our students.

Meanwhile, corporate lobbyists effectively secured deregulation and what they consider "optimal" conditions for their financial success (deregulation). And a few well-connected people have lined their pockets with enormous amounts of other peoples' money.

This sort of short-term gain at the expense of long-term growth way of thinking has infected our entire way of running our society. Enough is enough.

Unfortunately middle and lower class young people (the MAJORITY) of our future do not have the money or the resources to hire corporate lobbyists. Their teachers and their schools have very limited resources. Where are the organized efforts to actually support the reform and progress to advance our public schools into the 21st century and educate and prepare our future?

In every other developed and developing country we compare our students' progress with, there is a clear and dedicated effort to improve, fund, and prioritize education. In America, we are starving our schools while bailing out reckless fat cats who've thrived on greed. Is this the American Way? Or have we lost our way?

Imagine where we might be in ten years if only a FRACTION of the billions our federal government has spent on the Iraq war and corporate bailouts were actually INVESTED in making our public schools the most advanced in the world. THAT IS INVESTMENT. We will be "paid back" in our BEST capital resource: Highly Educated American Workers.

Let this be a lesson. Hopefully (as we say in class) we will learn from our mistakes and use our lessons to improve, grow, and succeed - hasn't that been the American Way?

Fannie Mae, Freddy Mac, Bear Sterns, Lehman Brothers, AIG and the rest of the failed institutions have failed primarily because of former Senator Phil Gramm. The Gramm-Leach-Biley Act stripped away the regulations separating banking from investment companies, insurance companies and mortgage guaranty companies. Those regulations were added after the Great Depression when it became obvious that allowing banks to be in bed with the stock market was a sure way to rig the system to collapse, as it did in 1929.

Lo an behold, a few years after the regulations were removed, the sh!t has hit the fan, and the inter-related investment, insurance, mortgage and banking industries are now starting to collapse, and guess what, you, the taxpayer will have to pay to clean it up.

Phil Gramm is the Senator who brought you the "Enron Loophole" that de-regulated futures trading, causing the prices of oil, gas and food to spiral out of control.

Senator Phil Gramm was McCain's top economic advisor until recently, when he was forced to step down after he said that there is no problem with our economy other than a "mental recession" on the part of a "nation of whiners." Phil Gramm is the man who McCain said he wants to name Secretary of the Treasury if he becomes President. You have to believe John McCain when he says that he knows little about the economy -- so little that he doesn't even know who to choose as an advisor.

Barack Obama addressed the Enron Loophole, futures trading, short-selling and Wall Street de-regulation months ago in his economic position papers, which are available on his website. Obama has been saying all along that he is going to put in strict regulations and clean up Wall Street.

McCain just started saying that he favors regulation in the past couple of weeks. How is it that McCain is going to put in new regulations, when he plans to appoint Phil Gramm, the man who caused the de-regulation, as Secretary of the Treasury? McCain says he would fire Christopher Cox, the SEC Chairman, to solve the problem. However, the problem is caused by lack of regulations on the legislative level, regulations that were removed before Cox was appointed. The SEC can only enforce regulations that actually exist, so making a scapegoat of Cox solves nothing. I would suggest that McCain is guilty of saying what's politically expedient, that he does not actually intend to regulate the banking industry. McCain knows that most Americans are unaware of the details.

I am a middle-aged white conservative Republican who loves America. I am voting for Barack Obama.

http://www.thecarpetbaggerreport.com/archives/15050.html
http://www.newsweek.com/id/145011/page/1
http://www.chron.com/disp/story.mpl/editorial/outlook/6007788.html
http://query.nytimes.com/gst/fullpage.html?res=9A01E0D81038F934A25752C0A9649C8B63
http://my.barackobama.com/page/community/post/stateupdates/gG5Rzb

In a few weeks we will make a choice that will decide our future.
I follow a economist named bob proctor who has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current real estate market meltdown ,and the picture he paints about what will happen in the next couple years
Is terrifying. He thinks it could get worse then the great depression.
Banks in the US are going under one after the other. Country wide the largest morgage bank in the world
Bear Stearns and Lehman brothers , and Merrill Lynch which are 3 out of the top 5 wall street firms.
And now Fanny and Freddy which hold 50 percent of the home loans in the United States.
The goverment took them over because they are essentially bankrupt.
If they didn't the entire financially system would virtually shut down, the stock market would crash
And we would suffer beyond what any of us have seen before
The future of these companies will fall into the hands of our next president
Lehman, Merill Lynch, and Bear Sterns have survived for over 150 years and survived even the great depression
They are important because the are the biggest engines of growth in america and
they are connected to almost everything.
The last time the real estate market numbers looked this bad was during
The great depression and real estate often leads the way into major economic recessions.
Bush just like Mcain doesn't understand the economy.
That not just my opinion its his own words. Not only does he not understand how to fix itHe does not understand exactly what is broken.Its no surprise that he doesnt. The people that make up these securities use complex math models very few people understand.They are basically bundles of thousand of loans some good and some bad that are then given rules based on complex math. It will take the best and brightest minds in the world to get us out of this, and the same things bush and mcain have done for the last 8 years
Have not worked so far and wont work in the future.
if you do what you have always done then you will do get what you have always got
90 percent of the time they have voted the same.
Please don't just take my word for it Start to read up on some of this yourself. MSN money, elliot wave and, bloomberg Have tons of articles That prove we are in the heading into one of the worst economies any one has ever seen. So why are the polls even close then ?
The chairman of mcains campaign recently said that people don't vote on issues
they vote on a personality composite which means. He is trying to sell personality instead of results.He believes people will vote against there own self interests.
Lets teach him we are smarter then that and elect the ticket that can
bring us back from the brink of a economic abyss.Mcain admits in the year 2008 he cannot use a computer even to send email.It impossible then that he understands how to help us. its time to wake up now while it will still help

McCain used to call himself the Deregulator. Now he is the Regulator Reformer. I agree with n83nbu and marcog91, except it is the Republicans who most advocat 'limited govt' and 'limited regulations'. That said, I agree: go after all of them. [marcog91, it is difficult for this Congress to do anything meaningful without more votes. The Repugnicans can block everything by not allowing bills to come to a vote, though i agree the Dems could be doing a better job in holding their feet to the fire.

It is not only the greed (in business) and lack of regulation (in government) to be blamed as the source of the recent financial turmoil, it is the bunch of people who advocate the risky ventures in the financial sectors as a mean of survival of the business world which are seriously in short of cash or capital as a result of high national and personal debts.

I don???t blame Bush for what is happening to these companies any more then I blame Bill Clinton for the fall of the ???DotComs???
Or anybody else in the 80???s for the Savings and Loans fiasco. It is all caused by greed. Bad mortgage loans that should have never been approved to people that did not care what they were signing. And when it comes to greed, Republicans and Democrats are all guilty. By the way what ever happened to that congressman that had the $90,000 cash stuffed in his refrigerator? I???ll tell you. He is still in congress sitting right next to the other
jerk that was caught playing footsies with an under cover agent in a bathroom stall. We need to open our eyes people. It is not just a ???Bush??? thing. Our system is incapable of policing itself and now the big boys on Wall Street want a piece of the action. After all it is very expensive to live in the Hamptons.

Hey n83nbu, Don't you people ever get a break at the Obama Campaign Headquarters? Let me ask you something. If the Dems are the majority in congress why don't they order an investigation into what really happened. Why don't they order an investigation into what happened at Fannie Mae and Fannie Mac? Who benefited by it, who broke the law and all the silly stuff. Why don't they? Makes you want to go ummmmmm!

WHEN WILL IT STOP? We were warned before Bush took office in 2000 that every business he had been involved in, he had run into the ground. Did we have the right to expect anything else with him at the controls of our economy? And McCain has supported Bush???s economical blunders 95% of the time!!

are all these companies failing run by Bush supporters

RO - Check your facts, fool. Unemployment when Reagan left office in 1989 was 5.2%. Unemployment peaked in 1982-3 (the same time the tax cuts were being implemented) and then dropped steadily down to 5.2% in 1989. Clearly the tax rate cuts and economic expansion cut unemployment significantly???by 4.3%???after it had increased by 2.5% from 1980-2.

Hmmm how much of a cut in salary did the CEO take if any. Look the CEO is the one responisable for the company. Not the employee's. Hmmmmmm I would say the all the excutives make bad decisions fron a company like this fialing chap 11 deserve Jail time., but they will walk away untouched with a quality severance package. The excutive should have to forfit any claims to serverance or packages they belive they are intitled to the contract was broken when they made bad decisions that caused the down fail of a company that was healthy a year ago.

The question was - What's next? Not what happened?