A World of Hurt

See: http://www.newsweek.com/id/164972
Stating that Gramm-Leach-Bliley Act wasn't what caused the meltdown, and noting that "economists on both sides of the political spectrum have suggested that the act has probably made the crisis less severe than it might otherwise have been." And also:
http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html
Look and listen for yourself. Hear Obama in his own words discusses his links to both ACORN and the mortgage meltdown, and praises bundling and securitizing mortgages by banks as a means to float loans to the poor and spread the risk world wide. Never mind the link commentators point of view, just listen to what Obama says in his own words. A picture is worth a thousand words. Maybe more in the case of Obama comments in the last half of the first youtube link.

http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related

http://www.youtube.com/watch?v=8vJcVgJhNaU

See also:
http://boards.msn.com/MSNBCboards/thread.aspx?threadid=808692&boardsparam=Page%3d2

Below is a link to C-SPAN video clips of the Congressional hearings at roughly the time McCains attempt at S.190. to fix Fannie and Freddie. See for yourself who said what.

http://www.youtube.com/watch?v=_MGT_cSi7Rs
See also
http://www.newsweek.com/id/164732 from this web site. (oops!) stating that Freddie Mac was spending tax payer money to target Republicans in 2005 who were trying to regulate Fannie and Freddies fraud. Democrats were not targeted, as the were all in the tank with Fannie and Freddie to kill the regulations. Hear that, the article admits that Republicans were trying to regulate, and Democrats were trying to stop it from happening as a means to facilitate the Community Reinvestment Act.

The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

And the link below describes how some Democrats in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN, a group Obama has a long association with. See: Wall Street Journal

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

Who "Joe the plumber" may be is not the issue, though it's easy to see why the Dems want it to be. That's because the real issue is what Obama's comments to him revealed about Obama. In the exchange with "Joe the plumber" we find out that Obama really is as radical as his early political acquaintances, Davis, Ayers, Wright, etc., and that he is into the failed economic policy of wealth redistribution. Obama's tax and spending plans alone would be bad enough, but add Reid and Pelosi to the mix, with the three of them controlling both houses of Congress and the executive branch without any effective restraint, and you have something that should causes concern even among moderate Democrats.
See Wall Street Journal: A Liberal Supermajority:

http://online.wsj.com/article/SB122420205889842989.html

And whether McCain won or lost the third debate is also not relevant. He succeeded in the first half hour to plant the seeds of a Reagan style wipeout. Reputable historians and economists overwhelmingly agree that the taxation imposed by Hoover and FDR, and the "stimulus" spending and public works programs of FDR, actually deepened and prolonged the Great Depression. It was the production demands of WWII that got the economy going again. And when the war was over, the economy promptly went into recession.

See e.g. http://www.cbsnews.com/stories/2008/10/03/opinion/main4499465.shtml
And
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

Point is, Obama's programs require him to tax, and his health care plan is a hidden tax on all business, large an small. In reality, it does not really matter who he taxes, those taxes are going to be passed through the economy. He has to tax, because it is they only way he can pay for his massive social engineering experiments. Any first year economics student knows that taxation is a tool used to contract an economy experiencing inflation, because it reduces demand by reducing the amount of money individuals and businesses have to spend. It is contractionary, which is exactly what you do not want to do when the problem is that the economy is contracting already into recession. Like Hoover and FDR, Obama's plans will only make it worse for longer.

The Republican policies that have only benefited the wealthy and big business for most of the past decade are "hopefully" about to be put to rest. The misconception that tax cuts for the rich benefit the economy as a whole has been proven wrong time and time again; deep tax cuts for the super rich only provoke them to take more home for themselves rather than make capital investments in the businesses which they run. The populist Republican philosophy of "free market" deregulated business has also proven to be at its best disastrous, as the financial "credit sector" of our economy is on the brink of implosion.

These policies and their repercussions on a microeconomic scale have coalesced into a crisis in our general economy, and not only are we seeing those effects domestically, but we are beginning to see them across the world.

Bush and friends will soon disappear into the shadows from which they came, and we as a nation can heal the wounds that this administration has left as its legacy.

Although one reader blames the economic systems failures on the banks being in bed with wll street, i suggest a more global reason..the fractional reserve system itself and the federal reserve which took control through only 5 votes during christmas break to vote to turn over control of the govt run us treasury to the PRIVATE federal reserve....jesfferson stated that ..."if PRIVATE banks are ever allowed to control currency, first through inflation then deflation ht ecorporations and businesses that grown up around it will deprive the american people of the land that their forfathers counquered..starnge how 200 years before we had the fed jefferson knew what would happen..wake up people and learn your history and what is happening to our system....no one has a real clue...

The Democrats had control of congress for the last two years. This means there is a chance that everyone in this country will have to put up with the same old Democratic politics for the next four years. But look at the bright side, after four years of Obama & Company in congress, the country will be ready for REAL CHANGE.

Look and listen for yourself. Hear Obama in his own words discusses his links to both ACORN and the mortgage meltdown, and praises bundling and securitizing mortgages by banks as a means to float loans to the poor. Never mind the link commentators point of view, just listen to what Obama says in his own words. A picture is worth a thousand words. Maybe more in the case of Obama comments in the last half of the first youtube link.

http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related

See also : http://www.newsweek.com/id/164972 This web site:
Stating that Gramm-Leach-Bliley Act wasn't what caused the meltdown, and noting that "economists on both sides of the political spectrum have suggested that the act has probably made the crisis less severe than it might otherwise have been." And also:
http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html