Obama: Financial Turmoil Because Washington And Wall Street "Weren't Minding The Store"

[tekisui]

http://www.rttnews.com/ArticleView.aspx?Id=710024


(RTTNews) - Calling events in the financial markets "very serious and troubling," Democratic presidential candidate Barack Obama said Monday that the issues underline how "many folks in Washington and on Wall Street weren't minding the store."

Obama also blamed the problems on Wall Street to economic polices of the current administration, and the philosophy he says his opponent, Republican nominee John McCain, believes.

"I certainly don't fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to," Obama said, adding, "It's a philosophy we've had for the last eight years - one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else."

Obama continued, "instead of prosperity trickling down, the pain has trickled up - from the struggles of hardworking Americans on Main Street to the largest firms of Wall Street."

The Illinois senator called for regulation reform and trumpeted his economic program.

"For years, I have consistently called for modernizing the rules of the road to suit a 21st century market - rules that would protect American investors and consumers," Obama said.

more...

[OneGrassRoot]

1. Okay, that's a start...keep hammering that "trickle down" phrase....

even without calling it Reaganomics, people know that's what it is. That it started with republicans, even if Democrats didn't stop it or even helped facilitate it.

I don't want to let dems off the hook with this or anything else, but I believe (I KNOW) most of them have more honorable intentions at heart than those of the Bushco mindset.

So, we need to keep holding their feet to the fire, also, to remind them of country first, and that patriotism trumps politics.

[DeeDeeNY]

2. This needs to be put in an ad

[iamjoy]

3. He Needs To Put It In Simple Terms

I'm not kidding. Obama needs to go on the air and put the financial crisis in terms a kindergartener could understand - because that's the mentality of many voters. If he can do that, he can win these votes.

Too often, Democrats try to explain things intellectually, while the Republicans state things with simple certainty. We continue to go after the thinking voters. Well, we need more than that, we need a majority.

[Breeze54]

4. I'd agree... he needs to make it real simple....

:thumbsup:

I think he forgets that when he's talking to a journalist, that he's actually talking To The People'!!

[O.M.B.inOhio]

6. Yes: "The Republicans did this and want to keep on with the same."

All part of a philosophy that the Democrats look out for everybody and base their policies on EVIDENCE. They do everything based on greed and ideology. Take abstinence-only policies. The Evidence says it doesn't work in the real world. So after years of Republican ideology and policy, there's a rise in teen pregnancies and a rise in abortions. Democrats do what works.
Foreign policy: Republican ideology-policy, quagmire in Iraq, nukes in North Korea, our power less everywhere. Democrats do what works.
Industry regulation: Republican ideology-policy says, "Industry can police itself." There's a crash. They say deregulate. Another crash at taxpayer expense. Democrats do what works for everybody.
And on and on -- energy, insurance, environment, job security, homeland security.

Under Republicans, the super-rich get more houses than they can count and working families lose theirs.

[polichick]

5. Yep, this mess started with Reagan - time to take off the blinders!