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BUD 28

How can anyone vote for Obama when he is rated number one most liberal socialistic Senator?. Liberal

socialism is responsible for our subprime financial meltdown. Our vote pandering, redistribute the wealth,liberal, socialistic Congress has crippled Fannie and Freddie and stopped effective financial oversight.McCain should have his hands slapped for "reaching across the isle" to these socialists.
Gbob_north:

We were in the middle of a massive bailout to make sure businesses and homes didn't end up being lost nationwide, and SOMEONE thought we were spending so much money already that now $420 of every $100,000 mortgage automatically goes to a community group...because what's .42% of $700 Billion when no one's looking?

Crone:

Well I think about half of the USA is just deaf, dumb, and blinded by BO. They won't realize it until he is elected.(I pray that he isn't)

Takeru:

ooooh .... I'm scared.....

Dunrunnin:

So that leaves the other half of the USA smarter how?????McCain has no clue what's going on.

James:

Dear Bud,
No, unregulated "free market" policies are responsible for the economic meltdown. The CDO' being bundled and sold all over the world were an invention of Republican Wall Street. If you listen to any of the economists talking, they all point to the deregulation of the financial system that began under Ronald Reagan as a major root of the problem. The repeal of the Glass-Steagall Act is also part of the problem and that was voted for overwhelmingly by both parties. If you look at real wages under liberal Presidents like FDR, Truman and Johnson, they were higher. You can see the statistics from the Bureau of Labor Statistics. Real wages started dropping under Nixon and plummeted under Ronald Reagan. His tax cuts caused business to go crazy with mergers and leverage buyouts. Bill Clinton had to reduce his plans in order to live with the results of David Stockman's trickle down economics. Congress was controlled by Republicans during all but two years of the Clinton Presidency. Senator McCain wanted to do something about Fannie Mae and Freddie Mac but so did Chris Dodd. The campaigned delayed action. McCain only wanted to go after Fannie and Freddie because they are public institutions. He isn't in favor of regulating private industry. Has he mentioned hedge funds? Warren Buffet called CDO's as "the real weapons of mass destruction" in 2003.

Frog:

Fantastic comments. Very well said. Kudos to you.

PinkPoodle:

So Obama's responsible for our economic mess?

Crone:

No, but his party is a large part of it.

Maggie:

racy63, the Republican party has been in control of Congress for the most part.

Pisces_26:

I am a Independent and i feel that if my tax dollars go to pay for the well beings of my fellow Americans the socialism is not a bad thing. My tax dollars are going to pay for one mans war, bank bailouts, no bid military contracts. What about we the tax payer? As for being liberal i have no issues with that if it keep the goverment out of my personal life and i wont have a certitan faith shoved at me every day of my life then i can have relgious freedom. Sounds like a good deal.

Maggie:

You have no idea what Socialism is, apparently, or you wouldn't be against it.

Hello:

Because it took over 10 years to raise the national minimum wage a buck but less than two weeks to cut a huge check that we dont have to support corporate america. The same people who claimed that "the market should decide" when they were raking in money and screwing over the consumer but now that the market has decided they loose they suddenly dont embrace this philosophy. Besides things like roads, schools, etc are social programs. Should we abolish all social programs and lock ourselves in our houses with our money while we watch our neighbors starve in the streets?

Takeru:

great point.

Maggie:

gfunk, if the Republicans have their way, yes, we will hoard the money while someone else is starving.

In today's world, that is life for many people.... sadly.

Hello:

@Monk I wouldnt say it's all republicans. Their party leaders are very poor representatives of their party as well as most of the democratic leaders.

Dunrunnin:

Yes, I can

Frog:

A little socialism would have gone a long way to preventing this. It is the unrestrained forces of capitalism that allowed this to happen. We saw one of the biggest bubbles in the history of our market driven by a mad dash by banks to give out risky loans to everyone they could find in order to make massive profits off of interest payments. And the housing bubble took our markets to new highs. But such an artifically inflated market can only sustain itself so long before it comes crashing back to earth. The current crisis is what happens when market forces are left alone to regulate themselves. Without regulation you get increasingly wild fluctuations. And this current crisis is the market imploding because it's previous highs were supported by nothing. If you think socialism caused this, you have absolutely no clue what is going on.

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