Obama: U.S. in ‘Serious Financial Crisis’

Barack Obama says the U.S. is in the most serious financial crisis in generations. Obama called the troubles on Wall Street a major threat to the U.S. economy.

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September 16, 2008 at 2:47 pm - AP
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PaleRyder   September 16th, 2008 - 3:04 pm

Where’s your chance barry,show us how transformative you really are.Tell the truth about how this mortgage crisis was created.Started in the 90’s,with andrew cuomo,clinton’s secretary of housing writing the law to force lenders to give loans to people without any proof of employment and in some cases without any verification of income.It just wasn’t fair that some people did not have their own home,so create a feel good policy to ruin financial institutions across the country.Then when warned about the upcoming crisis and failure to pay,by these very same deadbeats,ignore it for the sake of election year.Cuomo designed this policy,dems and repubs voted yes and clinton signed it..TRUTH.look it up and find out for yourself,all a matter of public record.Hillary warned us about this in 05 as did gingrich when cuomo was pushing it thru congress.Now we are supposed to put more of these in dc.I don’t think so..true reform not words or speeches..actions.

Eileen   September 16th, 2008 - 8:15 pm

The sky is falling…the sky is falling…the Flim Flam Obamaman says over and over again!

Just like his mentor, Jimmy (Hamas) Carter did in the 70’s. He is expressing the same failed policies and doom and gloom scenario to the American people. It wasn’t until we got a real President, Ronald Reagan, that America began to feel good about itself again!

The Democrats want us to think we are on the brink of disaster. We are not! We are having problems that can be fixed and should be fixed. The greedy brokers in this country put us in this position, but we can’t entirely blame them because the government let them go on and on. Barney Frank, Chris Dodd, Senator Obama all had a part in the mortgage meltdown in our country and should be held accountable because they were in the position to correct this situation long, long ago and did not!

America, we need to be fixed not overhauled. President Elect McCain and Vice President Palin have the know how and will make the commitment to make the reforms and changes we need to correct these problems in our government.

But let me say, America, we need to get rid of the stalemated Democratic controlled Congress. The partisan Speaker of the failed Democratic House – Marie Antoinette Pelosi and her cronies have to go. We need good honest and committed men/women of both parties to help the McCain Presidency do the work the need to do.

With a Republican in the White House and a controlled Republican Congress we can get our problems solved and get back on track. I have faith in them, and I will vote for them in November!

“FLIM FLAM”: DECEPTION, FRAUD, DOUBLE DEALING.

King Bob   September 16th, 2008 - 11:25 pm

If there are any McCain people reading this go back to the mid 90’s when Andrew Cuomo, Secretary of HUD insisted that “Red Lining” for the poor be lifted from 42% to 50% thus Clinton went along with his suggestion. Couple that, with Greenspan lowing interest rates to 1% and it’s a recipe for what we have today. As an aside, Franklin Raines, who is Barack’s economics advisor, is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton.

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