This morning’s headlines are all screaming about what the Wall Street Journal calls a “Crisis on Wall Street”:
The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. filed for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp…
The damage on Wall Street is the latest consequence of a storm that began last year with the sharp decline in American housing prices and losses on loans and other assets tied to home values. Massive capital infusions have failed to stem write-offs and losses, and financial firms are running out of options to escape the damage.
But even as these headlines were hitting the streets, John McCain was telling audiences that “the fundamentals of our economy are strong”:
Steve Benen at Washington Monthly marvels at just how out of touch McCain is:
There’s being politically tone-deaf, and then there’s being this politically tone-deaf. It’s almost as if McCain wants to make it easy for [Barack] Obama to call him out of touch.
UPDATE (12:45PM): The Obama campaign responds:
“Today of all days, John McCain’s stubborn insistence that the ‘fundamentals of the economy are strong’ shows that he is disturbingly out of touch with what’s going in the lives of ordinary Americans. Even as his own ads try to convince him that the economy is in crisis, apparently his 26 years in Washington have left him incapable of understanding that the policies he supports have created an historic economic crisis,” said Obama campaign spokesman Bill Burton.
UPDATE (Sep. 16): From the comments, complete with bad grammar and incorrect punctuation:
95% have not lost thier homes , this is what happens when you are told you can buy a 300,000 dollar home when you can only afford a 125,000 . but wait 0 down hell yeah. ask your savior obama to let you move in with REV,WRIGHT , he has a big ass house .
Seems like if I wanted to ask someone to let me crash with them, I’d be better off asking John McCain. Seeing as how he owns seven “big ass” houses and all.
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Comments (11)
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You all are crazy. If you sign a mortgage, you are responsible. NOT JOHN MCCAIN! Ask Obama to take you crazy people in! WTF do you want a homeless person to be president? Get a damn education and work hard and then you will make more money. LEFT WING LOONIES! Mccain/ Palin 08!
Posted by Kelly on September 16, 2008 at 4:28 PM
Posted on September 16, 2008 at 4:28 PM
I am sorry to say I must agree with the previous post. Your representatives were blatantly ignorant and biased today as they were HUMILIATED on Neil Cavuto. Refusing to look at Obama's record while nit-picking McCain's is wrong. Yet another example of the stupidity and ill-structured ideals of changetowin.
Posted by Kate on September 16, 2008 at 4:40 PM
Posted on September 16, 2008 at 4:40 PM
I totally agree with kelly , you people are friggin nuts , take some damnn responsibility for your own actions, 95% have not lost thier homes , this is what happens when you are told you can buy a 300,000 dollar home when you can only afford a 125,000 . but wait 0 down hell yeah. ask your savior obama to let you move in with REV,WRIGHT , he has a big ass house . Get a friggin life. This is what happens when the unions are demanding that a business pays for everything that has to do with an employee like our janitors need 28.00 per hour , or our hotel maids deserve 22.00 per hour. You friggin people think you are entitled to everything . move it to mexico , stop dealing with your whining asses. Go Mccain Palin 08 . You People are whackos.
Posted by personal responsibilty on September 16, 2008 at 4:44 PM
Posted on September 16, 2008 at 4:44 PM
What happened to personal responsibility? How out of touch can you be to think that John McCain is responsible to take in these people and provide them housing. When you sign a mortgage, YOU are responsible. Chalk this up to a PR/publicity stunt that was poorly thought out and failed miserably. However, if you're serious about this approach, you may want to send an email out to some of the Democrats as it's public knowledge that John Kerry, Al Gore and others have multiple homes. If not, you may want to ask Barbra Streisand to forgo her expensive private celebrity dinner and instead make a generous donation of housing on behalf of the Democrats and your followers. Just a thought.
Posted by Betty on September 16, 2008 at 4:45 PM
Posted on September 16, 2008 at 4:45 PM
Shame on all of you! Its a sad day in our country when people spend more time picketing and demanding something for free than they do out looking for a job. This is a capitalist country and that is what made it great. Take your communist ideas somewhere else. By the way I am a single mother who works 50 hours a week as a nurse to support myself. You should try it sometime!! What has happened to our values and work ethic? We have the right to PERSUE happiness. No one should hand it to you. Keep your grubby paws off of other peoples earnings and take your socialistic candidate who wants to "redistribute wealth" with you on the way out of this country.
McCain/Palin o8!
Posted by Anne on September 16, 2008 at 4:55 PM
Posted on September 16, 2008 at 4:55 PM
Oh How Sad i Feel For you . Jealous Because mccains succesfull wife owns multiple property . oh wait we are entitled to those as well , i think mccain should be forced to sell his property and donate it to the obama camp so they can save all you people . Not Kiss it . bust your asses become succesfull and quit being so damn jealous of what others have from working hard all thier lives. you are not entitled to it . Get over it . Ask Barbara Streisand to do a 28,000 a plate fund raiser for the forclosed families . HAHAHAHAHAHHAHAHAHA. just like hussein obama he will leave you holding hands . wake up people.
Posted by justanother on September 16, 2008 at 5:50 PM
Posted on September 16, 2008 at 5:50 PM
Listen bottom line the middle class was priced out of the market which brought on by greed .Some were dum but most needed a home and that was the price they had to pay. Now to say janitors and hotel maids dont need 28 or 22 dollars an hour hellooo today thats not much and its people like you that a labor movement in the late 1800s was born and a new one is on and will get stronger as soon as obama is elected it will be tougher though because of all the jobs lost since the repubs been in but we will prevail. I build the buildings and the houses you live and work In because I have a union I one the right while making someone rich to have excellent benefits a real defind pension plan and a living wage yea I deserve my pay and more If I can get it with my skills. and those hotel workers cleaning your stank ass pubic hairs deserve $30 an hour.
Posted by Louie on September 16, 2008 at 8:47 PM
Posted on September 16, 2008 at 8:47 PM
P.S. To the nurse you sound Ignorant And I assume your not In a union because If you were you might only have to work 40 hours a week.It was the picket lines that got you an 8 hour day It was the picket lines that got you time and a half pay It was the picket lines that If your not in a union your pay still benefits from a union.Its nothing more than people united In unison to bargain a fair shake Its just business. I provide you as service you pay a fair price. Its so sad the way people see things even this day and age.Demanding something for free wtf are you talking about.
Posted by Luigi on September 16, 2008 at 9:13 PM
Posted on September 16, 2008 at 9:13 PM
Issue after issue t$he Republicans have seriously misrepresented the problems, the questions, and the answers! Though Democrats have not taken effective enough action by collaboration with the Republican Party they are much more in line with honest responsible discussion because the Republican Party must cater to its extremist wing of religious fanatics and financial subversives.
The Republicans have time and time again run up deficits and lied saying that the Democrats run up deficits.
Time and time again the Republicans have robbed the American people as a whole in order to cater to the rich represented by 52% of their delegates who earned over $500,000 a year whom John McCain has called middle class.
The government has to take action to stop this nonsense that has made the USA a third world country and had Robert Dole state that if Nixon wanted to get nominated the religious right would prevent it.
The Republicans are no longer Republicans they are thieves and liars who corrupt American society turning it into a virtual police state of low paying dead ends jobs,shoddy imported goods, dumb and dumber: As the aforementioned deranged Republicans arguing individual responsibility when they bash the American people and turn a deaf ear as they are deaf dumb and blind to the organized conspiracy of theft related to the real estate mortgage sub-prime crisis.
Posted by Andrew Stergiou on September 16, 2008 at 11:59 PM
Posted on September 16, 2008 at 11:59 PM
PS the aforementioned Republican idiots trully sound like idiots when they state maids make $22 and janitors make $28 an hour as that is the furthest thing from the truth.
Posted by Andrew Stergiou on September 17, 2008 at 12:04 AM
Posted on September 17, 2008 at 12:04 AM
I'm not big on party affiliation. I do believe that the American people have gotten themselves into big trouble. They say America is the wealthiest country in the world. I think we need to look again. Let's begin with values. This great country was founded on "In God We Trust" and the majority of the people have forgotten that. "Give us your poor, your tired, your weak" and that is what America has gotten. One way or another, people have come to this country -- poor, and tired, and weak -- thinking that America or the Government owes us. The Government does not owe us. We owe the Government. Look at the way other people in other countries live. In a word: modestly! Since we as Americans believe we deserve everything, whether we have earned it or not, we are in debt up to our asses trying to pay for stuff to keep up with the Jonses that we really don't need anyway. Watch Dave Ramsey. Listen to Ted Nugent, or Neal Boortz, or Shawn Hannity, and get your head out of your butts and stop being drug around by the nose by people preaching to you about everything you don't have and should have without paying a price for it...... The Union is important to many families to survive, but what ever happened to free enterprise. Can they not work hand in hand with each other. At this point, I feel like a minority. I'm paying my bills and making sacrifices to have what I have. When is the Government going to give me my fair share of the free stuff everyone else is getting because they can't pay theirs. Huh? Shouldn't I get a tax break because my taxes are going to bail out everybody that overbought? Or maybe I should get food stamps so I can eat steak because I really like steak and think I'm entitled to eat it because everyone on food stamps does. No! Instead I eat meatloaf and hotdogs and soup beans while the person in the grocery line in front of me has 3 full buggies of steaks and junk food they get for free that I'm helping to pay for.... It all doesn't make any sense and it really pisses me off. Wake up America!
Posted by FedupinAtlanta on September 23, 2008 at 3:13 PM
Posted on September 23, 2008 at 3:13 PM