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This Is Obama's Moment

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Jeff In Milwaukee Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 09:07 PM
Original message
This Is Obama's Moment
John McCain is caught like a Moose in the Headlights. Just his luck, the crisis that came along during the election to underscore the candidates' ability to lead just happened to come in the area where he has the least expertise. And just to make matters worse, the small-government Republicans are adamantly opposed to corporate bailouts, while the pro-corporate Republicans...well...let's just say they're willing to be a little more flexible on the issue. McCain has no easy solution to this crisis.

Not that Obama has it much easier with his constituents. It's probably not an exaggeration to say that the majority of the Democratic Party is also opposed to corporate bailouts. Finally, bi-partisanship comes to Washington. But Obama has room to maneuver, and if he threads the needle on this issue, he can end this election early (Friday night, to be precise).

1) This crisis is more about Main Street than about Wall Street. Federal support should be primarily geared toward protecting the homes and assets of small investors and home owners. Credit for small farms and businesses should also be secured.

2) To the extent that Wall Street sees any federal largess, it should come with serious regulatory strings attached. The Depression-era banking regulations should be completely restored, and modified to include modern investment vehicles like hedge funds.

3) And there's no free lunch for Wall Street. They're not getting free money. It's either a guaranteed loan (with the government becoming the primary creditor in the event of default and with corporate officers personally liable) or it's an ownership stake in the company. Companies can have the option of "buying out" the government at such time as they are again solvent.

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No DUplicitous DUpe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 09:13 PM
Response to Original message
1. I agree, really bad timing of this crisis for Sen. McCain...
Too bad. As you stated, "caught like a Moose in the Headlights".
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Jeff In Milwaukee Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 09:14 PM
Response to Reply #1
2. I think he was hoping for a terrorist attack...
He got one, only the terrorists were wearing $5,000 suits.
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No DUplicitous DUpe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 09:20 PM
Response to Reply #2
4. Good one! And happy to kick your thread, with this reply.
:hi:
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ellaydubya Donating Member (301 posts) Send PM | Profile | Ignore Tue Sep-23-08 09:16 PM
Response to Original message
3. Very well put.
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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 09:26 PM
Response to Original message
5. You seem to have completely missed the point of the whole effort.
This is not about "bailing out the economy" or "helping little people" and their pathetic assets, this about further enrichment of our masters before the real fun starts, making sure we get through the elections with the power structure intact, and propping up the global Ponzi scheme.

Now, how is Obama going to do all that while convincing the flock that it is in their best interests to eliminate any pain from the parasite class?




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Jeff In Milwaukee Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-23-08 10:47 PM
Response to Reply #5
6. That is the "whole point" if you're a Republican
Normal people have another agenda.
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