In the wake of troubles at Lehman Brothers forcing the investment bank to file for bankruptcy, Americans are keeping a close eye on Wall Street. Fully aware of the fact that the economy is Americans’ top concern, the presidential candidates have been quick to comment on the crisis.
In a statement, Democrat Barack Obama called this the “most serious financial crisis since the Great Depression” and said “this turmoil is a major threat to our economy and its ability to create good-paying jobs and help working Americans pay their bills.”
Obama laid blame on the current administration, saying, “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 said that he has “consistently called for modernizing the rules of the road to suit a 21st century market – rules that would protect American investors and consumers.”
Republican John McCain issued a statement as well, saying “the crisis in our financial markets has taken an enormous toll on our economy and the American people.”
“It is essential for us to make sure that the U.S. remains the pre-eminent financial market of the world. This will be a highest priority of my administration. In order to do this, major reform must be made in Washington and on Wall Street,” McCain said. McCain also released a new ad emphasizing his plans to reform Wall Street.
At a campaign rally in Jacksonville, Florida, McCain began the event with some comments on the situation. “People are frightened by these events…these are very difficult times,” McCain said. “We will never put America in this position again. We will clean up Wall Street.” Obama will likely be discussing these events on the campaign trail this week as well.
Comments (14)
leopeter
15 September 2008 at 17:27 EDT
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Our economy is in ruins, because of the policies of the republicans. If you think that McCain will do somethink you are mistakenly wrong. McCain/Palin ticket rather focus on foreign issues rather than domestic. “It’s the Economy Stupids”.
I want to hear about the issues, not the lies, not the rhetoric, not about Obama, but what is it that McCain is offering.
Why does he need to look at his notes all the time, can’t he remember a few words. God help us!
Agbons David
17 September 2008 at 03:08 EDT
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when you do what you’ve always done, you get same answers. A vote for democrat is a chance for change. Yes we can!
lodrick
17 September 2008 at 04:35 EDT
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i think obama should win,because he is aman of peace,as you can recall all best american leaders are fom democrayic party.
Caitlin
17 September 2008 at 13:57 EDT
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I dont care what any of you people say. MCCAIN IS GOING TO WIN…not obama…and that is perfectly fine with me…yeah bush didn’t do a great job but I guarentee mccain will be better than him or obama could ever think about being…especially since Governor Palin is on his running team now…keep wishing but its not going to happen.
leopeter
17 September 2008 at 18:12 EDT
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do you not read the news, watching Fox news does not educate voters, just makes them stupid. Why on earth would you vote for another republican, after 8 years of Bush. Can’t you see the disaster he has caused to our economy, do you want mcLie to continue this process. Come on, this is not time for Partisan politics, wake up, get out to the city, put your gun down, and stop listening to those religious right-wingers, believe in yourself, it’s time for a real change, this is a watershed election. Make your vote count for the betterment of the U.S.
dennis moore
18 September 2008 at 05:12 EDT
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This economic crisis is not new. it is a gift from Bush-republican to the country. Why McCain is most of the time talk about his rival. his duty is to explain to the public what he will do for the present issues which is facing to the country one by one. He failed in this respect on many occasions. it looks like his vision is limited. Voters understand this. Still the remaining days for election will show how the the shape of things is going to emerge both at national and international level.
Http://www.statedemocracy.org
Jerome
18 September 2008 at 10:12 EDT
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Arnold for president! Yarghg, get to thee white house….Yarghg!!!!!!
Eric
18 September 2008 at 14:57 EDT
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This is what’s troubling in American politics. As voters continue to be inflicted by sexist assaults and technological ignorance from the candidates on a daily basis, all the media can focus on are distractions like this financial bailout ordeal.
David White
18 September 2008 at 17:33 EDT
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No matter McCain or Obama, Each has his hidden agenda that simplistic voters won’t know until one of them is chosen as a president.
Instead of improving American image to regain respect in the world, the new president is going to continue with the war, and killing innocent people so that a select few in a select few corporations keep getting wealthier.
I don’t see that the new American president will have either the mind, heart or guts to say NO to the Banks/Oil Companies/Weapon Companies and say YES to the public good.
Capitalism has definitely failed as a human economic system. We better start finding a better system instead of wasting our energy in choosing the next president. If you look harder, I can guarantee that ONE such system exists i.e. Islam.
The chances are that we will keep falling as a nation into the same pitfalls and wont wakeup until we are at the rock bottom, which does not seem far in the present circumstances.
God Bless America.
corrie van Lunteren (Netherlands)
20 September 2008 at 01:09 EDT
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Solutions for common people ? Propose all house owners in problems the possibility to keep living in their ‘own’ house, during one year they pay electric/water, maintain the house and pay the normal rent (instead of the morgage). During this year the bank tries to sell….or the owner tries to re-organise its finances -maybe with governmenthelp- to get a long-run morgage with reasonable intrest.
This prevents empty houses, which get demolished, copper taken out, and so on.
And prevents homeless families.
For the government it’s cheaper to compensate one year intrest and house price dropping, than compensate total house-loss.
Devon
22 September 2008 at 07:59 EDT
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Both parties(Obama and McCain) pays attention to their country’s economy but from my own perspective, i think if Obama has the chance to be in the white house there will be positive change because i saw him as a man of charity and someone that is out to serve his people and not a bloody leader
varun
22 September 2008 at 09:47 EDT
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I still don’t now how federal bank is able to hold the economy of America for so many months Hat’s up to governing bodies.who ever win American election ll not going to impact America in any means.I feel pity for Lehman brother s who open there account & became first victim to financial crisis.I think so Osama bill laden dream is becoming true.What i suggest to Americans is (Live free(with looted money) or Die hard(in search of money))
jon
23 September 2008 at 01:34 EDT
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to those who are still skeptical and doubtful of sarah palin, the more we should be skeptical, more doubtful and more vigilant about barack obama…afterall, he’s running for the presidency of the united states…the more we should be wary of his capabilities, his qualifications, his wisdom and his adeptness…lets not be deceived…
john Dao
11 October 2008 at 04:07 EDT
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All politicians mislead the American public to get elected president. It is sad what they tell the American people what they are going to do. For any bill to become law it has to pass the House and Senate, then the President can sign it or veto it. So, to say I will change health insurance, the economy, immigration laws, anything is ridiculous. I won’t vote for Obama he is linked to Muslim. McCain is too old. Vote for independent party.Why did Hillary Clinton go to Puerto Rico? The US Territory can not elect or participate in the November 2008 Presidential election. Puerto Rico should be independent like the Philippines. The great island considers themselves Spanish first, refuse to speak English if admitted as 51 state.The culture,heritage is different. We can’t end up like Quebec,bilingual education is not working in America anyways.Puerto Rican citizens protested to get the US Navy out.What does that say in itself.Puerto Rico deserves to be free after 110 years of territorial rule. The UK gave Hong Kong back to China in 97, they are doing ok.Why don’t the presidential candidates talk about the billions of dollars the US gives to Puerto Rico annually or mention it in the next debate?Why don’t the candidates talk about the status of Puerto Rico? Thank you.