Showing posts with label sub prime lending crisis. Show all posts
Showing posts with label sub prime lending crisis. Show all posts

Wednesday, March 04, 2009

Stimulus plan: Invest in our country

It’s small businesses that will put people back to work; that’s how we’re going to get this country back on its feet. It’s entrepreneurs and small business owners who respond with enthusiasm that are key. Big, established, "trusted" companies dug this hole by defining success in terms of short-term profits on their bottom line that do little if anything to protect American jobs or the well-being of their employees.

When we see bulldozersCaterpillar tractor and excavators moving dirt for new construction, when we see trucks hauling instead of sitting idle at auction sites, then we'll know things are turning around.

While Bush was pushing privatized retirement plans, we were all being set up to fund Wall Street bonuses. We need lenders to play fair, not slap new fees and payments on consumers. More regulation of lending practices, not less, is critical to our economic health.

USA flagBottom line: The new administration needs to reverse the trend of layoffs and plant closures; our government needs to work for the people by rebuilding economy and the American Dream - by putting Americans back to work.

Thursday, March 27, 2008

Bloomberg Introduces Obama's Economic Speech

So, the dark horse in the 2008 campaign seems to have hitched his fortune's to Obama's momentum - what will it spell in the long run? Is the NYC Mayor now ahead in the VeePstakes? Granted that other luminaries endorsed and commented on the Obama positions, it was Michael Bloomberg there on the podium at Cooper Union. The Senator's entire presentation is available via his web site. This surely comes at a time when voters are worried about the growing storm of foreclosures on main street while troubled about the administrations evident focus on helping out those on Wall St.

Meanwhile, the Clinton campaign has accused the Obama folks of keeping the Theft of Valor story of her not exactly dodging sniper fire in Tuzla in the news to distract people from the "Wright scandal." Now I know Bill didn't inhale, but what of Hillary's staff? After all, the more people learn about Jeremiah Wright the better it has worked for Obama! The latest polls, taken before the rebukes from military vets would have had much if any negative impact on Clinton's numbers show Obama bouncing back nicely from a slight dip, and the interpretation is that Wright won't be a negative factor while the Tuzla story, which has been lively on the web for 24-48 hours, is still gaining traction in the traditional media and hasn't yet been reflected in polling data.

Is the Clinton campaign hoping that they can resuscitate the Wright story to eclipse the sequence of increasingly tall tales the Senator spun about the risk of sniper fire, or simply mis-speaking yet again? Are the Clinton's Bosnian Chickens coming home to roost?

Monday, March 24, 2008

Obama's letter to Fed Chrmn Bernanke about the sub-prime lending crisis

On Thursday, March 22nd, U.S. Senator Barack Obama's campaign released his letter to Federal Reserve Chairman Bernanke and Treasury Secretary Paulson urging them to immediately convene a homeownership preservation summit with key stakeholders to fight foreclosures driven by growth in the subprime mortgage market.

It was overshadowed in the mainstream media by continuing dissection of the Phildelphia speech on values and race from Monday, and in the blogosphere by Hillary Clinton's Bosnia hyperbole,



...or did she simply mis-speak? Well, it got everybody to stop talking about her tax returns. But while Senator Clinton wrestles with what may be a career-limiting memory lapse, it's worth noting that Obama hasn't lost sight of the impact this is having all across the U.S. despite the time-consuming nature of campaigning.

Obama for America

DIGG it!