Archive for the ‘lindalouise16’ Category

Will we finally begin to be able re-focus our attention to the major issues? Or should we wait for another major power house securities house to go under, or should we simply wait for the stock market to crash? As I’m sure most of us have learned that just yesterday the 158 year old investment bank the Lehman Brothers after acquiring  a debt which reached beyond $600 billion has filed for chapter 11 bankruptcy. Adding to the fuel of the fire on Wall Street Merrill Lynch another once major dominating well known investment bank sold itself to Bank of America for $50 billion. Merrill Lynch was spared the same fate as the Lehman Brothers by Bank of America.

I wish I was finished with the quick recap of what has happened. AIG , the American International Group is on a mission to “restructure” their company before they are forced into a fate mirroring that of the Lehman Brothers or Merrill Lynch. As of today AIG may be bailed out with a federal loan of $85 billion. AIG is not just a Wall Street top player they are one of the world’s leading insurance companies. Yes that’s right the world.  AIG simply needs to be saved. The results of the collapse of this company would force many American’s into much disarray. For this company to be in turmoil is a great travesty and a clear screaming sign that our economy is boiling water.

Even though these three companies met their new fates over the past two days these events were a long time coming. Now can we finally move onto important issues right? Our two both articulate candidates and their just as equally intelligent running mates can finally address the hard hitting hot button issues such as the economy? I hope so, no I demand so.

In our 9/11/08 class discussion the economy was rated in our class as among the top two major issues we want to hear the candidates address. So how have they been doing? Between comments about lipstick, family issues and he says, he says, she says garbage we need to talk actual issues.

Senator Obama has jump started his campaign again and tried to steal the limelight the Republicans have held onto since the nomination of Sarah Palin.

Senator McCain is trying to fix his past comments about the economy that have run on a recent (recent as in today) Obama ad. It has been greatly emphasized that McCain is not the strongest on the issue of the economy. McCain has been quoted on saying “I don’t think we’re headed into a recession”. It is clear that this quote was lifted from a much longer response that was delivered to Bloomberg Television from back in January. McCain did go onto to say that this country is hitting a “rough patch”. This is not “rough patch” or something that happened over night and the month of January must not be seen as ions ago.

Aside from being terribly disappointed and simply frightened by comments made by John McCain about this country’s supposed okay economy Obama’s approach to addressing this major pressing issue at hand is just as disappointing. An ad about what McCain has said does not tell me what you are going to do for the voters and this economy. Even though running ads and speaking on what the opposing candidate has said and his views are important and are the unspoken rules of the presidential race but right now the voting population needs to be fed by the media and the candidates their individual plans.

Both of these candidates need to tell the voters what they are going to do to help take this country onto a path which is miles away from a great depression and not just a few centimeters away. The possible collapse of AIG would be enormously detrimental to this society and I will vote based on who assures me this country will not be thrown into a depression that could have been prevented or at least previously addressed.

Who will be this generation’s Roosevelt?


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