Obama Fails to Solve Financial Crisis
Leading up to the break in the presidential campaigns, Barack Obama spoke confidently about his ability to lead the economy; quipping ecclesiastically about the poor leadership of the Bush administration. He had, he claimed, been multi-tasking between the campaign and dealing with the economy by phone with his fellow Democrats. Everybody liked his ideas, his plans, and even John McCain was adopting them. Everything was ok in his view and let’s get on with the campaigning.
The myth fell apart in front of a large assembled crowd of national journalists and cameras yesterday as Democrats and Republicans battled furiously over pork-barrel issues. Democrats were more interested in telling the cameras that they didn’t need John McCain around to solve the problem, but it was clear they were a long way from solving it themselves. Elizabeth Dole stepped briefly in front of cameras to remind people that she and John McCain had previously proposed regulation that would have averted the crisis.
Barack Obama made his biggest political mistake by not putting country before personal ambition. I am still of the conviction this was a rookie mistake that will end up amplifying his lack of experience and political maturity. He amplified the problem yesterday by being more concerned with political posturing – who gets the blame and the credit – rather than trying to contribute to a solution.
Barack Obama’s name is not as clearly associated with the Democratic Party’s position on addressing the problem. It might be that in the game of political positioning, it’s not a good idea when others are clearly not admiring his skills and knowledge and happily jumping on-board with his proposals. And it might also be because the Barack Obama fingerprints on proposals are starting to lead to something of a CSI investigation – leading back to his associations with shady, untrustworthy political figures and organizations.
Warner Todd Huston reports on the Democratic Party’s attempt to pork-barrel funds returned in the $700 billion bailout proposal, making them available to groups like ACORN, the National Urban League and the Hispanic group La Raza. Chris Adamo opines that Americans should be gravely concerned about Barack Obama’s relationship with the groups as an outgrowth of his experience as a “community organizer.â€
| More from Roger F. Gay
Stumble It!
September 26th, 2008 at 12:43 pm
Obama didn’t even say whether he supported the plan before them. He was voting present again. Obama has no plan. He is just the puppet of the Wizard of OZ-ama. After the right strings are pulled Obama’s mouth will open and the recorded message played. Who is the Wizard? Pull back the curtain.
September 27th, 2008 at 1:14 am
My bailout plan: Debtor’s Prison
Make it a felony to fail to make a mortgage payment on time, revoke all government licenses, and issue restraining orders depriving anybody who any bank employee poses any “risk” from going within 2 miles of their former home, even if they need to do so in order to work.
Begin a massive media campaign deriding all “deadbeat debtors”, create a huge government-run “enforcement” bureaucracy, and double the capacity of prisons to hold all of the deadbeats, all paid for by taxpayers.
Next, expand the program to include those not in foreclosure, so that the lawyers, judges, bureaucrats, and other hangers-on can keep making more money. Label anybody opposed to the plan on Constitutional grounds as somebody who is a likely “abuser” of victimized creditors.
Create and pass a new law, with input from nobody except bankers, called the Violence Against Creditors And National Treasure Act (VACANT). Have one banker after another speak on television shows like “Oprah”, “The View”, and anything on MSNBC about how they feel threatened by dangerous deadbeats wanting to get back in their homes.
Have Hollywood, Madison Avenue, TV Sitcoms, and political stump speeches revolve around the idea that these lowlife scumbag deadbeats don’t deserve any rights, because bankers have been oppressed too much for too long. Make bankers and creditors immune from any prosecution from foreclosure or imprisonment, under the premise that they are members of the victim class. Oust any judge or prosecutor who dares to apply the law equally to bankers and creditors.
Most importantly, presume any allegations made by a member of the victim class to be true, presuming all debtors to be guilty until proven innocent, and do not allow them to defend themselves before a jury of their peers.
If it’s good enough for fathers and children, it ought to be good enough for debtors and real estate. After all, it’s just a house, far less important than the well-being of children.
September 27th, 2008 at 1:21 am
DcFather:
Perfect.
September 27th, 2008 at 1:43 am
DcFather, that is so freaking cynical.
Notice I didn’t say you’re wrong.
September 27th, 2008 at 2:30 am
After the bankers write the VACANT law, Joe Biden can plagiarize it as his own too!
September 27th, 2008 at 4:45 pm
The financial crisis is beginning to resemble one prec eeding the Great Depression when bankers allegedly jumped out of windows.
http://www.dailymail.co.uk/news/article-1063356/Credit-crunch-banker-leaps-death-express-train.html
September 27th, 2008 at 10:03 pm
And as little as I understand it, this financial crisis has similar causes – schemes for building houses of cards by disconnecting investment from value. It is a high-risk gamble like embezzling from an employer to play the horses – hoping to win and return the original stake before anyone notices.