Denver is not near the sea, but a sea of Obama fans gathered in Denver yesterday for a pow-wow that made the Mile High city a Mile Wide. Obama talked about comments McCain made on Meet the Press. “Just this morning, Sen. McCain said that actually he and President Bush ’share a common philosophy.’ That’s right, Colorado. I guess that was John McCain finally giving us a little straight talk — owning up to the fact that he and George Bush actually have a whole lot in common,” he said to laughter from the crowd gathered on a crisp Sunday afternoon near the state capitol building. “Well, here’s the thing though: We know what the Bush-McCain philosophy looks like. It’s a philosophy that says we should give more and more to millionaires and billionaires and hope that it trickles down on everybody else.”
As was mentioned in another post today, “Americans Must Not Vote!,” if elected, McCain will deliver 4 more years of the Bush agenda. This could be your last chance to vote.
Over the past few weeks, we’ve heard President Bush, Treasury Secretary Henry Paulson and various lawmakers declare that the root cause of the current financial crisis stems from illiquid assets related to mortgage-backed securities. But what does this really mean? And how can this “radioactive waste” be purged from the balance sheets of financial institutions holding these toxic securities.
John Sweeney, President of the AFL-CIO, responded to the original version of the bailout by describing it as “dangerous and ill-conceived.” Critics of the original proposal emphasize that the final plan must include limitations on executive pay and improved governance of public companies, taxpayer equity in distressed companies, independent Congressional oversight and a stimulus package designed to create more jobs.
Will the final $700 billion bailout plan resolve the fundamental cause of the crisis? What should the future relationship be between lawmakers in Washington DC and bankers on Wall Street? And how will the crisis impact the Presidential election? Dan Pedrotty, Director of the AFL-CIO’s Office of Investment, joins us to answer these questions and more.
Denver is not near the sea, but a sea of Obama fans gathered in Denver yesterday for a pow-wow that made the Mile High city a Mile Wide. Obama talked about comments McCain made on Meet the Press. “Just this morning, Sen. McCain said that actually he and President Bush ’share a common philosophy.’ That’s right, Colorado. I guess that was John McCain finally giving us a little straight talk — owning up to the fact that he and George Bush actually have a whole lot in common,” he said to laughter from the crowd gathered on a crisp Sunday afternoon near the state capitol building. “Well, here’s the thing though: We know what the Bush-McCain philosophy looks like. It’s a philosophy that says we should give more and more to millionaires and billionaires and hope that it trickles down on everybody else.”
