Obama Picks Up Phone on Economy - GoFuckYourself.com

tony286 · 09-21-2008, 05:43 PM

this is a leader

http://blogs.abcnews.com/politicalra...-picks-up.html

ABC's Sunlen Miller reports: Since yesterday, Sen. Barack Obama has spoken on the phone with House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Senate Banking Committee chairman Chris Dodd, Rep. Barney Frank, Sen. Chuck Schumer, Rep. Ralph Emmanuel, former President Bill Clinton and Sen. Hillary Clinton about the economic situation and the plan for dealing with it.

Spokesperson Linda Douglass says that the conversations were about devising a "quick, bipartisan solution" to the economic crisis and they touched on the principles that Obama laid out in a speech in Charlotte, N.C., today.

"As of now, the Bush administration has only offered a concept with a staggering price tag, not a plan," Obama said. "Even if the U.S. Treasury recovers some or most of its investment over time, this initial outlay of up to $700 billion is sobering. And in return for their support, the American people must be assured that the deal reflects the basic principles of transparency, and fairness, and reform. We can?t allow this to happen again. They have run this government, they have run this economy into the ground. We?ve got to make sure that we lift if back up, but we?ve got to have some rules in place to make sure it doesn?t happen again."

Obama set out seven principles (several of which he has regularly mentioned on the campaign trail) for what he would like to see included in the government's bailout plan.

o No blank check. If we grant the Treasury broad authority to address the immediate crisis, we must insist on independent accountability and oversight. Given the breach of trust we have seen and the magnitude of the taxpayer money involved, there can be no blank check.
o Rescue requires mutual responsibility. As taxpayers are asked to take extraordinary steps to protect our financial system, it is only appropriate to expect those institutions that benefit to help protect American homeowners and the American economy. We cannot underwrite continued irresponsibility, where CEOs cash in and our regulators look the other way. We cannot abet and reward the unconscionable practices that triggered this crisis. We have to end them.
o Taxpayers should be protected. This should not be a handout to Wall Street. It should be structured in a way that maximizes the ability of taxpayers to recoup their investment. Going forward, we need to make sure that the institutions that benefit from financial insurance also bear the cost of that insurance.
o Help homeowners stay in their homes. This crisis started with homeowners and they bear the brunt of the nearly unprecedented collapse in housing prices. We cannot have a plan for Wall Street banks that does not help homeowners stay in their homes and help distressed communities.
o A global response. As I said on Friday, this is a global financial crisis and it requires a global solution. The United States must lead, but we must also insist that other nations, who have a huge stake in the outcome, join us in helping to secure the financial markets.
o Main Street, not just Wall Street. The American people need to know that we feel as great a sense of urgency about the emergency on Main Street as we do the emergency on Wall Street. That is why I call on Senator McCain, President Bush, Republicans and Democrats to join me in supporting an emergency economic plan for working families ? a plan that would help folks cope with rising gas and food prices, save one million jobs through rebuilding our schools and roads, help states and cities avoid painful budget cuts and tax increases, help homeowners stay in their homes, and provide retooling assistance to help ensure that the fuel-efficient cars of the future are built in America.
o Build a regulatory structure for the 21st Century. While there is not time in a week to remake our regulatory structure to prevent abuses in the future, we should commit ourselves to the kind of reforms I have been advocating for several years. We need new rules of the road for the 21st Century economy, together with the means and willingness to enforce them.

badmunchkin · 09-21-2008, 05:46 PM

good stuff

GrouchyAdmin · 09-21-2008, 05:48 PM

Oh good, he's spoken with all of the money-grubbing illegal-amnesty-giving cocksuckers running the same ticket.

IllTestYourGirls · 09-21-2008, 05:51 PM

completely missed the point with a lot of fluff that sounds good. classic obama keep the sheep at bay! I bet he gets zero changes to the bills and votes for them anyway like the patriot act and fisa...

B2BwithJoeD · 09-21-2008, 05:52 PM

What would be refreshing is LESS talk...

GigoloShawn · 09-21-2008, 06:19 PM

Quote:

Originally Posted by Webbilling JoeD

What would be refreshing is LESS talk...

Hi. Welcome to Politics. Would you like to take a number and wait in line?

marketsmart · 09-21-2008, 07:01 PM

Quote:

Originally Posted by GrouchyAdmin

Oh good, he's spoken with all of the money-grubbing illegal-amnesty-giving cocksuckers running the same ticket.

well, i know he's been talking to warren buffet a lot and buffet isnt offering his advice to mccain..

09-21-2008, 07:04 PM

Quote:

ABC's Sunlen Miller reports: Since yesterday, Sen. Barack Obama has spoken on the phone with House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Senate Banking Committee chairman Chris Dodd, Rep. Barney Frank, Sen. Chuck Schumer, Rep. Ralph Emmanuel, former President Bill Clinton and Sen. Hillary Clinton about the economic situation and the plan for dealing with it.

Spokesperson Linda Douglass says that the conversations were about devising a "quick, bipartisan solution" to the economic crisis and they touched on the principles that Obama laid out in a speech in Charlotte, N.C., today.

Sounds very bipartisan to me.

spanky part 2 · 09-21-2008, 08:38 PM

So what you republicans are saying is that you trust this administration to get something right?

Talk about sheep.

They should make them fire all the ceo's and cfo's of every company that wants money, with no golden parachute. Tell me this oh brilliant conservatives. Why are we gonna bail out banks from other countries with this deal?

The devil is in the details, just like the patriot act. We never learn from our recent history. Be afraid of this, be very afraid.

Ron Bennett · 09-21-2008, 10:20 PM

According to news reports, around 10,000 New York employees of now bankrupt Lehman's will get a share of a 2.5 billion dollar bonus pool set aside just prior to filing for bankruptcy.

http://www.independent.co.uk/news/bu...ff-937560.html

The rich certainly play by different rules ... bankrupt a company and still get a bonus ... while average folks across the country who go bankrupt often lose everything; where's the bailout for the rest of us, but I digress.

Ron

tony286 · 09-21-2008, 10:23 PM

Quote:

Originally Posted by Ron Bennett

According to news reports, around 10,000 New York employees of now bankrupt Lehman's will get a share of a 2.5 billion dollar bonus pool set aside just prior to filing for bankruptcy.

http://www.independent.co.uk/news/bu...ff-937560.html

The rich certainly play by different rules ... bankrupt a company and still get a bonus ... while average folks across the country who go bankrupt often lose everything; where's the bailout for the rest of us, but I digress.

Ron

its fucking crazy

spanky part 2 · 09-21-2008, 10:35 PM

bush and co. have 4 months left, wtf do they care. They are looking out for their friends at this point and the rest of us get to eat a shit sandwich.

09-21-2008, 05:43 PM	#1
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	Obama Picks Up Phone on Economy this is a leader http://blogs.abcnews.com/politicalra...-picks-up.html ABC's Sunlen Miller reports: Since yesterday, Sen. Barack Obama has spoken on the phone with House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Senate Banking Committee chairman Chris Dodd, Rep. Barney Frank, Sen. Chuck Schumer, Rep. Ralph Emmanuel, former President Bill Clinton and Sen. Hillary Clinton about the economic situation and the plan for dealing with it. Spokesperson Linda Douglass says that the conversations were about devising a "quick, bipartisan solution" to the economic crisis and they touched on the principles that Obama laid out in a speech in Charlotte, N.C., today. "As of now, the Bush administration has only offered a concept with a staggering price tag, not a plan," Obama said. "Even if the U.S. Treasury recovers some or most of its investment over time, this initial outlay of up to $700 billion is sobering. And in return for their support, the American people must be assured that the deal reflects the basic principles of transparency, and fairness, and reform. We can?t allow this to happen again. They have run this government, they have run this economy into the ground. We?ve got to make sure that we lift if back up, but we?ve got to have some rules in place to make sure it doesn?t happen again." Obama set out seven principles (several of which he has regularly mentioned on the campaign trail) for what he would like to see included in the government's bailout plan. o No blank check. If we grant the Treasury broad authority to address the immediate crisis, we must insist on independent accountability and oversight. Given the breach of trust we have seen and the magnitude of the taxpayer money involved, there can be no blank check. o Rescue requires mutual responsibility. As taxpayers are asked to take extraordinary steps to protect our financial system, it is only appropriate to expect those institutions that benefit to help protect American homeowners and the American economy. We cannot underwrite continued irresponsibility, where CEOs cash in and our regulators look the other way. We cannot abet and reward the unconscionable practices that triggered this crisis. We have to end them. o Taxpayers should be protected. This should not be a handout to Wall Street. It should be structured in a way that maximizes the ability of taxpayers to recoup their investment. Going forward, we need to make sure that the institutions that benefit from financial insurance also bear the cost of that insurance. o Help homeowners stay in their homes. This crisis started with homeowners and they bear the brunt of the nearly unprecedented collapse in housing prices. We cannot have a plan for Wall Street banks that does not help homeowners stay in their homes and help distressed communities. o A global response. As I said on Friday, this is a global financial crisis and it requires a global solution. The United States must lead, but we must also insist that other nations, who have a huge stake in the outcome, join us in helping to secure the financial markets. o Main Street, not just Wall Street. The American people need to know that we feel as great a sense of urgency about the emergency on Main Street as we do the emergency on Wall Street. That is why I call on Senator McCain, President Bush, Republicans and Democrats to join me in supporting an emergency economic plan for working families ? a plan that would help folks cope with rising gas and food prices, save one million jobs through rebuilding our schools and roads, help states and cities avoid painful budget cuts and tax increases, help homeowners stay in their homes, and provide retooling assistance to help ensure that the fuel-efficient cars of the future are built in America. o Build a regulatory structure for the 21st Century. While there is not time in a week to remake our regulatory structure to prevent abuses in the future, we should commit ourselves to the kind of reforms I have been advocating for several years. We need new rules of the road for the 21st Century economy, together with the means and willingness to enforce them.

09-21-2008, 05:46 PM	#2
badmunchkin Confirmed User Join Date: Feb 2003 Location: Los Angeles, CA Posts: 3,797	good stuff __________________ Custom, Full Color Printing with BIG Discounts for GFY! ICQ 283197499

09-21-2008, 05:48 PM	#3
GrouchyAdmin Now choke yourself! Industry Role: Join Date: Apr 2006 Posts: 12,085	Oh good, he's spoken with all of the money-grubbing illegal-amnesty-giving cocksuckers running the same ticket. __________________ AIM: GrouchyGfy

09-21-2008, 05:51 PM	#4
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	completely missed the point with a lot of fluff that sounds good. classic obama keep the sheep at bay! I bet he gets zero changes to the bills and votes for them anyway like the patriot act and fisa... __________________

09-21-2008, 05:52 PM	#5
B2BwithJoeD Confirmed User Industry Role: Join Date: Apr 2004 Location: PayoutMag.com Posts: 1,390	More Action What would be refreshing is LESS talk... __________________ BLOG IT! How Will You Spend Your 2014 Profits? - PayoutMag.com Ask me About - Unique Processing and Marketing Solutions - Your Only Risk Is More Revenue!

09-21-2008, 08:38 PM	#9
spanky part 2 Confirmed User Join Date: Oct 2003 Posts: 1,981	So what you republicans are saying is that you trust this administration to get something right? Talk about sheep. They should make them fire all the ceo's and cfo's of every company that wants money, with no golden parachute. Tell me this oh brilliant conservatives. Why are we gonna bail out banks from other countries with this deal? The devil is in the details, just like the patriot act. We never learn from our recent history. Be afraid of this, be very afraid.

09-21-2008, 10:20 PM	#10
Ron Bennett Confirmed User Join Date: Oct 2003 Posts: 1,653	According to news reports, around 10,000 New York employees of now bankrupt Lehman's will get a share of a 2.5 billion dollar bonus pool set aside just prior to filing for bankruptcy. http://www.independent.co.uk/news/bu...ff-937560.html The rich certainly play by different rules ... bankrupt a company and still get a bonus ... while average folks across the country who go bankrupt often lose everything; where's the bailout for the rest of us, but I digress. Ron __________________ Domagon - Website Management and Domain Name Sales

09-21-2008, 10:35 PM	#12
spanky part 2 Confirmed User Join Date: Oct 2003 Posts: 1,981	bush and co. have 4 months left, wtf do they care. They are looking out for their friends at this point and the rest of us get to eat a shit sandwich.