HowardBush Tilts Towards Obama
September 19th 2008 22:44
Real Crash- Looking at Capitalism and its Laws:
In the desperate attempt to sell the bailout of financial instruments, such as Mortgage Backed Securities and other derivatives, there is an explicit Bush and White House tilt towards Obama. Whether this is temporary or not, it is obviously an attempt to break Republican, conservative resistance to the endless financial bailout.
In a White House press conference today, President Bush announced his support for the government's recent takeover of Fannie Mae and Freddie Mac, and the Federal Reserve's extension of $85 billion to bailout AIG. In a similarly motivated outburst, Democratic Presidential nominee, Barack Obama called on the Treasury and the Fed to continue the flood of credit to, essentially, bailout hyperinflated mortgages (i.e. financial institutions) under the guise of protecting households.
More Wall St. and White House-related money will be heading towards Obama in the coming days. John McCain and the Republican party in Congress have kept their noses slightly cleaner, relative to Bush, in this situation. McCain announced today that were he President, he would fire SEC Chairman, Christopher Cox. He continued that the SEC "kept in place trading rules that let speculators and hedge funds turn our markets into a casino." It may be kind of cute, but that is as far as it goes.
In a White House press conference today, President Bush announced his support for the government's recent takeover of Fannie Mae and Freddie Mac, and the Federal Reserve's extension of $85 billion to bailout AIG. In a similarly motivated outburst, Democratic Presidential nominee, Barack Obama called on the Treasury and the Fed to continue the flood of credit to, essentially, bailout hyperinflated mortgages (i.e. financial institutions) under the guise of protecting households.
More Wall St. and White House-related money will be heading towards Obama in the coming days. John McCain and the Republican party in Congress have kept their noses slightly cleaner, relative to Bush, in this situation. McCain announced today that were he President, he would fire SEC Chairman, Christopher Cox. He continued that the SEC "kept in place trading rules that let speculators and hedge funds turn our markets into a casino." It may be kind of cute, but that is as far as it goes.
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