Obama: Crisis on Wall Street is the Republicans fault. Oh, and pay no attention to all of those money-changers in my temple.
CHICAGO (AP) - Democratic presidential nominee Barack Obama said Monday the upheaval on Wall Street was "the most serious financial crisis since the Great Depression" and blamed it on policies that he said Republican rival John McCain supports."This country can't afford another four years of this failed philosophy," Obama said after the shock-wave announcements that financial giant Lehman Brothers was filing for Chapter 11 bankruptcy while titan Merrill Lynch was being bought by Bank of America for about $50 billion.
I am pretty sure that Mr. Obama would blame the recent failure of both Freddie Mac and Fannie Mae on Republicans also.
I have to say that the evidence squares nicely with Mr. Obama's side of the story.
Because you have to figure that if the Republicans had been getting lots and lots of campaign moolah from Lehman and Freddie and Fannie (like Mr. Obama) that they would have taken a lot more interest in the welfare of those companies (like Mr. Obama)...and then maybe those companies would not have failed.
Or something.
In the current Congress, 271 lawmakers have collected nearly $3 million [from Lehman and related entities] since 1989, with 72 percent going to Democrats. Democratic presidential candidates and senators Hillary Clinton and Barack Obama top the list of all-time recipients for the company, collecting $410,000 and $395,600 respectively.
Let's have a quick Household Name Death Match:
Ken Lay, CEO of Enron, who drove Enron into the ditch and was manipulating markets before George Bush even left the Texas statehouse.
Jim Johnson, former actual Obama campaign big (from Wikipedia):
From 1991 to 1998, he served as chairman and chief executive officer of the Federal National Mortgage Association (Fannie Mae), the quasi-public organization that guarantees mortgages for millions of American homeowners. Previously, he was vice chairman of Fannie Mae (1990-1991) and a managing director with Lehman Brothers (1985-1990).[snip]
On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson "to lead the process" for selecting Obama's running mate. On June 4, 2008, Obama announced the formation of a three person committee to vet vice presidential candidates, including Johnson. However, Johnson soon became a source of controversy when it was reported that he had received loans directly from Angelo Mozilo, the CEO of Countrywide Financial, a company implicated in the U.S. subprime mortgage lending crisis. Although he was not accused of any wrongdoing and was initially defended by Obama on the grounds that he was simply an unpaid volunteer, Johnson announced he would step down from the vice-presidential vetting position on June 11, 2008 in order to avoid being a distraction to Obama's campaign.
No contest. Ken Lay.
Meanwhile, the national mainstream press is hard at work in Wasilla, Alaska on an anonymous tip they received that Sarah Palin was juicing on steroids during her high school state basketball championship run.
[Emphasis in quotes above are mine]
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One thing I've learned from this sorry lot is that when they make a a pointed accusation it is often used to draw attention from them having done exactly the same thing, secure in the knowledge that the increasingly irrelevant MSM will carry their water. Or play lickspittle.
Recall Our Empress Hillary's charges of the "politics of personal destruction," right before she started in with both trotters.
And the "Vast right=wing conspiracy."
I figure it's sort of like children saying "Dibs" on something first, which works in the era of the sound bite when concentration is fractured.