Skip to comments.McCain warns of dangers of Dem control
Posted on 10/28/2008 1:50:06 AM PDT by tomymind
KETTERING, Ohio John McCain launched an aggressive attack against Barack Obama on Monday, hoping to remind voters of the GOPs economic brand after a month of unprecedented government intervention in the financial markets.
This election comes down to how you want your hard-earned money spent, McCain said to a small audience at the Renaissance hotel in downtown Cleveland. Do you want to keep it and invest it in your future, or have it taken by the most liberal person to ever run for the Presidency, and the Democratic leaders who have been running Congress for the past two years Nancy Pelosi and Harry Reid?
McCains remarks - made just hours before Obama delivered an economic address billed as his campaigns closing argument for the election struck a recurring GOP theme in the closing days of the campaign: the dangers of Democrats controlling all the arms of government, the coveted trifecta of the House, Senate, and presidency.
(Excerpt) Read more at politico.com ...
I don’t think Democrats even want a 60 vote majority in the Senate.
B. Hussein Obama was coronated by the Democrat Party.
I’ve never been a McCain fan. In fact I used to swear I’d never vote for him. As it turns out, I’m voting for Palin and against B.O., and McCain gets that vote by default.
However, I’ll give this to him. He’s one of the most vigorous and determined 72 year olds on the planet. He makes a lot of mistakes, but he doesn’t let up and has been at it all out for two years.
If he loses, I hope he’ll not revert to the old McCain - pal to Ted Kennedy and Chris Matthews - but will use his vigor and drive to thwart B.O. at every turn possible.
Anyone who quotes Eugene Robinson is off their rocker. One of washington post’s 2 token minority writers, he is only a slight step up from Bob Herbert on the NYtimes who is equally as liberal but not as good a writer.
The contract with America was a farce. There has been a contract with America since 1787. It's called the Constitution. There would have been no need for the 1994 farce if Congress critters had abided by the Constitution all along. The GOP is just as much to blame by allowing for incremental socialism in an effort to expand its voter base.
Eugene Robinson otherwise known as “Chuckles the Clown”
“Why he chose...to campaign on a platform of slavish devotion to Republican orthodoxy is beyond me.”
Actually he has said some fairly Republican unorthodox things, and has even approached exposing the basic cause of this “sudden” meltdown that has been building for mor than thirty years.
I think it is important that McCain has highlighted GREED as a major cause of all these economic woes. Businesses used to be concerned with producing goods and services that would appeal to consumers. They were responsive to consumers and their stockholders. At that time (35 years ago) the top CEOs were earning about 40 times as much as their low level workers. They could live a very comfortable life, but still realize they were part of a larger world.
Then the money finagling ethos entered the picture. Buy companies sell off the assets, grab the gold and get out. More recently, all manner of money games such as caused the S & L meltdown, and currently the mortgage meltdown. Selling homes at teaser rates to people who could not afford them, bundling the mortgages and selling them overseas . Again grab the gold and get out. Take no responsibility. Currently top CEOs have been earning at a ratio between 400 to 1 and 1,000 to 1. Ken Lewis, CEO of Bank of America in Charlotte, NC detests the Manhattan money and its ethos. After making the merger with Merrill Lynch, he promised shareholders to cut costs by a staggering $7 billion before taxes. Not impossible considering big savings he has wrung from mergers and acquisitions of Countrywide and Fleet in 2004. He is especially anxious to attack Merrills pay scales. Merrill was paying typical Wall Street pay, he says. Their staff people were making a lot more than our staff people. That wont last. We intend to pay market instead. (From Fortune, 10/13/08.)
I have heard that McCain also proposed that the heads of companies that our tax money is used to rescue should earn no more the President of the USA, currently around $400,000. Fortune also reported that According to the Economic Research Institute, CEO compensation in 2007 increased 20.5% to an average $18.8 million in February, while corporate revenues increased less than 3%. Is it any wonder that companies are collapsing right and left.
More and more groups from both ends of the spectrum are beginning to recognize that CEO and other high level compensation has gotten completely out of wack. I looked at Forbes List of CEO Compensation the other day, and I think they said the CEO of Merrill Lynch was earning about $87 million. No wonder they got into financial trouble.
well in the private sector, profit is certainly an incentive but too much risk leads to failure and the greed is kept in check.
With freddie mac, there is unlimited profit with no risk of failure. It just grows and grows until it is completely irresistible because the govt will always back it up if it screws up.
The ping list is back, at your request.
“in the private sector...too much risk leads to failure and the greed is kept in check.”
I don’t know about that, it took several years for the cost of greed to become apparent and it is only now being checked to the detriment of the whole world. As to blaming freddie mac, I heard a figure somewhere that they and fannie only account for about 3% of the overall mortgage problem. Apparently these types learned nothing from the S&L scandal, since they did the same irresponsible sort of things, leaving us taxpayers to clean up after them. Of course, it is possible that in the long run there will not be a loss, but why should it be our responsibility in the first place.
Pelosi jumped right out and said that if the dems control is complete it will mean bipartisanship.
It will be clear by the first midterms that the dems will lose more than the 40 seats lost by bubba his first midterm.
I wouldn’t put it that high. Republicans will make gains though. I find it hard to believe that any of the southern blue dog seats or midwestern seats will stay in the hands of a democratic congress that isn’t largely center-right in nature.
It's called the Constitution.Isn't that the thing that says the Vice President is in charge of the Senate?
“More and more groups from both ends of the spectrum are beginning to recognize that CEO and other high level compensation has gotten completely out of wack.”
The only thing worse than a Liberal is a populist drone, like you, pretending to be a conservative.
I wonder...if I send my absentee ballot in with the vote for McCain et al., does that mean I get free license to make fun of him on FR all the way through Election Night?
While it might be the end of the GOP (a very miniscule loss, really), it won't be the end of conservatism. Another party will take its place. Moreover, despite their best efforts, our half-wit President, his father, Senator McQueeg and the neo-cons have not been nor will ever be able to destroy that.
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