Posted on 03/27/2008 4:29:56 PM PDT by Sub-Driver
Obama blames 'ethic of greed' for economy By: Jeanne Cummings March 27, 2008 06:55 PM EST
Barack Obama went to New York Thursday and blamed lobbyists, greedy businessmen and complacent Washington politicians for creating “an ethic of greed” that led to today’s foreclosure crisis.
Not long after he left the stage, the Democratic presidential hopeful attended a fundraiser held by his campaign in a room in the Manhattan headquarters of Credit Suisse, one of the major investment companies caught up in the subprime lending mess.
While the fundraiser was not sponsored by the mortgage lender, Obama’s dual appearances highlight a challenge for all three of the remaining presidential candidates: convincing ordinary citizens they have the right formula for fixing the economy and enough independence from the nation’s financial mandarins to push it through Washington.
Hillary Rodham Clinton’s campaign pounced on the mixed images evoked by Obama’s New York schedule.
"According to the standard set by the Obama campaign, it looks like Sen. Obama will have a hard time cracking down on the practices that caused the credit and housing crises," said Phil Singer, the Clinton campaign spokesman.
But Bill Burton, an Obama spokesman, fired right back.
“Today’s event was a general fundraiser in a room paid for by our campaign and attended by people from varied backgrounds who are committed to changing the tone of our politics — and rejecting the kind of tactics that the Clinton campaign is now embracing. Any suggestion that this was a fundraiser hosted by the mortgage industry is laughable,” he said.
In truth, all of the candidates have made multiple trips to New York’s financial district — including the big investment firms now caught up in the mortgage meltdown — to collect cash for their campaigns in the past two years.
(Excerpt) Read more at politico.com ...
Well, we can’t all scam the folks like his beloved Rev. Wright has done all these years so he can afford a ten million dollar house in his retirement. Call it “greed,” but the rest of us have to make our nest egg the old fashioned way. We earn it.
Of course, no mention of irresponsible consumers living beyond their means.
Hilly and O’Bammy can take shots at each other that would provoke media howls if done by a Republican.
This is exceeding my wildest dreams.
And whose "former" pastor is building a 10,000+ sq ft, $1.6 million home. ($1.6 mill for 10,000 sq ft. must have vinyl flooring and formica countertops)
A) Greedy consumer
B) Greedy lender
C) Greedy politician
D) Greedy investor
E) It's all capitalism's fault
Nothing a little marxism couldn't cure, eh dickwad?
Wait a minute. I thought Obama said the government should help the economy (down because of greedy people) by bailing out foreclosures. I wish he’d make up his mind!
I heard on Kudlow’s show that the Obama’s don’t have any IRA accounts. They don’t invest into this country, someone should ask his opinion of capitalism, that would end his run for the White House right there.
Michelle Obama is self employed and earns millions, what exactly does she do to earn that kind of money? Talk about someone who is anti American.
I pulled out a summer hat and painted that on it - and I will wear it all summer.
Not many people in my county who don't know who I am - so I should get some reactions
...or, everybody should have a friend like Rezko to help with purchasing a home.
Or any mention of government forcing banks to loan in certain neighborhoods so as not to be accused of redlining.
He is an economic babe in the woods.......
I heard his speech where he talked about people taking advantage and being greedy and thought how can Obama say this with a straight face? and then won't any journalist ask him about his own home buying deals.
Is he talking about the greedy people who borrowed money from other people even though they couldn’t afford to pay t back?
...or, the able-bodied greedy “needy” system scammers.
Barak Obama hates white people.
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