Wrong ... this financial collapse will only benefit Obama since the blame will (as reported by Fox.com in their Lehman article) be placed on the Bush Admin.
Obama will most likely start today to hammer the Repubs. for the financial woes occurring on Wall St. and the mortgage industry. When people start to see their 401K’s and IRA plans plunge in the next week or two it will be Bush and the Repubs. that will be blamed by the media and Obama ... it will not be a good couple of weeks for McCain/Palin.
REPLY:
Yes the media and Obama will try to blame the current financial condition on Bush and his administration.
However, it will also point out that some of Americas greatest experience in the financial world did not have enough common sense to see that the financial sky was actually falling.
Many of us somewhat uneducated on FR were posting cautionary comments about Wall street and our out of control financial conditions as early as two years ago.
We were also laughed at quite often by many FReepers as being nothing but old negative Scrooges.