This is a democrat’s dream day. Right up there with Iraq chaos. The more gloom and doom the more the rats love it.
Oil is at $94.23 right now.
I'm not so sure. I do think that chronic economic weakness would work work in their favor. But this is different. This is a situation that calls for an overhaul for how Wall Street interacts with the federal government so that we don't have a repeat of the current problems and we the taxpayers ultimately end up getting stuck paying for someone else's gross irresponsibility and disastrous business decisions. This plays straight into the reform theme of McCain-Palin, and unlike Obama and Biden they are proven reformers with a record of success (at least in Palin's case -- McCain has a record of being proven right in hindsight after often being a lone voice in the wilderness).
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"They have a huge problem with the mortgage and housing market story, and everyone is missing it," says a Republican political media consultant with ties to the Obama campaign due to the bipartisan nature of the firm he does work with.
"You look at Obama's economic advisers, the guys he has counted on from day one and who have raised him a ton -- and I mean a ton -- of money: Franklin Raines and Jim Johnson, both of them are waist to neck deep in the mortgage debacle."
Both Raines and Johnson have served as CEO of Fannie Mae, with Raines taking over from Johnson. Both are key political and economic advisers to Obama.
"How can Obama go out with a straight face and saw it was Republicans who made this mess, when it is his key advisers who ran the agencies that made the big mess what it is?" says a Democrat House member who supported Sen. Hillary Rodham Clinton. "It's his people who are responsible for what may well be the single largest government bailout in history. And every single one of them made millions off the collapse that are lining Obama's campaign coffers. If the McCain campaign lets this one go, they deserve to lose."
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Fanny, Freddie, and Obama [The American Spectator, Sept 8, 2008]