Will the Meltdown of Wall Street Change how you will cast Your Vote?
Both Lehman Brothers and Merrill Lynch in America are illustrations of these two truths of social economics. Lehman Brothers is a long-established German-Jewish white-shoe Wall Street investment bank of some 158 years existence.
"Established 1850!" White-shoe-meaning that in the halcyon 1920s its partners could be found in straw boaters and white shoes in the idle summer months. Its clients were corporate America from the Main Streets of the industrial Midwest. It was a bank for America's business elite. What could be more soothing?
Obama - it's "more evidence ... that too many folks in Washington and on Wall Street weren't minding the store."
Biden - John McCain said, 'It's easy for me to be in Washington and frankly be somewhat divorced from the challenges that people have day to day.' He's right. If all you do is walk the halls of power, all you'll hear is the wants of the powerful."
McCain - "Our economy -- I think still, the fundamentals of our economy are strong -- but these are very, very difficult times.
Palin - Guys and gals, our regulatory system is outdated and needs a complete overhaul. Washington has ignored this. Washington has been asleep at the switch and ineffective, and management on Wall Street has not run these institutions responsibly and has put companies and markets at risk."
- tehabwaLv 71 decade agoFavorite Answer
But it does show once again how the Republican policies of "Let big business do whatever they want without any oversight" keep leading us to ruin.
Like Obama put it, pretty much.
"Small government" to Republicans means "The government makes every major decisions for citizens about their lives, but if the unscrupulous see a ay to make a quick buck, even if it destroys the economy, we say, 'Go for it.'"
McCain thinks that a disappearing Middle Class is just dandy.
- fdm215Lv 71 decade ago
No way. Look at the McCain supporters pretending this isn't a dark day on Wall St.
Republican Sen. Phil Gramm pushed through the legislation that deregulated the financial institutions. That's what led to the reckless greed that broke this large banks.
Does Gramm still think the recession is in our heads?
- CountryLv 51 decade ago
If anything it strengthens my support for John McCain, the last thing that we need is to raise taxes on these companies and through them even deeper into financial problems.
This change in Wall Street should show us just how important these companies are to our economy.Source(s): jcms
- Hnst abeLv 71 decade ago
Sure, it`s a known fact a democratic president always has or gets a good economy on their watch.
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- Anonymous1 decade ago
What meltdown? The market has been volatile as long as it has existed.
This is unhappy but necessary side of free markets. Companies fail all the time, that's the way we get rid of the misuse of resources.
- Anonymous1 decade ago
yes because im moving to canada or western europe now