Barack Obama had a speech prepared to celebrate the passage of the bill to bail out Wall Street. No doubt, he was ready to take credit for saving the United States from another Great Depression. He was so confident he didn’t even bother to convince those 95 democrats who voted against the bill. Now there’s some leadership for ya!
When he heard the news of the bill going down in flames, he had to postpone his speech by 40 minutes to scrape together a new speech. Why he needed 40 minutes to spew his tired old garbage is a mystery.
While he declined to cast blame on any one person for the crisis, Obama ripped McCain’s previous support for the de-regulation he says contributed to the collapse on Wall Street. “He’s fought against common-sense regulations for decades, he’s called for less regulation twenty times just this year, and he said in a recent interview that he thought de-regulation has actually helped grow our economy,” Obama said. “Senator McCain, what economy are you talking about?”
“I read the other day that Senator McCain likes to gamble. He likes to roll those dice,” he continued. “One thing I know is this – we can’t afford to gamble on four more years of the same disastrous economic policies we’ve had for the last eight. Read full story.
But according to Obama, this is not the time for partisan politics.
In case anyone is wondering which party stood in the way of stricter regulation of Fannie and Freddie, perhaps this video will help. While Obama blames John McCain’s policies for causing the current financial crisis, he fails to recall John McCain’s efforts in 2006 to pass the Federal Housing Regulatory Reform Act of 2005. The status of that bill is “dead”.
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