oil going back up....

[Dan Roman]

How is "the last few days of economic misery" Bush's fault, again?

There's a pretty good case to be made that what is happening is a result of lack of Government oversight and unabated greed is what is playing out right now.
The Republican "trickle down theory of economics" trickled into the pockets of a wealthy few a lot more than it trickled down.

 

[PCL_128]

Hopefully McCain will live up to his promise of reform and fix a lot of these abuses of power.

That was a joke, right?

 

[Scope out RJ's]

How is "the last few days of economic misery" Bush's fault, again?

How easily they forget about the democratic controlled congress.

 

[Cheeta]

Complete lack of oversight. Complete lack of morality. No accountability for out-of-control Corporate Bosses. Short-term (immediate) profit taking more importance than long-term viability of companies. Exorbitant corporate bonuses with no regard for the actual health of the firm.

Bush (and his cabinet) allowed all of this to happen. The reasons why can be debated until we're blue in the face (if you like him it's free market capitalism at work, if you hate him, it's corporate cronyism...). But, the reality is, he is at the helm and should have been watching for icebergs (especially as a Harvard MBA)...

Hopefully McCain will live up to his promise of reform and fix a lot of these abuses of power.

McCain and the repub's have since 05 have been trying to reform Freddie an Fannie but was blocked buy the dem congress...Check the congressional record.


Freddie an Fannie have been money trees for former dem operatives for years.

Clinton's OMB Dir was the head of Fannie for 6 yrs and pulled down 80 mil.

Hell Obama is second only to Dodd in getting lobbying money from Freddie and Fannie. $126,000 for Obama and $186,000 for Dodd.

Blaming the Repub's does not hold water.

 

[Bad-Andy]

McCain and the repub's have since 05 have been trying to reform Freddie an Fannie but was bloked buy the dem congress...Check the congresstional record.

Freddie an Fannie have been money trees for former dem opperitives for years.

Clinton's OMB Dir was the head of Fannie for 6 yrs and pulled down 80 mil.

Hell Obama is second only to Dodd in getting lobbying money from Freddie and Fannie. $126,000 for Obama and $186,000 for Dodd.

Blameing the Repub's does not hold water.

Freddie and Fannie are only a part of the economic meltdown that is happening right now. Look at WaMu, AIG, Bear-Stearns, (and my bet is 2-3 more to follow in the near future). Those have nothing to do with "former dem opperitives" (your spelling, not mine).

And, your statement about McCain and Repubs trying to fix things since '05 is completely inaccurate. The dems did not win control of the Senate until the 2006 election, taking over in January of 2007. So, from 2005-2007, the repubs had control of the Senate and the White House. Where was the reform? It was non-existent.

A more accurate statement would have been that John McCain has been battling both the Repubs and Democrats on this issue since 2005 (actually a lot earlier).

The old republican party (of which I am a member) has grown bloated and weak. They have become the Democrat party of the 80's and 90's (favorism, cronyism, special interests, etc). Change is what will save the party, and that change comes in the form of McCain (I hope). If not, the party will wither and lay dormant until someone else radical comes along and cleans it up. That clean up will include fixing things that other repubs (GWB) broke -- like rules governing corporate America.

So, I would sum it up by saying, yes the repubs are the problem. However, the dems are by no means the solution...

 

[Bad-Andy]

That was a joke, right?

No joke at all (and no, not sarcasm either). The repub party is broken, and my hope is that McCain can (and be willing to) fix it.

I'm not as anti-Obama as some of the other posters here. I don't think it's the end of the world if he wins (unless he gets whacked, as Biden scares the crap out of me...) -- then we're all doomed.

However, I think McCain (if he really is a reformer) is the better choice to clean up Washington and Wall Street. Just my opinion.......

 

[twott driver]

Bad joke right now. I am down here in Houston with 6 million other folks. Some of us are eating MRE's right now and the gas station DID run out of gas.

There's that indomitable hunter/gatherer instinct coming to the fore during trying times. Food water and gas in short supply and he's seeing what he can find on FI!

Seriously though, hope things return to normal there soon.

 

[PilotOnTheRise]

No need to panic. Oil leveled off at $100 and stopped the climb. The trend will continue down. People are just a little freaked out about the past few days of economic misery (thanks, GWB). Once the panic passes, things will return to the normal downward trend. Oil will be at or near $80/bbl by year's end.

I agree. Oil still below $100. Speculators would be crazy to allow price to jump too high, again, afterall, much of the reason the price has been going down, is due to a fall in demand, because of the high prices.

As for those who listen to these "analysts". We are supposed to have $200 oil at this point, according to some analyst, and when oil dropped to $115, analysts were saying it wouldn't go any lower.

 

[waveflyer]

the common sense school of business.
oil president= oil profits.
last year of oil president= no accountability= bigger oil profits.
But $150/bl oil won't happen at election time where republicans/profits are at risk. They made their money- but they have to attempt to keep it going.

 

[BoilerUP]

the common sense school of business.
oil president= oil profits.
But $150/bl oil won't happen at an election where republicans/profits are at risk. They made their money- but they have to attempt to keep it going.

So you think VOTE DEMOCRAT will make oil and fuel prices go down?