“I believe, still, the fundamentals of our economy are strong…”
Senator John McCain, 9/15/08
Sen. John McCain has a history of looking the other way when financial institutions play fast and loose with rules designed to protect investors and taxpayers. Under the leadership of President Bush, Senator McCain and the Republican Congress, Wall Street gamed the system and American families and businesses paid the price.
Democrats are committed to turning our economy around and bringing about the change and the New Direction that Americans deserve and demand, including tough, independent oversight of the nation's financial markets.
President George Bush and Senator McCain say our economy remains strong. Below are some headlines from this morning's newspapers that draw different conclusions:
NEW YORK TIMES “Stocks Gyrate as 2 Wall St. Banks Falter”
WALL STREET JOURNAL “Wall Street Shakeup Rattles Markets”
FINANCIAL TIMES “Wall Street Crisis Deepens”
USA TODAY “Shakeup Rattles Markets”
LOS ANGELES TIMES “Market Plunges Amid Wall St. Uncertainty”
DETROIT FREE PRESS “All eyes on Wall Street as Crisis Mounts”
ST. LOUIS POST-DISPATCH “Big banks pool $70 billion to head off global panic”