By Jwilkes from Eyes on Obama:
Apparently, not everyone agrees with John McCain that the "fundamentals of our economy are strong."
Apparently, not everyone agrees with John McCain that the "fundamentalsof our economy are strong."
Here is a brief look at how some of his fellow Republicans see the situation:
President George W. Bush: "America’s economy is facing unprecedented challenges...Given the precarious state of today’s financial markets, and their vital importance to the daily lives of the American people, government intervention is not only warranted, it is essential."
House Minority Leader John Boehner (R-MO) - "We have an unprecedented crisis."
SEC Chairman and former Rep. Chris Cox (R-CA) - "The current crisis is presenting new challenges on an hourly basis."
Former Fed Chairman (and Reagan appointee) Alan Greenspan - "First of all, let’s recognize that this is a once in a half century, probably once in a century type of event." Asked if it was the worst crisis he’d seen in his career, Greenspan answered, "Oh, by far."
Treasury Secretary Hank Paulson - "The underlying weakness in our financial system today is the illiquid mortgage assets that have lost value...These illiquid assets are choking off the flow of credit that is so vitally important to our economy."
Senate Banking Committee Ranking Republican Richard Shelby (R-AL) - "We know there’s crisis, there’s stress, in the financial markets that we haven’t seen in, say, 70 years."
Ranking Republican on Senate Budget Committee Judd Gregg (R-NH) - "A majority of the Republican Conference will understand about the risk to the nation...The situation is so dire, we can’t get wrapped around our ideologies."
Former Hewlett-Packard CEO and McCain Campaign co-chair Carly Fiorina - "These financial institutions failed today, in part, because they had borrowed too much money, and couldn’t pay their debts, when the price of the assets that they had borrowed to buy, i.e. homes, began to fall. We have to get the government’s financial house in order."
Vice President Dick Cheney - "We’re currently going through a rough patch here, there’s no question about it."
Former Massachusetts Governor Mitt Romney - "At a time like this, a lot of people are really concerned about what’s going to happen to the future of our economic system, and a lot of people are pointing in different directions. As Steny Hoyer just indicated, there’s blame in Congress. There’s blame in the administration. Look, there’s blame at the Fed. There’s blame in the rating agencies. There’s blame for the investors. Nobody could escape blame in a setting like this."
And the kicker:
Republican Vice Presidential Nominee Sarah Palin - "The economy is a mess."