On Friday, America passes $750,000,000,000 bailout bill to help ease credit markets. Today, the Federal Reserve offers $300,000,000,000 per month for the next 3 months in Term Auction Facilities or short term cash to the credit markets.
It didn't work and the stock market was down 800 points at midday eventually closing down 369 points. The Dow is now less than 10,000. World markets nosedived as well. Investors fear the worst. The credit markets are still frozen.
What do the Presidential candidates do now? Assure the American people that they have a plan to help us?
Well, the people in glass houses, McCain & Palin start throwing stones, launching a full throttle smear campaign against Obama; the same Ayers, Wright, Rezko, Hussein smears that we heard earlier this year in the democratic primaries are back with a vengeance.
Obama lobs one back with high mention of the Keating 5 Savings and Loan debacle. Try as he might to talk about the economy and solutions, he is dragged down into a slug fest.
Tomorrow, the Presidential candidates debate. America is in a major recession, this is what we need to talk about. What are their plans for America going forward? This is what America needs to know. The best answer should win.
The nastiest candidate in this presidential campaign can't also be the best candidate to lead us out of this misery we are in.
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