"We can't have the hands off, head-in-the-sand attitude that we've had over the last eight years"

[bigtree]

Obama on BLOOMBERG TV: Bush Administration 'Absent'


NEW YORK, Sept. 16th /PRNewswire-USNewswire/ After the biggest stock sell- off in seven years, Democratic Presidential nominee Barack Obama took aim at the Bush administration in an exclusive BLOOMBERG TELEVISION(R) interview last night. Senator Obama accused the Bush administration of being "absent" and failing to regulate the nation's financial markets adequately.

"We can't have the hands off, head-in-the-sand attitude that we've had over the last eight years and think we are going to reverse some of these trends," Obama told "Money and Politics" anchor Peter Cook.

Obama also questioned Republican presidential nominee John McCain's calls for renewed oversight of Wall Street.

"It's easy for John at this point to suggest regulators were asleep at the switch," Obama told the BLOOMBERG TELEVISION anchor. "The question I have is where was he pressuring the Bush administration, the president of his own party, whose economic policies he now entirely supports?"

If he is elected, the nation's financial regulatory system would be "more streamlined," said Obama. He told Bloomberg that it's "premature to offer up" detailed policy changes, but the Illinois Senator doesn't want the Federal Reserve to be responsible for "everything." Obama stopped short of supporting proposals to ease the housing crisis by having the federal government buy up mortgages and distressed debt.

The interview aired Monday at 10:30pm ET, and portions can be seen on the BLOOMBERG TELEVISION network Tuesday morning starting at 5:00am ET.


http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/09-16-2008/0004885686&EDATE=

[protect our future]

1. And McCain/Palin is suddenly ranting about cleaning up Wall Street

and reforming it.

Ya think Wall Street bigshots who'd decided to vote for McCain/Palin are now reconsidering? And influencing others to do the same?

[bigtree]

3. Nation says both McCain and Obama got money from Lehman and two others

. . . another article says Wall Street contributions will dry up

[OHdem10]

2. THE GOP CONGRESS did no oversight. They have responsibility

to oversee the Banking Industry, etc. It was not until Democrats
took over, did they have any hearings.