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“The View”: Whoopi Defends Obama

To be fair Obama ~ likely as State Senator – wrote a letter warning about the mortgage crisis he saw looming. There was a vote to rein in Freddie and Fannie ~ but if Barack Obama wasn’t a US Senator at the time he could have nothing to do with it – besides express his concerns in a letter.

But the Republicans have been all for shipping jobs overseas – when John Kerry was talking about these things during the last election – remember – getting the workers to unbolt the factory which was then put on a ship to China – on Fox News – those weekend business programs – a couple of the panel were openly laughing at people losing their jobs to China – their argument was that if you want to make money – on the stock market – that that’s what needs to happen.

Isn’t understandable that if people don’t have a job – then they can’t pay their mortgages. Doh!

No one is laughing over there now – since the mortgage wave has started a tsunami which has hit their beloved Wall Street.

All in all what it does say is that no one can have it all – people are losing their homes in wealthy neighborhoods surely that had nothing to do with bad mortgages – sold to the poor.

By deregulating the market as John Mccain was proud espouse – until he woke up that one morning and found that the economy wasn’t fundamentally strong – was like giving the child all candy – because he likes it. But eating vegetables is important for growth. By placing Wall Street in a position to operate unregulated – so that they can act more freely to rake in more profits – they forget about the people on Main Street – the vegetables ~ were these people making money too? A corporation can try to make more and more profit ~ but are things like health care getting too expensive – causing people to go broke paying it. And with all the jobs over in China you increase profits – but Joe the plumber doesn’t have a job – as no one can afford his services.

That’s the Republican’s trickle down idea – but the Democrats idea is to build the economy from the bottom up and pay down the debt as you go – like Clinton did – when we witnessed the largest economy growth in US history ever.