Black People : Lehman Brothers,etc.

Discussion in 'Black People Open Forum' started by Ms Drea, Sep 26, 2008.

  1. Ms Drea


    United States
    Oct 16, 2004
    Likes Received:
    +269 / -0
    Posted September 16, 2008 Comments(58)
    By Pamela Gentry, Senior Political Producer

    NEW YORK (Sept. 16, 2008) – Monday night, I walked past the live trucks and reporters gathered on 7th Avenue as they posted watch in front of Lehman Brothers spectacular office building.

    The bank building near the heart of Times Square fits in with a dozen six-story video screens with rotating videos of landscapes from around the world. Tourists stopped to take pictures of the office building as if it would be gone tomorrow. Some posed carefully for family photos, making sure to include the company’s name and date stamp in the picture.

    Lehman Brothers has been in existence since 1844 when Henry Lehman immigrated from Rimpar, Germany, to Alabama. Lehman began as a dry goods store that catered to local cotton farmers in Montgomery. The business evolved from a merchandising firm to a commodities broker, and then later into an underwriting company that helped finance construction of the Pennsylvania Railroad.

    Now one of the most well established and well respected businesses in the financial world, it is rocked by the credit crisis and the slumping housing market, the same problems facing many American families. On Monday, the 158-year-old investment bank filed for Chapter 11 protection in the U.S. Bankruptcy Court in the Southern District of New York.

    The problems on Wall Street placed the economy back on the frontburner by both campaigns today. But you it’s clear the two candidates see the “problem” and the “solutions” completely differently.

    Democratic nominee Barack Obama called the crisis “the most serious financial crisis since the Great Depression,” in a statement and blamed the policies of the Bush administration. During a campaign stop in Grand Junction, Colo., Obama said that his rival, John McCain, is out of touch and would follow the same failed Bush policies.

    But McCain sees it differently, he told a crowd in Jacksonville, Fla., “Our economy, I think, still the fundamentals of our economy are strong. But these are very, very difficult times.”

    “Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs, while ignoring middle-class Americans, have brought us to the most serious financial crisis since the Great Depression.” Obama said.

    The Telegraph newspaper in London, reported, “By 9 a.m. yesterday [Monday] morning a trickle of figures carrying small cardboard boxes of belongings emerged from the Lehman Brothers London headquarters and headed for Canary Wharf station.” Within hours it was a study stream.

    Employees in London and other international offices were following the leads of their New York counterparts and joining the unemployment line.

    It will be interesting to see who the American people selected in November to get them through these tough times.

    Obama Raises $66 Million in August
    Posted September 15, 2008 Comments(46)
    By Pamela Gentry, Senior Political Producer

    (Sept. 15, 2008) – Supporters of Democratic presidential nominee Barack Obama decided last month to make sure their candidate has the cash on hand to compete against Republican rival John McCain.

    In August, the Obama campaign raised $66 million, a record breaking haul for a presidential candidate in one month. The fundraising clearly illustrated that the candidate can appeal to his donor base, engage new contributors.

    The campaign raised the money from more than a half-million first-time donors. But Obama isn’t out of the woods when it comes to cash flow. McCain raised $47 million during the same time frame, and because McCain will also receive the federal matching funds [$84 million], he’ll have a financial edge on the Illinois senator.

    With just two months remaining, McCain has the cash advantage because Obama must raise the public money he opted out of.

    Following the partys’ national conventions, the two campaigns and the two national parties bolstered their candidates with equal financial footing of about $94 million in the bank.

    “The 500,000 new donors to the Obama campaign demonstrate just how strongly the American people are looking to kick the special interests out and change Washington,” campaign manager David Plouffe said in a statement.

    McCain campaign spokesman Tucker Bounds said the announcement provides “66 million reminders that Barack Obama is willing to stray from reform, break his word to the American people and forgo public financing in favor of his own ambitions. Americans need change, not self-promotion.”

    McCain’s new running mate has also become a fundraising draw. His campaign will now have Alaska Gov. Sarah Palin on an aggressive fundraising schedule for the next two months. Palin has one fundraiser almost every two days for the remainder of the campaign.

    McCain’s campaign reported raising $10 million in the final days in August, a surge the campaign has attributed to Palin’s selection as running mate.

    But both candidates may set record-breaking fundraising goals before it’s over. Obama has raised more than $440 million for his presidential bid, an unprecedented amount. McCain’s campaign said it has raised $194 million.

    What’s the Fuss about? “Lipstick on a Pig”
    Posted September 10, 2008 Comments(146)
    By Pamela Gentry, Senior Political Producer

    (Sept. 10, 2008) — It looks like the media has taken the bait and will ignore issues impacting folks without jobs, health care and access to quality education to focus on and discuss “lipstick on a pig.”

    A comment made by Democratic presidential candidate Sen. Barack Obama that the McCain campaign has interpreted as being directed at Gov. Sarah Palin, the Republican vice presidential pick.

    While both camps have used the cosmetic smear - Republicans decided to take the comment and run with it. This behavior has J. Jioni Palmer of Media Matters Action Network asking: Why some media have “condemned the controversy,” but keep reporting it?

    Deciding he was would no longer be silent on the subject, Obama lashed out at rival John McCain’s campaign on Wednesday, accusing his camp of lying and trying to undermine his White House bid.

    “I don’t care what they say about me. But I love this country too much to let them take over another election with lies and phony outrage and Swift-boat politics. Enough is enough,” he said during a campaign event in Norfolk, Virginia.

    Obama was referencing a similar tactics used to torpedo Sen. John Kerry’s (D-Mass.) presidential bid in 2004 when they questioned Kerry’s military record and his metals of honor.

    “What many in the media have failed to report is that this is a common expression that both Obama and McCain have used previously,” Palmer a Media Matters Action Network spokesman said:

    “Instead, the media have once again fallen for the McCain campaign’s talking point hook, line, and sinker, repeating the false charge that Obama’s remark was a sexist attack on Palin. It begs the question: Are no attacks from the McCain campaign ridiculous enough that the media won’t drop everything and run with them?”

    Thanks to Media Matters Action Network, here are reactions from some media who aren’t buying the “Faux Controversy.”

    Time magazine’s Mark Halperin: On the September 9 edition of CNN’s Anderson Cooper 360, Halperin characterized the recent media attention to Obama’s comments as “a low point in the day … and one of the low days of our collective coverage of this campaign.” Halperin also asserted: “Stop the madness. I mean, this is, I think — with all due respect to the program’s focus on this and to what [CNN senior political analyst] David [Gergen] just said — I think this is the press just absolutely playing into the McCain campaign’s crocodile tears.” Halperin went on to say: “They know exactly what he was saying. It’s an expression. And this is a victory for the McCain campaign, in the sense that, every day, they can make this a pig fight in the mud. It’s good for them, because it’s reducing Barack Obama’s message even more.”

    NBC News political director Chuck Todd: On the September 10 edition of MSNBC’s Morning Joe, Todd said, “I think the McCain campaign is laughing — laughing their butts off this morning that any of us have taken the bait on this lipstick thing. I mean, this is a joke. It is laughable, and you know, look, our mutual friend, [MSNBC executive producer] Chris Licht, and I were having an off-air debate about whether we … should be airing the Web ad, because it’s such a faux controversy. It’s made up out of whole cloth by the McCain campaign. Hey, look, this is what they’re good at. They’re good at winning these news cycles, and … they have beaten the Obama campaign on these little — what I call — sort of shiny metal object days, right? They’re able to say, ‘Oh, look, shiny metal object.’ ”

    Time’s Jay Carney: On the September 10 edition of Morning Joe, Carney stated that the McCain campaign’s claim that Obama’s comments represented “sexism” was “false” and “ridiculous.” Host Joe Scarborough asked Carney what he referred to as a “journalist question”: “Obviously, a lot of people would be saying, ‘Well, they shouldn’t even respond to this lipstick attack from the McCain campaign,” but it’s extraordinary when you have one candidate calling another candidate for president ‘sexist.’ … How do you not respond to that? How do you not talk about that?” Carney responded: “Well, this is the cynical brilliance of the McCain campaign strategy. They’re throwing this stuff out there. It’s false. It’s ridiculous. It’s a common phrase, but they know they’ve got Obama trapped.” Carney also asserted: “I mean, it’s just — it’s false, and it’s fake, but it’s designed to throw Gorilla dust up in the air and force the public to focus on these issues and wonder whether or not Barack Obama is acceptable as president.”

    The Atlantic Monthly’s Marc Ambinder: Under the headline, “Obama Did Not Call Sarah Palin A Pig,” Ambinder notes: “The McCain campaign has little respect for Obama, but they don’t think he is stupid. And the only way one can conclude that Obama meant to refer to Gov. Sarah Palin as a pig is to have concluded that Obama is as dumb as a doornail.” Ambinder goes on to note that McCain has used the phrase in the past when referring to Sen. Clinton’s health-care plan.

    What do you think about all this chatter?

    Copyright © 2006 | Privacy Policy | Terms of Service