When will the GOP admit that our economy is in trouble?


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“In the biggest reshaping of the financial industry since the Great Depression, two of Wall Street’s most storied firms, Merrill Lynch & Co. and Lehman Brothers Holdings Inc., headed toward extinction.  New York-based Lehman, founded 158 years ago, said early today that it filed for bankruptcy protection after failing to find a buyer. Merrill Lynch, 94 years old and also based in New York, agreed to sell itself to Bank of America Corp. for $50 billion in an emergency deal hashed out yesterday,” according to Bloomberg.com.

Will the Republicans finally admit that our national economy is in major trouble?

“The five New York-based securities firms that dominated Wall Street have been reduced to two: Goldman Sachs Group Inc. and Morgan Stanley.”

That sure sounds like a mess to me!  Why didn’t any of this happen on President Bill Clinton’s watch?  Why didn’t the Democrat controlled Congress see this coming?  Why did President George W. Bush drop the ball?  And how are Barack Obama and John McCain going to reverse this mess?


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"Admin" is just editors Vern Nelson, Greg Diamond, or Ryan Cantor sharing something that they mostly didn't write themselves, but think you should see. Before December 2010, "Admin" may have been former blog owner Art Pedroza.