http://www.nytimes.com/interactive/2008/11/28/world/20081129_mumbai_graphic.html
On Wednesday night in November, Mumbai, India was attacked by terrorists who raided two- five star hotels, the city’s largest train station, a Jewish center, a movie theater and a hospital leaving dozens killed and several wounded.
Although India has had its fair share of attacks this has been one of the worst terrorist attacks yet. The terrorists used boats to transport themselves to Mumbai and made sure that the sites they hit were popular with tourists making sure they walked away doing as much damage as possible. On Thursday it was reported by the Mumbai police that a minimum of 101 people were killed and at least 250 wounded.
For those who were inside the hotel and who managed to escape during the time of the attack, reported that the attackers were taking hostages singling out Americans and Britons. In the early morning the Taj Mahal Palace and Tower Hotel was in flames.
The other attacks that had happened in India were less planned and were not as grand as the attacks that occurred on Wednesday night. These attacks were well planned and the terrorists had specific ideas to what they wanted to accomplish. Vilasrao Deshmukh the chief minister of Maharashtra State, where Mumbai is located, “told CNN-IBN station that the attacks hit five to seven targets, concentrated in the southern tip of the city, known as Colaba and Naiman Point. But even hours after the attacks began, the full scope of the assaults was unclear.
At midnight another attack began at a local movie theater, where tourists as well as locals ducked for cover as they heard gunshots going on around them, a nearby gas station was also blown up as well as the landmark Leopold, a favorite spot amongst tourists. With all of the attacks that are going on in India the American people as well as the rest of the world have India and its people in their hearts.
http://www.nytimes.com/2008/11/27/world/asia/27mumbai.html?pagewanted=2
Tuesday, December 2, 2008
General Motors Falling Faster Than They Thought
Following the General Motors crisis the company announced on Tuesday that it is in dire need of financial assistance and is requesting $34 billion dollars in federal loans and lines of credit. The three major motor vehicle companies, General Motors, Ford Motor Company and Chrysler have all underestimated the slum that they are now enduring since their last evaluation in November. General Motors has told Congress that they plan to drastically shrink the companies “operations to ensure its long-term survival,” but with everything that is happening in the stock market can the country afford to loan such an immense amount of money?
Congress responded that the plans that had been put forth to revive the company was unimpressive and that dramatic changes had to be made in order for them to receive any kind of loan. General Motors retorted that, “it was in such sire straits that it would deeply cut jobs, factories, brands and executive pay as part of its plea to get $12 billion in federal loans and an additional $6 billion line of credit.”
General Motors in the worlds largest automaker in the United States so what is happening to the rest of the motor vehicle companies? Chrysler another major business, is also asking Congress for similar requests and has asked for $7 billion dollars by the end of December in order to keep afloat. Although these two companies are suffering it is Ford Motors that seemingly has its priorities in order, but Ford’s chief executive, Alan R. Mulally said, “the prospect of a failure of G.M. would cascade through the entire domestic auto industry and put millions of jobs at risk,” he went on to say, “We are very, very concerned, and that’s why we went with G.M. and Chrysler to Congress even though we think we have sufficient liquidity.” Ford Motors has asked Congress for $9 billion dollars to be readily available if they enter the same situation as the other companies.
The plans and requests of these businesses are now being looked over very carefully by the White House and although no statement has been made yet on what to do but one thing is certain all of these companies must have a definite plan of what actions they wish to take in the future to avoid these kind of problems in the future.
Of course each of these companies would not be in a state of crisis if it were not for the fall of the stock market, and both chief executives of General Motors and Ford said, “they would sell their corporate aircrafts, and both said they would work for $1-a-year salary if federal assistance was forthcoming. But General Motors is planning on doing more to show that they seriously need the money that are asking for; it planned to, “reduce the number of salaried and hourly workers in the United States to 65,000 to 75,000 by 2012 from the current 96,000. The company also said it would reduce its number of factories to 36 from 47.” But with all of these cuts will it be ultimately beneficial for the American people?
http://www.nytimes.com/2008/12/03/business/03auto.html?pagewanted=2&hp&adxnnl=1&adxnnlx=1228266174-BMPbr3j4lElJEKz53KIaQg
Congress responded that the plans that had been put forth to revive the company was unimpressive and that dramatic changes had to be made in order for them to receive any kind of loan. General Motors retorted that, “it was in such sire straits that it would deeply cut jobs, factories, brands and executive pay as part of its plea to get $12 billion in federal loans and an additional $6 billion line of credit.”
General Motors in the worlds largest automaker in the United States so what is happening to the rest of the motor vehicle companies? Chrysler another major business, is also asking Congress for similar requests and has asked for $7 billion dollars by the end of December in order to keep afloat. Although these two companies are suffering it is Ford Motors that seemingly has its priorities in order, but Ford’s chief executive, Alan R. Mulally said, “the prospect of a failure of G.M. would cascade through the entire domestic auto industry and put millions of jobs at risk,” he went on to say, “We are very, very concerned, and that’s why we went with G.M. and Chrysler to Congress even though we think we have sufficient liquidity.” Ford Motors has asked Congress for $9 billion dollars to be readily available if they enter the same situation as the other companies.
The plans and requests of these businesses are now being looked over very carefully by the White House and although no statement has been made yet on what to do but one thing is certain all of these companies must have a definite plan of what actions they wish to take in the future to avoid these kind of problems in the future.
Of course each of these companies would not be in a state of crisis if it were not for the fall of the stock market, and both chief executives of General Motors and Ford said, “they would sell their corporate aircrafts, and both said they would work for $1-a-year salary if federal assistance was forthcoming. But General Motors is planning on doing more to show that they seriously need the money that are asking for; it planned to, “reduce the number of salaried and hourly workers in the United States to 65,000 to 75,000 by 2012 from the current 96,000. The company also said it would reduce its number of factories to 36 from 47.” But with all of these cuts will it be ultimately beneficial for the American people?
http://www.nytimes.com/2008/12/03/business/03auto.html?pagewanted=2&hp&adxnnl=1&adxnnlx=1228266174-BMPbr3j4lElJEKz53KIaQg
U.S. in need of a recovery plan and fast...
Now that the presidential race is over, President-elect Barack Obama is focusing all of his attention on the declining stock market and the ways that it can be improved. Since the fall of Lehman Brothers and the bankruptcy of General Motors, businesses as well as the general public are walking on egg-shells in the stock market. Although the stocks for Ford Motors rose about 10 percent and General Motors rose 5 percent, both car dealerships report that their sales declined dramatically during the month of November; General Motors sales were down 41 percent, Ford’s sales were down 30.6 percent and Toyota’s sales down 33.9 percent. With all of this loss of revenue, what can the country expect for the future?
President-elect Barack Obama spoke to the National Governors Association in Philadelphia on the problems that face the country as well as making everyone aware that he is open to ideas whether from Republicans or Democrats, on how to solve this crisis. Although Obama is making himself readily available to good ideas on how to go about this problem other pressing issues are slowing the process as well as making the issue of how to solve the stock market crash more difficult. For example the recent attacks in Mumbai have now made the situation in Iraq more complicated and have made people question if taking all American troops out of the area is the right thing to do.
On the issue of the stock market Mr. Obama said, “to solve this crisis and to ease the burden on our states we need action, and action swiftly, that means passing an economic recovery plan to help both Wall Street and Main Street, and this administration does not intend to delay in getting you the help that you need.” Action does not to come as a rapid rate as Gov. Arnold Schwarzenegger reiterated when he made a statement on Monday saying that “the state could run out of cash within two months.”
The fall of the stock market is not just causing problems for Wall Street but also for the employees who worked for the big businesses who are now going bankrupt. On Friday the report from the Labor Department regarding the unemployment rate, which is “arguably the most important update on the health of the economy,” is thought to report that businesses will have to shed another 300,000 jobs adding more stress to the country. With these statements it comes as “no surprise, investors were told this week that the United States economy is officially in a recession, according to the nonpartisan National Bureau of Economic Research.”
http://www.nytimes.com/2008/12/03/business/03markets.html?ref=business
http://www.nytimes.com/2008/12/03/us/politics/03transition.html?_r=1&hp
http://www.nytimes.com/2008/12/03/business/03sales.html?ref=business
President-elect Barack Obama spoke to the National Governors Association in Philadelphia on the problems that face the country as well as making everyone aware that he is open to ideas whether from Republicans or Democrats, on how to solve this crisis. Although Obama is making himself readily available to good ideas on how to go about this problem other pressing issues are slowing the process as well as making the issue of how to solve the stock market crash more difficult. For example the recent attacks in Mumbai have now made the situation in Iraq more complicated and have made people question if taking all American troops out of the area is the right thing to do.
On the issue of the stock market Mr. Obama said, “to solve this crisis and to ease the burden on our states we need action, and action swiftly, that means passing an economic recovery plan to help both Wall Street and Main Street, and this administration does not intend to delay in getting you the help that you need.” Action does not to come as a rapid rate as Gov. Arnold Schwarzenegger reiterated when he made a statement on Monday saying that “the state could run out of cash within two months.”
The fall of the stock market is not just causing problems for Wall Street but also for the employees who worked for the big businesses who are now going bankrupt. On Friday the report from the Labor Department regarding the unemployment rate, which is “arguably the most important update on the health of the economy,” is thought to report that businesses will have to shed another 300,000 jobs adding more stress to the country. With these statements it comes as “no surprise, investors were told this week that the United States economy is officially in a recession, according to the nonpartisan National Bureau of Economic Research.”
http://www.nytimes.com/2008/12/03/business/03markets.html?ref=business
http://www.nytimes.com/2008/12/03/us/politics/03transition.html?_r=1&hp
http://www.nytimes.com/2008/12/03/business/03sales.html?ref=business
Tuesday, November 11, 2008
Another crisis for the economy?
With the possibility of General Motors going bankrupt does this mean that the economy will further lessen? General Motors is one of the leading motor vehicle businesses in the United States with Ford Motors and Toyota not far behind, but with GM going bankrupt the possibility of these other big businesses falling is a thought that no one wants to think about. With the housing market already in a state of crisis it would be devastating to the economy for the motor business to go under the water as well maybe even causing more of a problem in the economy than people believe.
General Motors filing for bankruptcy would cause many problems not just for the United States economy but also for the economies of other countries, "if any of the "Big Three" went bankrupt, many suppliers would also fail; because car companies share suppliers, all U.S.-based manufacturers would suffer part shortages. American production would virtually stop until new supplier arrangements emerged." Apart from this problem there is also the issue of the unemployment rates that will be in direct effect to the bankruptcy of General Motors leaving an estimated 2.5 million people unemployed.
Although General Motors is suspected to have to file for bankruptcy Chairman and Chief Executive G. Richard Wagoner Jr. has made it clear to his employees that he has no intention of filing for Chapter 11 for bankruptcy saying that it would be, "contrary to the interests of our employees, stock and bondholders, dealers, and our suppliers and customers." But the protests of Chairman Wagoner might have come to soon, with investors starting to come to terms with the fact that General Motors is becoming more and more in debt and may not be able to get themselves out of it. Although, General Motors does in theory have enough money to get themselves out of this situation, GM has $34 billion dollars, the company might not have the man power to release them of this problem. Without investors support and the support of their customers it is going to be a difficult fight to get out of the debt that General Motors has created for themselves.
http://www.realclearpolitics.com/articles/2008/11/how_to_bail_out_general_motors.html
http://www.businessweek.com/magazine/content/05_50/b3963114.htm
General Motors filing for bankruptcy would cause many problems not just for the United States economy but also for the economies of other countries, "if any of the "Big Three" went bankrupt, many suppliers would also fail; because car companies share suppliers, all U.S.-based manufacturers would suffer part shortages. American production would virtually stop until new supplier arrangements emerged." Apart from this problem there is also the issue of the unemployment rates that will be in direct effect to the bankruptcy of General Motors leaving an estimated 2.5 million people unemployed.
Although General Motors is suspected to have to file for bankruptcy Chairman and Chief Executive G. Richard Wagoner Jr. has made it clear to his employees that he has no intention of filing for Chapter 11 for bankruptcy saying that it would be, "contrary to the interests of our employees, stock and bondholders, dealers, and our suppliers and customers." But the protests of Chairman Wagoner might have come to soon, with investors starting to come to terms with the fact that General Motors is becoming more and more in debt and may not be able to get themselves out of it. Although, General Motors does in theory have enough money to get themselves out of this situation, GM has $34 billion dollars, the company might not have the man power to release them of this problem. Without investors support and the support of their customers it is going to be a difficult fight to get out of the debt that General Motors has created for themselves.
http://www.realclearpolitics.com/articles/2008/11/how_to_bail_out_general_motors.html
http://www.businessweek.com/magazine/content/05_50/b3963114.htm
Tuesday, November 4, 2008
And the votes are almost in...
With the election drawing to a close Senator Barrack Obama and John McCain have one more chance to win over the American people, the question is who will be the most successful? he 22 months that the candidates have spent traveling the United States in hopes to become the next president has definitely taken a toll on both men. The once gleaming Barrack Obama now looks tired and weathered from the stress and has even sprouted a few new grey hairs, but as Mr. Lippert said, "In a marathon, when you are on mile 20 you start getting tired, but when you are on mile 25 you don't, that's where he's at."
But with all the stress that Obama has on his shoulders he is not letting it show to the public. He is still calm and collected while speaking at rallies and conventions, still has his winning charisma and is still fighting for his seat in the White House. Although the Senator has not given a formal interview in weeks he reassures journalists by reporting that he will give them an interview on Wednesday following the election. Of course there are many frustrations that come with constantly traveling and having to be away from ones family for long periods of time but the Senator has proven that he is in it to win it and that he will do whatever it takes to beat McCain.
Like Obama, McCain is also trying to fight till the very end to win presidency unfortunately he and his team are increasingly more worried about the Senator lagging behind in the polls as well as the chance that the House and Senate could soon be taken over by Democrats. With many open Republican seats it is only normal that Democrats would be fighting to replace them and they might actually win them. With all of the problems that the people have seen during the Bush Administrations years in office, the people are now ready for change, and the democrats are offering it in strides.
http://www.nytimes.com/2008/11/03/us/politics/03cong.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
http://www.nytimes.com/2008/11/03/us/politics/03obama.html?pagewanted=2&partner=rssnyt&emc=rss
http://www.nytimes.com/2008/11/03/us/politics/03mccain.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
But with all the stress that Obama has on his shoulders he is not letting it show to the public. He is still calm and collected while speaking at rallies and conventions, still has his winning charisma and is still fighting for his seat in the White House. Although the Senator has not given a formal interview in weeks he reassures journalists by reporting that he will give them an interview on Wednesday following the election. Of course there are many frustrations that come with constantly traveling and having to be away from ones family for long periods of time but the Senator has proven that he is in it to win it and that he will do whatever it takes to beat McCain.
Like Obama, McCain is also trying to fight till the very end to win presidency unfortunately he and his team are increasingly more worried about the Senator lagging behind in the polls as well as the chance that the House and Senate could soon be taken over by Democrats. With many open Republican seats it is only normal that Democrats would be fighting to replace them and they might actually win them. With all of the problems that the people have seen during the Bush Administrations years in office, the people are now ready for change, and the democrats are offering it in strides.
http://www.nytimes.com/2008/11/03/us/politics/03cong.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
http://www.nytimes.com/2008/11/03/us/politics/03obama.html?pagewanted=2&partner=rssnyt&emc=rss
http://www.nytimes.com/2008/11/03/us/politics/03mccain.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
Wednesday, October 22, 2008
And the winner is?
Election day is right around the corner and although it might seem as though Senator Obama has the upper hand, Senator McCain is rallying support from crucial swing states such as North Carolina and Pennsylvania. The election is still days away but a significant number of people have already cast their ballots in Iowa, North Carolina, New Mexico and Ohio according to data analyzed by the New York Times and has shown that a far larger amount of Democrats then Republicans have been hitting the polls. This information does not reveal who will ultimately win the election with just one-third of voters expected to hit the polls before election day but it does give the indication that people are ready for change.
The results from the 2004 elections of early voting are suprisingly different from this year's. In the past, early voting has traditionally favored Republicans; Bush won Flordia, Colorado, and Nevada in early voting in 2004, but because of younger voters as well as African Africans and Hispanics, the Democratic Party is pulling in the early votes. The dates from early voting differ in every state, therefore, it cannot be determined just how much of an impact early voting will have on the election. The surge of early voters favoring the Democratic Party already shows people embracing a new beginning.
Even though early voting is not a decisive look into who will be the next President of the United States it is a start. Andrew Kohut, president of the Pew center said, "If one candidate has the momentum at an early stage before Election Day, it's going to favor that candidate," he went on to say, "If there's a last minute surge because of some event to the trailing candidate, well, the train has left for an awful lot of people these days."
With data showing an increase in early voting in recent election years, "In 2004, 22 percent of voters cast an early presidential ballot; in 2000, 16 percent voted early; 2008 24 percent expected to vote before Election Day," the Republican Party seems quite calm with the fact the data shows more voters are casting their ballots for Senator Obama. Caleb Hunter, executive director of the Iowa Republican Party said, "A bit of it is culture, our voters like to go to the polls on Election Day. Thats part of their citizenship, filling out the registration, standing in the line, so we focus a lot of our efforts and time and energy on that program."
But it seems that the Republican Party is not as calm as they wish to look. In recent Pennsylvania polls Senator Obama has a double-digit lead, which does not seem out of the ordinary since Pennsylvania has always been a Blue State but Senator McCain has now made three stops to the state on Tuesday, making it his mission to turn voters in his favor. On his first visit to the state, McCain shouted, "We need to win Pennsylvania on Nov. 4, and with your help-with your help-we're going to win!" Even though the state has voted Democratic for the past three years, Republican strategists believe that Senator McCain is appealing to the state's "pro-gun working class voters in the western coal country and to independents and moderates in the swing counties around Philadelphia."
This may be the reason why Philadelphia is "now one of the only major cities in the country where Mr. McCain's advertising campaign is anywhere near as voluminous as that of Mr. Obama's." Senator McCain has reduced his advertising campaigns in states such as Colorado, Maine, Minnesota, New Hampshire and Wisconsin.
Senator Obama also has reason to be concerned about his stance in the election due to rising concerns about what each of the candidates will do on the issues of Iran building nuclear weapons, the crash in the stock market and post-Iraq. Each of the candidates have portrayed themsleves in a certain light on how they would ideally handle these situations, for example McCain's "campaign portrays him as an experienced warrior who knows how to win wars," while Obama's campaign portrays him as "a cerebral advocate of patient diplomacy, the antidote to the unilateral excesses of the Bush years, who knows howt o build partnerships without surrendering American interests."
But these portrayls will ultimately change through the course of the next four years whomever the candidate may be. These issues that will affect the country are problems that both candidates have been preparing for throughout these long moths of campaigning but the country is nervous and skeptical about which of the candidates will solve the problems that the Bush Administration has created.
http://www.nytimes.com/2008/10/23/us/politics/23policy.html?ref=politics
http://www.nytimes.com/2008/10/22/us/politics/22pennsylvania.html?ref=politics
http://www.nytimes.com/2008/10/22/us/politics/22early.html?_r=1&ref=politics&oref=slogin
The results from the 2004 elections of early voting are suprisingly different from this year's. In the past, early voting has traditionally favored Republicans; Bush won Flordia, Colorado, and Nevada in early voting in 2004, but because of younger voters as well as African Africans and Hispanics, the Democratic Party is pulling in the early votes. The dates from early voting differ in every state, therefore, it cannot be determined just how much of an impact early voting will have on the election. The surge of early voters favoring the Democratic Party already shows people embracing a new beginning.
Even though early voting is not a decisive look into who will be the next President of the United States it is a start. Andrew Kohut, president of the Pew center said, "If one candidate has the momentum at an early stage before Election Day, it's going to favor that candidate," he went on to say, "If there's a last minute surge because of some event to the trailing candidate, well, the train has left for an awful lot of people these days."
With data showing an increase in early voting in recent election years, "In 2004, 22 percent of voters cast an early presidential ballot; in 2000, 16 percent voted early; 2008 24 percent expected to vote before Election Day," the Republican Party seems quite calm with the fact the data shows more voters are casting their ballots for Senator Obama. Caleb Hunter, executive director of the Iowa Republican Party said, "A bit of it is culture, our voters like to go to the polls on Election Day. Thats part of their citizenship, filling out the registration, standing in the line, so we focus a lot of our efforts and time and energy on that program."
But it seems that the Republican Party is not as calm as they wish to look. In recent Pennsylvania polls Senator Obama has a double-digit lead, which does not seem out of the ordinary since Pennsylvania has always been a Blue State but Senator McCain has now made three stops to the state on Tuesday, making it his mission to turn voters in his favor. On his first visit to the state, McCain shouted, "We need to win Pennsylvania on Nov. 4, and with your help-with your help-we're going to win!" Even though the state has voted Democratic for the past three years, Republican strategists believe that Senator McCain is appealing to the state's "pro-gun working class voters in the western coal country and to independents and moderates in the swing counties around Philadelphia."
This may be the reason why Philadelphia is "now one of the only major cities in the country where Mr. McCain's advertising campaign is anywhere near as voluminous as that of Mr. Obama's." Senator McCain has reduced his advertising campaigns in states such as Colorado, Maine, Minnesota, New Hampshire and Wisconsin.
Senator Obama also has reason to be concerned about his stance in the election due to rising concerns about what each of the candidates will do on the issues of Iran building nuclear weapons, the crash in the stock market and post-Iraq. Each of the candidates have portrayed themsleves in a certain light on how they would ideally handle these situations, for example McCain's "campaign portrays him as an experienced warrior who knows how to win wars," while Obama's campaign portrays him as "a cerebral advocate of patient diplomacy, the antidote to the unilateral excesses of the Bush years, who knows howt o build partnerships without surrendering American interests."
But these portrayls will ultimately change through the course of the next four years whomever the candidate may be. These issues that will affect the country are problems that both candidates have been preparing for throughout these long moths of campaigning but the country is nervous and skeptical about which of the candidates will solve the problems that the Bush Administration has created.
http://www.nytimes.com/2008/10/23/us/politics/23policy.html?ref=politics
http://www.nytimes.com/2008/10/22/us/politics/22pennsylvania.html?ref=politics
http://www.nytimes.com/2008/10/22/us/politics/22early.html?_r=1&ref=politics&oref=slogin
Wednesday, October 1, 2008
Crisis diverged; back to politics
With the Senate strongly backing the $700 billion economic bail out plan on Wednesday people are very hopeful for the House accepting the bill by Friday, that would "end the legislative uncertainty that has rocked the markets." Both candidates, with a little push from the two senate leaders, strongly supported the bill even though it was not popular with Americans.
Senator Harry Reid, Democrat of Nevada said, "supporting this legislation is the only way to make the best of a crisis and return out country to a path of economic stability, prosperity and growth. Although both candidates, Senator John McCain and Senator Obama did vote for the bill their was a clear sense of apprehension between both parties. Senator McCain did not comment on the legislation but Senator Obama did remark on the issue saying, "While that decline was devastating, the consequences of the credit crisis that caused it will be even worse if we do not act now."
In addition to the corrections that were made to the bill one of the more admirable and popular was a temporary increase in the amount of bank deposits covered by the Federal Deposit Insurance Corporation. It required insurers to treat mental health conditions as those of general health problems, this change was very supported throughout both parties.
As the senators gathered to vote on the economic bailout plan the two presidential candidates had a brief and uncomfortable encounter sparking rumors that there are ill feelings among the two candidates. As Senator Obama made his way to shake Senator McCain's hand, it was obvious that the tensions between the candidates were high, especially on the Republican side. Senator Obama made the effort to be courteous towards McCain but was greeted very nonchalantly by Senator McCain.
During this time both parties need to address one another in a respectful way to show no arrogance or ill feelings towards one another. The country is in turmoil and although the bail out plan seems to be a step forward there are still tough times ahead and the American people need to trust in these two presidential candidates to make smart and good decisions for the American people, showing ill feelings will only drive the country farther apart.
http://www.nytimes.com/2008/10/02/business/02bailout.html?hp
http://thecaucus.blogs.nytimes.com/2008/10/01/not-so-secret-handshake/
http://www.nytimes.com/2008/10/02/business/02crisis.html?hp
Senator Harry Reid, Democrat of Nevada said, "supporting this legislation is the only way to make the best of a crisis and return out country to a path of economic stability, prosperity and growth. Although both candidates, Senator John McCain and Senator Obama did vote for the bill their was a clear sense of apprehension between both parties. Senator McCain did not comment on the legislation but Senator Obama did remark on the issue saying, "While that decline was devastating, the consequences of the credit crisis that caused it will be even worse if we do not act now."
In addition to the corrections that were made to the bill one of the more admirable and popular was a temporary increase in the amount of bank deposits covered by the Federal Deposit Insurance Corporation. It required insurers to treat mental health conditions as those of general health problems, this change was very supported throughout both parties.
As the senators gathered to vote on the economic bailout plan the two presidential candidates had a brief and uncomfortable encounter sparking rumors that there are ill feelings among the two candidates. As Senator Obama made his way to shake Senator McCain's hand, it was obvious that the tensions between the candidates were high, especially on the Republican side. Senator Obama made the effort to be courteous towards McCain but was greeted very nonchalantly by Senator McCain.
During this time both parties need to address one another in a respectful way to show no arrogance or ill feelings towards one another. The country is in turmoil and although the bail out plan seems to be a step forward there are still tough times ahead and the American people need to trust in these two presidential candidates to make smart and good decisions for the American people, showing ill feelings will only drive the country farther apart.
http://www.nytimes.com/2008/10/02/business/02bailout.html?hp
http://thecaucus.blogs.nytimes.com/2008/10/01/not-so-secret-handshake/
http://www.nytimes.com/2008/10/02/business/02crisis.html?hp
Subscribe to:
Posts (Atom)
