Tuesday, September 16, 2008

Flip Flop... and we're not talking about his sandals (Updated)

The fundamentals of our economy are strong...

Senator John McCain
candidate for President of the United States
15 September, 2008

So much of the loss and damage to our economy could have been avoided if these practices had been exposed to the light of day. People have a right to know when their jobs, pensions, investments and our whole economy are being put at risk by the recklessness of Wall Street.

Senator John McCain
candidate for President of the United States
16 September, 2008

My own belief is if we were going to have some kind of big crash or recession, we probably would have had it by now, a year into the crisis.

Stephen Harper
Leader of the Conservative Party of Canada
15 September, 2008

And what posting of this nature would be complete with out this famous quote:

The fundamental business of the country, that is production and distribution of commodities, is on a sound and prosperous basis.
Herbert Hoover
President of the United States
30 October, 1929
(The day after the stock market crash which brought about the Great Depression)

The six month share price graph of American International Group (AIG), the largest insurance company in the US and a global insurer of mammoth proportions. At market time of 4 pm EDT AIG had seen a volume of over 1,165,000 shares change hands and a share price drop from a high of $70.13 to $4.00 today. This is a good take on what could happen everywhere, if AIG fails.

Wrong again, Harper. Just like McCain. (And Hoover)

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