John gutfreund
Posted by dyingoflegacy on September 15th, 2008
If McCain and Obama Can’t Tap Into the Economy Message Today, They’ll Never Do It
we'd rate their responses as “subprime.”photo: getty images
This weekend’s disastrous financial news was a great opportunity for at least two people: John McCain and Barack Obama. During an election year when the economy is consistently rated by voters as one of their greatest concerns, neither candidate has been able to effectively master the issue. Both McCain and Obama have failed to connect with voters on an effective economic message. So today, when everyone is talking about the fate of several legendary Wall Street institutions, what did the presidential hopefuls have to say? Well, nothing, actually. Here’s the only segment from McCain’s official statement on his Website that isn’t a lame platitude or explanation of what we already know:
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i am glad to date that the federal limit and the treasury department bear said no to using taxpayer money to bailout lehman brothers, a thesis i have spoken about throughout this campaign. we are carefully monitoring the pecuniary markets, including the duress at lehman brothers that is the latest reminder of ineffective regulation and management. efforts must also be focused on ensuring that the deposits of hardworking americans are protected.
Obama vaguely jumped at the opportunity to tie McCain to the current administration’s economic bungles.
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John Gutfreund Wikipedia, the free encyclopedia - Cite This Source John H. Gutfreund is the former CEO of Salomon Brothers Inc, an investment bank that gained notoriety in the …
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i certainly don’t fault senator mccain owing these problems, but i do fault the pecuniary philosophy he subscribes to. it’s a philosophy we’ve had for the last eight years — undivided that says we should give more and more to those with the most and look forward to that prosperity trickles down to Dick else. it’s a philosophy that says even ordinary-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises. ooze now, instead of prosperity trickling down, the smarting has trickled up — from the struggles of hardworking americans on main street to the largest firms of wall street.
The Fed’s refusal to bail out Lehman Brothers should be a great opportunity for McCain to talk about how he’s been right on this all along, and Obama has a good thing going with the “pain trickling up” message. With their differing stances on regulation, they at least have something real to argue about here. (For Obama in particular, this is an opportunity to shift the story away from Palin tailspin.) But both need to do a lot better on this today if they are ever going to effectively communicate with voters on the economy. They need to show that they understand what happened (even if they don’t) and what needs to happen next. So far, they haven’t, and it’s not clear that they will.
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Financier. Gutfreund is the former Wall Street titan who served as CEO of Salomon Brothers in the 1980s. … GUTFREUND GOTCHA (New York Post) Posted: 1:50AM on Aug 15, 2008 It …
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Key Phrase page for John Gutfreund: Books containing the phrase John Gutfreund … Excerpt - on Page 13: " … j T WAS sometime early in 1986, the first year of the decline of my …
Statement from Senator Obama on the Situation in Financial Markets [BarackObama.com] Statement By John McCain On The Financial Markets [JohnMcCain.com] Earlier: Holy Effing Crap: Wall Street in Flames
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