Tuesday, September 30, 2008

Barack Obama's speech in Reno, NV

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This is no longer just a Wall Street crisis – it’s an American crisis, and it’s the American economy that needs this rescue plan. I understand why people would be skeptical when this President asks for a blank check to solve a problem. I’ve spent most of my time in Washington being skeptical of this Administration, and this time was no different. That’s why over a week ago, I demanded that this plan include specific proposals to protect American taxpayer – protections that the Administration eventually agreed to, as well as Democrats and Republicans in Congress.

First, I said we needed an independent board to provide oversight and accountability for how and where this money is spent at every step of the way.

Second, I said that we cannot help banks on Wall Street without helping the millions of innocent homeowners who are struggling to stay in their homes. They deserve a plan too.

Third, I said that I would not allow this plan to become a welfare program for the Wall Street executives whose greed and irresponsibility got us into this mess.

And finally, I said that if American taxpayers are financing this solution, then you should be treated like investors – you should get every penny of your tax dollars back once this economy recovers.
You can read the full speech here.

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"What this crisis has taught us is that at the end of the day, there is no real separation between Main Street and Wall Street. There is only the road we’re traveling on as Americans – and we will rise or fall on that journey as one nation; as one people. "

That line took courage.

A remarkable speech in a difficult and challenging time.
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Kim, Arizona's avatar

Kim, Arizona · 858 weeks ago

Obama!! You are my President! Thank you for this thorough message and response to this credit mess!
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I went to the speech today at UNR and have to say that Barack is one of the best public speakers I have seen to date. His plan of action is great and I hope that the rest of America is smart enough to see that. Obama '08
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