The financial crisis we are now experiencing began quite a while ago. Understanding, as long as two years ago, that a crisis was brewing, Senator Obama introduced legislation to crack down on the abuses that he was witnessing in the financial industry. At this time Senator McCain was only interested in loosening the rules governing the financial industry. Mr. McCain has said frequently that he does not like regulation.
In the 1930Â’s in the midst of the great depression and following many bank failures, our Congress put regulations in place to prevent a financial meltdown from happening in the future. In 1999 our Congress was in Republican hands. In 1999, Senator Phil Gramm, until recently a Co-Chair of John McCainÂ’s presidential campaign and his most senior economic advisor, spearheaded a bill to loosen these regulations which had protected us for over sixty years. His success in doing this is believed by economists to be directly related to the present chaos. Mr. McCain and many in the Republican Party would also like to privatize your Social Security. Will you sleep well at night if your Social Security is invested in the stock market?
Unemployment is rising, savings are disappearing, bankruptcies are increasing, and the Republican Party has been in charge of Congress for over twenty years. A vote for John McCain is a vote for more of the same.
Senator Obama is working hard to protect the interests of the middle class, as he has done his entire career. I am voting for Obama and I hope you will too.
Lewes, Delaware 19958