Lou Dobbs Tonight -- CNN -- September 30
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| "Now I'm opening out like the largest telescope that ever was! Good-bye, feet!" And how odd the directions will look! |
Dobbs: Can I ask you both something? The head of the Congressional Budget Office said this idiotic bailout of Wall Street was likely, was likely to cause a deeper crisis than the one that we're currently going through. Why isn't anybody paying attention to this in either the White House, the Democratic leadership or the campaign trail? Both Obama and McCain act like they have no knowledge of what the heck is going on here.
U. S. Rep. Marcy Kaptur
: They haven't really identified the basis of the problem. Our banking system is fundamentally sound. This is a credit crunch and a housing foreclosure challenge. They haven't identified the root cause. We can deal with the credit crunch through changes in accounting standards. The Securities and Exchange Commission today, as a result of the work that we've been doing so much over the last week and a half, to try to get them to look at those accounting standards is the reason that our local banks are short on credit to re-evaluate those standards and then to deal with the home foreclosure crisis in a way that it matters on Main Street, locks in on Main Street.
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