Just heard Obama speak on the floor of the Senate to urge lawmakers to do something to save Main Street…

Although he quoted Roosevelt, it was his own words that we should remember….

But while there’s plenty of blame to go around — and many in Washington and Wall Street who deserve it — all of us — all of us have a responsibility to solve this crisis, because it affects the financial well-being of every single American.

There will be time to punish those who set this fire, but now is not the time to argue about how it got set, or did the neighbor sleep in his bed, or leave the stove on. Right now we want to put out that fire, and now’s the time for us to come together and do that.

When the House of Representatives failed to act on Monday, we saw the single largest decline in the stock market in two decades.

Over $1 trillion of wealth was lost by the time the markets closed. And it wasn’t just the wealth of a few CEOs or Wall Street executives.

The 401(k)s and retirement accounts of millions became smaller. The state pension funds of teachers and government employees lost billions upon billions of dollars. Hard-working Americans who invested their nest egg to watch it grow saw it diminish and in some cases disappear.

Gee, those last words sound vaguely familiar….

Obama then used his “bully pulpit” to get the critical message out to Americans highly concerned over giving one man unlimited power…(“Hello, This is Mr. Paulsen…. I’d like to open a new Swiss Bank account…. Could you take an initial deposit of say… $250 billion dollars?”)

And, finally, I said that, if American taxpayers are financing this solution, then they have to be treated like investors. They should get every penny of their tax dollars back once the economy recovers.

Now, this last part is important, because it’s been the most misunderstood and poorly communicated part of this plan. This is not a plan to just hand over $700 billion of taxpayer money to a few banks.

If this is managed correctly — and that’s an important “if” — we will hopefully get most or all of our money back and possibly even turn a profit on the government’s intervention, every penny of which will go directly back to the American people.

He finished with saying..

We’re all going to need to pull our weight, because now, more than ever, we are all in this together.

Now, that’s part of what this crisis has taught us, that, in the end of the day, there’s no real separation between Wall Street and Main Street. There’s only the road we’re traveling on as Americans.

And we will rise or fall on that journey as one nation and as one people.

I know that many Americans are feeling anxiety right now about their jobs, about their homes, about their life savings. But I also know this, that we can steer ourselves out of this crisis. We always have.


Let us unite in banishing fear. Together we cannot fail. We cannot fail, not now, not tomorrow, not next year. This is a nation that’s faced down war and depression, great challenges and great threats.

And at each and every moment, we have risen to meet up these challenges, not as Democrats, not as Republicans, but as Americans, with resolve and with confidence, with that fundamental belief that, here in America, our destiny is not written for us, it’s written by us.

And that’s who we are. And that’s the country I know we can be right now.

If you were looking for a leader, you found one.