financial crash

The financial services industry is tanking. Here's what McCain and Obama won't tell you about the crisis.

When John McCain said last week that the "fundamentals of our economy are still strong," he was wrong twice. First, he was wrong to suggest that the annihilation of modern investment banking was something peripheral to economy. Second, when he claimed that "fundamentals" referred to the robust American workforce, he was wrong again to suggest that average Americans somehow represent a fortress of strength against the onslaught of the credit crisis. On the contrary, we've met the enemy, and the enemy is in our own purses and pockets.