FROM BARACK OBAMA'S WEBSITE AND NEWSLETTER:
Barack spoke to residents of Dayton, Ohio this morning as he kicked off his American Jobs Tour in Ohio. Families in Ohio, like everywhere across the country, are struggling in the economic crisis and Barack discussed what he will do to help and what kind of leadership he will provide.
In recent weeks, we’ve seen a growing financial crisis that’s threatening not only banks and businesses, but your economic security, as well. It’s getting harder and harder to get a loan for that new car or that startup-business or that college you’ve dreamed of attending. And if you’ve invested your life savings in the stock market, you’ve probably watched a good chunk of it disappear.
It’s a crisis that’s been years in the making – the result of greed and irresponsibility that stretched from Wall Street to Washington. And the truth is, it will take more than a few days to repair the damage.
...The next President will have to manage this recovery. The question is, will that President be looking out for you?
...We have to act to fix our broken economy and restore the credit markets. But taxpayers shouldn’t be asked to pick up the tab for the very folks who helped create this crisis.
...We need steady leadership in the White House. We need a President we can trust in times of crisis. And that’s the kind of President I intend to be.
Make no mistake: we must do more to help innocent homebuyers. I’ve worked on a series of proposals over the past two years to do that. And I support the Treasury’s efforts to buy up troubled mortgages. But we need to do it in a responsible way. That means making sure that we’re not overpaying for these mortgages and rewarding the very lenders whose recklessness helped cause this crisis. It means giving taxpayers a share of the benefit when our housing market recovers. And it means doing what I proposed more than two years ago and cracking down on predatory lenders by treating mortgage fraud like the crime that it is.
...It is time to turn the page on eight years of economic policies that put Wall Street before Main Street but ended up hurting both. We need policies that grow our economy from the bottom-up, so that every American, everywhere has the chance to get ahead. Not just corporate CEOs, but their secretaries too. Not just the person who owns the factory, but the men and women who work on its floor. Because if we’ve learned anything from this economic crisis, it’s that we’re all connected; we’re all in this together; and we will rise or fall as one nation – as one people.
Read Barack's full remarks, as prepared for delivery...