Barack Obama commented on the upheaval on Wall Street today saying it is ”the most serious financial crisis since the Great Depression.”  He also links it to Bush.

“This country can’t afford another four years of this failed philosophy,” Obama said after the shock-wave announcements that financial giant Lehman Brothers was filing for Chapter 11 bankruptcy while titan Merrill Lynch was being bought by Bank of America for about $50 billion.

“The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren’t minding the store,” Obama said in a statement. “Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression.”

“I certainly don’t fault Sen. McCain for these problems, but I do fault the economic philosophy he subscribes to.”

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