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i listened to the palin/mccain town hall speach today and i was a bit pissed to hear her..and then him say..he was the only one to say 2 years ago that there was an issue with fannie may and freddie mac...were they lying..not telling the truth or just didnt know the whole truth?
....and, as everyone knows, it was HIM, who started the internet!!!!!! (dammit)
no dave...al gore started the internet...mccain invented the BLACKBERRY...i dont know what these guys are doing in politics when theyre coming up with all these revolutionary inventions!!!!!..lol
i listened to the palin/mccain town hall speach today and i was a bit pissed to hear her..and then him say..he was the only one to say 2 years ago that there was an issue with fannie may and freddie mac...were they lying..not telling the truth or just didnt know the whole truth?
OBAMA WAS AT THE HEAD OF THE LINE WHEN THE PIGGYS LINED UP TO GET CAMPAIGN CONTRIBUTIONS FROM FANNIE,FREDDY,AIG.
With the financial sector in turmoil today, the media and the politicians have started throwing around blame with the same recklessness as lenders threw around credit to create the problem. Politically, the pertinent question is this: Which candidate foresaw the credit crisis and tried to do something about it? As it turns out, John McCain did — and partnered with three other Senate Republicans to reform the government’s involvement in lending three years ago, after an attempt by the Bush administration died in Congress two years earlier. McCain spoke forcefully on May 25, 2006, on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005 (via Beltway Snark):In this speech, McCain managed to predict the entire collapse that has forced the government to eat Fannie Mae and Freddie Mac, along with Bear Stearns and AIG. He hammers the falsification of financial records to benefit executives, including Franklin Raines and Jim Johnson, both of whom have worked as advisers to Barack Obama this year. McCain also noted the power of their lobbying efforts to forestall oversight over their business practices. He finishes with the warning that proved all too prescient over the past few days and weeks.
It never made it out of committee. Chris Dodd, then the ranking member of the Banking Committee and now its chair, was in the middle of receiving preferential loan treatment from Countrywide Mortgage, one of the companies gaming the system in the credit crisis. Meanwhile, Barack Obama took hundreds of thousands of dollars from the lobbyists McCain mentions in this speech, making him the #2 recipient of Fannie/Freddie money:
Open Secrets has the list of Congressmen who have benefited from Fannie Mae/Freddie Mac largesse since 1989 (inclusive). Remarkably, after only serving less than four of those 20 years, Barack Obama has vaulted to the #2 position on Capitol Hill. Only Dodd outstripped him. He took more than six times the amount that McCain received in a 20-year period.
The record shows that McCain saw the problem coming and tried to get Congress to act. In 2005, both McCain and Obama served together in the Senate. Did Obama attempt to pass this reform, sign on as a co-sponsor, or even speak out in its favor? The record is tellingly blank.
What was this bill? The act would have done the following:
(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting.
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they didnt tell the whole truth about him being the only one aware of fannie and freddie..she still is wrong about the amount of oil/energy that alaska supplies but keeps running with the misinformation...
im not taking jabs at him but its not completely honest...
not to mention hes been calling for regulation after he said he was the big deregulator...whats really going on?
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