+- MacResource (https://forums.macresource.com)
+-- Forum: My Category (https://forums.macresource.com/forumdisplay.php?fid=1)
+--- Forum: 'Friendly' Political Ranting (https://forums.macresource.com/forumdisplay.php?fid=6)
+--- Thread: McCain Predicted the Fannie/Freddie failure in 2006 (/showthread.php?tid=62361)
McCain Predicted the Fannie/Freddie failure in 2006 - swampy - 09-17-2008
Franklin Raines, economic advisor to Obama, former CEO of Fannie (a Clinton appointee) along with Jim Johnson, another Obama advisor and former head of Fannie were deep into cooking the books while raking millions of dollars for meeting Fannie's lending goals.
It was found by the Federal Housing Enterprise that employees were deliberately manipulating the books that you and future generations will be paying for because of the government take over of subprime problems at Freddie and Fannie.
McCain warned the senate of this in May of 2006. Here's a link to his statement that was entered into the Congressional Record.
http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16
So let's follow the money. Who on the hill was making money from PACs and Freddie and Fannie? This might help you decide http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
The list covers a ten year period and even though Obama had only been in office for 2 years he's #2 on the list following Dodd. You have to scroll way down the list before you see McCain's name and he took NO money from the PACs, although he did receive $21,000 from individuals.
The Dems are deep in this and it is no wonder to me that when McCain now calls for a Commission to investigate the corruption, the Dems are looking to cover their own asses and will deny the American people the right to know who was stealing their money.
Re: McCain Predicted the Fannie/Freddie failure in 2006 - Gutenberg - 09-17-2008
And yet, with all that wonderful information and foresight, he did nothing--the same inaction he took during the Lincoln Savings & Loan meltdown.
Do we really want to vote for someone who sees catastrophe coming and decides to do nothing?
Re: McCain Predicted the Fannie/Freddie failure in 2006 - Lux Interior - 09-17-2008
Thank God we have McCain on our side! He has been fighting his entire career to make sure the industry is regulated so that these things don't happen!
Right?
Re: McCain Predicted the Fannie/Freddie failure in 2006 - guitarist - 09-17-2008
A better question might be:
"Do we really want to vote for someone who sees catastrophe coming but because they are benefiting financially chooses to ignore warnings about it?
Re: McCain Predicted the Fannie/Freddie failure in 2006 - MacMagus - 09-17-2008
And then there's McCain...
Phil Gramm, his campaign co-chair is on the payroll of Swiss bank lobbyists. The same guy who created the Enron crisis in California by pushing a fatally flawed deregulation bill through Congress. The same guy who engineered the current banking crisis by pushing deregulation bills for the banking and investment banking industries in the late 1990's. The same guy who lobbied against mortgage-banking reform over the last 2 years.
The McCain campaign employs at least 177 lobbyists, 83 of whom have been tied to the banking industry.
http://rawstory.com/news/2008/McCain_team_includes_83_Wall_Street_0917.html
"Among these 83 lobbyists are McCain's chief political adviser, Charlie Black (JP Morgan, Washington Mutual Bank, Freddie Mac, Mortgage Bankers Association of America); McCain's national finance co-chairman, Wayne Berman (AIG, Blackstone, Credit Suisse, Fannie Mae, Freddie Mac); the campaign's congressional liaison, John Green (Carlyle Group, Citigroup, Icahn Associates, Fannie Mae); McCain's veep vetter, Arthur Culvahouse (Fannie Mae); and McCain's transition planning chief, William Timmons Sr. (Citigroup, Freddie Mac, Vanguard Group)."
Neither one of them has clean hands. McCain's are stained a bit more deeply.
Re: McCain Predicted the Fannie/Freddie failure in 2006 - guitarist - 09-17-2008
Let the finger-pointing begin! That'll fix it!
Re: McCain Predicted the Fannie/Freddie failure in 2006 - swampy - 09-17-2008
Gutenberg wrote:
And yet, with all that wonderful information and foresight, he did nothing--the same inaction he took during the Lincoln Savings & Loan meltdown.
Do we really want to vote for someone who sees catastrophe coming and decides to do nothing?
So what was HE supposed to do? He can't pass a bill by himself. So typical, Gutenberg... shoot the messenger. La, la, la.. my ears are closed. Talk to my hand. Too many on the hill including Obama were busy taking in the cashola. They didn't want to kill the golden goose.
At least McCain was smart enough to see the graft and corruption and point it out to us. That the crooks in Congress let his bill die, is indicative of the "CHANGE" that needs to take place inside the beltway.
Re: McCain Predicted the Fannie/Freddie failure in 2006 - Black Landlord - 09-17-2008
So Swampy, McCain stands for increased government regulation?
Swampy?
Hello?
Re: McCain Predicted the Fannie/Freddie failure in 2006 - Lux Interior - 09-17-2008
swampy wrote:
So what was HE supposed to do? He can't pass a bill by himself.
Damn! If only there had been a Republican majority in the house and senate that could get almost anything signed by the Republican president for 6 of the last 8 years!
Oh wait, there was! I guess they were too busy worrying about Terri Schiavo & gay marriage.
Well at least Terri is still alive and gay marriage is now illegal in all 50 states!
Re: McCain Predicted the Fannie/Freddie failure in 2006 - MacMagus - 09-17-2008
> At least McCain was smart enough to see the graft and corruption and point it out to us.
He pointed out corruption after he got caught taking payoffs and he pointed out the corruption to keep himself out of jail, but he surely did point out corruption.
...And then he ran for president as a reformer.
Talk about having your cake and eating it too!!