John McCain’s Fannie Mae/Freddie Mac Warnings – MAY 2006

I hope you haven’t just eaten, because what you are about to read will disturb you–and well it should. It’s proof that John McCain foresaw the Freddie Mac, Fannie Mae disaster in 2006– and tried against all Obama-Like minds to ward it off.

Below are John McCain’s remarks urging the passage of the Federal Housing Enterprise Regulatory Reform Act of 2005, which he co-sponsored and which was rendered “Dead” in Congress.

Guess who prevailed and didn’t take heed? Or more appropriately, guess who deliberately “looked the other way”?

This is all we need to know to understand exactly WHICH candidate in this election is willing to break some eggs when it comes to Fannie Mae and Freddie Mac–two organizations that, with the help of certain Democrats, deliberately redistributed wealth the easy way. Now we are all paying for it, as intended all along. Just as John McCain warned below.

As we view the carnage, this is all we need to know to understand exactly WHICH candidate foresaw this carnage we are witnessing,  and which candidate worked to convince the other candidate to help avoid it. It is all we need to know to recognize exactly WHICH candidate had the right judgment and was looking out for the rest of us.

Joe Biden? It’s time for US to be Patriotic? No. It’s time for YOU to be patriotic. In fact, it’s too late. As for you saying, “It’s time to be part of the deal”. We want no part of this “deal”. And what a “deal” it was!

May 26, 2006

Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.

Quick Info
Last Action: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Status: Dead

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190,to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.

Update: Well looky here. Here’s a glowing Wall Street piece on Obama, written in June 2008. You would think Mr. “Regulator” Obama really is Jesus looking out for us! But…..here’s the paragraph that hooked me–the paragraph that haunts today:

He characterized the senator as a quick study on financial services, citing his early support of efforts by Senate Banking Committee Chairman Chris Dodd and House Financial Services Committee Chairman Barney Frank to empower the Federal Housing Administration to help struggling homeowners.

Oh they “empowered” all right. The Democrats killed this bill while Dodd, Frank and Obama fiddled and helped Fannie and Freddie cook their books, continue to tank, all the while keeping the regulators out of their way. These are the guys who killed the bill that McCain fought for. The bill that would have avoided the financial disaster we witnessed during the past two weeks. In the meantime, take a look at which senators were feeding at the Fannie Mae/Freddie Mac trough. My party is not what it used to be. My party has not only let me down, but it has also screwed me and my country in the process.

I am at this very moment listening to Barack Obama lie to North Carolina, saying that he has been calling for regulation for years and that the Republicans stopped him. He is saying he can fix this crises that he helped create.   This is all too convenient folks. You have seen the proof of who exactly blocked the prevention of this crash.

Barack Obama is truly a demon.

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76 Responses

  1. I feel like the McCain camp is not getting any of these types of messages out on his own.

    Maybe there is an October surprise coming from them and right now they are letting Obama talk and talk about the economy as if he knows something about it.

    We can only hope that McCain has something up with sleeve because once again The Empty Suit is up 6 points. :(

  2. Christ!

  3. Thanks for breaking this out….I’m going to consider a link to it for next week’s roundup…this sort of thing shouldn’t die as the week goes on…

    The roundup this week is full of good stuff we should remember, as well as a good funny from kenosha Marge…and a great pic of a “dog activist’…doing guess what??

    The Past Week: Recaps & Random Thoughts, September 14-20 (Dog Activism; The Palin Wars; More McCain Offices Open; Joe Biden; We Need 30%; Odinga Revisited; A “Comment” on Congress)

    http://insightanalytical.wordpress.com/2008/09/21/the-past-week-recaps-random-thoughts-september-14-20-the-palin-wars-more-mccain-offices-open-joe-biden-we-need-30-odinga-revisited-a-comment-on-congress/

  4. This is great, Uppity!! Thanks for the hot links.

  5. Yup, JMc warned Congress in 2005 about how Freddie and Fannie were frightnening back then.

    Best line by Senator JMc to Congress: “If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

    Did the Democratically controlled Congress pay heed then? Obviously not, and that is why we are footing the bill today.

    Thanks for putting this at the forefront. More folks need to know.

  6. LOL you bad boy. I got the McCain link as a gift. Who can keep up when you’re posting three and four things a day. As it turns out, this story is everywhere, which is VERY good.

    You should stick that video i added to your piece.

  7. Hopefully this will all come out in the debates.

  8. […] http://uppitywoman08.wordpress.com/2008/09/21/john-mccains-fannie-maefreddie-mac-warnings-may-2006/#…. Possibly related posts: (automatically generated)Washington Wire – WSJ.com : Fannie and Freddie Enter the Presidential RaceAfter Bailout, Senators Ask for a Delay in Foreclosures – NYTimes.comFannie and Freddie BackgroundObama on Fannie Mae […]

  9. The Democrat’s rhetoric on taxes and health care is frightening people in the investing classes over what critics call ‘wealth redistribution.’

    http://tiny.cc/7QXF1

    http://tiny.cc/e2X06

    Bottom Line:

    If you want a recession and socialism vote Obama.
    If you want a job and capitalism vote McCain. 
    Only you can prevent socialism in America.

  10. I am listening to this SACK OF CRAP right now saying that we have to act quickly and REGULATE! I hope this bastard gets his ass swiftboated to HELL over this.

  11. He is saying that he was calling for YEARS for regulation. He BLOCKED that bill.

  12. Bush called for the same thing years before. . .and got nothing in return from a Republican controlled Congress. Paulson was begging for reform a year ago without success.

    They (Congress) are collectively gutless with only a few exceptions. And no, I don’t count McCain (who I will reluctantly vote for) an exception. He’s been there too long for his short list of actual accomplishments. “Just words” doesn’t just apply to Obama.

  13. And just a brief message about Fabricated Racism:

    Media Caught Fabricating Racism Story

    http://tiny.cc/kuWFT

  14. cat for some reason that last site ate all my resourced and crashed me so badly i couldn’t even reboot. I had to turn off my machine to recover.

  15. I don’t think they were ‘gutless’ in this case. I think it was a deliberate “redistribution’ action.

  16. Crashed your pc??? I just tried it and it loaded fast and nice. Get a Mac :-)

  17. […] John McCain’s Fannie Mae/Freddie Mac Warnings – MAY 2006 “…Oh they “empowered” all right. The Democrats killed this bill while Dodd, Frank and Obama fiddled and helped Fannie and Freddie cook their books, continue to tank, all the while keeping the regulators out of their way. These are the guys who killed the bill that McCain fought for. The bill that would have avoided the financial disaster we witnessed during the past two weeks. In the meantime, take a look at which senators were feeding at the Fannie Mae/Freddie Mac trough. My party is not what it used to be. My party has not only let me down, but it has also screwed me and my country in the process…” […]

  18. BO’s trying to backstroke on this the way he did about the surge. Good luck. I can’t wait to see McCain wipe his ass with this at the debates.

  19. No thanks on the MAC. I’ve used plenty of them. When a MAC crashes, it’s OVER.

    And I REALLY don’t like their incompatibility quotient with software off the mainstream path.

  20. I’ve been saying it from day one….the empty suit is a liar. LIAR!!!

  21. Uppity, on a more serios note, as much as you are on the net its advisable to use CrapCleaner:

    http://www.ccleaner.com/

    Get it and use it often, if you already don’t, you will be amazed at how nice it keeps your pc running.

    cat

  22. even a poor idiot such as myself can figure this one out.
    seems that McCain had the simplest plan, that could have worked if it had been implimented in 2006 when proposed. the only surprise is that it took this long to infect the rest of the financial system. Obama’s plan was not only LATE but it rewards ppl who don’t deserve a bail out. there are plenty of borrowers who clearly purchased beyond their means when they should have selected a starter home, or continued to save & rent. not just poor ppl either. moderate income ppl in FL are the worst offenders. on top of that speculators have driven the prices to where nothing is affordable. there are half built high rise condos where the units were flipped so many times the prices are thru the roof. construction will never be complete on those. the loans are in default. mortgage brokers here are criminal, but consumers should know better. if they can’t understand the terms they shouldn’t buy. no doc loans should be outlawed.
    Credit Card Joe should keep his mouth shut. those interest rates on unsecured loans & plastic aren’t helping consumer credit. i noticed his son stopped his lobbying activities just before the convention.

  23. I’m convinced that this entire problem was started by a ridiculous socialist initiative of the Carter Administration to put every American into a house of their own, even if they couldn’t afford it.

    Pure greed on the part of bankers then kicked in to give out as many such loans as possible. The end result was inevitable.

    The fact that your government is now bailing them all out is understandable from a political point of view, but so incredibly wrong.

  24. I just ran across the following post in the Topix forums. Why Obama will Lose :

    “AMERICA WILL NOT ELECT A FLAKE

    Barack Obama will be defeated, not due to racism, but because he is a flake; and the American people have begun to see it. The chief characteristic of a flake is that he makes choices that are impossible to either understand or explain. These are not the errors of the poor dope who can’t grasp the essentials of a situation, or the neurotic who ruins things out of compulsion.
    What are some of these incidents?

    Here’s a young man who graduated from Columbia, with a choice of positions anywhere in the country. He comes from a state generally held to be a close match to Paradise. So where does he choose to go? Chicago, one of the windiest, coldest, corrupt, and most brutal cities in the country.

    And what does he do when he reaches the city? He joins a cult. Jeremiah Wright’s Trinity United Church has been turned inside out since the videotaped sermons appeared early this year. Why did he join? Was it street cred? There are a plethora of black churches that would have provided him that without the taint of demented racism that Wright’s church offered.

    Obama apparently had to swear an oath of belief in “black liberation theology” when he joined the church. Did the thought of his career ever cross his mind? Didn’t he realize that church would inevitably cause him trouble somewhere down the line?

    Back at school, Obama got himself named editor of the Harvard Law Review, but then he writes nothing for the journal. And the explanation? There’s none that I’ve heard.

    We follow Obama down to Springfield, where as a state legislator, he voted “present” over 120 times. What this means, as far as I’ve been able to discover, is that he voted “present” nearly as much as he voted “yes” or “no”.

    We turn eagerly to learn what his term in the U.S. Senate will reveal, only to be disappointed. But it’s not surprising, really. After all, he was only there for 143 days before he announced his interest in running for President.

    And there lies one of the keys to Obama’s rise; Obama spent too little time in any of his positions to make an impact one way or another. This is what saved him from the normal fate of the flake: he was never around long enough for his errors and strange behavior to catch up with him.

    But a presidential campaign is a different matter. If Obama is a flake in the classic mode, now is when it would come out. And has it?

    First came the Wright affair. Obama apparently thought he was above it all — a not-uncommon phenomenon with flakes — and allowed the revelations to take on a life of their own before bothering to respond.

    Then came the birth certificate saga. On no reasonable grounds, the campaign blew off requests for a copy of the document, at last releasing it through one of the least reputable sites on the Internet, and so badly copied that literally anything could be read into it — and was.

    The latest pothole (or one of them, anyway) involves Jerome Corsi’s The Obama Nation. The smart method of answering Corsi would have been to allow the media to handle it, instead of drawing attention to the book and raising it to level of an issue. This appears to be a real talent for the Obama campaign.

    We’ve never had a flake as president. We’ve had drunks, neurotics, cripples, louts, and fools, but never a career screwup. And I don’t think we’re going to get one now. Another three months of flailing, incompetence, and a collapsing image will do little to assure voters concerned with terrorism, the oil crunch, a gyrating economy, and a bellicose Russia. In the fullness of time, we will inevitably see such a figure in the White House. But not this year, and not this candidate. Such acts of national flakery occur only when there’s no real alternative. In this election, an alternative exists. Whatever his shortcomings, nobody ever called John McCain a flake.
    El Paso kills babies
    Santa Cruz, CA”

  25. Cat I’ve been using CCleaner for five years. And digital shredder. And 4disklclean. I am a security freak. I also know every single cookie that somebody tries to lay on my machine and I decide whether or not I want it. I also use a firewall, two AVs, run Hijackthis twice a week, adaware and spybot.

  26. Cat, Bush is a flake. he was elected twice.
    he accomplished nothing before & after. spent & lost lots of his daddy’s friends’ money. was a a lousey governor. couldn’t complete an enlistment in the Guard – one weekend a month as a reservest.
    Bush has an MBA from Harvard.

    flake description fits most of Obama’s supporters.
    MSM is full of flakes.
    i read somewhere that the reason BO didn’t write anything for the HLR was because he didn’t want anyone to pin down his viewpoint. the selection for editor at that time wasn’t based on scholastic acheivement. his classmates were impressed that he was older & had actual life experience as a community organizer. some ppl are easily impressed.

  27. This is what makes me sick. Freddie and Fannie use taxpayer money to lobhy politicians to keep it in business. They’re not accountable for how bad the loans they back are. And since they let anyone get a loan with no consequences, of course the investment firms are going to use it as an investment. Obama acts as if Bear Sterns and Merrill wanted to go out of business.

    It’s like if Barky crashed his car into your house and then had a press conference the next day saying how bad you were at keeping your house in order.

  28. I just google “Obama Flake”

    Seem the piece I posted above was plagerized from this nice piece:

    http://tiny.cc/nFRUr

  29. And here is a link to a site with a box of “Frosted Flakes” featuring Obama & Biden

    http://astuteblogger.blogspot.com/2008/09/they-are-flakes.html

  30. Bambi alters web page again:

    http://slate.com/id/2200517

  31. Let’s see – Stats show sexual attacks in prison are more likely to occur when inmate is:

    1. White
    2. Young
    3. Comes from a middle class background
    4. Not street smart, and/or no gang affiliations.
    5. Physically of small stature.

    Seems to me young Kernell fits the profile. Looks like the little punk gets to be Big Leroy’s F*%K boy in prison. With that beautiful soft curly hair of his he’ll have no problem attracting a wolf. I’m sure he’ll be ironing someone’s shirt in no time.

  32. UW: I seldom disaree with Pagan Power. Today, however, his main post calls for us to not point fngers in the current economic crisis. For the benefit of his readers, I posted the link to this article of yours. I’m absolutely at the end of the rope of pure evil being dangled before the world by Obama. Yes, EVIL, in the full theological sense of the word. Barack Hussein Obama is not only the enemy of the people, he is The Enemy–of God.

  33. I’m sure fellow inmates will be shouting “Yes we can!” during young Kernell’s welcome party.

  34. cat you should let the blogger whose piece was stolen know. That’s despicable. Give him the thieve’s link.

  35. “cat you should let the blogger whose piece was stolen know. That’s despicable. Give him the thieve’s link.”

    Sure will. I know how you feel about that :-)

  36. Holy Cow Denise, do you think his cellie will put up the sheet or let the other inmates watch?

  37. @deadender

    What sheet? Inmates will be in line waiting their turn. LOL

  38. […] over on Uppity Woman, there is an excellent post highlighting McCain’s unheeded warning on the troubles at Fannie […]

  39. Hey Denise, as someone else put it, everyone wants to be the cell mate of a 20 year old with doe eyes and lovely headcurls.

  40. If he did it, he will never see a day in jail because of who his daddy is. You can bet Obama’s helping out. After all, he loves those sycophants who would do anything for The One.

  41. As fun as prison sodomy is, I really hope Jr’s daddy tries to get him released with no charges. That will really keep the story in the news.

    Obama rewriting his website is about as close as I’ve seen to “1984.” And now, newspapers are retracting their statements so Barky never had an advisor on the board of Fannie Mae.

  42. Yes P4, Winston is definitely working for Barack Obama. You have to take screen shots when you find something because you can bet it will disappear if you don’t.

  43. Robert W., on September 21st, 2008 at 3:21 pm Said:
    I’m convinced that this entire problem was started by a ridiculous socialist initiative of the Carter Administration to put every American into a house of their own, even if they couldn’t afford it.

    Editing you for correctness:

    Pure greed FEAR on the part of bankers OF NOT BEING ALLOWED TO GROW THEIR BUSINESS BECAUSE OF THE CARROT AND STICK IN CARTER’S COMMUNITY REINVESTMENT ACT then kicked in to give out as many such loans as possible. The end result was inevitable.

    The fact that your government is now bailing them all out is understandable from a political point of view, but so incredibly wrong.

  44. GO, JOHNNY MAC! John on 60 Minutes was asked who he would appoint as head of the SEC, since he said he would fire Cox. McCain shot back “Andrew Cuomo.” Cuomo is a DEMOCRAT, and has been a tiger on the corruption and collusion in the mortgage industry, as NY atty general. From Wiki (so take with a grain of salt):

    On November 7, 2007, as part of his probe into the mortgage industry as New York Attorney General Cuomo announced subpoenas for Freddie Mac (FRE) and Fannie Mae (FNM) requesting the companies retain an independent examiner to review mortgages and appraisals.[citation needed] Cuomo sued First American Corporation (FAF) and its eAppraiseIT unit for allegedly colluding with Washington Mutual to use a list of select appraisers to inflate mortgage appraisals.

  45. UW,

    This is one time I hope you’re wrong. That punk deserves punishment earned. It’s outrageous to even think he might get away with just a slap on the wrist. I can’t see Sarah P letting it go without a pound of flesh. Hacking e-mail is a federal crime. If they let him get away with it, it will be open season on all politicians, reporters and public figures. (Now wouldn’t it be interesting if all e-mails from Obama camp reps and news media were made public?) he easily has about five or six felony counts against him. I see him doing 1 1/2 to 2 years at least.

  46. The media is beyond belief. They are scrubbing everything that can harm precious. I’ve never seen anything like it. Even the Bush administration wasn’t this bad, and I thought they were bad! This is a nightmare, truly scary; I can’t even let myself think of this psycho thug in office

  47. This made me laugh:

    @Riverdaughter’s there was a discussion on how Obama is giving up on certain states and pulling out of them –
    myiq posted:
    “In November Obama and his supporters will have three states – confusion, shock and dismay”

    God, may his words come true!

  48. Yanni, thank you for your addendum. In case you’re interested, Mark Levin carefully went through the history of what occurred here. I realize that he’s not everyone’s cup of tea but I would sure like to have someone try to tear apart the facts as he has presented them. My intuition tells me that they’d not be able to.

    My fear about all of this though is that the general U.S. population is NOT hearing the truth about McCain wanting to stop this mess long ago. How anyone can reasonably argue that Obama would be able to tackle this financial situation is mind boggling to me.

    Most every day I view this electoral map. We’re nowhere close from ensuring that Obama will lose. So keep up the pressure folks!

    On a lighter note, here’s something for you all to enjoy on this Sunday evening: http://www.youtube.com/watch?v=c4llHNTMZjE

  49. McCain was on 60 minutes tonight (as was Barry) and he debunked that often quoted line that he supposedly said he didn’t know anything about the economy. He said, emphatically, that he DID know a lot about the economy and that he has been a member of the Committee on Commerce for years.

  50. See fabricated white racists lies easier here UW and cat.

    http://quipster.wordpress.com/2008/09/22/fabricated-voter-quotes-by-media/

    Do not believe you will crash.

    Getting annoyed with TV reporters cutting off candidates either McCain or Palin. SP with Gibson. And tonight McC on 60 Min. They prob have god answers, so easier to chop ‘em off and let em end up on editing floor.

  51. TYPO ALERT – meant good (not god). Sorry.

  52. Uppity raGing sent me a link to barky’s voter fraud page. Ck out DErs

  53. Townecrier, you’re right, 60 minutes did cut off McCain’s answer about his economic experience but at least McCain was able to get in that much before he was cut off.

  54. interesting post.
    How the Democrats Created the Financial Crisis: Kevin Hassett

    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

  55. Great, revealing post and I hope s.o. reminds the McCain-campaign about it. Great site, too.

    POSSIBLY IMPORTANT :
    An article in a Dutch paper mentioned the differences between the amount of editing done by the candidates, citing Slate http://www.slate.com/id/2200517/

    The editing by Obama that struck me was “family issues” :Barack’s “strong opposition to a bankruptcy bill from 2005″ was removed from his site.

    As my knowledge of US Bills is understandably little (I’m Dutch) I haven’t followed up on it much, but is it possible these Bills were related or even the same?

    Curious minds et al. ;P

  56. Obama is just an empty suit with a collar and a leash that the House Speaker is controlling my friends! We can not afford one minute of Obama being in charge of this great Nation! Thanks for a very information post!

  57. Have you heard any news media stories about ANYTHING that Obama has done? For a guy who claims to have done so much, there is very little in the way of substance. For instance, Obama has authored 1 bill in the U.S. Senate, and is was PASSED. It will give approximately $50,000,000,000 to the Democratic Republic of CONGO!

    That’s is one law. And it doesn’t even benefit a single AMERICAN!

    Don’t take my word, go to the Congressional Record and look it up yourself.

    Oh, yeah his name was slapped onto a non-proliferation bill to give the Senator from IL some foreign policy “experience”, but that bill was just an amendment to a bill written by the other co-sponsor, not Obama.

    Notice there aren’t any Media stories about Obama CUTTING TAXES in Chicago? Wonder why?

    Michigan faced a 1.2 Billion dollar deficit recently. They had the great idea (Like Obama) of raising taxes to make up for the shortfall. They raised taxes alright, and REVENUE TO THE STATE DROPPED. Now they are in an even bigger mess than before. And companies and jobs are fleeing Michigan.

    See what higher taxes (even on the rich) does for an economy. Even JFK knew enough to lower capital gains taxes. Why doesn’t Obama listen to JFK? Oh, yeah he wants to be “fair”.

    Good luck with that.

  58. Sorry, too many zeros in the previous post. With all this Freddie/Fannie bailout talk I quote the cost of the CONGO bill as 50 Billion when it should be $50 million.

    Still that $50 million for the Congo, $0 for Americans so far with Obama’s bills that were passed into law.

    Shameless.

  59. Reasons to remain in America are really getting slim, aren’t they?

  60. […] need for regulating Fannie and Freddie, among other investment banks. John McCain was a cosponsor: John McCain’s Fannie Mae/Freddie Mac Warnings – MAY 2006.  And Barney Frank and Chuck Dodd had a bill in the last Congress that was filed as S.190 and […]

  61. Hi,
    Great post….I hope ypu do not mind…I post it on my website…giving you credit as the source…with link(s) back to your website.

    Check out the guys working for Obama…from fannie & Freddie

    ITS INSANE!

    Peace,
    Dan

    http://iraqsinconvenienttruth.com/

    RSS: http://iraqsinconvenienttruth.com/feed

    ______

    BTW: if you want me to remove the post for some reason…let me know and I will take it down….but the American People need to “get it”…before its to late.

  62. Hi Dan, you are always welcome to cros post with block quotes and link to my blog. Any time! The more who know the truth, the better! And stop by more often!

  63. Ah I tried to leave you a comment, Dan but your comments are closed.

    It’s an interesting cast of characters we have who should be in prison for deliberately bringing down the economy with the intent of redistribution of wealth from the middle class. But of course, there is no middle class in Socialism, is there now?

  64. Hi,

    Sorry…my blog is more I post…people read it or not…lol

    I allow comments…I just get so much spam…I turn them off.

    I will look to see if you have a comment in “moderation”…if so…I will be happy to post it.

    Best,
    Dan

  65. I hit a “Comments are closed” wall so couldn’t leave a comment.

  66. Has anyone read the S-90 reform act. The reason this act was established is because of the accounting scandals. Reason why it didn’t pass is because. It will get rid of OFHEO and Federal Housing Finance Board (Which was not part of the accounting scandal). Which will get rid of certain regulations on both oversight entities. It would have been okay. If those wasn’t part of the Bill. Do you know what those 2 entities do?

    Established 1992

    http://en.wikipedia.org/wiki/Office_of_Federal_Housing_Enterprise_Oversight

    Established 1989

    http://en.wikipedia.org/wiki/Federal_Housing_Finance_Board

  67. John McCain did see the Fannie mae and Freddie Mac thing coming on and reported it to the democratic congress on May 26, 2006 and they turned it down for reform. When did Obama report it? Was it when he was getting donations from the totaling over $100,000.00 in a 3 year period or when he was working for Acorn who was one of the companies who helped put us there in the first place. No matter who was involved (which was a ton of people) we can’t afford another 911 especially if its from the inside since we all know Obama has dabbled in terrorism in his adult years. You might not want to admit the truth but birds of a feather flock together.

  68. One thing Bush has done for the office of the President, he brought Honor to the Office. You can not say Bush is not Honorable. After Bill Clintons folleys, the White House needed a bad Cleaning with Clorox. But Clinton only did what JFK did.

  69. Yes I can say Bush is dishonorable and I will. George Bush is so full of shit it’s amazing he hasn’t imploded. He’s so crooked he could hide behind a corkscrew. But I’m not going to let it ruin the important focus of this blog, which is Obama right now. Robert, I want you to know i am a Democrat and I’m not going to put up with horse shit about everybody in my party. I know where the squirrels are and I know where they are in the Republican party too. While Clinton had a zipper problem,the only thing that separated him in that score from the rest is he GOT CAUGHT. My portfolio misses him and if you had a portfiolio you would be saying the same damed thing. We didn’t have an economy like this one under him that’s for SURE. If he were running again I’d be voting for him. I get the distinct sense from you when you post that you hate all democrats. If that’s the case you need to get off this board because I am one of them.

  70. Interesting. I’ve read multiple blogs on this site that say McCain reported in May 2006 to the Democratic congress. How is this possible? The Democrats didn’t become the majority until the 2006 election, which was held in November. The Republicans were in control of both houses beginning in 1994. At least get something that simple correct or you sound ridiculous. So McCain’s “cronies” who defeated this bill were his fellow Republicans.

  71. Nice Try Irrational. Barney Frank made sure it never got out of his committee.

    Now run along.

    Here, let me help you. Click.

  72. […] parties share blame. But what did President Bush do? What did John McCain do? Oh, alright: Here. Here’s what they did. ‘Nuff said.   […]

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