Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Last edited by Ibginnie; 09-23-2008 at 11:37 AM..
Reason: Added text from link
Definitely in the wrong forum.
From Shaken's article:
(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.
In today's Bloomberg news: The lobbying firm of the man Republicans say John McCain has chosen to begin planning a presidential transition earned more than a quarter of a million dollars this year representing Freddie Mac, one of the companies McCain blames for the nation's financial crisis. The McCain camp was also dealing with reports about the lobbying work of campaign manager Rick Davis.
The New York Times reported yesterday that Davis was paid almost $2 million in fees over five years by a group primarily funded by Freddie Mac and Fannie Mae that was intended to help stave off more stringent federal regulation of the housing companies Link
That article isn't journalism or even a news article, it's an OP-ED piece by a guy from a conservative think tank. Just talking points distributed via the news wire.
Definitely in the wrong forum.
From Shaken's article:
(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.
In today's Bloomberg news: The lobbying firm of the man Republicans say John McCain has chosen to begin planning a presidential transition earned more than a quarter of a million dollars this year representing Freddie Mac, one of the companies McCain blames for the nation's financial crisis. The McCain camp was also dealing with reports about the lobbying work of campaign manager Rick Davis.
The New York Times reported yesterday that Davis was paid almost $2 million in fees over five years by a group primarily funded by Freddie Mac and Fannie Mae that was intended to help stave off more stringent federal regulation of the housing companies Link
At the risk of turning this into a political thread, I have to say this:
If McCain were so tainted by former Fannie Mae/Freddie Mac lobbyists (ignoring Obama's ties to Frank Raines and Jim Johnson, as well as the hundreds of thousands of dollars that Obama received from Fannie/Freddie that seemed to taint his votes accordingly), why was McCain the one back in 2005 arguing for a bill that Fannie/Freddie didn't want (and apparently, neither did Obama, Dodd, and other Dems)? Had that bill passed, the current crisis likely would have been avoided.
Sorry everybody, but this thread in no way relates to Jacksonville/NorthEast Florida. We've had a few reported posts about it and I need to move it to the Politics and Controversies forum; subforum 2008 Election.
At the risk of turning this into a political thread, I have to say this:
If McCain were so tainted by former Fannie Mae/Freddie Mac lobbyists (ignoring Obama's ties to Frank Raines and Jim Johnson, as well as the hundreds of thousands of dollars that Obama received from Fannie/Freddie that seemed to taint his votes accordingly), why was McCain the one back in 2005 arguing for a bill that Fannie/Freddie didn't want (and apparently, neither did Obama, Dodd, and other Dems)? Had that bill passed, the current crisis likely would have been avoided.
He wasn't arguing for the Bill. He was speaking about the accounting practices the GSE's had engaged in.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
