Obama; Takes credit for failed Bailout (Representatives, votes, Congress, campaign)

[sanrene]

http://www.cbsnews.com/htdocs/pdf/FTN_092808.pdf

YouTube - Barack Obama on Face the Nation part 1

YouTube - Barack Obama on Face the Nation part 2

SCHIEFFER: Let me ask you this. You and Senator McCain took very different approaches to this. He suspended his campaign, he called for a big summit meeting in Washington.

Sen. OBAMA: Right.

SCHIEFFER: You stood back a little bit at that point. Now that this--it looks like they've gotten to some agreement, should Senator McCain be getting the credit here for forcing these people back to the negotiating table?

Sen. OBAMA: No. Look, here's--here are the facts. For two weeks I was on the phone every day with Secretary Paulson and the congressional leaders, making sure that the principles that have ultimately been adopted were incorporated into the bill. I mean, if you think about it, those items
that you mentioned at the top of the show...

SCHIEFFER: Mm-hmm.

Sen. OBAMA: ...none of those were in the president's provisions. They are identical to the things I called for the day that Secretary Paulson released his package. That, I think, is an indication of the degree to which, when it comes to protecting taxpayers, I was pushing very hard and involved
in shaping those provisions. But understand this: The important thing here is making sure that we don't have a photo-op session, because this is serious.

Didn't he really do that yesterday on Face the Nation? He didn't want to give Mac any credit at all for a bill he thought would pass - he wanted to take all the credit.

What about now? What did he do to get those 99 democrats on board? Nothing. He "called it in".

Of course, the media has already forgotten this video from yesterday.

[Houston3]

He did....

[sanrene]

He did...what?

[floridasandy]

thanks for the post. as we see, there are two sides to every story so i guess both mccain and obama can take credit for the failed bailout bill. of course the bad news is that both were on board for a plan that americans did not want.

[clongirl]

Originally Posted by sanrene

http://www.cbsnews.com/htdocs/pdf/FTN_092808.pdf

YouTube - Barack Obama on Face the Nation part 1

YouTube - Barack Obama on Face the Nation part 2



Didn't he really do that yesterday on Face the Nation? He didn't want to give Mac any credit at all for a bill he thought would pass - he wanted to take all the credit.

What about now? What did he do to get those 99 democrats on board? Nothing. He "called it in".

Of course, the media has already forgotten this video from yesterday.

You can nitpick ANY tidbit of information to try to make yourself and your candidate look better than the other guy. I tend to take of any political biases to prove any points to this whole economic mess with a grain of salt. It's really sooo complicated even for the most educated economists to fathom.

I don't have all the answers and neither do the candidates or even the guy you put into office these past eight years. Time to step back, look at how it might have come about and stop the blame- prevent this from happening ever again.

I wouldn't vote for a Republican, but not because of this mess. I'm smart enough to know that both parties were involved with turning a blind eye just like the citizens did when they were told they could afford that 500k house. We all know that most people aren't smart enough to know that they can't afford something especially when there is someone (that's supposedly knowledgeable like agents, brokers, banks etc) cheerleading to them that they can do it- everyone else is. Stop trying to pin any one person down for this. Doesn't really matter- it affects all of us and our kids

[Cleanmaxx Brian]

Sanrene, I thought you were for McCain????

Read what you put in quotes again. Obama wanted to add all the things that protect tax payers and he got them. And to be fair, those things that were added were also at the top of McCains list. So basically both of these guys got what they wanted and that was protection for the tax payers. (A good thing!)

Now, is when politics comes into play...
The dems have the power to get the required votes without and republicans. But they do not want to! Why? because if it is a bad deal, they don't want to take all the blame.

So everybody tries to get the republicans on board. Some join but many don't. (And to be honest with you, I really don't blame any one who doesn't vote for this) Then we have a real problem...Nancy goes off and starts rubbing in that this mess is all the republicans fault. Weather it is or not (I believe it is all of their faults!!!) she should have kept her mouth shut. Basically she pissed off enough republicans to keep it from passing.

Now back to the candidates...they are both playing their cards. McCain says he went there to get republicans on board as well as to get the things on the bill I mentioned above. Obama did the same thing except he did not try to convince republicans to come on board. He knew his party would support their share.

Now the bottom line...and this is the part you wont like. When it comes to this problem, most people believe the Bush administration should have caught the mess. (In fact McCain tried to warn them but know one listened) Being that people blame Bush, they automatically link him to McCain and no matter what, this will help Obama. No matter what you post here, no matter how good your argument is, McCain will not look very good when this is all over. From the time he suspended his campaign, his numbers started to drop. Obama may have "called it in" but the public knows that if all you really needed to do was to get stuff added to this bill that would protect the tax payers and that Obama was able to get all 4 of his requests by phone, they have no problem with him.

[WinterinAmerica]

Originally Posted by sanrene

http://www.cbsnews.com/htdocs/pdf/FTN_092808.pdf

[url=http://www.youtube.com/watch?v=FRyQSJzlt_s]\
What about now? What did he do to get those 99 democrats on board? Nothing. He "called it in".

Excuse me, ah but the Democratic Party delivered more votes than promised. As for "phoning in":

"After interrupting his presidential campaign to come back to Washington on Thursday morning to try to push forward a $700 billion bailout deal, Mr. McCain remained in his condominium in Arlington, Va., until 12:30 p.m. Saturday, when he emerged and made a one-minute trip in his motorcade to his campaign headquarters around the corner.

Mr. McCain, who arrived home at 4 a.m. Saturday from the presidential debate in Oxford, Miss, could be seen in his car talking on his cell phone. But there was no word from his campaign on who he was talking to, or the extent of his involvement in ongoing negotiations.

By mid-afternoon, Mr. McCain’s closest adviser, Mark Salter, told reporters that Mr. McCain would not go to Capitol Hill on Saturday but would make phone calls to try to push the deal along."

http://thecaucus.blogs.nytimes.com/2008/09/27/back-in-town-but-not-on-capitol-hill/

[floridasandy]

Originally Posted by Cleanmaxx Brian

Sanrene, I thought you were for McCain????

Read what you put in quotes again. Obama wanted to add all the things that protect tax payers and he got them. And to be fair, those things that were added were also at the top of McCains list. So basically both of these guys got what they wanted and that was protection for the tax payers. (A good thing!)

Now, is when politics comes into play...
The dems have the power to get the required votes without and republicans. But they do not want to! Why? because if it is a bad deal, they don't want to take all the blame.

So everybody tries to get the republicans on board. Some join but many don't. (And to be honest with you, I really don't blame any one who doesn't vote for this) Then we have a real problem...Nancy goes off and starts rubbing in that this mess is all the republicans fault. Weather it is or not (I believe it is all of their faults!!!) she should have kept her mouth shut. Basically she pissed off enough republicans to keep it from passing.

Now back to the candidates...they are both playing their cards. McCain says he went there to get republicans on board as well as to get the things on the bill I mentioned above. Obama did the same thing except he did not try to convince republicans to come on board. He knew his party would support their share.

Now the bottom line...and this is the part you wont like. When it comes to this problem, most people believe the Bush administration should have caught the mess. (In fact McCain tried to warn them but know one listened) Being that people blame Bush, they automatically link him to McCain and no matter what, this will help Obama. No matter what you post here, no matter how good your argument is, McCain will not look very good when this is all over. From the time he suspended his campaign, his numbers started to drop. Obama may have "called it in" but the public knows that if all you really needed to do was to get stuff added to this bill that would protect the tax payers and that Obama was able to get all 4 of his requests by phone, they have no problem with him.

obama has done nothing. since you may not have seen before, here it is:

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):

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.

this is the same franklin raines who is currently an advisor to obama. go figure!

[Cleanmaxx Brian]

Originally Posted by floridasandy

obama has done nothing. since you may not have seen before, here it is:

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 BLAH BLAH BLAH

Floridasandy, PLEASE re-read my post! Let me quote myself from my last paragraph " (In fact McCain tried to warn them but know one listened)"
While McCain should be commended for his effort, there really is plenty of blame to go around.

It is your very reply that has put Obama where he is today, up in the polls. The quick jump down the other guy for political gain is what has turned off so many people. People (And may I add MANY people) want a president who stays calm and grounded during a crises. They want someone who can do 2 things at once without panicking. Someone who can delegate work if necessary. And over the last few days, that has shown very vividly for Obama and not so much for McCain.

[sanrene]

Now, is when politics comes into play...
The dems have the power to get the required votes without and republicans. But they do not want to! Why? because if it is a bad deal, they don't want to take all the blame.

They are also under pressure from their constituents to NOT fund this bailout.

So everybody tries to get the republicans on board. Some join but many don't. (And to be honest with you, I really don't blame any one who doesn't vote for this) Then we have a real problem...Nancy goes off and starts rubbing in that this mess is all the republicans fault. Weather it is or not (I believe it is all of their faults!!!) she should have kept her mouth shut. Basically she pissed off enough republicans to keep it from passing.

Now back to the candidates...they are both playing their cards. McCain says he went there to get republicans on board as well as to get the things on the bill I mentioned above. Obama did the same thing except he did not try to convince republicans to come on board. He knew his party would support their share.

Have you noticed who DID NOT vote for this bill on the democrat side? Look around Nancy Pelosi - see all those representatives that are very close to her, owe her for their committeeships, owe her dearly - they voted no.

Why, you ask?

Could it be that the democrats would like to see this get much, much worse, prolong the nosedive of the markets, intensify the credit crunch, all for the simple reason that it helps Obama get elected. Bad news in the economy is good news for the dems, right?

Would the house democrats be willing to destroy the economy, destroy businesses, see people lose their 401k's and other investments...to get obama elected?

I am thinking they did this for two reasons - prevent McCain from getting any credit for the bailout bill (which he did by bringing in some republicans (from 4 to 65)), and prolong the world-wide meltdown - all for political gain and power.

Am I wrong? Jaded? Paranoid?