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Old 09-25-2008, 12:57 AM
 
Location: Unperson Everyman Land
38,642 posts, read 26,378,527 times
Reputation: 12648

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Recently Senator Barack Obama has been helping us all understand how the financial crisis we now face is the fault of the Bush-McCain team. So lets explore how we got to this point, who the players are and how they were corroupted.
Fannie Mae and Freddie Mac are government sponsored entities (GSEs) that contribute to lawmaker's campaigns in a huge way. The Number one receipent of Fannie and Freddie funds is Senate Banking Committe chairman Dodd (D). He received $165k over an 11yr period plus a sweetheart VIP refinance from Couuntrywide. Number two is Senator Obama (D). He received $126k but in less than 4yrs (sure am glad they helped finance his young political career, otherwise, who would be around to help us undestand that this is Bush-McCain's fault?) Third is Senator Kerry (D). He received $111k. Most notably, Senator John McCain (R) received a staggering $26k (sleazy creep! He must have no conscience at all! You just can't trust a Repuplican!)
Well, I think we can see now that, would-be patriot, Senator McCain was boughht off. All he needed to do after that was to make sure with his partner (Bush) that no meaningful reform was introduced into the Senate or the Congress that could hinder the corrupt upper management of the GSEs (including Freddie CEO Jim Johnson and former Clinton economic advisor and Fannie CEO Franklin Raines, both now advising the Obama campaign) while they inflated earnings so as to trigger automatic bonuses for themselves.
Well, I'm not quite sure the Bush White House really undestood how the corruption thing worked because they introduced legislation in 2003 that would, had it received support, created a new agency to oversee the GSEs. But the National Builders Association and Congerssional Democrats opposed the reform. That's a good thing for McCain. It may have really hurt his illicit campaign cash cow.
But you know, McCain isn't any brighter. In 2005 he cosponsored the Federal Housing Enterprise Regulatory Reform Act of 2005. Looks like he doesn't get the whole corruption thing either. Maybe he has Alzheimer's disease and forgot he was on-the-take when he said on May 26, 2006 " 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 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 finacial system and the economy as a whole. I urge my colleagues to support swift action on this GSE reform legislation". Senator Dodd's (remember him?) powerful Banking Committee helped them out again by allowing it to die in his committee without ever going to the full Senate for a vote. Senator McCain should give a special Thank You!!! to that young Senator from Illinois. He voted against it! You know him. He's the one who understands economic policy so much better than incompetent, out-of-touch Bush-McCain.
Well, it's obvious that this catastrophe begins and ends with Bush-McCain, All I can say is, "Can we really afford four more years of Bush-McCain?" They can't even get the selling out of one's country right! Someone (perhaps that nice senator from Illinois) should explain to them how pimpin' off America should be done. It's simple really, talk tough, tell everyone what they want to here but actually do nothing! You certainly cannot introduce meaningful reform measures. After all, at the end of the day, actions speak louder than words. ANYONE LISTENING???

Good! Because, and you heard it here first, other troubled corporations will be looking for bailouts. I see G.E. on the horizon. You know, the one that owns NBC, the network that always makes a point to be completely objective in their campaign coverage never doing any particular political parties or candidates any favors. I hope I'm wrong.
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Old 09-25-2008, 11:00 AM
 
1,247 posts, read 3,863,121 times
Reputation: 556
You know that there is a political forum, right? PLEASE VENT YOUR CONCERNS THERE, NOT HERE!!!!!
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Old 09-25-2008, 11:09 AM
 
1,247 posts, read 3,863,121 times
Reputation: 556
By the way, that was Bipartisan yelling. This would be a great read on the political forum, BUT NOT HERE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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