Obama: Help for US finance crisis needed from abroad
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Sep 20, 2008, 12:56 GMT
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... where the Fannie and Freddie money that McCain got came from.
SP4, your efforts to portray only Obama as getting contributions from Fannie and Freddie is predictably bias.
Oh yes, you do love your bias SP4.
The fact is over 350 congressmen OF BOTH PARTIES got money from them. ... Yes, even McCain.
Why don't you ask the architect of the deregulation that paved the way for this mess (McCain economic advisor Phil Gramm) ???
(I expect you to take your usual approach ... And reply with something that in essence says 'the guy who got less bad money is somehow less wrong than the guy who got more bad money' When the truth is, they BOTH got bad money. ... now that's not biased.)
With McCain having 19 lobbyists on his campaign staff ... he's hardly 'clean' of influence, as you would like to have people believe.
Barack Obama and Chris Dodd got hundreds of thousands of dollars to turn their backs on this mess while it was in the making, THEY presided over this mess in the senate and Barny Frank presided over it in the house of representatives.
BARACK OBAMA GOT MORE MONEY FROM FANNIE AND FREDDIE IN A SHORTER PERIOD OF TIME THEN ANYONE ELSE. Chris dodd got more in total but he has been in the senate for 10 years:
Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name Office State Party Grand Total Total from
PACs Total from
Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
Then, Obama went out and HIRED Fannie Mae and Freddie Mac advisers to give him advice on economics.
Franklin Raines, an Obama advisor resigned in disgrace, James Johnson and Jamie Gorelick all worked for fannie and freddie and are all advising this incompetent child on economics. Johnson earned $21 million in just his last year serving as Fannie Mae CEO from 1991 to 1998; Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004; and Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003.
Now this fool, this incompetent maniac who helped block reform is going wants foreign investment to fix it. At this point we don't have a choice but to ask for foreign investment which means that we are trusting other governments which might have a different agenda then ours. Thanks Obama.
McCain warned of the coming mortgage crisis as he pressed in 2005 for regulatory reform of Fannie Mae and Freddie Mac. '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,' McCain said on the floor of the Senate in 2005, speaking in favor of the Federal Housing Enterprise Regulatory Reform Act of 2005.
McCain pointed out Fannie Mae's regulator had stated 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 bill passed the House but was never brought up for a vote in the Senate, largely because of Democratic opposition to change in the Fannie Mae and Freddie Mac regulatory structure that remained in place until the Treasury takeover.
AGAIN, Obama got more money from Freddie and Fannie in a shorter period of time then anyone else. And people wonder why there hasn't been reform.
pSep 20th, 2008 - 18:42:11
The American Republic returns on September 11, 2008'
LOOK AT THE DATE YOU ASSHOLE. It is 20 September. Where is your 'American Republic' that now is going to represent us?
Here too the republican internet task force is at work with the usual slander and smear.Especially the dunce SP4 who proudly declared only one month ago that the US economy was going through the roof feels compelled to ventilate his already famous ignorance of simple facts again.Never a word from these gentleman about the causes of this crisis.And of course not a single word on the origin of this crisis from Bush either.So here goes:
The current crisis is the predicted consequence of unregulated investment banks buying and selling debts from the mortgage institutions .As long as the real estate market flourishes,no problem.Once that collapses,or simply stagnates all bets are off,the whole fragile contraption collapses .For decades the banks have dictated their wishes to the White House .It started with Reagan and his reaganomics and ended with Bush .All feeble attempts of introducing rules into this mess have successfully been countered by the successful lobbyists from those banks .Some of the profits they made trickled down to their croneys,no doubt .and so now you are left with a heavy burden.
But no panic:the bill could easily be paid for by those that profited both from the war and the crisis.Time for these gentleman to demonstrate what patriotism should stand for.Unless it is just an empty word used to rally the most gullible and simple folks when the White house is yet to start a war on instigation of the neocons.Let the tycoons show their patriotism for a change.They have been on the receiving end for very long now,they cn afford to pay a bit in exchange
What a load of shit ! Very true, but never-the-less shit, these overseas scavengers like vultures only TAKE, they don`t GIVE.
The US gives an astonishing and economically stupid sum of hundreds of billions of dollars in foreign aid to ungrateful parasitic countries overseas each year - $30 billion by the Government and many more billions by generous American charities.
All this at a self-sacrifice of accumulating a $10 trillion national deficit. We get nothing back, except abuse, death to our people and damage to our property.
At the same time we have every natural disaster possible in our country, which extends from the sub-tropics to the arctic.
Our people suffer death and property loss on an immense scale. The Government are restrictive, slow and mean in compensating poor Americans affected by these natural catastrophes, but are very quick to give countless billions of dollars to overseas countries.
NOBODY out there gives a shit about our tragedies. What on earth should we give a shit about there`s ?
Where are the generous donations from rich countries like China, Japan and prosperous European countries for OUR Hurricanes, Earthquakes, Tornadoes, Tidal Waves, enormous fires etc. etc. ?
You`ve guessed it - BLOODY WELL NON-EXISTENT !
..I've made that argument about senate money before i.e. both candidates getting funds from Enron, or Halliburton and the standard dem Libnazi response was always 'Bush got more!' and we were, I guess, supposed to work some kind of formula which, when we tallied the answer, would guide us to the inevtiable conclusion that Bush was, somehow, tainted more.
So tell me Proessor, how much Fannie Mae blood money did McCain and Obama get? Get back to us on that, would you.
Tonny, Obama took more money from Countrywide to stop regulation then any other senator. The CEO's there wound up on his campaign staff. Obama took more from freddy and fanny in a shorter amount of time then any other senator. The CEO's there wound up on his campaign staff.
All of these failed and CAUSED the crisis.. See a pattern?
..but a lowly senator from Arizona, in 2005, tried to reign in some of this mess, bringing accountability into the process and the democratic party made sure the bill died. One might call this man a reformer, or even a Maverick, in doing this, when, at 69 years old, he could resign to the comfort of one of his four homes and a $100 million fortune of his wife, after a lifetime of correctly serving this nation and the state of Arizona. Instead, he gets on the horse every day and continues to do so.
You know, this guy should be...president!
One only has to ask where the Messiah, the boy-king from Illinois was back then, busy getting favors from Tony 'the knife' Rezko, or packing funds away from the Fannie Mae Di Medici's, to feed his ascension to power. I would agree that this is 'community Organizing' I'd just have to ask which community he serves....the banking community perhaps?
Now, the dems are exposed as having taken millions in campaign funds from the likes of Fannie Mae and Freddie Mac potentates, millions more in personal loans to guys like Rep. Barny Frank (D) and Barak Obama (D) and others too. The dems forced banks to make low interest loans to folks who could not pay them back, exactly the reason for this mess. It was libnazi socialism, complete with the graft and corruption that goes hand in hand with it all. Who has to fix their mess?
Why GW Bush, of course!
The perfect man for the job, making America take it's medicine and then they can, once again pillory him for it, like they did in Iraq, Afghanistan, N. Korea, Libya, etc. Bush, what a godsend for Congress!
Besides, Tonny, Europe has the same mess going, as we speak and I'm almost sure the neocons don't run Europe. Britain just finished nationalizing some lending institutions and more are expected, so run off and see how they're dealing with it. Be sure to get back to us.
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SP4: Tell us BarakSep 20th, 2008 - 17:05:14
...which nation, exactly, did the money the Fannie Mae and Freddie Mac Di Medici's gave you, come from? Get back to us on that one, would you?
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