Fiends In Stocks

[stratocasterca]

i don't watch fox, but remind me again what his plan was, other than to wait for the Fed's solution? and meanwhile, "i think this situation is bad and the bad guys should be brought to justice, and oh, since i have the microphone, Palin sucks and i am prettier than her?"

LOL

"For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac…and the sheer magnitude of these companies and the role they play in the housing market…If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie and Freddie pose to the housing market, the overall financial system, and the economy as a whole."

That’s John McCain from 2005, speaking in support of legislation to control Fannie and Freddie.


Barack Obama was concerned as well — concerned, that is, to make sure he was collecting as much money as possible from Fannie and Freddie. He did well, too, becoming the third top recipient in the Senate of Fannie and Freddie contributions from 1989-2008 and lined his coffers to the tune of $123,000 [UPDATE: Make that second top recipient.] That’s fast work, since he’s been a Senator for only 4 years.

Yes, I know Republicans controlled Congress during this time. But this election is between McCain, who tried to do something, and Obama, who took money from Fannie and Freddie. As Ed Morrissey noted in the post linked above, the 2005 legislation never made it out of committee — and “Chris Dodd, then the ranking member of the Banking Committee and now its chair, was in the middle of receiving preferential loan treatment from Countrywide Mortgage, one of the companies gaming the system in the credit crisis.”

embedded links
http://patterico.com/2008/09/21/republicans-sought-better-oversight-over-freddie-mac-and-fannie-mae-democrats-opposed-it/