Proof McCain warned in 2006 Fannie/Freddie crisis...

[Outnumbered]

http://www.humanevents.com/article.php?print=yes&id=28973

 

[Outnumbered]

McCain Letter Demanded 2006 Action on Fannie and Freddie
by Human Events (more by this author)
Posted 10/10/2008 ET
Updated 10/10/2008 ET



Sen. John McCain's 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below.

McCain's letter -- signed by nineteen other senators -- said that it was "...vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]...operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either...should fail."

Sen. Obama did not sign the letter, nor did any other Democrat.

The full text of the letter appears below.

 

[Outnumbered]

If he does not bring this out in force soon he deserves to lose the election.

McCain: hit 'em hard or go home.

 

[zhandfull]

By 2006 the damage was done:hmm

 

[TPC]

He should have called a news conference, gone on Hannity and Combs, Larry King,, Leno,, the whole route and action then would have been taken.
Can't just write a letter that he knows will dissapear down a black hole.
Ya gotta make noise and he knew it.

He was sweating major league pressure from the Mortage industry to back off, and wrote the letter to cover his ass later on.

They tried to hold off on the bailout until after the election, but when banks stopped loaning each other money, it was too late they had to act.

The price of oil is falling for the election.
After the election it will go back up.

I'm a Conservative Republican but have to admit,, the smartest guys in the room got us again.

We've been had.
The bastards got us good this time, and we have to 'fess up, reach down inside of us and admit our own party is corrupt.

 

[Outnumbered]

By 2006 the damage was done:hmm

I agree. But Obama is preaching that HE was the one that warned about this coming doom yet he did not even sign-on to the letter. It just shows you how good of a speaker (and a liar) Obama is. He is very convincing.

This is a problem with roots in the New Deal era. It goes back way farther than 2006.

 

[Outnumbered]

He should have called a new conference, gone on Hannity and Combs, Larry King,, Leno,, the whole route and action then would have been taken.
Can't just write a letter that he knows will dissapear down a black hole.
Ya gotta make noise and he knew it.

He was sweating major league pressure from the Mortage industry to back off, and wrote the letter to cover his ass later on.

They tried to hold off on the bailout until after the election, but when banks stopped loaning each other money, it was too late they had to act.

The price of oil is falling for the election.
After the election it will go back up.

I'm a Conservative Republican but have to admit,, the smartest guys in the room got us again.

We've been had . The bastards got us good this time. and we have to 'fess up our own party is corrupt.

I agree TPC, but McCain is the lesser of two evils by a wide margin. We won't stop Socialism overnight. Baby steps...baby steps.

 

[SHAKE-YO-AZZ]

well I think they both suck ass but I thought this was funny



Subject: Who would you hire?

If you were the Boss... which team would you hire?

With America facing historic debt, multiple war fronts, stumbling health
care, a weakened dollar, all-time high prison population, skyrocketing
Federal spending, mortgage crises, bank foreclosures, etc. etc., this is
an unusually critical election year.

Let's look at the educational background of the candidates and see what
they bring to the job:

Obama:
Occidental College - Two years.
Columbia University - B.A. political science with a specialization in
international relations.
Harvard - Juris Doctor (J.D.) Magna Cum Laude

& Biden:
University of Delaware - B.A. in history and B.A. in political science.
Syracuse University College of Law - Juris Doctor (J.D.)

vs.

McCain:
United States Naval Academy - Class rank 894 out of 899 (meaning that,
like George Bush, McCain was at the bottom of his class)

Palin:
Hawaii Pacific University - 1 semester
North Idaho College - 2 semesters - general study
University of Idaho - 2 semesters - journa! lism
Matanuska-Susitn a College - 1 semester
University of Idaho - 3 semesters - B.A. in journalism

Now, which team are you going to hire to lead the most influential
nation in the world?

 

[Racey]

If McCain was really that smart the prick wouldn't have voted for the Bailout.

 

[TPC]

In all sincerity, Bush and Cheney thought when we entered Bagdad it would be like when we entered Paris in WW2 or Kuwait in Desert Storm.
People in the streets cheering us on, flowers, wine, naming their kids after our generals.

And then we'd pull out,, and,, Haliburton would just happen to be left behind.

Instead we have this awful war. The worst foreign policy disaster the USA has ever done.

I love my country.
I want my country to come home, take care of it's own, straighten out corrupt government.
Neither Obama nor McCain is up to the task.

Their isn't a dime worth of difference between the parties.
They are all out for themselves.

They raised the price of fuel until the world fell to it's knees.
Major league oil men Bush and Cheney did nothing, said nothing.
Read that, they did and said nothing.
High price fuel will now always be with us.

They looted our banks and retirement funds too.
They took it all, and charged us for oil until we and the whole world collapsed and imploded.

The Republicians ran the whole government for most of the past 8 years.
The blood on the streets is the same blood all over their hands and in their financial accounts.

I'm a hard core, right wing conservative Republican, and our party ripped off the world.
I hold them, that is, my political party accountable.

 

[SHAKE-YO-AZZ]

In all sincerity, Bush and Cheney thought when we entered Bagdad it would be like when we entered Paris in WW2 or Kuwait in Desert Storm.
People in the streets cheering us on, flowers, wine, naming their kids after our generals.

And then we'd pull out,, and,, Haliburton would just happen to be left behind.

Instead we have this awful war. The worst foreign policy disaster the USA has ever done.

I love my country.
I want my country to come home, take care of it's own, straighten out corrupt government.
Neither Obama nor McCain is up to the task.

Their isn't a dime worth of difference between the parties.
They are all out for themselves.

They raised the price of fuel until the world fell to it's knees.
Major league oil men Bush and Cheney did nothing, said nothing.
Read that, they did and said nothing.
High price fuel will now always be with us.

They looted our banks and retirement funds too.
They took it all, and charged us for oil until we and the whole world collapsed and imploded.

The Republicians ran the whole government for most of the past 8 years.
The blood on the streets is the same blood all over their hands and in their financial accounts.

I'm a hard core, right wing conservative Republican, and our party ripped off the world.
I hold them, that is, my political party accountable.

well said:beer

 

[zhandfull]

well said:beer

I'll 2nd that :beer

 

[Outnumbered]

Sorry, but I disagree. We have NOT run the show for 8 years. Don't throw the Republicans under the bus like the media does daily. Pelosi and her bunch have been in control for a good chunk of that time with moderate RINO Bush not exercising his veto power enough.

There are still plenty of good conservatives left. The problem is that the system is corrupt and moderates are posing as conservatives to get elected and then stabbing the voters in the back. We really need to hit the reset button and start over. The snowball has grown to massive proportions with no end in site. However, I don't think that has any chance of happening to we have to fix it slowly.

Since the real cure, electing a true conservative like Ron Paul or Pat Buchanan, obviously did not fly, we have to at least take things in the right direction. Even if it is voting the lesser of two evils. There is no way TPC that you can honestly say that Socialist Obama is an equal choice to moderate McCain. I feel and share your frustration but I don't see any other option but McCain for conservative Republican voters like you and I.

We need a turn-over in the legislature too which is much more do-able given the approval rating of Congress is below Bush and has been for quite some time. They had their chance to "CHANGE" things and they did nothing. People are fed up with the liberal RINO Republicans and the Socialist Democrats and truly do want CHANGE but Nobama is not the Messiah as Rev. Wright calls him. He talks a good game but he is a Socialist.

Our system is no longer balanced as it was designed to be. It took about 70 years to get this bad and it will take longer than one or two election cycles to fix. McCain is at least a step in the right direction, although he is certainly not going to fix the problem in his term. On the other hand, if elected, Nobama will give Congress a free-pass to Socialize this country even more and that is damn scary.