McCain was aware of Fannie/Freddie problem in 2006

www.govtrack.us ^ | blh

[blhblhblh]

McCain was pushing for Fannie/Freddie regulation back in 2006, while the O was out giving campaign speeches.

This strikes me as a pretty big deal. Obama is ridiculing the idea of Mc regulating this mess, and in fact Mc saw the problem in 2006 (maybe earlier).

Meanwhile, O has 2 former CEO of Fannie/Freddie as economic advisors, and is a major recipient of campaign contributions

[Rick_Michael]

Someone tell McCain to run this in Ads....like now!

[gbaker]

Remember the great undecided don't pat attention till a few weeks prior. I'm sure McCain has several YouTube / commercials ready for release at the right time.

[cgk]

BTTT. I heard Michael Reagan talking about this on his radio show last night on Sirius... and he also told his listeners if they wanted to read about it and see for themselves to go FreeRepublic.com.

[Arthur Wildfire! March]

Yep. McCain was just being humble when he said he doesn’t know much about the economy. He clearly has more foresight than he let on.

I happen to like people with a meek side, people who are more than they make themselves out to be [refreshing in politics].

[iopscusa]

Mark Levin talked about McCain’s attempt to reform Fannie/Freddie the other night...also the Heritage Foundation has been all over this Fannie/Freddie political cesspool...

[SuperSonic]

How much of a problem is this for McCain? Does this neutralize his ability to go after Obama?

[JEH_Boston]

If these were solely for the 2008 election, it appears that there will not be a very good return on investment.

Trying to buy influence is one thing, but actually getting the influence is far different.

[S.O.L.]

Yes, but why the “F” isn’t the McCain campaign using these facts?

[dfwgator]

Yes, but why the “F” isn’t the McCain campaign using these facts?

You know that old saying about when you point your finger, three fingers point back at you?

Senators are poor Presidential candidates for precisely this reason.

[VRWCmember]

I notice that back then McCain was not in favor of abolishing government interference in these entities, but was in favor of more ‘regulation’ just like the other day he slams wall street for ‘greed’.

He was in favor of transferring the regulatory authority from a congressional agency that was rubber-stamping everything Fanny and Freddy did to an agency within the Treasury department that would actually apply banking regulation standards to these two entities. He was for reforming the regulatory environment to rein in the excesses and abuses that were going on at Fanny and Freddy. Conservatism does not equal the total absence of regulation, and neither does freedom.

[Spunky]

Do you know if President Bush’s oversight plan was emplemented?

[TADSLOS]

You know that old saying about when you point your finger, three fingers point back at you?

Senators are poor Presidential candidates for precisely this reason.

Yeah, McCain still has a Phil Gramm problem to contend with. He isn't clean on this by a long shot.

[Eva]

The bill says it was 2005 that it was proposed, but I see that you mentioned that earlier.

I’m not sure what type of regulation the bill advocated, an investigation would have been a better move.

[rivercat]

Nope. There wasn’t enough support to get a vote on it in the congress.

[WOSG]

So the NEW YORK TIMES selectively picks one set of contributors and ignores the Open secrets full list?!?

http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html

What about Fannie Mae ex-CEOs Jim Johnson and Frank Raines?
Obama bundlers, supporters, and ADVISORS! Obama is up to his neck in Fannie Mae connections and the NYTimes is so in the tank they are not credible at all:

http://travismonitor.blogspot.com/2008/09/obama-senator-from-fannie-mae.html

[WOSG]

‘cept Phil Gramm has nothing to do with this. Gramm had nothing to do with Fannie Mae, nothing to do with credit derivative swaps.

All Gramm is, is the closest whipping boy the liberals can find to cover up the fact that the DEMOCRATS are the ones up to their neck in Countrywide, Fannie Mae, and lehman (Soros/obama) links!

The liberals can do that 3 fingers thing all day.
Here are the three fingers pointing back to Obama:
Gorelick, Raines, and Johnson.

He’s the Senator from Fannie Mae:
http://travismonitor.blogspot.com/2008/09/obama-senator-from-fannie-mae.html

[WOSG]

Uh, we are paying a price today of $250 billion because the Fannie Mae’s and Countrywides of the world didnt know how to properly value these toxic junk on their books and created them as a way to hand out cheap, subprime loans that should never have been written.

If we listened to John McCain, the regs on these companies would be a bit tighter but not onerous (it would only stop them from doing stupid and risky loans) and the taxpayer would be a lot better off. by about $300 billion.

I think you need to look at the facts before knee-jerking that you know his reforms would be bad. In fact, McCain was as right on this matter as he was on the surge and Iraq!!

[ConservChristian]

Why have we heard NOTHING about this in the media? Sean? Rush? Have I just missed it? Seems to me this single piece of legislation and McCain’s warning comments should be the first talking point of every conservative.

[traviskicks]

I think McCain has a track record of being wrong on domestic policy and wrong on foreign policy. Booms and busts cycles are a natural cycle of a free economy. Stagnation without booms or busts, but a slow downward trickle is the economy of socialim and permeate the ideas of the semi-socialists like McCain.