Posted on 10/12/2008 12:35:58 AM PDT by BamaFan
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.
freddie/fannie, as private/public hybrids, are fundamentally flawed by design and I don’t think they could be regulated effectively. they need to be wiped off completely.
he’s already pushed this angle in the debates. THE MSM won’t bite.
we have to all align and push on the ACORN/OBAMA link. THE MSM is already covering the ACORN piece, we just now have to link to OBAMA.
Yea, try getting the MSM to mention that letter more then a 1 sec soundbite at 4am.
http://www.freerepublic.com/focus/f-news/2103612/posts
Good news over here, nuclear assault on Obama, up to 400 Million to be spent by the time the election gets here.
Roll Tide!
“regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis”
From what I’m reading, nothing could have prevented it.
The headline is in poor taste.
But good info.
Article headline is: McCain Letter Demanded 2006 Action on Fannie and Freddie
Why this didn’t come out before!
It’s still time!!
McCAIN should be the first to know...
This would have been great 3 or 4 weeks ago.
But the McCain campaign has been too incompetent.
It’s too late now, McCain’s seemingly clueless bumbling has ceded the economy to 0bama as an issue.
It’s way way too late for McCain to make a second first impression.
> This would have been great 3 or 4 weeks ago.
Doesn’t matter. Obama would just have rolled with the punch, saying that he issued a statement warning about Fannie etc. and no-one would bother to check on him.
bttt
I was talking about this with my nimrod brother-in-law and he asked me if McCain was such a leader, why couldn’t he get Senators Frist or Shelby to act on this - members of his own party.
I have tried to see if action on this was blocked by Democrats, but I don’t really know much more about why this didn’t go anywhere with the Republicans controlling the Senate at the time.
Has anyone seen any more background on this?
Thanks
Report on FNC last night said Senate dems blocked action on the floor at that time. Committee votes were straight party line.
There is still time to get the public to see this telling document. McCain can post in on his website but, more importantly, he can hold up the document up at the last debate. The topic will definitely come up.
“My friends, this economical crisis, the worse threat our country has ever faced in it’s history, could have been avoided years ago. This document shows that no democrat signed this including my opponent, Barrack Obama”.
“I have posted this on my website but for some of you who are not inclined to visit my website, volunteers are going to be posted outside with copies of this document for you to see for yourself”.
“I urge you to see the truth through the fog”.
You could hand McCain authentic video of Obama in bed with a live boy and a dead girl and McCain would not use it. He’s too busy reading love notes to Obama to take off the gloves and fight.
It’s about McCain showing he knew what was going on and had the right ideas, not punching 0bama.
The smoking gun - McCain should said this.
McCain: Socialism has caused the economic crisis. Socialism has failed in America.
Democrats are want higher taxes on individuals and business than the Chinese Communists!
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