Posted on 03/01/2016 6:09:09 AM PST by C19fan
This is from a speech he made to try to get the thing passed in 2006:
Mr. President, this week Fannie Mae’s regulator reported that 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 Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
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. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole. I urge my colleagues to support swift action on this GSE reform legislation.
Don't get me wrong -- I'm not a McCain fan. It's probably worse to have come up with that bill and let the country elect a moron who refused to support it, than to not have come up with the bill at all.
But I'll never forget that. Guy had a rock-solid, substantive campaign issue that may really have resonated, and he did nothing with it other than make one tiny mention of it in a debate. Ridiculous.
But if he wants everyone to hear the tape, he can do it simply by asking that it be released.
“Full-throated propagandists.”
____________________
Have to go with: Full-throated insane propagandists.
I don’t think that Sessions is a prostitute, just a fool.
They went all Glenn Beck/red state/megyn on him. Good to know who our traitors are.They are worse than dems, and we won’t forget.
Exactly. They will not be missed.
Anyone who calls Senator Sessions a Prostitute is pond scum. And that includes some posters on here.
It is NR who is the “Prostitute”. They are prostitutes for Rubio, Kasich, the Bushes & the rest of the establishment.
No true conservative gives NR any credibility anymore.
Senator Sessions is a much better man than you could ever hope to be.
You aren’t worthy to shine his shoes.
No, what you’re saying makes sense. I agree.
Why he didn’t pound it in like you say, only John knows.
He and the newspaper had a verbal agreement that his comments would be off the record. I know you folks want blood, but it looks like you’ll have to look elsewhere.
I didn’t SAY he was the first one to fight it. I SAID he was the one to get it LOUD and CLEAR in the primaries. It isn’t what the GOPe and Dems wanted.
Chris Wallace is correct. I have thought all along that NR was doing what would get them the most publicity and website visits.
Nothing Trump has said hasn’t been said before by Cruz. As I have said before — Trump was just noisier, cruder and got more press.
National Review can kiss my southern, Alabama, ass. Jeff Session is a southern gentleman. Compared to the commies and butt kissers in the congress, Senator Sessions is the only one that I have voted for since Ronald Reagan that I did not hold my nose and vote for. This morning when we went to vote, once again we were back to nose holding while voting. For our other senator, Shelby, for my congressman, Mike Rogers, I held my breath and nearly puked to vote for both of these RINOcrat republicans. Rogers talks a good story but does nothing. I don’t even know why we have him up there because he does nothing for us.
I had a subscription for about 6 issues and dumped it. That was years and years and years and years ago. Way back in the 1980s.
If they're rats for endorsing Trump and rats are supposed to abandon sinking ships what does that say for NR's anti-Trump cause and its prospects.
Tuttle should know by now that one doesn't want to publicly lose one's cool like this.
Such implosions only reflect poorly on oneself.
Maybe, maybe not. There may not be that many Democrats of that sort left in Massachusetts.
Crossover Democrats aren't going to be solid conservatives or they would never have become Democrats, but there is some conviction there. It's not just some liberal "Operation Chaos" designed to destroy the Republicans.
Still, I have to wonder. People say that Republicans keep losing because they don't attract Reagan Democrats. And the same people lose their cool about Democrats voting in Republican primaries. Could there be a contradiction there?
What if the Democrats likely to vote Republican really aren't going to be won over by Ted Cruz types? Outside of some states that go Republican anyway, most of the crossover votes Republicans attract aren't going to go to the most conservative candidates.
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