I find it mind-boggling that the Republicans, and especially John McCain since he’s the one running for president, are being blamed by Obama and the media for what they themselves are responsible for and what John McCain and the Republicans tried to prevent in the first place. And it’s not like there’s not more than sufficient evidence to substantiate John McCain’s position and his efforts. Take for exampe the letter in the extended post and at Human Events demanding regulatory action on Fannie Mae and Freddie Mac.
Human Events offers this introduction: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...
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… the government was forced to take over mortgage giants Fannie Mae and Freddie Mac and … hard hit by the meltdown in risky, subprime mortgages made to people with tarnished credit …
Original post: Washington: US Unveils Plan to Rescue Citigroup
a2a_linkname="Washington: US Unveils [...]... more
How good intentions of home ownership for almost everyone, establishing zero down payments, sub-prime interest rates, blocking of inquiries re income, then government guaranteeing of loans, resulted in the inverting of risk-reward credo, then investment “packaging” of riskiest loans into high return investments, widespread to investment houses, and insurances companies, and lack of oversight of Fannie Mae and Freddy Mac, set up a hair-trigger situation - the first small downturn in ... more
U.S. Rethinking Roles of Fannie, Freddie - Smart Money NEW YORK (Dow Jones) — America’s $11 trillion home-mortgage market is heading for a makeover. Mortgage lending in the U.S. relies heavily on institutions set up in the 1930s by politicians and government officials seeking remedies for the Great
Freddie Mac Increases Support for Ailing Home Loan Market - Washington Post Freddie Mac increased its support for the nation’s ailing home loan market in October, in part p... more
How can we reduce risk for individuals? That’s a natural question when a financial crisis has vaporized trillions of dollars of personal wealth in residential real estate and financial instruments. The problem is, when you try to reduce risk for individuals too much, you end up making things much riskier.
By Michael Barone
The Washington Times
Case in point: The financial system over the last decade. Our current difficulties arose from “the idea,” as Nicole Gelinas descri... more
By Katy Stech
The Post and Courier
Monday, December 1, 2008
Two top groups that insure home mortgages are trying to shed their Scrooge-like reputations during the holiday season.
Fannie Mae and Freddie Mac , government-sponsored enterprises that back the bulk of U.S. mortgages, recently announced plans to suspend foreclosure proceedings and evictions between Nov. 26 and Jan. 9.
The move gives troubled homeowners more time to sign up for a government program that could ma... more
Democrats may tax health benefits - The Boston Globe WASHINGTON - In the last month of the presidential campaign, it was one of Barack Obama and Joe Biden’s strongest attack lines: John McCain, they warned, would “tax your healthcare benefits for the first time ever.”But now, some Congressional Democrats in charge of health reform are talking about doing just that. ... more
http://dagnyd.net/vichy.htm
Welcome to Vichy America
This was not just another election. The last time we had a presidential election, the Left tried to get a brazen traitor elected - namely John Kerry. This new President from the Left is even more than that. Obama was no traitor, because he never was really on our side in the first place. Obama was really a foreign candidate - in spirit, funding, and citizenship.
Written by Dagny D’Anconia
Friday, 28 November 2008
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Out in California, they recalled 143 million pounds of tainted beef. That’s one triple-stacked burger at Wendy’s. A hundred forty three million pounds of tainted beef! I believe that’s the largest amount of tainted meat since Roger Clemens.”
-David Letterman
“John McCain seems reinvigorated. He has a new campaign slogan, ‘he’ll lead you into the 21st century.’ [...]... more
Quick! Point out Kenya on a map. No, not Kentucky, Cancun or Kathmandu, but Kenya, ancestral home of Barack Hussein Obama Sr., father of the president-elect of the United States. ... more
Chutz-pah (Also, chutzpah, hutzpa, hutzpah.) -noun Slang.
1. The Obama campaign, trying to sell the most inexperienced and unqualified presidential candidate of a major party in history, pointing to the inexperience of Gov. Sarah Palin of Alaska .
2. unmitigated effrontery or impudence; gall.
3. audacity; nerve. Old-Style Politics Or The New Politics Of Reform And Change?
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As Mike in Iraq talked about here , Obama has a long history of associations with shady characters, communists, etc., so who, if anyone, vetted Obama?
Given the Democrats sudden infatuation with the vetting process, it is, after all, a damned fair question, is it not? ... more
Just now on CNN - Jack Cafferty quotes a false AP story about Sarah Palin and suggests she should be replace; Wolf Blitzer tells Glen Beck, after Beck compliments him for his "fairness" over the years and says he can trust Blitzer to be fair on reporting on Sarah Palin. Wolf Blitzer’s response? He actually tells Glen Beck that "we are desperately ’struggling’ to be fair"
"Desperately ’struggling to be fair’"? And CNN actually claims to be a "news" organization? ... more
Ouch! Megyn Kelly body slams Bradley Jacobs, US Weekly Senior Editor, for unfair coverage of Sarah Palin.
HT : Hotair ... more
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