McCain was sounding the alarm bell in 2005. Why weren’t we listening?
Posted Monday, March 22, 2010 by admin
Remember in 2005 when McCain cosponsored legislation that would regulate ***** and Freddy’s mortgage buying requirements? Here’s the last paragraph of his announcement:
“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.” <===this was 2005!
McCain was sounding the alarm bell 3 years ago, but no one was listening.
The full announcement:
http://mccain.senate.gov/public/index.cf...
What was Obama doing while McCain was warning us about Freddy and *****? :
"Lehman Brothers’ collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs. A group called the center for responsive politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. Senators getting big Fannie and Freddie political bucks were democrats and number two is Senator Barack Obama."
In just four short years, Barack Obama has received more campaign money from ***** And Freddy than any other Senator except Chris Dodd, Chairman of the Senate Banking Committee, as reported by The Center for Responsive Politics, seen here at opensecrets:
http://www.opensecrets.org/news/2008/09/...
Opensecrets.org is the non-partisan Internet arm of The Center for Responsive Politics.
http://en.wikipedia.org/wiki/OpenSecrets...
Republicans have been leery of John McCain, but he got the surge right, back in 2003. Thank God the current administration finally listened to him. Once again, this time with the economy, McCain’s good judgment would have saved our ***** had we listened to him. John McCain blew the whistle on ***** and Freddy back in 2005, while Obama was getting his palm greased by the same group. There’s some good judgment you can believe in!
Because the people in charge of those dept’s were getting way too much money in kickbacks under the table so they looked the other way because they are political ******. Now, the people who did it made their money and left the gov’t to pick up the tab, which should have never happened.
thanks for knowing the facts….he knew and spoke about this in 2005 everybody forgets, and media does not want you to know….the issue is that Barney Frank and so many others are in it for themselves….this is what Palin is talking about….getting washington clean…in that happens…maybe things will turn around on their own….washington has just been sitting back and those involved (most) are taking advantage of the people with bush right there with them
Ron Paul mentioned this too… along with predicting the Russia v Georgia conflict. But many over look that too. In fact, Ron Paul has predicted more economic downfalls than any other limelight politician out there.
Where is his recognition on that?
Well, nowhere in your question could I find the words “Federal Reserve…” so… if this diatribe is supposed to be in regards to our current economic crisis, both you and Mr. McCain are WAY off the mark (not even close, in fact).
This problem is MUCH BIGGER than the “housing market.” That discussion is just a distraction from the real source of the crisis. The collapse of these firms is just a symptom of a deeper systematic problem, one with decades-old roots.
Ron Paul was warning people about the inevitability of an inflationary crisis way back in 2003, and HE was honest about the causes!
McCain and Obama both belong to the same globalists. They both bend over backwards avoid any mention of the Federal Reserve when discussing these issues.
Therefore, anyone who actually understands monetary theory and knows what’s happening cannot trust either one of them.
Take care.