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HolmeZz
09-25-2008, 01:02 PM
He's had his surrogates out today saying the bill was dead yesterday until McCain suspended his campaign.

Unbelievable. Who falls for this garbage? Who didn't see this coming?

SBK
09-25-2008, 01:03 PM
McCain can hand out money the way Obama can push back the waves.

'Hamas' Jenkins
09-25-2008, 01:07 PM
He just put himself up on a tee for Obama to smack 410 feet to left center.

Obama can simply say this:

"John McCain said yesterday he was suspending his presidential campaign in order to go to Washington to work on the bailout package. In reality, he used the bailout as a political stunt in order to gain attention to his own faltering campaign. He's now taking credit for a measure that he had no involvement in designing or advocating. That isn't putting country first. That's putting yourself before the country. That's politics as usual. That's John McCain."

BigCatDaddy
09-25-2008, 01:09 PM
Sounds like they didn't want to see John McCain coming in to kick ass and take names.

SNR
09-25-2008, 01:11 PM
I might like McCain if he suspended his campaign to FIGHT the bailout bill...

Ari Chi3fs
09-25-2008, 01:13 PM
Yeah, but if you saw the Letterman show, you saw that he wasn't in Washington at all, but getting $5000 makeup put on, before his interview with Katie Couric.

Donger
09-25-2008, 01:15 PM
He's had his surrogates out today saying the bill was dead yesterday until McCain suspended his campaign.

Unbelievable. Who falls for this garbage? Who didn't see this coming?

Could you provide some examples please?

Fish
09-25-2008, 01:15 PM
But Katie....

He's also known as the maverick, though.

HolmeZz
09-25-2008, 01:19 PM
Could you provide some examples please?

I just quoted Tucker Bounds for you. He said the bailout bill was dead until McCain suspended his campaign.

He just put himself up on a tee for Obama to smack 410 feet to left center.

Obama can simply say this:

"John McCain said yesterday he was suspending his presidential campaign in order to go to Washington to work on the bailout package. In reality, he used the bailout as a political stunt in order to gain attention to his own faltering campaign. He's now taking credit for a measure that he had no involvement in designing or advocating. That isn't putting country first. That's putting yourself before the country. That's politics as usual. That's John McCain."

I prefer:

"Folks, John McCain thinks you're stupid."

Donger
09-25-2008, 01:20 PM
I just quoted Tucker Bounds for you. He said the bailout bill was dead until McCain suspended his campaign.

Do you have a link to the quote?

HolmeZz
09-25-2008, 01:21 PM
Do you have a link to the quote?

You want me to link to an appearance Bounds just made on MSNBC with Andrea Mitchell? Really?

chasedude
09-25-2008, 01:23 PM
Don't forget it was the greed of his constituents that created this fiasco.

PRIEST
09-25-2008, 01:25 PM
I just quoted Tucker Bounds for you. He said the bailout bill was dead until McCain suspended his campaign.



I prefer:

"Folks, John McCain thinks you're stupid."




ROFL nice

Taco John
09-25-2008, 01:27 PM
Do you have a link to the quote?



Do only some of us have easy access to Google or something?

Donger
09-25-2008, 01:29 PM
You want me to link to an appearance Bounds just made on MSNBC with Andrea Mitchell? Really?

Yes, that would be nice.

StcChief
09-25-2008, 01:32 PM
McCain can hand out money the way Obama can push back the waves.wait I thought Barry walked on top of water?

HolmeZz
09-25-2008, 01:34 PM
Yes, that would be nice.

It would be lovely. However that won't be possible for at least a few hours.

Why are you pretending as if you care about Tucker Bounds saying McCain is responsible for the bill getting done?

Donger
09-25-2008, 01:40 PM
It would be lovely. However that won't be possible for at least a few hours.

Why are you pretending as if you care about Tucker Bounds saying McCain is responsible for the bill getting done?

Which is it?

"He said the bailout bill was dead until McCain suspended his campaign."

Now you throw out the one above?

Garcia Bronco
09-25-2008, 01:44 PM
I am glad to see McCain got results. Very Presidential. Maybe I'll vote for him now.

Pitt Gorilla
09-25-2008, 01:47 PM
I am glad to see McCain got results. Very Presidential. Maybe I'll vote for him now.ROFL Nice.

HolmeZz
09-25-2008, 01:51 PM
Which is it?

"He said the bailout bill was dead until McCain suspended his campaign."

Now you throw out the one above?

Are you a ******ing monkey?

How is Tucker Bounds saying the bill was dead until McCain suspended his campaign NOT insinuating that McCain is responsible for the bill getting done?

Donger
09-25-2008, 01:53 PM
Are you a ******ing monkey?

How is Tucker Bounds saying the bill was dead until McCain suspended his campaign NOT insinuating that McCain is responsible for the bill getting done?

I'd like to see/hear his actual words, that's all. The fact remains that the bailout did appear to be stalled. Now it isn't.

Garcia Bronco
09-25-2008, 01:53 PM
Are you a ******ing monkey?

How is Tucker Bounds saying the bill was dead until McCain suspended his campaign NOT insinuating that McCain is responsible for the bill getting done?


I don't think we need the racial slurs here. Take that crap some place else.

HolmeZz
09-25-2008, 01:55 PM
I'd like to see/hear his actual words, that's all. The fact remains that the bailout did appear to be stalled. Now it isn't.

The only people who insinuated the bill was stalled yesterday was the McCain campaign. You had Dems and Republicans saying yesterday they were coming together before McCain even went out and suspended his campaign.

The fact that you're trying to rationalize the possibility that McCain actually had something to do with the bill is hilarious. You can't possibly be that gullible. Roy? Sure. Not you. You're the kind of cynic who preys on the stupid.

Donger
09-25-2008, 02:02 PM
The only people who insinuated the bill was stalled yesterday was the McCain campaign. You had Dems and Republicans saying yesterday they were coming together before McCain even went out and suspended his campaign.

The fact that you're trying to rationalize the possibility that McCain actually had something to do with the bill is hilarious. You can't possibly be that gullible. Roy? Sure. Not you. You're the kind of cynic who preys on the stupid.

Huh? Many folks were saying that the bailout was stalled, Democrats included.

Pitt Gorilla
09-25-2008, 02:06 PM
Huh? Many folks were saying that the bailout was stalled, Democrats included.Link?

dirk digler
09-25-2008, 02:07 PM
I'd like to see/hear his actual words, that's all. The fact remains that the bailout did appear to be stalled. Now it isn't.

They were saying last night that the deal was 98% done according to Pelosi and Boehner

beer bacon
09-25-2008, 02:08 PM
John McCain is the man behind this bailout. Just like he was the man behind the Savings and Loan fiasco. Go McCain!!

Donger
09-25-2008, 02:08 PM
Link?

http://www.huffingtonpost.com/2008/09/22/not-so-fast-democrats-say_n_128177.html

Democrats weren't going to get this done without their demands.

beer bacon
09-25-2008, 02:09 PM
This just in folks. A McCain spokesman has stated that the Sun will not rise tomorrow unless McCain personally goes to bat for planet Earth. We need you John McCain!!

The Rick
09-25-2008, 02:10 PM
Sounds like they didn't want to see John McCain coming in to kick ass and take names.
:clap:

HolmeZz
09-25-2008, 02:11 PM
http://www.huffingtonpost.com/2008/09/22/not-so-fast-democrats-say_n_128177.html

Democrats weren't going to get this done without their demands.

That article is from the 21st/22nd. Yesterday was the 24th. Who said the bill had stalled yesterday?

HolmeZz
09-25-2008, 02:12 PM
:clap:

You're kidding, right?

WilliamTheIrish
09-25-2008, 02:13 PM
Sadly, he's not kidding at all.

The "That" Rick

beer bacon
09-25-2008, 02:13 PM
Yes, the lawmakers that had been debating and negotiating this for a week finally decided to get things done after some old gold-digging asshole said he was making a stop off in Worshington after talking to Katy Couric and Rachael Ray.

Pitt Gorilla
09-25-2008, 02:13 PM
http://www.huffingtonpost.com/2008/09/22/not-so-fast-democrats-say_n_128177.html

Democrats weren't going to get this done without their demands.I don't see the "stalled" part and how McCain unstalled it.

Donger
09-25-2008, 02:16 PM
That article is from the 21st/22nd. Yesterday was the 24th. Who said the bill had stalled yesterday?

It seems like many Republicans were in opposition, sans a McCain vote in the affirmative.

HolmeZz
09-25-2008, 02:17 PM
It seems like many Republicans were in opposition, sans a McCain vote in the affirmative.

Who said the bill had been stalled yesterday?

Donger
09-25-2008, 02:18 PM
Who said the bill had been stalled yesterday?

Not me.

ROYC75
09-25-2008, 02:21 PM
The only people who insinuated the bill was stalled yesterday was the McCain campaign. You had Dems and Republicans saying yesterday they were coming together before McCain even went out and suspended his campaign.

The fact that you're trying to rationalize the possibility that McCain actually had something to do with the bill is hilarious. You can't possibly be that gullible. Roy? Sure. Not you. You're the kind of cynic who preys on the stupid.

Oh, nice dig, too bad you missed the boat on the stalled bill getting done.

You get Dingbat Award for the day ............

HolmeZz
09-25-2008, 02:21 PM
So why are you arguing against the fact that this bill was coming together before McCain tried to take credit for everything?

Donger
09-25-2008, 02:22 PM
So why are you arguing against the fact that this bill was coming together before McCain tried to take credit for everything?

I'm not. I haven't seen McCain try to take credit for it.

ROYC75
09-25-2008, 02:22 PM
Huh? Many folks were saying that the bailout was stalled, Democrats included.
I mentioned it yesterday cause CNN reported that it was around a 30 - 40 vote, mostly republicans were against it. Most democrats were on board with it.

chiefforlife
09-25-2008, 02:23 PM
I'd like to see/hear his actual words, that's all. The fact remains that the bailout did appear to be stalled. Now it isn't.

The TRUTH of the matter is...The bailout was stalled. Once Obama refused to postpone his campaign, the deal got done.

Very Presidential!

ROYC75
09-25-2008, 02:24 PM
So why are you arguing against the fact that this bill was coming together before McCain tried to take credit for everything?

The bill wasn't as of yesterday afternoon, one reason McCain pulled out. Reid was claiming it would come together, but most republicans were against it, according to a CNN report.

RaiderH8r
09-25-2008, 02:26 PM
Don't forget it was the greed of his constituents that created this fiasco.

Homeowners who didn't understand how a mortgage payment works?

J Diddy
09-25-2008, 02:28 PM
The bill wasn't as of yesterday afternoon, one reason McCain pulled out. Reid was claiming it would come together, but most republicans were against it, according to a CNN report.

So what did McCain do?

mlyonsd
09-25-2008, 02:30 PM
So what did McCain do?

Threatened them with the thought of that Ben Gay smell on the Senate floor.

And the Brach's Butterscotch's he likes to pull out of his pant's pockets.

ROYC75
09-25-2008, 02:34 PM
So what did McCain do?

Probably wasted fuel for his jet to be honest. Reid and Pelosi wanted to get it done quick to keep McCain out of it. Politics as usual........:D

Look, I'm glad it is done, if it is....... Now is it the right approach as they say, time will tell.

J Diddy
09-25-2008, 02:37 PM
Probably wasted fuel for his jet to be honest. Reid and Pelosi wanted to get it done quick to keep McCain out of it. Politics as usual........:D

Look, I'm glad it is done, if it is....... Now is it the right approach as they say, time will tell.

Threatened them with the thought of that Ben Gay smell on the Senate floor.

And the Brach's Butterscotch's he likes to pull out of his pant's pockets.

I too am glad it's done, however I have one question: If he's not in that comittee what could he possibly have done at all to move this thing further along?

mlyonsd
09-25-2008, 02:39 PM
I too am glad it's done, however I have one question: If he's not in that comittee what could he possibly have done at all to move this thing further along?

I don't have a clue. I'm one that admitted it was a stunt from the very beginning.

Much like Obama giving speeches in Germany.

NewChief
09-25-2008, 02:40 PM
Congratulations Republicans. You've now officially made your play to corner the moron vote!

J Diddy
09-25-2008, 02:41 PM
I don't have a clue. I'm one that admitted it was a stunt from the very beginning.

Much like Obama giving speeches in Germany.

Fair enough. I think the stunt is gonna cause him mucho grief in the future. Plus, does he still want to postpone the debate or did he switch his campaign back on?

Calcountry
09-25-2008, 02:43 PM
This just in folks. A McCain spokesman has stated that the Sun will not rise tomorrow unless McCain personally goes to bat for planet Earth. We need you John McCain!!
No, that would be Obama.

mlyonsd
09-25-2008, 02:43 PM
Fair enough. I think the stunt is gonna cause him mucho grief in the future. Plus, does he still want to postpone the debate or did he switch his campaign back on?

First, there isn't anybody on this board that doesn't already know who they're going to vote for. The stunt was aimed at the public that doesn't talk politics on a daily basis. How the stunt plays to that jury is yet to be seen.

No idea about the debate. I'm going to a football game so I don't care.

Carlota69
09-25-2008, 02:46 PM
First, there isn't anybody on this board that doesn't already know who they're going to vote for. The stunt was aimed at the public that doesn't talk politics on a daily basis. How the stunt plays to that jury is yet to be seen.

No idea about the debate. I'm going to a football game so I don't care.

McCain camp is not committing to the debate even though a bailout has been agree upon. he's apparently waiting for Bush's approval on the agreement.

tiptap
09-25-2008, 02:50 PM
No, that would be Obama.

Obama just walks on water as the Messiah, McCain is in charge of the sun rising as the Old Man.

J Diddy
09-25-2008, 02:52 PM
First, there isn't anybody on this board that doesn't already know who they're going to vote for. The stunt was aimed at the public that doesn't talk politics on a daily basis. How the stunt plays to that jury is yet to be seen.

No idea about the debate. I'm going to a football game so I don't care.

Oh I was gonna vote McCain until he ditched Dave, nobody who ditches Letterman is worth a poo in my book.

J Diddy
09-25-2008, 02:53 PM
McCain camp is not committing to the debate even though a bailout has been agree upon. he's apparently waiting for Bush's approval on the agreement.

Who would look forward to an ass whipping of epic proportions? McCain's strength is not in debates.

mlyonsd
09-25-2008, 02:54 PM
Oh I was gonna vote McCain until he ditched Dave, nobody who ditches Letterman is worth a poo in my book.

Letterman sucks. Leno is the king. No wonder you're so confused and voting for Obama. ;)

ROYC75
09-25-2008, 02:54 PM
Oh I was gonna vote McCain until he ditched Dave, nobody who ditches Letterman is worth a poo in my book.


ROFL

J Diddy
09-25-2008, 02:57 PM
Letterman sucks. Leno is the king. No wonder you're so confused and voting for Obama. ;)

Every time i see Leno, I think of that cartoon my kids watch the fairly odd parents and this guy http://www.bbc.co.uk/ouch/images/features/nemo/chin_120x120.jpg

Dallas Chief
09-25-2008, 02:58 PM
I too am glad it's done, however I have one question: If he's not in that comittee what could he possibly have done at all to move this thing further along?

Isn't this just a little bit bigger than the committee level? I could be wrong but a Senator's job still is to represent his constituants, campaigning for Prez. or not. I sure would want mine there demanding to be heard on something as important as this. Didn't Mr. Obama head to Washington as well?

Amnorix
09-25-2008, 02:59 PM
No, that would be Obama.


Hey, nothing personal, but that is some really weak smack. You gotta pick up your game -- we're heading into the home stretch here.

:p

mlyonsd
09-25-2008, 03:00 PM
Isn't this just a little bit bigger than the committee level? I could be wrong but a Senator's job still is to represent his constituants, campaigning for Prez. or not. I sure would want mine there demanding to be heard on something as important as this. Didn't Mr. Obama head to Washington as well?

Mr. Bush is meeting with Obama and McCain as we speak.

Pitt Gorilla
09-25-2008, 03:03 PM
Letterman sucks. Leno is the king. No wonder you're so confused and voting for Obama. ;)Holy crap. All politics aside, such nonsense should never be written. Dave may have slipped over the past 15 years, but he's still light years ahead of Leno. If you can make it through a Leno monologue, you either have a higher tolerance for crap or don't know any better.

mlyonsd
09-25-2008, 03:05 PM
Holy crap. All politics aside, such nonsense should never be written. Dave may have slipped over the past 15 years, but he's still light years ahead of Leno. If you can make it through a Leno monologue, you either have a higher tolerance for crap or don't know any better.

Letterman makes my hair hurt. He's funny on occasion but Leno's monologue is way better.

I'd say you're the one that doesn't know your crap. :)

Dallas Chief
09-25-2008, 03:08 PM
Mr. Bush is meeting with Obama and McCain as we speak.

Gotcha, thanks!:thumb:

Hopefully these guys will get back to business soon. I am really enjoying this political season.

mlyonsd
09-25-2008, 03:14 PM
I still fail to find any quotes on the news wires of McCain taking credit for anything but maybe this guy might shed some light as to why McCain decided the job he was elected to was more important than campaigning.


"We hope to reach a bipartisan consensus in time for this afternoon's meeting at the White House, so Sen. McCain and President Bush can finally get to work on the job they've neglected thus far: delivering Republican votes," said Sen. Charles Schumer, D-N.Y.
http://money.cnn.com/2008/09/25/news/economy/deal_reached/index.htm?postversion=2008092513


Even top democrats see McCain as essential to the deal.

Pitt Gorilla
09-25-2008, 03:23 PM
Letterman makes my hair hurt. He's funny on occasion but Leno's monologue is way better.

I'd say you're the one that doesn't know your crap. :)Eh, I guess I just didn't realize that you're an octegenerian.

HolmeZz
09-25-2008, 03:28 PM
Leno sucks and he acts like a complete creep whenever he has some hot chick on as a guest.

BigCatDaddy
09-25-2008, 03:36 PM
Leno sucks and he acts like a complete creep whenever he has some hot chick on as a guest.

No one could hold the jock of one Arsenio Hall during a monologue.

J Diddy
09-25-2008, 03:37 PM
No one could hold the jock of one Arsenio Hall during a monologue.

the dog pound fo sho

Chiefs_Mike_Topeka
09-25-2008, 03:50 PM
First, there isn't anybody on this board that doesn't already know who they're going to vote for. The stunt was aimed at the public that doesn't talk politics on a daily basis. How the stunt plays to that jury is yet to be seen.

No idea about the debate. I'm going to a football game so I don't care.

I honestly have not decided who I am voting for.

penchief
09-25-2008, 04:27 PM
Hopefully these guys will get back to business soon. I am really enjoying this political season.

It's making me nauseous.

Mr. Kotter
09-25-2008, 04:36 PM
Letterman makes my hair hurt. He's funny on occasion but Leno's monologue is way better.

I'd say you're the one that doesn't know your crap. :)

Snapp! Wow, shocker. Gerry disagrees with your opinion of Letterman, and he laucheds into his indignation. I don't care for either anymore....Letterman's just gone off the deep-end though, and it wasn't a far distance to go in the first place.

'Hamas' Jenkins
09-25-2008, 04:53 PM
Leno funnier than Letterman??

ROFL

I'm sure that has nothing to do with his political bent.

Mr. Kotter
09-25-2008, 04:59 PM
Leno funnier than Letterman??

ROFL

I'm sure that has nothing to do with his political bent.


I think it has less to do with political bent, than Dave's increasingly bizarre antics and weirdnesses. I still think he's funny on occasion, personally though, I like Leno more--he's more consistent, less strange/off-the-deep-end. But, hey, it's JMHO. It just doesn't surprise me that Gerry would prefer Dave is all. Maybe that has to do with political bent, though. Heh.

Dallas Chief
09-25-2008, 05:06 PM
It's making me nauseous.

Really? I am digging all of the TV coverage and this one slinging poo at that one. The stupid ads that cause me to ROFL! Seriously. You can't make this stuff up. That's how good it's been. I sooo can't wait for the other foot to drop on one of these two. You just know it is going to be something good and juicy. Just like in Primary Colors. Someone has a picture of Barry doing some blow or Johnny Mac with a Vietnamese prostitute. Makes for great TV, man!

But on a serious note, what I really like is to see people get amped up about the process. Just like around here. People get so up in arms and so defensive when it comes to their candidate. Makes me feel all American and shizz! I lived in Minnesota during the last General Elction and driving to work on election day I saw people everywhere at street corners pimping their guy. Standing out there in the cold all day. One corner was Kerry the other was Bush at almost every major intersection. No matter the affiliation, you gotta admire the spirit and dedication that takes. Hell- it wasn't even a battleground state, it was solid for Kerry. Didn't matter to either side, folks were still trying to make a difference. Ever since then, I've been really into it.

Chief Henry
09-25-2008, 05:07 PM
Homeowners who didn't understand how a mortgage payment works?

Those mortgages were bundled togeather by banks and sold to Fannie-Freddie. Then Fannie-Freddie bundled them up to Investment Bankers like Leahman, M. Lynch, Bear Stearns and others. Those outfits then bundled them up and offered them up to the general public and mutal funds. Then Kaboom.

Fannie and Freddie were providing cover to the banks. Those banks offered people with shit for income the mortgages.

Zero down, interest only payments for 2 years....sign me up for the free cheese man , you mean I get a house too, hell - sign me up !!!


Now Fannie's ex executive director Franklyn Raines receives dam near $100,000 per month in the form of a pension. Its unbeleavable

The liberal idea of people not paying off there mortages has
"COME HOME TO ROOST" .

Ultra Peanut
09-25-2008, 05:43 PM
"Well, I'm going to suspend my campaign to hammer this out."

http://www.politico.com/blogs/jonathanmartin/0908/McCain_to_do_round_of_network_interviews_tonight.html

September 25, 2008
McCain to do round of network interviews tonight

John McCain will appear on all three network newscasts tonight, a top aide said.

McCain is at the White House meeting with President Bush, Barack Obama and congressional leaders now and will tape interviews with NBC, ABC and CBS after the West Wing session.

McCain also appeared in a taped interview last night with Katie Couric on CBS.

Aides are still in wait-and-see mode on whether they'll attend the debate, but are prepared to have the candidate jet down to Memphis, the closest major airport to Oxford, as late as tomorrow afternoon if a deal is reached.

whoman69
09-25-2008, 06:07 PM
McCain camp is not committing to the debate even though a bailout has been agree upon. he's apparently waiting for Bush's approval on the agreement.

Gotta have a word from his mentor.

VAChief
09-25-2008, 06:27 PM
Gotta have a word from his mentor.

ROFL

penchief
09-26-2008, 08:19 AM
Really? I am digging all of the TV coverage and this one slinging poo at that one. The stupid ads that cause me to ROFL! Seriously. You can't make this stuff up. That's how good it's been. I sooo can't wait for the other foot to drop on one of these two. You just know it is going to be something good and juicy. Just like in Primary Colors. Someone has a picture of Barry doing some blow or Johnny Mac with a Vietnamese prostitute. Makes for great TV, man!

But on a serious note, what I really like is to see people get amped up about the process. Just like around here. People get so up in arms and so defensive when it comes to their candidate. Makes me feel all American and shizz! I lived in Minnesota during the last General Elction and driving to work on election day I saw people everywhere at street corners pimping their guy. Standing out there in the cold all day. One corner was Kerry the other was Bush at almost every major intersection. No matter the affiliation, you gotta admire the spirit and dedication that takes. Hell- it wasn't even a battleground state, it was solid for Kerry. Didn't matter to either side, folks were still trying to make a difference. Ever since then, I've been really into it.

I might tend to agree with you if so much wasn't at stake and so little respect for the process is being shown. Everything about the process continues to deteriorate. I thought it was impossible that it could get any worse than the swiftboat campaign that took place in 2004. But I was wrong.

People will accept anything they are told even in the face of what they know to be true. Not only will they accept lies, they will perpetuate them. They celebrate beligerence and deride dignified behavior. It's like the Fox News/WWF mentality has won out over reason and honor.

LOCOChief
09-26-2008, 08:31 AM
New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By Stephen Labaton

September 11, 2003

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

”There is a general recognition that the supervisory system for housing-related government-sponsored enterprises neither has the tools, nor the stature, to deal effectively with the current size, complexity and importance of these enterprises,” Treasury Secretary John W. Snow told the House Financial Services Committee in an appearance with Housing Secretary Mel Martinez, who also backed the plan.

Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing. ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” Representative Melvin L. Watt, Democrat of North Carolina, agreed. ”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.

And it is more than a little disturbing that there was no mention of John McCain’s words before congress in 2006:

Federal Housing Enterprise Regulatory Reform Act of 2005

The United States Senate May 25, 2006 Sen. John McCain [R-AZ]: 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.


Dumb ass libs, you'll break this country.

LOCOChief
09-26-2008, 08:40 AM
I've been in banking for over 20 years, (and I'm not a teller you dumb ass libs) We didn't see the reduced doc, no doc, stated doc and 100% to 103% LTV's until the Clinton admin. I would never put such loans on my portfolio and I haven't. I'll sell that crap on the secondary market. As a result those lenders that I packaged and sold those loans to on on their last legs and by bank, well my bank is one of 4 banks in SW FL that recorded profits for the 1st two quarters of this year and we will for the third as well. At the same time we have put aside money for a loan loss reserve in the event that we have any forclosures. The Dems are lying and you fuggin libs are buyin it.

mlyonsd
09-26-2008, 08:42 AM
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” Representative Melvin L. Watt, Democrat of North Carolina, agreed. ”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.



Brilliant.

tiptap
09-26-2008, 08:46 AM
In 2003 the House and the Senate was held by the Republicans. They controlled the agenda. It was a political talking point then and is a talking point now. And it misses all the other debt involved not related directly to these mortgages that represents the excesses.

tiptap
09-26-2008, 08:52 AM
I've been in banking for over 20 years, (and I'm not a teller you dumb ass libs) We didn't see the reduced doc, no doc, stated doc and 100% to 103% LTV's until the Clinton admin. I would never put such loans on my portfolio and I haven't. I'll sell that crap on the secondary market. As a result those lenders that I packaged and sold those loans to on on their last legs and by bank, well my bank is one of 4 banks in SW FL that recorded profits for the 1st two quarters of this year and we will for the third as well. At the same time we have put aside money for a loan loss reserve in the event that we have any forclosures. The Dems are lying and you fuggin libs are buyin it.

Did this trend increase or decrease during the Bush administration? You can have a tool that helps (get new people into homes) and a tool that can be abused. When did the balloon get too big? I state if the Bush Administration didn't want to fund a trillion dollar war it would not have turned a blind eye to the economy. It needed this growth to allow its tax cuts and funding of the war. It was complicit.

Mecca
09-26-2008, 08:53 AM
Did this trend increase or decrease during the Bush administration? You can have a tool that helps (get new people into homes) and a tool that can be abused. When did the balloon get too big? I state if the Bush Administration didn't want to fund a trillion dollar war it would not have turned a blind eye to the economy. It needed this growth to allow its tax cuts and funding of the war. It was complicit.

Shhh, that makes way to much sense.....But I'm sure his reply will have something to do with you being a dumbass lib.

Amnorix
09-26-2008, 12:25 PM
I'd like to see/hear his actual words, that's all. The fact remains that the bailout did appear to be stalled. Now it isn't.


Would you like to revisit your position?

Donger
09-26-2008, 12:29 PM
Would you like to revisit your position?

The conservative in me is somewhat glad that the Republicans are actually fighting this a little bit.

penchief
09-26-2008, 02:02 PM
The conservative in me is somewhat glad that the Republicans are actually fighting this a little bit.

They're not doing anything different than what the democrats were doinig. All they're saying is exactly what the dems were saying (except for the "free enterprise" talking points). Which is that there needs to be taxpayer protections, homeowner protections, oversight, and limiting golden parachutes.

All they're doing now is trying to make it seem like they're the ones protecting the taxpayers when most republicans were more willing than most democrats to go along with the original Paulson Plan. Which is why their early talking point was that the dem congress needs to pass the bailout quick.

Once the republicans realized that they missed the boat on the public's concerns they weren't about to let the dems get all the credit for putting the brakes on the rush to bailout Wall Street. No, they needed to pull a PR stunt of their own to make it seem like they were protecting the public from the democrats plan.

When in reality the plan that finally gets adopted probably won't be much different than the one the democrats and republicans in the senate and the administration has already agreed upon.

IMO, republicans are acting like shameless sharletons.

The Rick
09-26-2008, 02:15 PM
Sounds like they didn't want to see John McCain coming in to kick ass and take names.

:clap:

You're kidding, right?

Sadly, he's not kidding at all.

The "That" Rick
No, I was kidding. I may be voting for McCain, but I'm not that dumb. I just thought it was a funny post. :)