Obama, McCain and FNMA Reform

Be careful of Obama's version of reform: SOCIALISM-----What you think of Socialism? If you're for it - vote Obama as he's your guy to take you there--------Greg----http://us.imdb.com/name/nm2734923/

if you traced today’s sub-prime crisis back to its origins, you would come upon the role of the Pritzkers and Superior Bank of Chicago.

Penny Pritzker Obama also fails to mention that one of the first subprime lenders to stick it to borrowers and have her bank seized is a woman named Penny Pritzker, who just happened to be Barack Obama’s campaign Finance Chair (as confirmed on April 3, 2008) and a potential Secretary of the Treasury in an Obama administration.
Good old PENNY PRITZKER? Remember her?

Barack Obama has dirty hands yet wants people to belive he is the ONE who is going to fix this mess???

Penny Pritzker
Lehman Brothers gave over $260,000.00
Fannie & Freddie
Countrywide
Goldman Sachs, which made $6 billion from devalued mortgage securities in the first nine months of 2007, is Obama’s top contributor.


Barack Obama has dirty hands

mccain talks thru his ass..he still thinks the economy is strong they forced him out again to clarify it won'r fly

The message regarding John McCain MUST get out.. The deregulation which in fact caused the current mortgage crisis can be directly tied to JOHN McCAIN's recently out of the limelight finance advisor Retired Sen Phil Gramm.

McCain, Gramm and the Commodity Futures Modernization Act

Gramm's long been a handmaiden to Big Finance. In the 1990s, as chairman of the Senate banking committee, he routinely turned down Securities and Exchange Commission chairman Arthur Levitt's requests for more money to police Wall Street

As Congress and the White House were hurriedly hammering out a $384-billion omnibus spending bill, Gramm slipped in a 262-page measure called the Commodity Futures Modernization Act.

Gramm's bill"which were supported by Fed chairman Alan Greenspan and Treasury secretary Larry Summers"a $62 trillion market (nearly four times the size of the entire US stock market) remained utterly unregulated, meaning no one made sure the banks and hedge funds had the assets to cover the losses they guaranteed." ( http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html )

"On July 18, 2008 Gramm stepped down from his position with the McCain campaign. However, he often accompanies McCain during the campaign, and continues to be an unofficial adviser on economic and financial matters. Senator Phil Gramm should be tried for treason.The reason fo the great depression 1929-thru '30s was unrestrained speculation in the stock market and deregulations on
the free market business fact that if unrestrained business will limit competion and manipulate prices untill the majority of people can't afford them.The reason for regulations
on business are in responce to depressions and recessions that cause great pain and
suffering on the people.Gramm was behind the Saving and Loan industry deregulation
during Bush 1 reign of terror.The catch phrase is business is unable to compete in the
global market, deregulate.Only Savings and Loan's could wite mortgages,not banks, and they were regulated because of the depression.That cost the tax payers 600 billion.
Gramm deregulated the business accounting practice that for the ENRON multi billion
fraud.His wife was on ENRON's board of directors that for Gramm's help.
Now we have the morgage loan crisis of Bush 2 which only one media voice compared
as the worst crisis in 19 years,but failed to remind us that was the Savings and Loan recession.Why did democrats and republican congress allow this to happen?Because
they represent corporations and not the people.Our democracy is as true as the degree
of representation.
and Phil Gramm?

U.S. Sen. John McCain's presidential campaign has faced no questions regarding a top economic adviser's work for Swiss banking giant UBS Warburg.

Economist and former U.S. Sen. Phil Gramm is vice chairman of UBS Investment Bank and has lobbied Congress on the company's behalf.

UBS has been hit hard by the U.S. housing and mortgage meltdowns. The investment banking and mortgage industry has lobbied for less regulation in past years and is worried about potential federal actions to address the housing subprime bust.

Arizona is one of the hot spots for the slow housing market and problems with subprime mortgages.

McCain counts Gramm as one of his top economic advisers. Gramm advocates tax cuts, supply-side economics and less government regulation.

Democrats point to Gramm's UBS ties as another example of McCain's links to lobbyists and the interests they represent.

Two of McCain's top campaign aides, Charlie Black and Rick Davis, have lobbying backgrounds. A handful of lobbyists working on the campaign have stepped down after facing questions about their representation of business interests and foreign governments.

The McCain camp and other Republicans counter that Democratic presidential campaigns also have lobbyists and former lobbyists working on their behalf, and that Gramm is one of a number of economic advisers to the Arizona Republican.

Other McCain economic advisers include former U.S. Rep. Jack Kemp, former Hewlett-Packard Co. CEO Carly Fiorina, private equity executive Gerry Parsky and Stanford University economist John Taylor.

Maybe we should ALL ask John Mc Cain where he has been for the past 8 years....Our economy has never been so bad. No Republican can blame this on OBAMA.....No FOX pseudo-journalist can blame this on Obama....They have ALL supported BUSH. Mc Cain has supported GW BUSH all the WAY, and the REPUBLICAN Party is now the PARTY who has put AMERICA in deep deep debt and into another DEPRESSION. Where is the FISCAL responsibility that they are always screaming about on FOX network??? Where are THEIR checks and balances? THE GOP HAS LEFT US ALL HIGH AND DRY - This is what you get when you put BUSH in OFFICE>

The Republican Party is now the irresponsible party. They are fiscally IRRESPONSIBLE and should all be voted out of OFFICE. Excuse me, but the Republicans have been running this show and are always playing the "blame" game. They have CREATED this mess while they all live the life of RILEY. Mc CAIN is NOT affected by our economy....he hates us. He is ARROGANT and out of touch.

We have gone from a NATION of WEALTH under Bill Clinton to a Nation of DEPRESSION & Mc Cain is PART OF THE PROBLEM. Mc Cain does NOT care about the AVERAGE AMERICAN...he will bleed you dry. His AGENDA is to get his friends RICH. If you think Mc CAIN cares about the MIDDLE Class, than you are ignorant. He left the MIDDLE Class when he Married Cindy Mc CAIN and her DADDY's money. Don't be a FOOL.

Mc CAIN hates UNIONS. He HATES the average American. Look how this guy VOTES.

OBAMA ONE WHO YOU SHOULD NOT TRUST,MCCAIN ONLY CHOICE HAVE,HILLARY WOULD BEEN RIGHT CHOICE,BUT IM NOT VOTING FOR OBAMA

It always happens every presidential election-the liberal media (this time without Danny Rather)tries it's best to twist the facts and wrap their lies in half truths so as to mislead the gullible. The wall street problems can be traced back to Bill Clinton. However, the truth is both parties have failed to serve the interests of the people. They have wasted this once great nation with their greed and never ending ear-marks and constant corruption. However, if we the people must be so stupid as to keep putting up with this "government" then the choice boils down to do I trust a damn muslim in the White House or do I take my chances with John McCain. The answer to that question is a no-brainer-that is for those of us that are able tlo discern the truth past all the liberal media lies.

How can someone take $865,000 from Fannie Mae and Freddie Mac, get their home loan at a discount from Countrywide, refuse to account for internet campaign contributions, etc, etc. expect to be elected President of the USA. Not by me! No Obama, No Way! Vote McCain/Palin

Did you guys read the article before posting. Obama was up to his eyeballs in this and you still support him. THE ONE most responsible DEMS and you still say McCain has no clue. He has a better clue than most of you and congrats to the professional posters here you are getting your money's worth or Obama the crook is. Nice try maybe if they miss the part about the bill to slow or stop this that came from McCain that Obama did nothing to help might work. I do not think so.

I agree. Obama has very dirty hands in the Fannie Mae/Freddie Mac fiasco. He is always talking about change and reform but when presented with an opportunity to do so by John McCain two years ago he passed on it. His reward for doing so was a large political contribution from these entities. Former CEOs of these groups are now advising and participating in his campaign. God help us if this man gets to be our president.

queenie8:25PMSep 17th 2008

mccain talks thru his ass..he still thinks the economy is strong they forced him out again to clarify it won'r fly
_________________________________

Our economy is so strong that it continues to absorb one blow after another after another. I'm not sure if it is Bush's policies that made it that way, or if America is just built that way, but my understanding is that other markets are suffering a lot worse than ours.

Gas prices - Liberal blocking of drilling / new refineries both past and present.

All current government bailouts have liberal origins dating back to the Clinton Administration. Fannie Mae higher ups were former Clinton people that now advise The Big O. They paid off and gave preferential treatment to their own knowing full well that if things went south before the election they could easily blame the sitting president. Sabotage was in their politically expedient best interest.

Katrina was clearly Mayor Nagin and Gov. Blanco screw up. Bush stepped up to the pump and said the buck stopped with him (to little appreciation), but even now with Ike, people were told to leave or face certain death. If they ignored the MANDATORY EVACUATION they were told "we will get to you when we get to you". Now they are bitching that help is not arriving fast enough for them. Some people truly are stupid.

These bailouts are crazy. I wonder who decides why Lehman's was not worthy of bailout, but AIG was? I wonder who is deciding to blast these bailouts through appropriations?

At one point in the past I failed to see the writing on the wall, my company went under and I lost my job, my house and a portion of my dignity. It was a huge lesson learned from the school of hard knocks.

Where was my bailout? My home was sold on the foreclosure market. Somebody made some bucks on that one. Three of my four cars were auctioned off. Somebody made a nice chunk of change on them. 22 horses hit the auction block. All of them sold for a song and somebody was dancing in cash.

With failure comes the creation of all kinds of opportunity; it's the story of the Phoenix. Just because a large number of people will lose doesn't make their situation any more worthy of a bailout than the single instance such that was mine. They will find new opportunity just like I did. Someone will make money off the houses, cars and personal property they lose.

These bailouts are a continued, behind the scenes, cigar parlor devil dealing between liberals and moderates. You cannot have a capitalistic approach to risk and a socialistic approach to loss; prudence goes right out the window.

Stop the bailouts! Push the reset button. Let Giants fall and those of us waiting in the wings create opportunities out of the fallout. Let Obama blame McCain and Bush. Let McCain blame Obama and the libs (and everybody else) AND LET THE CHIPS FALL WHERE THEY MAY!

In this situation there were Republicans and Democrats all over the place; where one was to blame, the other stood by and let it happen while we, the American taxpayer, lost EVERY TIME.

Conservatism says let the dust settle. New, more prudent winners will rise to the occasion. In the long run we will all be better off.

GE8:52PMSep 17th 2008

Maybe we should ALL ask John Mc Cain where he has been for the past 8 years.
________________________________

GE -

Didn't you read the above article?

To GE, Robin E. Oden, queenie:

Easy to blame it on Obama. Read the link of McCain's bill yourself.

Obama, Biden, Dodd, Pelosi and virtually every other democrat were against the bill sponsored by McCain to prevent this financial disaster back in 2006.

Remember to thank the democrats in November for screwing all of us.

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190

Deregulation of the banking industry is the reason we're in the financial mess we're in now. The Gramm-Leach-Bliley Act of 1999 repealed laws put in place after the Great Depression setting up protective barriers between commercial banks, investment banking firms, and insurance companies. The author of that act is Phil Gramm, who is John McCain's economic advisor and possible future head of the Treasury Department.

This is the same Phil Gramm who said, "We have become a nation of whiners."

This is also the Phil Gramm who is vice-chairman of UBS, the Swiss bank that is being investigated by the Senate for marketing tax-evasion strategies to wealthy Americans. The U.S. loses around $100 billion annually due to offshore tax-evasion.

Read this:

http://www.texasobserver.org/article.php?aid=2767

and this:

http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html

And after you've read them, tell all your friends and email them to everyone you know. If John McCain wins we're in serious trouble.

IMPORTANT!

If you are one of the many whose homes have been foreclosed upon, don't forget to update your address on your voter registration. Do it immediately! Otherwise, you will not be able to vote in November.

For those of you who know someone who has been foreclosed upon and had to move, pass the word along to them.

It is hard to believe that McCain said he was not as versed as he should be on the economy when he call this scenario before 2005. Maybe he was just being humble.

O-bots may think Obama is the Messiah, but could McCain be Nostradamus?

I wonder.

Deregulation of the banking industry is the reason we're in the financial mess we're in now. The Gramm-Leach-Bliley Act of 1999 repealed laws put in place after the Great Depression setting up protective barriers between commercial banks, investment banking firms, and insurance companies. The author of that act is Phil Gramm, who is John McCain's economic advisor and possible future head of the Treasury Department.

This is the same Phil Gramm who said, "We have become a nation of whiners."

This is also the Phil Gramm who is vice-chairman of UBS, the Swiss bank that is being investigated by the Senate for marketing tax-evasion strategies to wealthy Americans. The U.S. loses around $100 billion annually due to offshore tax-evasion.

Read this:

http://www.texasobserver.org/article.php?aid=2767

and this:

http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html

And after you've read them, tell all your friends and email them to everyone you know. If John McCain wins we're in serious trouble.

IMPORTANT!

If you are one of the many whose homes have been foreclosed upon, don't forget to update your address on your voter registration. Do it immediately! Otherwise, you will not be able to vote in November.

For those of you who know someone who has been foreclosed upon and had to move, pass the word along to them.

Deregulation of the banking industry is the reason we're in the financial mess we're in now. The Gramm-Leach-Bliley Act of 1999, authored by Phil Gramm, repealed laws put in place after the Great Depression setting up protective barriers between commercial banks, investment banking firms, and insurance companies.

And then in 2000, Gramm slipped the Commodity Futures Modernization Act into the omnibus spending bill, which weakened regulations against credit default swaps, financial products that allowed underfunded insurers to cover subprime mortgages. Banks felt that by passing the risk to insurers, they were safe, and so they gave out as many subprime mortgages that they could.

The author of those acts is Phil Gramm, who is John McCain's economic advisor and possible future head of the Treasury Department.

This is the same Phil Gramm who said, "We have become a nation of whiners."

This is also the Phil Gramm who is vice-chairman of UBS, the Swiss bank that is being investigated by the Senate for marketing tax-evasion strategies to wealthy Americans. The U.S. loses around $100 billion annually due to offshore tax-evasion.

Read this:

http://www.texasobserver.org/article.php?aid=2767

and this:

http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html

And after you've read them, tell all your friends and email them to everyone you know. If John McCain wins we're in serious trouble.

IMPORTANT!

If you are one of the many whose homes have been foreclosed upon, don't forget to update your address on your voter registration. Do it immediately! Otherwise, you will not be able to vote in November.

For those of you who know someone who has been foreclosed upon and had to move, pass the word along to them.

It's just like you sorry ass republicans to try and blame everything that's gone bad with the economy on democrats. Just like dumb and dumber that you put in office twice. Yes democrats in congress hold a one (1) person majority, but no one ever mentions that the other half are republicans, and the dumbest one of all repubs holds the veto pen. Now you want the counrty to elect Mr. Magoo and Barbie. YOU'VE GET TO BE JOKING.John Maccain can't even hold a coherent thought,and Palin sounds like a taped recording, repeating the same bulls--t over and over since the RNC convention. ENOUGH, the stakes are too high this time,and anyone that can't admit the truth about Maccain and Palin should be ashame of themselves and a disgrace to this country.

I am sorry to say that Obama is not the one to bring reform to the economy or anything else. John McCain is the candidate who has proven himself to be a reform minded, bipartisan maverick. I believe that I can trust McCain to bring the change to Washington that I can trust.

Obama's background is full of questionable associates. I just don't trust him.

Here is what we really need to know about Obama, the unvetted candidate for POTUS: Obama's connection to Saul Alinsky and his influence on Obama's political beliefs. Is this the change we can look forward to with an Obama administration?
.....................................................

Saul Alinsky’s son: “Obama learned his lesson well”
By Judi McLeod Tuesday, September 2, 2008

In Artful Dodger style, Barack Obama, plays down his mentorship with Communist author Saul Alinsky. But Alinsky’s son, L. David Alinsky, credits Obama for “learning his lesson well” from the Communist guru.

Indeed, Alinsky Jr. who credits his late father for the success of last week’s Democratic National Convention, may have done something that Obama’s detractors couldn’t: blown the cover on the presidential hopeful’s communist leanings.

Full article:
http://www.canadafreepress.com/index.php/article/4784

The question is: WHO IS BARACK HUSSEIN OBAMA?

The answer is: NOBODY KNOWS!

I'LL TAKE AN "AMERICAN HERO" OVER AN UNKNOWN "CELEBRITY BOY" ANY DAY.

OBAMA HAS TOLD TOO MANY LIES. WE STILL DON'T KNOW WHO HE IS. WHAT IF HE REALLY IS A CLOSET MUSLIM WHO WINDS UP IN THE WHITE HOUSE?

Personally I think it is very tacky to be complaining about the ecomony then turning around taking a plane to LA to the Beverly Wilshire to have a $28,500 a plate dinner, plus another $2,500 Streisand concert, when many people lost their jobs that day. It’s offensive to everyone that is struggling right now.

OBAMA BLOCKED REPORTERS AND MEDIA FROM THE EVENT!

REMEMBER SAN FRANCISCO? — The Junior Senator from Illinois tells “BITTER”, small-town, blue-collar, gun-toting, bible thumping Americans one thing, then goes to California and tells a different story to his elitist millionaire supporters.

Barack Hussein Obama is a three-year Junior Senator without a single important legislative achievement to his name, a former Illinois state senator who voted “present” nearly 130 times. I GUESS THESE MEETINGS WERE ABOVE HIS PAYGRADE!

As president of the Harvard Law Review, as law professor and as legislator, has he ever produced a single notable piece of scholarship? Written a single memorable article?

HIS MOST MEMORABLE WORK IS A BIOGRAPHY OF HIS FAVORITE SUBJECT: “HIMSELF”.

Obama worked 142 days in the senate and has spent the rest of the time running for president. If he can’t do his senate job — he certainly cannot lead our country.

Governor Palin is a breath of fresh air. I believe she will help John McCain bring change we can believe in. John McCain showed good judgment in choosing her for his VP.

I’M NOT BITTER! I’M A TYPICAL, HARDWORKING, SMALL-TOWN, BLUE COLLAR WORKER WHO WILL BE VOTING FOR THE HONORABLE JOHN McCAIN IN NOVEMBER.