John McCain Warned Us About Fannie and Freddie

John McCain took to the Senate floor on May 25, 2006 to warn about the risks Fannie Mae and Freddie Mac were taking. He introduced a bill to address those risks, but it was blocked by Democrats.

Category:

News & Politics

Tags:

• fannie
• mae
• freddie
• mac
• john
• mccain
• barack
• obama

[sikorskyfan]

Go McCain 2008- Obama is a fraud, no experience, a do nothing political hack who has done nothing. The funny thing is, with his experience he couldnt run the local Wal-Mart.

[JoseyJJJ]

Which nominee is in bed with Corporations?

THE ONE that's promoted 24/7 by the Corporate Owned Media and their Wall Street sponsors.

A candidate supported 24/7 by the CORPORATE media and press - can't be good for The People. But the dumbed down electorate rely on pro-Obama CORPORATE media pundits and reporters to shape their opinions.

Dems for McCain/Palin!

[JoseyJJJ]

Obama is the ONLY DEM to state Bush and Cheney HAVE NOT committed impeachable offenses!

As president, Obama would NOT pursue investigations of the Corporations that ushered him into the White House!

We need true reform with PROVEN REFORMERS - McCain/Palin - YES!!

Obama has NEVER stood up to the Dem Party - he's owned by them.

McCain has bucked the Repubs and Bush.

[politivity]

Actually, this started with the 1977 Community Reinvestment Act, which forced Fannie Mae to extend loans to people in low-income areas. It also forced private banks to extend these loans, if they wanted FDIC insurance. Bill Clinton extended the CRA during his admin. Dems blocked Repub efforts to introduce Fan/Fred regulation in the 2000s. This problem has been going on for 30 years. Remember the S&L crisis? Yeah, this played a part too.

[Joeybsmooth]

He also said that the economy was good, a week ago .

[kitcasino]

shelby0099

He won't mention any of this because it is irrelevant and misleading, it would be committing political suicide if he did. Fannie and Freddie did not originate or even condone the bad loans being made over the last 5 years. This crisis is firmly rooted in the private sector-- and it's called predatory lending. You're putting the blame in the wrong place.

[luvguins]

Good talking point for Palin on Thursday night.

[nhproperty]

The liberal press should ashamed for under-reporting this!

[frankreally]

This mess is becuase Democrat-engineered, government-coerced affirmative action lending. "Stingy" bankers don't give loans to masses of unqualified borrowers. Get real. Democrats are always tryiny to cheat reality and plat "let's pretend". Let's pretend that everyone is qualified for a mortgage. Let's pretend that everyone has earned a house. Grow up.

[ihearttubing]

The mortgage mess was a result of Democrate-engineered, governemnt-mandated affrimative action lending. "Stingy" bankers don't give loans to masses of unqualified borrowers. This is political correctness run amok.

[johnnyblista]

Take your blinders off!

McCain's own campaign is swarming with 26 advisers or fundraisers who have lobbied or are currently lobbying for Fannie Mae or Freddie Mac--including campaign manager Rick Davis. Freddie Mac paid Davis's consulting and lobbying firm Davis Manafort a consulting fee of $15,000 a month starting in 2005--before Davis took a leave of absence to work on the McCain campaign--and ending only last month, when the U.S. government acquired the firm.

It's a double-edged sword.