|
| Page 1, 2, 3 |
In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats.
|
PACNWguy 
User ID: 501628
9/16/2008 9:36 PM
Report abusive post | In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats.
| Quote |
While Barry was out being a community organizer, John McCain was trying to fix the problem.
-------------------
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.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac—known as Government-sponsored entities or GSEs—and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
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.
I urge my colleagues to support swift action on this GSE reform legislation.
:mcpa:
OBAMA - THE FASTEST FAILED PRESIDENT IN AMERICAN HISTORY |
|
nothing here move on
User ID: 433091
9/16/2008 9:38 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Copy..paste...yawn |
|
Anonymous Coward
User ID: 503960
9/16/2008 9:45 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Copy..paste...yawn Quoting: nothing here move on 433091
That's all he does. His inbox is full of right-wing talking points.
How could the Dems block anything in 2005? They didn't have the votes. The Repubs pushed through ANYTHING they wanted. Hell, in 2008, the Dems still don't have enough votes to override a veto. Hence, can't get much done.
Bush has received virtually everything he has wanted over the last 7 years. He vetos anything the Dems try and push through. If this was something he really wanted, it would have happened. Bypassing Congress is nothing new for this administration. |
|
Apocalypse Troll 
Forum Moderator
User ID: 504517
9/16/2008 9:46 PM
 | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Why the fuck would the democrats allow that?
Look at who Fannie and Freddie Contributed to the most:
Obama was #2 |
|
Anonymous Coward
User ID: 504700
9/16/2008 9:47 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
BARNEY FRANK on John McCain's FINANCIAL REFORM RECORD
Why do the republicans think we will believe this economic meltdown is the democrats fault? Who are kidding with this nonsense. Let’s look another perspective on what happened and why Bush/McCain could not do better.
[link to chamay0.wordpress.com]
|
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 9:48 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
google the bill and educate yourself for a change, if that is at all possible. |
|
Apocalypse Troll
Forum Moderator
User ID: 504517
9/16/2008 9:48 PM
| | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Copy..paste...yawn
That's all he does. His inbox is full of right-wing talking points.
How could the Dems block anything in 2005? They didn't have the votes. The Repubs pushed through ANYTHING they wanted. Hell, in 2008, the Dems still don't have enough votes to override a veto. Hence, can't get much done.
Bush has received virtually everything he has wanted over the last 7 years. He vetos anything the Dems try and push through. If this was something he really wanted, it would have happened. Bypassing Congress is nothing new for this administration. Quoting: Anonymous Coward 503960
You are an idiot. They could block anything the whole time the Republicans had a simple majority. The Republicans never had 60 seats in the Senate. |
|
Seneca
User ID: 504631
9/16/2008 9:50 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
[link to thomas.loc.gov]
S.190
Title: A bill to address the regulation of secondary mortgage market enterprises, and for other purposes. Sponsor: Sen Hagel, Chuck [NE] (introduced 1/26/2005)
Cosponsors: Sen Dole, Elizabeth [NC], Sen McCain, John [AZ], Sen Sununu, John E. [NH]
SUMMARY
Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting. |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 9:54 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
The simple fact is McCain is the guy who warned the taxpayers and tried to stop the problem we have today. He is the guy who can fix it as president. That is what he has been saying all along.
Fannie and freddie oversight is what caused the problem. Obama and chris dodd were on the fucking payroll. |
|
Anonymous Coward
User ID: 504700
9/16/2008 9:56 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
John McCain: Liberal In Disguise
by Matthew A. Roberts
as seen in National Ledger
Over the past three decades, America in some respects has moved slightly to the Right. Although conservatives have not yet won the wars on political correctness, education, and culture, Americans nevertheless are now more skeptical than they were thirty years ago of big government, high taxes, entitlements, judicial activism and secularism. In these areas, conservatives have proven most successful. The word "liberal" has become a bad word in most states, and consequently many leftists hesitate to label themselves as leftists.
In many states it now rings popular to call oneself a conservative, even if one truly resembles a liberal. As with any popular movement, dilution occurs, opportunists blow with the wind, and pretenders abound. John McCain is one of these pretenders. He is a leftist in disguise, using his popularity and charisma to masque his liberal leanings. In reality, McCain resides as far to the Left as John Kerry. Anyone who thinks otherwise deludes himself.
McCain has most feigned conservatism in his militarism. McCain, a Vietnam veteran, is hawkish and patriotic. These attributes support his political stump. As long as he can play the veteran card and remain pro-war, he can downplay all his other shortcomings. Appearing hawkish, however, does not necessarily constitute conservatism. (Recent history shows that leftists can be militaristic too: Stalin, Mao, Castro). Military force always will remain crucial in many cases, but willingness to use it does not incontrovertibly make one a conservative.
And when one gets beyond McCain's bellicism, his true liberal character crops up. Outside martial matters, McCain sides with the American Left on most key issues. The greatest irony of McCain's masquerade is that he packages himself as a principled conservative, one with character, who rises above partisan politics. In reality, however, he is as disingenuous as the Clintons and presently bends whichever the way the wind blows to bolster himself for 2008. Analyze him issue by issue.
First, regarding religion, McCain looms as no lover of Christians. Recall his comments about key religious leaders in 2000, calling them "agents of intolerance." And McCain's vitriolic vilification of Christians was not limited to a single occurrence, for he later said, "I must not and will not retract anything that I said in that speech at Virginia Beach. It was carefully crafted, it was carefully thought out." (Hardball, 3/1/00). More recently, however, McCain, positioning himself for 2008, has repackaged himself as pro-Christian, lauding key religious leaders and duping the devout. (Is this not as reptilian as Bill Clinton's waffling?)
Second, on the issue of gay marriage, in 2005 McCain opposed a federal gay-marriage ban (Los Angeles Times, 1/25/ and 3/8). Now, however, likely realizing that most Americans think otherwise, McCain says he supports a gay-marriage ban (Meet the Press, 4/2/06). Which is it? Given his penchant for progressive politics, we can only assume the former.
Then, regarding abortion, McCain most certainly is pro-choice. In the San Francisco Chronicle (8/20/99) McCain sided with the pro-abortion camp, suggesting that overturning Roe v. Wade would lead to illegal abortions. Realizing, however, that he could not inveigle the GOP nomination with such views, McCain more recently has resold himself as pro-life, even saying he would support the South Dakota ban on abortions. What are Americans to believe? He either is pro-choice or lacks any real conviction on the subject.
Furthermore, regarding campaign-finance reform, the McCain-Feingold Campaign Reform Act is perhaps one of the more left-wing acts of Congress in the past twenty years. As recently exposed by Brian C. Anderson, "The Plot to Shush Rush and O'Reilly" in City Journal, McCain-Feingold (which passed with overwhelming Democrat support) is a convenient contrivance to silence conservatives. As noted by a whole host of commentators (George Will, Jonathan Rauch, and even Justice Clarence Thomas), this act poses blatant restrictions on political speech. It especially affects AM Radio and political internet blogs -- the only two spheres of popular media where conservatives can truly compete. Critics remain divided why McCain supported a dictate so damaging to conservatives. Was it perhaps so that he could silence many on the Right whom he laconically loathes?
Last, but not least, McCain's liberal tendencies show in the immigration debate. McCain has proven to be farther Left on the immigration issue than even many Liberals. At the very basis of most conservative thought is the idea of law and order, which are essential for the continuity of society. Bypassing tradition and sanity, and slapping in the face those who have come here legally, McCain has sought to sweep aside law and order to engage in the unbecoming business of pandering to ethnicities. (Isn't this the dominion of Democrats?) McCain's radical views on immigration threaten numerous components of the wellbeing of the United States and, more generally, Western Civilization: national security, standards of living, and cultural homogeneity, to name a few. McCain has courted the cheap-labor lobby for some fast cash for 2008 and now attempts to convert the U.S. into a third-world country.
McCain's liberal laundry list goes on and on. Senator Lindsey Graham, another liberal in disguise, comments correctly that the present is a defining moment for the Republican Party, although his underlying analysis is wrong. The choice is between a party of McCain's vision, a party indistinguishable from the Democratic Party, or a party that at least maintains a modicum of conservatism. If McCain loses, hopefully he will depart for the Democratic Party (where he belongs); but if he wins, expect to see a mass exodus of conservative voters from the GOP, probably over to a third party.
--------
Matthew A. Roberts is a freelance columnist and maintains a weblog at
[link to www.conservatoroccidentalis.com]
--------- |
|
Apocalypse Troll
Forum Moderator
User ID: 504517
9/16/2008 9:58 PM
| | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Here is the list of fannie and freddie contributions to lawmakers.
No surprise who is at the top, eh?
[link to www.godlikeproductions.com]
 |
|
Apocalypse Troll
Forum Moderator
User ID: 504517
9/16/2008 10:06 PM
| | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
<CRICKETS> |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:07 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
2005 the GOP was in charge of Congress, the House and Presidency. How could the democrats block anything? |
|
Anonymous Coward
User ID: 500790
9/16/2008 10:08 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
The simple fact is McCain is the guy who warned the taxpayers and tried to stop the problem we have today. He is the guy who can fix it as president. That is what he has been saying all along.
Fannie and freddie oversight is what caused the problem. Obama and chris dodd were on the fucking payroll. Quoting: Pacnwguy 501628
i thought you said in one of your other threads that there was no economic problem.
which is it? |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 10:09 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
If this bill had passed 3 years ago, imagine how good the market would be today? Thank you democrats. |
|
Anonymous Coward
User ID: 422858
9/16/2008 10:10 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
If this bill had passed 3 years ago, imagine how good the market would be today? Thank you democrats. Quoting: Pacnwguy 501628
Pacnwguy, keep it going dude! |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:10 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
If this bill had passed 3 years ago, imagine how good the market would be today? Thank you democrats. Quoting: Pacnwguy 501628
2005 the GOP was in charge of Congress, the House and Presidency. |
|
Anonymous Coward
User ID: 500790
9/16/2008 10:12 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
If this bill had passed 3 years ago, imagine how good the market would be today? Thank you democrats. Quoting: Pacnwguy 501628
and how about if john mccain hadn't pushed for deregulation of the financial industry?
just think! |
|
ANNONYMOUS
User ID: 504390
9/16/2008 10:14 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Soooooory wrongo again in 2005 both houses of Congress were controlled by your REPOS who seem to have no difficulty passing anything they wanted before this. So explain to me how all those dasterdly DEMS ganged up on your guys and thoroughly trounced Messers Bush and McSame. |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 10:15 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
2005 the GOP was in charge of Congress, the House and Presidency. How could the democrats block anything? Quoting: Anonymous Coward 503790
The same way republicans do now.
Also, a lot of republicans got canned two years ago for being too liberal.
McCain is the guy who was sounding the alarm. Not the democrats. They were the ones robbing the hen house. and still are today.
Feel free to look up the bill. Its public record along with the floor votes. |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:17 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
If this bill had passed 3 years ago, imagine how good the market would be today? Thank you democrats.
and how about if john mccain hadn't pushed for deregulation of the financial industry?
just think! Quoting: Anonymous Coward 500790
John McCain, Deregulation Hawk, Criminal
John McCain’s affinity for supporting the deregulation of major industries puts him in league with the worlds most notorious corporate criminals. Deregulation is the tool of the super rich corporate criminal class, and John McCain is their poster child.
First McCain supported deregulation of the Savings and Loan industry. All the while accepting lavish gifts and trips on private jets from Charles Keating who would benefit directly form the legislation. This led to rampant theft of customer savings. The Savings and Loan industry then crashed costing the American taxpayers $30 Billion. McCain was indicted for corruption and Keating went to prison.
Then McCain followed that mess with deregulation of the energy industry. This created kaos in the energy markets, the Enron scandal, and cost rate payers across the country $20 billion in manipulated energy costs. Within a year all competition for gas and oil was gone and prices began rising. Further deregulation of the energy commodities market closed the deal. Now the giant energy conglomerates could own the gas stations, the oil rigs, the refineries, and thanks to John McCain, they now could create their own hedge funds to manipulate supply, demand and the financial markets. A sweet deal for Exxon Mobile who this year raked in more profits than any company in the history of the world, and payed their CEO $500 million in bonuses, while spending less that 2 million to develop new sources of oil from the more than 10 million acres of undeveloped US oil leases Exxon holds.
That was not enough for our hero John McCain. He then supported deregulation of the Mortgage industry which led to rampant lender abuse and the current mortgage crisis. Now with the just passed bailout legislation this will cost taxpayers $150 Billion.
See any pattern here? The next time you hear John McCain spouting his support for deregulation remember, deregulation is the tool that corporate criminals use to steal tax payer money. Anyone supporting it is by default either a fool or a con man trying to pick your pockets.
The real problem with ignorant politicians like John McCain is not the erroneous bloviations on policy that they rehearse and spout whenever the audience fits the message. It is that the real intellectual criminals, Charles Keating in the case of the Savings and Loan scandal, Ken Lay in the case of the Enron scandal, and Senator Phil Graham the architect of the Mortgage meltdown, can twist and manipulate these weak minded political tools to their own ends, with the fools like McCain never even realizing they being manipulated.
Let’s all see John McCain for the wimpy say anything to appease voters, corporate tool that he is. No on McCain 2008, No more tools in politics.
[link to www.politicor.com] |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 10:21 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Soooooory wrongo again in 2005 both houses of Congress were controlled by your REPOS who seem to have no difficulty passing anything they wanted before this. So explain to me how all those dasterdly DEMS ganged up on your guys and thoroughly trounced Messers Bush and McSame. Quoting: ANNONYMOUS 504390
That Is the point. Too many republicans voted with the dems. They got fired 2 years ago. McCain is going to clean up DC. He tried but was only a senator. As president, he and Palin can clean house. |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:21 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
2005 the GOP was in charge of Congress, the House and Presidency. How could the democrats block anything?
The same way republicans do now.
Also, a lot of republicans got canned two years ago for being too liberal.
McCain is the guy who was sounding the alarm. Not the democrats. They were the ones robbing the hen house. and still are today.
Feel free to look up the bill. Its public record along with the floor votes. Quoting: Pacnwguy 501628
McCain: Deregulation Hawk
One could argue, quite accurately, that John McCain is responsible for the Nation's economic crisis. McCain has worked his entire career to deregulate the financial industry - with disastrous results.
In the 1980's McCain was a key figure in deregulating the savings and loan industry. McCain parlayed it into highly profitable graft for himself. That led to wholesale theft and the collaspe of many S&Ls. McCain got caught in the the ensuing scandal but successfully used his POW line to wiggle free.
McCain's economic guru, Phil Gramm, slipped the "Enron Loophole" into legislation in the year 2000. This deregulatory loophole was used by that infamous company to game the electricity markets so egregiously that it led to Enron's own collapse. Since then, McCain has blocked every effort to close the loophole which is now being used by energy traders to game gasoline prices.
The current banking crisis traces back to the repeal of the Glass-Steagall Act in 1999. Again Phil Gramm get direct blame for deregulating banks. Again, John McCain followed Gramm like an servile puppy in the effort. The effect is an economic crisis the world has not seen in 75 years.
McCain has said he will make Phil Gramm Treasury Secretary.
McCain's son, Andrew, ran an Arizona bank into bankruptcy earlier this year under curious, at least, circumstances.
Not content with fucking the nation's economy, McCain is campaigning on a platform of deregulating health care.
It is true that, as of today, John McCain is urging reregulating the financial markets. Of course that would mean undoing his life's work. But, John McCain wouldn't lie, would he? He wouldn't say one thing now to get elected and do another thing after he gets in office, would he?
[link to alittlereality.blogspot.com] |
|
Anonymous Coward
User ID: 500790
9/16/2008 10:22 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Soooooory wrongo again in 2005 both houses of Congress were controlled by your REPOS who seem to have no difficulty passing anything they wanted before this. So explain to me how all those dasterdly DEMS ganged up on your guys and thoroughly trounced Messers Bush and McSame.
That Is the point. Too many republicans voted with the dems. They got fired 2 years ago. McCain is going to clean up DC. He tried but was only a senator. As president, he and Palin can clean house. Quoting: Pacnwguy 501628
how so, exactly? does he plan on telling the voters just for whom they can and cannot vote? |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:24 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Keating 5. |
|
ANNONYMOUS
User ID: 504390
9/16/2008 10:26 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Try and answwer my question dude don't give me this same as crap. Secondly, in 2005 there is no way that all your REPOS voting as a block could not have passed this Bill. Check out the numbers and remember the election which gave my DEMS threadbare control of the House was in 2006 and took effect in 2007. SPIN SPIN SPIN just like a top but we all know where you land. |
|
Anonymous Coward
User ID: 503790
9/16/2008 10:27 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Try and answwer my question dude don't give me this same as crap. Secondly, in 2005 there is no way that all your REPOS voting as a block could not have passed this Bill. Check out the numbers and remember the election which gave my DEMS threadbare control of the House was in 2006 and took effect in 2007. SPIN SPIN SPIN just like a top but we all know where you land. Quoting: ANNONYMOUS 504390
When you control the House, Senate and Presidency the other party can't block shit. |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 10:28 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Soooooory wrongo again in 2005 both houses of Congress were controlled by your REPOS who seem to have no difficulty passing anything they wanted before this. So explain to me how all those dasterdly DEMS ganged up on your guys and thoroughly trounced Messers Bush and McSame.
That Is the point. Too many republicans voted with the dems. They got fired 2 years ago. McCain is going to clean up DC. He tried but was only a senator. As president, he and Palin can clean house.
how so, exactly? does he plan on telling the voters just for whom they can and cannot vote? Quoting: Anonymous Coward 500790
[youtube]
With the power of the veto pen and the bully pulpit. Also, there is a good chance republicans will take back control of congress again. They are ahead as of today. |
|
Dirtfarmer
Forum Farmer and Gas Pumper
User ID: 503477
9/16/2008 10:31 PM
 | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Man when trouble hits, those Republican neocon run like hell don't they. They haven't done a thing wrong in well over 200 years.
How fortunate for governments that the people they administer don't think.
Adolf Hitler
Firearms are second only to the Constitution in importance; they are the peoples' liberty's teeth.
George Washington
When the government fears the people there is liberty; when the people fear the government there is tyranny.
Thomas Jefferson
We are mere journeymen, planting seeds for someone else to harvest. Melvin Tolson
"Expose yourself to your deepest fear; after that, fear has no power, and the fear of freedom shrinks and vanishes. You are free." Jim Morrison |
|
bitchfromhell
User ID: 473633
9/16/2008 10:35 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
While Barry was out being a community organizer, John McCain was trying to fix the problem.
-------------------
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.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac—known as Government-sponsored entities or GSEs—and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
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.
I urge my colleagues to support swift action on this GSE reform legislation. Quoting: PACNWguy
EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
October 26, 2005
(House)
STATEMENT OF ADMINISTRATION POLICY
H.R. 1461 � Federal Housing Finance Reform Act of 2005
(Rep. Baker (R) Louisiana and 19 cosponsors)
The Administration has long called for legislation to create a stronger, more effective regulatory
regime to improve oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks
("housing government-sponsored enterprises" or "housing GSEs") and appreciates the
considerable efforts of Chairman Oxley and Chairman Baker in crafting H.R. 1461. However,
H.R. 1461 fails to include key elements that are essential to protect the safety and soundness of
the housing finance system and the broader financial system at large. As a result, the
Administration opposes the bill.
Also, weren't the republicans the majority in 2005?
Please provide a link for the quote. |
|
Pacnwguy
User ID: 501628 (OP)
9/16/2008 10:35 PM | | Re: In 2005 Bush and McCain tried to reform Fannie and Freddie with the Fed Housing Reform act but were blocked by Democrats. | Quote |
Hey PAC RAT HTFAY. Try and answwer my question dude don't give me this same as crap. Secondly, in 2005 there is no way that all your REPOS voting as a block could not have passed this Bill. Check out the numbers and remember the election which gave my DEMS threadbare control of the House was in 2006 and took effect in 2007. SPIN SPIN SPIN just like a top but we all know where you land.
When you control the House, Senate and Presidency the other party can't block shit. Quoting: Anonymous Coward 503790
Not if you dont have every vote on your side. There has never been any time in us history that any administration was able to pass every bill no matter how much control they had. there are a lot of ways to block bills. You kids need to bone up a little. |
|
| Page 1, 2, 3 |
|
