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Re: Obama Blasts McCain on the Economy
1999-The Gramm-Leach-Bliley Act, authored by McCain's principle economic advisor, Phil Gramm is the law that deregulated banking and allowed the explosion of financial derivatives that led to the current credit crisis. John McCain voted for the bill.
Of course he voted for it. It was a bi partisan bill(in the House of Reps anyways) signed into law by Clinton.
I thought the change brigade liked "uniting" both parties to get things done? Clearly not.
Thats a great source. It completely ignores the fact McCain warned of this disaster three years ago and practically begged the liberals to bring it to a vote. He's the only senator to have even addressed this issue, and all co sponsors of the bill are republicans. Liberals ignored it and now we're all up shit creek without a paddle.
Re: Obama Blasts McCain on the Economy
it's almost as though at some point, every politician voted for or against something...and u can dig up all the records you want...you'll find what u want if you look hard enough
Exactlly. Point, counter-point.
It's like those ads for local congress & all 'He voted to raise taxes 43 times" then you see the opponents "he voted to raise taxes 52 times"...
Re: Obama Blasts McCain on the Economy
HAHAHHAA I knew it... It's the same source as yours James. Wordpress.com. Oh but yours is now more valid than liberal old mines... Sheeez give it up. It's over.
Re: Obama Blasts McCain on the Economy
It doesn't matter now what they voted for. Hell, Obama wasn't even in the senate then. This new crisis is gonna take new ideas. Throw out the rulebook. Talk about past votes all you want, but you better be ready for this one now.
It does matter. Read McCain's bill. It addresses what is going on now and was written three years ago. Lets not sugarcoat this. Would it have passed? We'll never know the answer to that. However, at least he did see this disaster coming.
you'll find what u want if you look hard enough
If its that easy, go find me something that shows Obama gave even two shits about this issue in his illustrious Senate career. Not something he said yesterday either. In his Senate career. I've seen his Senate record. Its not impressive and I can save you the time by telling you that you wont find anything.
Re: Obama Blasts McCain on the Economy
James Lofton wrote:
HAHAHHAA I knew it... It's the same source as yours James. Wordpress.com. Oh but yours is now more valid than liberal old mines... Sheeez give it up. It's over.
Nothing wrong with Wordpress. Wordpress hosts all sorts of things., Hell, we could turn Evo into a blog and host it on Wordpress. My issue is with the content itself. It conveniently ignores key facts.
Exactlly. Point, counter-point.
I agree, but isn't that politics in a nutshell?:haha:
Re: Obama Blasts McCain on the Economy
To show how I am not partisan, let's take a look at what Nader had to say on this issue in 2000:
From the credit-where-credit-is-due file. The Nader campaign sends along an email pointing out that Nader more or less predicted the current meltdown:
Eight years ago, consumer advocate Ralph Nader correctly predicted that the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) were on track to follow the savings and loan industry of the 1980s and 90s into a big financial heap of trouble. Nobody listened, and taxpayers are now at risk of losing tens of billions of dollars. Wall Street is being shaken to its foundation. American International Group Inc., the biggest U.S. insurer by assets, is now teetering on the brink of ruin after suffering losses of $18 billion in the past three quarters, largely due to its sub prime mortgage exposure.
"Nader Rips Mae and Mac," declared the Milwaukee Sentinel Journal on June 16, 2000. "Ralph Nader, warning of a potential taxpayer bailout similar to the savings and loan crisis, urged lawmakers to cut government benefits to mortgage-market giants Fannie Mae and Freddie Mac -- which he called 'poster children for corporate welfare.'"
Relatedly, I've gotten a lot of emails from conservatives in the last few weeks berating me for ignoring the fact that the heads of Fannie and Freddie were Democrats and gave a lot of money to Democrats. Fair point. It would be nice to say this crisis is the Republican failing, but it really is an ideological failing, one in which both parties were complicit.
