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Footloose
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Posted: Mon Oct 6th, 2008 06:19 pm |
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So how come the committee hearing transcripts point to the majority of Democrats? Cooking the books, cover-ups, etc. There seems to be a double standard here. If Barack Obama is so outraged at John McCain’s involvement in the Keating Five scandal, why is John Glenn, another Keating Five member, doing surrogate work for Obama?
"Obama’s presidential campaign released a scathing documentary on Monday detailing McCain’s ties to the Savings and Loan crisis on the 1980’s. Five U.S. senators were named in the scandal: Sen. Alan Cranston (D.-Calif.), Sen. Dennis DeConcini (D.-Ariz.), Sen. John Glenn (D.-Ohio), Sen. John McCain (R.-Ariz.) and Sen. Donald Reigle (D-Minn.)."
"The Keating scandal is eerily similar to today's credit crisis, where a lack of regulation and cozy relationships between the financial industry and Congress has allowed banks to make risky loans and profit by bending the rules," reads a trailer for the video on a website created by the Obama campaign to attack McCain, http://www.keatingeconomics.com. "And in both cases, John McCain's judgment and values have placed him on the wrong side of history.
But Obama doesn’t seem to have any quarrel with Glenn. The former Democratic Ohio senator introduced Bruce Springsteen at a benefit concert for Obama in Ohio on Sunday, October 5. He's also done other surrogate work for Obama as well. According to Obama's presidential website Glenn held a conference calls with reporters for Obama in August.
A day after Glenn urged people to register to vote for Obama in Ohio, Obama’s campaign began a multimedia campaign to remind the public McCain was one of the “Keating Five” although he was eventually cleared of all charges. Like McCain, Glenn was also found not guilty of violating any Senate rules.
Last edited on Mon Oct 6th, 2008 06:33 pm by Footloose
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Legends457
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Posted: Mon Oct 6th, 2008 05:46 pm |
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| Well it's funny everything I've posted on here has pretty much been right on and the culprits behind this financial mess is tied to the majority of republicans. The Keating Five mess is a wake up call for McCains integrity which is rated at zero right now and it will get worse if he brings up all the BS about Obama. He got caught with his pants down and now it will haunt him again. Last edited on Mon Oct 6th, 2008 06:07 pm by Legends457
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no one else
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Posted: Mon Oct 6th, 2008 04:44 pm |
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You don't seem to say much about Legends posting something as "fact." Which of Tink's statements are false? Are only Democrat's statements to be taken as true?
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Kirk
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Posted: Mon Oct 6th, 2008 04:26 pm |
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tink: I really wish you would write something instead of trolling the blogosphere and reposting materials posted to republican blogs as if they were factual content.
hotair.com/archives/2008/09/17
beltwaysnark.com/2008/09/16
gatewaypundit.blogspot.com/2008/09
GSE size has been debated since the 1970s. Selectively setting the start date of 2001 or 2002 to begin quoting ignores the history of this issue - and falsely presents this as some sort of GWB/JM greatness. This has been an annual warning from the GAO to Congress and the White House. After thirty years of crying "Wolf", the public decided that there was no wolf at the door. That is why this issue was not being discussed, debated, or proposed in Congress during the entire period (under both Democratic and Republican control and Democratic and Republican Presidents). The reason these entities are in trouble is the dual nature of their structure. They are mandated to back mortgages, and they are mandated to maximize shareholder wealth. You cannot get into markets with high risk and low reward while simultaneously offering competitive returns to shareholders. As long as average residential property market prices were rising (which occurred with little deviation through the 1985-2005 period), they could offer these higher returns. Once property markets began to sour, the increased risk profile of the mortgage industry would force wider fluctuations in returns. There was no outcry and/or use of political capital to force a vote on any issue related to financial markets other than to reduce the levels of regulation.
Hindsight and selective quotation can make either, neither, or both sides look good, bad, or indifferent. Selective quotation to present a picture that inaccurately portrays the roles of certain politicians does nothing but undermine that position.
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Tinkerbelle
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Posted: Mon Oct 6th, 2008 02:10 pm |
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Legends457 wrote: FACT: In 2002 George Bush and company pushed the lending institutions to lend money for mortgages in areas red-lined for lending money for mortgages. But he also sounded warnings that the Democrats blocked time and time again:
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001. Unfortunately, Congress did not act on the president's warnings:
** 2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
** 2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
** 2003
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that "although investors perceive an implicit Federal guarantee of [GSE] obligations," "the government has provided no explicit legal backing for them." As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. ("Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO," OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO's review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
** 2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
** 2005
April: Treasury Secretary John Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)
** 2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)
** 2008
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
"Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President's call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
In 2005-- Senator John McCain partnered with three other Senate Republicans to reform the government’s involvement in lending.
Democrats blocked this reform, too.
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Game_Over2007
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Posted: Mon Oct 6th, 2008 12:12 pm |
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Well check out this link for Mr McCain's past.... We might as well play the Karl Rove dirty tactics.
http://keatingeconomics.com/
Last edited on Mon Oct 6th, 2008 12:12 pm by Game_Over2007
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Legends457
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Posted: Mon Oct 6th, 2008 09:59 am |
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Fox News Idiot at it again.... Bill doing his normal thing acting like a Jack ASS.....
http://www.youtube.com/watch?v=RAuOEdttjZQ
FACT: In 2002 George Bush and company pushed the lending institutions to lend money for mortgages in areas red-lined for lending money for mortgages.
http://www.whitehouse.gov/news/releases/2002/06/20020617.html
http://www.nhi.org/online/issues/139/redlining.html
http://www.huffingtonpost.com/jim-moore/a-nation-of-village-idiot_b_127340.html
Last edited on Mon Oct 6th, 2008 10:12 am by Legends457
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Game_Over2007
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Posted: Sun Oct 5th, 2008 11:58 am |
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| PTG.... I have to say we've had our moments on here and I do think whats before us today is something more than just a "Fail-Out" from Uncle Sam. We knew this was brewing for years and when the economy went global a whole new set of rules came into the picture. Where we went wrong I think is we let the markets rule and we gave into Corporate Greed when we exported a majority of our good paying jobs. As the markets took off and wealth was rewarded we forgot about the blue collar worker in harms way as the shrinking job market eroded into what it is today. You can't fix this overnight. We have to get manufacturing back to work here so we can build our own self-esteem and have some sort of "pride" in our selves with the old saying of "Made In USA" again. We've lost our sense of purpose and most of all our sense of worth. I blame every politician for the last forty years for being part of our demise. We let them sell out America. Now we are in serious trouble and if people think different they are living in a fantasy world for sure. This is real and we have to fix it now. Enough said. Enjoy your Sunday. Last edited on Sun Oct 5th, 2008 12:02 pm by Game_Over2007
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Playing the Game
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Posted: Sun Oct 5th, 2008 12:39 am |
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MA and CA have asked the Federal Government to loan them money at the same favorable rates as the banks in the current bailout.
Socialism has arrived and it is ugly......................................
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Playing the Game
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Posted: Sat Oct 4th, 2008 10:31 pm |
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| Vote Obama................In 4 years we will be able to correct the mess with a real leader.
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Game_Over2007
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Posted: Sat Oct 4th, 2008 12:39 pm |
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A lot of people are fed up with government going into this election and they have a right to be because in todays markets we have some real issues before us and it's not like years ago when you invested for your future. The age of electronic trades, creative option trades, hedge funds and the list goes on and on which has to make you wonder why in hell am your in this mess. The average investor needs to avoid the markets as much as possible unless your an avid reader and get into the nuts and bolts of how this complex system works most will lose and lose a lot over time. Short traders are the VULCHERS of Wall Street and they've managed to steal over time a lot of your money based on your stupidity for buying the Brooklyn Bridges of the world. Those so called good deals never work out and you always lose. The tech bubble proved that to no end. Common thread again was greed. Here we are again with the mortgage meltdown and yet you see around this area a few builders still at it trying to maybe survive and I say good luck buddy because the worse is yet to come. PEOPLE HAVE REACHED THE GOOD OLD SATURATION POINT IN LIFE AS FAR AS MONEY GOES. THE SPEND SPEND MENTALITY IS OVER. Then you see whats going on behind Lowe's south of Camden and you have to wonder how stupid stupid really is with those three story nightmares. BUILD BUILD, THEY WILL COME !!! Enough said. 
Just FYI: http://www.tsptalk.com/comments.html
Last edited on Sat Oct 4th, 2008 12:57 pm by Game_Over2007
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Playing the Game
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Posted: Sat Oct 4th, 2008 01:17 am |
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| Give it up Fred. You move from place to place faster than an ADHD teen with no place to go.
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Fred
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Posted: Sat Oct 4th, 2008 01:14 am |
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Playing the Game wrote: Looks like everyone in the financial world saw throught this "rescue" plan.
What's next you fools who believe the government can save you?
Oh, I don't think anyone is fooled about this plan. I truly believe, based on credit drying up to all businesses, that we would have gone in the tank within a few weeks. Heck, we still might....there is already talk that it ain't enough.
What happened is that Wall Street has us, and by that I mean the US, the world, and every one of us, but the short hairs. We could not afford to see this through. I hear you about your investments, but this ain't about you. It is about the generation of baby boomers that are about to retire that put (probably too much) their investments in the stock market. It is easy to say screw them, except there are waaay too many of them, and they all vote....and people tend not to get reelected during recessions.
Gold investments are beginning to look better....
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Playing the Game
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Posted: Fri Oct 3rd, 2008 11:52 pm |
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I don't always agree with you GO as you know. You are so correct and we are potentially screwed to the wall by this garbage bag of a plan.
I am totally invested in cash and government securities. My philosophy.... If the government crashes, we are all going to hell.
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Game_Over2007
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Posted: Fri Oct 3rd, 2008 11:15 pm |
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The "Fail-Out" plan is just another nail in the coffin for those of us who know the reality of the situation. We all know why we are in trouble. The free for all greed that ran wild for the last eight years by our wall street financial institutions has now boiled over and NOBODY has any more money. Credit debt has finally brought this country to its knees and those of you who think this is just a little road bump better get ready for more to come. This runs "VERY DEEP" and we're going to be hurting for a long time. Over 400 car dealerships are closing their doors, Dept stores are laying off, we've lost another 150K jobs last month and housing debt has accelerated foreclosures since the last re-sets kicked in and theirs absolutely nothing in the pipeline to fix it. We have to much credit debt and when your told you can afford all the crap you buy, sooner of later you have to pay the "Piper". Enjoy your weekend.
Last edited on Fri Oct 3rd, 2008 11:17 pm by Game_Over2007
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Playing the Game
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Posted: Fri Oct 3rd, 2008 09:32 pm |
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Looks like everyone in the financial world saw throught this "rescue" plan.
What's next you fools who believe the government can save you?
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Fred
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Posted: Fri Oct 3rd, 2008 08:38 pm |
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McCain was on the right side of that, but you leave out that the bill never made it out of the Republican controlled committee...and the fact that his concerns were about earnings statements. You leave off the fact that there were only three sponsors, which tells you how seriously this was taken....
And let's add the fact that he was added as a co-sponsor on May 25, 2006, after the bill wa pretty much dead, anyway, and all he did for it was the speech.
I also would argue that by 2005, most of the issues were already in place, eh?
Finally, while he may have been correct in what he said, the bill may not have been the best answer, in that it was an attempt to privatize the regulatory agencies, which may have been the reason that Dems AND Republicans resisted it.
Last edited on Fri Oct 3rd, 2008 08:45 pm by Fred
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Vindicator
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Posted: Fri Oct 3rd, 2008 05:54 pm |
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Legends457 wrote: Well it seems we didn't learn enough from the Savings and Loan corruption spear headed by the Republicans in charge. Charles Keating had John McCain in his pocket for help and then the guy gets off with a slap on the hand. With a complex financial system you need fair regulations and rules to govern by or else we end up with the mess we have now. Todays poles show McCain going down more. McCain is dead in this election as far as pulling anymore Hail Mary passes....... His own greedy little ways beat him. You may be right in saying McCain is dead in this cycle, but tell me why the Dems blocked McCain's attempt to reform?
SENATOR McCAIN: “Two years ago I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The administration did nothing. Senator Obama did nothing and actually profited from the system of abuse and scandal. While Fannie and Freddie were working to keep congress away from their house of cards, Senator Obama was taking their money. He got more, in fact, than any other member of congress except for the Democratic chairman of the committee that oversees them. And while Fannie Mae was betraying the public trust, somehow its former CEO had managed to gain my opponent's trust to the point where Senator Obama actually put him in charge of his vice presidential search. This CEO, Mr. Johnson, walked off with tens of millions of dollars in salary and bonuses. Guess for what. For services rendered to Fannie Mae. Even after authorities discovered accounting improprieties that padded his compensation.”
Another CEO for Fannie Mae, Mr. Raines, has been advising Senator Obama on housing policy. This even after Fannie Mae was found to have committed, quote, extensive financial fraud under his leadership. Like Johnson, Raines walked away with tens of millions of dollars.
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Legends457
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Posted: Fri Oct 3rd, 2008 05:26 pm |
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| Well it seems we didn't learn enough from the Savings and Loan corruption spear headed by the Republicans in charge. Charles Keating had John McCain in his pocket for help and then the guy gets off with a slap on the hand. With a complex financial system you need fair regulations and rules to govern by or else we end up with the mess we have now. Todays poles show McCain going down more. McCain is dead in this election as far as pulling anymore Hail Mary passes....... His own greedy little ways beat him.
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Vindicator
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Posted: Fri Oct 3rd, 2008 04:56 pm |
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The Insyder wrote: I think you have to go back a lot further than the past eight years and you can't fix all blame on Republicans. This whole housing/credit situation bagan long ago and had Democrat fingerprints all over it.
http://news.google.com/archivesearch?ie=UTF-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&q=House+Banking+Committee+Hearings&as_ldate=2004&as_hdate=2004&um=1&scoring=t&sa=X&oi=archive&ct=title By the same token please let me suggest that you read the first hand account of exactly who covered up this mess and who warned of this years ago. You may not be pleased with Republican performance, or lack of it, but not to be horrified and outraged by the Democrats shows an incredible bias. Let me be more specific. The far left, socialist Democrats. Blue Dogs excepted.
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Game_Over2007
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Posted: Fri Oct 3rd, 2008 04:47 pm |
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Credit Crisis...... The only reason we have this mess is because the yahoos in Congress allowed this to happen and now we have to pay for it all again. People do not have anymore money to spend. Tapped out or a better word for you die hard conservatives who can't see pass McCains limited ability to comprehend the reality of the families struggling every day. WE ARE BROKE. Are you better off now than you were eight years ago? REALITY 
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Ben Franklin
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Posted: Fri Oct 3rd, 2008 03:19 pm |
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Fred wrote: I don't, and haven't heard an economist say it will last anywhere near that long, unless you listen to Ben and Ron Paul.
I suggest you read the full article I posted under the other thread. There are plenty of economists and analyst out there that predicted this would happen.
This thread is over a year old. So this was predicted by us over a year ago! How many times must we prove ourselves correct before you stop labeling us the tin hat bregade and stop listening to the politicians, whom we have proven have lied to you every step of the way?
This bailout is nothing more than ligitimising a decade of wallstreet fraud. Which all of the politicians benefited from. it will cost more than 700 billion and it will cause hyper inflation
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Fred
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Posted: Fri Oct 3rd, 2008 01:44 pm |
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Playing the Game wrote: All of the current economists that are regulary quoted, are surprised with day to day change. You can listen to them all you want.
Well, it isn't an exact science, but it is a bit more to go rather then those voices you hear in your head.....
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Game_Over2007
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Posted: Fri Oct 3rd, 2008 01:23 pm |
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| Last nights debate was a win win for Obama and even though Ms Palin could do her scripted talking points on camera, she still failed to answer at least six questions from the moderator. She's clever with the republican rhetoric basically trying to sell a refrigerator to an Eskimo. NO SUBSTANCE STILL and Joe just let her do her thing which worked out great for the DEMS.
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Playing the Game
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Posted: Fri Oct 3rd, 2008 03:35 am |
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| All of the current economists that are regulary quoted, are surprised with day to day change. You can listen to them all you want.
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Fred
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Posted: Fri Oct 3rd, 2008 03:32 am |
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I don't, and haven't heard an economist say it will last anywhere near that long, unless you listen to Ben and Ron Paul.
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Playing the Game
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Posted: Fri Oct 3rd, 2008 03:25 am |
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| Depends on who is elected. With Obamamamma, yes.
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Fred
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Posted: Fri Oct 3rd, 2008 03:21 am |
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| You think the recession will last longer than 3 years?
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Playing the Game
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Posted: Fri Oct 3rd, 2008 03:18 am |
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| OK Jimmy.....................................
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Fred
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Posted: Fri Oct 3rd, 2008 03:18 am |
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The only reason you might be wrong is that I suspect this recession will last about 18 months to 2 years, and we will then have a slight improvement over the next two.
If the incoming President can convince the American people of this, and it does get better, as I believe it will....4 more years.
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Playing the Game
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Posted: Thu Oct 2nd, 2008 10:52 pm |
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Neither Party passes the smell test this year. I think it is best for Conservatives and Republicans to let Obamamamma and Joe the Shmoe run the White House for 4 years.
We are in such a friggin mess now, anyone who runs in 2012 will blow away the incumbent.
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Game_Over2007
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Posted: Thu Oct 2nd, 2008 10:03 pm |
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| We can call the GOP ticket.... "McFailin" and the reality of it all is John McCain's so called maverick status is a joke.
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The Insyder
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Posted: Thu Oct 2nd, 2008 08:01 pm |
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Ben Franklin wrote: The Insyder wrote: I think you have to go back a lot further than the past eight years and you can't fix all blame on Republicans. This whole housing/credit situation bagan long ago and had Democrat fingerprints all over it.
http://news.google.com/archivesearch?ie=UTF-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&q=House+Banking+Committee+Hearings&as_ldate=2004&as_hdate=2004&um=1&scoring=t&sa=X&oi=archive&ct=title
Dude everyone knows its both parties fault. This is clearly a partisan issue.
Read the hearing transcripts. You'll see that your statement is wrong.
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Ben Franklin
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Posted: Thu Oct 2nd, 2008 07:54 pm |
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The Insyder wrote: I think you have to go back a lot further than the past eight years and you can't fix all blame on Republicans. This whole housing/credit situation bagan long ago and had Democrat fingerprints all over it.
http://news.google.com/archivesearch?ie=UTF-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&q=House+Banking+Committee+Hearings&as_ldate=2004&as_hdate=2004&um=1&scoring=t&sa=X&oi=archive&ct=title
Dude everyone knows its both parties fault. This is clearly a partisan issue.
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The Insyder
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Posted: Thu Oct 2nd, 2008 07:40 pm |
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I think you have to go back a lot further than the past eight years and you can't fix all blame on Republicans. This whole housing/credit situation bagan long ago and had Democrat fingerprints all over it.
http://news.google.com/archivesearch?ie=UTF-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&q=House+Banking+Committee+Hearings&as_ldate=2004&as_hdate=2004&um=1&scoring=t&sa=X&oi=archive&ct=title
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Fred
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Posted: Thu Oct 2nd, 2008 07:24 pm |
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The reality of the situation is that the credit markets were already beginning to lock up, and are going to get worse. Maybe you don't think it affects you, but it will at some point as individuals, businesses, and governments can't buy or build anything.
Yes, I would like the perfect solution, and I would prefer the 100 billion of pork and unfunded tax cuts not be in there. I would like those who caused it to suffer pain, but I also know deep down they saw this coming and their "hurt" will be their net worth decreasing from 100 million to 50 million...and that they will be in a position to get it all back, in spades.
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Legends457
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Posted: Thu Oct 2nd, 2008 06:48 pm |
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| The criminals have ruined this country for the last eight years and the majority of the country is fed up with you conservatives. All you do is take care of your own and the hell with the rest in simple words. You started a war we had no business being in and then let wall street run wild with greed. No regulations, no rules and the worse president this country has ever had to endure. You still don't get it but the rest of the country does and the conservatives crap has run its course. Your self proclaimed wisdom follows the republican doctrine to a "T" and the American people are fed up with it all. Last edited on Thu Oct 2nd, 2008 06:50 pm by Legends457
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Bixby
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Posted: Thu Oct 2nd, 2008 05:08 pm |
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Ben Franklin wrote: Has anyone seen the bill the senate passed? It appears to me they still have not published it. Am I the only one who has an issue with this going down in secret? No, Ben, and there are many who have a problem with it. We get bits and pieces but after learning that McCain caved in to support this pork-wrapped "bailout" I have determined that neither McCain not Obama is fit to lead this country. Thankfully they stripped the provision to give ACORN any monies but they bribed those elkected members with port to "sweeten" the deal. Unless there is a full investigation and open congressional hearings into the beginning of this mess to the present, not one of the congress who supports this bailout deserves re-election. This should be fully investigated and those responsible should be imprisoned the way Ken Lay and the Enron crooks were. There are no clean hands here. Read the transcripts of the 2004 House Banking Committee hearings and you will see exactly who the criminals are.
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Game_Over2007
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Posted: Thu Oct 2nd, 2008 04:54 pm |
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| Joe Bidden needs to do his job and put John McCain in his place with everything he can put together and do it with a "smile"l John McCain is starting to drool at the mouth and when that happens the man gets "angry". John McCain can't take the pressure like years ago and it's showing each new day as this election comes nearer to the end. McCain has made some serious mistakes and one of them is picking the so called Pit Bull with Lipstick for a running mate. I do think his Navy mind set kicked in and he was thinking with the wrong head again. John has a way of doing that and we'll leave it at that.
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Ben Franklin
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Posted: Thu Oct 2nd, 2008 04:46 pm |
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| Has anyone seen the bill the senate passed? It appears to me they still have not published it. Am I the only one who has an issue with this going down in secret?
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Fred
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Posted: Thu Oct 2nd, 2008 02:50 pm |
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I don't think so.
The format is highly structured, so if she doesn't drool on herself and can parrot the talking points they have drilled into her, they will be able to claim a victory for her.
Joe has a more difficult job; not that he isn't prepared or that he won't know the answers, but that he has to take the right approach with Palin. Personally, I hope he would treat her exactly as one should treat a lightweight in a debate...crush her like a grape, but he won't do that.
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Legends457
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Posted: Thu Oct 2nd, 2008 11:49 am |
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This debate tonight should put the final touches on a disaster VP pick for John McCain and his Maverick crap.
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Game_Over2007
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Posted: Wed Oct 1st, 2008 04:12 pm |
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| Two Pennies..... I have no idea what the hell your talking about outside the fact that John McCain's ties to corruption goes back to the Keating FIVE days and his ability to escape prosecution is beyond reality. His influence back then within the Savings and Loan spoke for itself. His Reagan era sponsorship of military spending was a doctrine for those $400 toilet seats and now with our military spending at the highest levels ever we can look back and put it all in perspective can't we? Pay and compensation costs a lot of money for a well equiped military. No minimum wage paying jobs there huh? War costs at 12 billion a month..... McCain don't get it Last edited on Wed Oct 1st, 2008 04:13 pm by Game_Over2007
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Ben Franklin
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Posted: Wed Oct 1st, 2008 03:50 pm |
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2centsworth wrote: Game_Over2007 wrote: How Does The Army define McCain?
Posted on September 13, 2008 by chamay0
This is cute, while perusing the Army Times I ran across a pretty sweet articles covering one of McCain’s speeches, at the Lee Summit, where he told the listeners that Obama said he would slow our development for future combat systems. Was it true? This is how the Army interpreted McCain deception:
Loren Thompson of the Lexington Institute called it deceitful.
“McCain’s interpretation of Obama’s position is typical of the way in which the Republicans have twisted Democratic views in order to undercut their opponents and at the same time obscure the past positions of the Republicans,” Thompson said. “Future Combat Systems is the centerpiece of Army modernization. However, McCain has been more critical of it than anyone else in the chamber. Obama has been much more detailed and thoughtful in his comments about future military investment than McCain’s very superficial statements.”
I guess McCain doesn’t think any one can see through his lies. I’m starting to think the man is a pathological liar with no shame.
Enough said
Get the blinders off GO. FCS is a typical DOD boondoggle that began in 1999 as a 92 billion dollar project. Naturally it is years behind schedule and is now estimated to cost over 240 billion. McCain's position is that the defense budget and procurement and development process should be scrapped and a new system put in place. He is tying to bring an end to the $4000 hammer and $10,000 toaster.
youre so naive. The gov isnt paying 4K for a hammer thats how they hid blackops money! The process wont be chaged cos its a good process to hide how much is actually being spent on what project, so our enemies cant tell what were working on. Or so the public cant
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2centsworth
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Posted: Wed Oct 1st, 2008 02:49 pm |
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Game_Over2007 wrote: How Does The Army define McCain?
Posted on September 13, 2008 by chamay0
This is cute, while perusing the Army Times I ran across a pretty sweet articles covering one of McCain’s speeches, at the Lee Summit, where he told the listeners that Obama said he would slow our development for future combat systems. Was it true? This is how the Army interpreted McCain deception:
Loren Thompson of the Lexington Institute called it deceitful.
“McCain’s interpretation of Obama’s position is typical of the way in which the Republicans have twisted Democratic views in order to undercut their opponents and at the same time obscure the past positions of the Republicans,” Thompson said. “Future Combat Systems is the centerpiece of Army modernization. However, McCain has been more critical of it than anyone else in the chamber. Obama has been much more detailed and thoughtful in his comments about future military investment than McCain’s very superficial statements.”
I guess McCain doesn’t think any one can see through his lies. I’m starting to think the man is a pathological liar with no shame.
Enough said
Get the blinders off GO. FCS is a typical DOD boondoggle that began in 1999 as a 92 billion dollar project. Naturally it is years behind schedule and is now estimated to cost over 240 billion. McCain's position is that the defense budget and procurement and development process should be scrapped and a new system put in place. He is tying to bring an end to the $4000 hammer and $10,000 toaster.
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Angel1965
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Posted: Wed Oct 1st, 2008 12:56 pm |
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Failing banks on the rise...
http://www.fdic.gov/bank/individual/failed/banklist.html
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Game_Over2007
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Posted: Wed Oct 1st, 2008 11:40 am |
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How Does The Army define McCain?
Posted on September 13, 2008 by chamay0
This is cute, while perusing the Army Times I ran across a pretty sweet articles covering one of McCain’s speeches, at the Lee Summit, where he told the listeners that Obama said he would slow our development for future combat systems. Was it true? This is how the Army interpreted McCain deception:
Loren Thompson of the Lexington Institute called it deceitful.
“McCain’s interpretation of Obama’s position is typical of the way in which the Republicans have twisted Democratic views in order to undercut their opponents and at the same time obscure the past positions of the Republicans,” Thompson said. “Future Combat Systems is the centerpiece of Army modernization. However, McCain has been more critical of it than anyone else in the chamber. Obama has been much more detailed and thoughtful in his comments about future military investment than McCain’s very superficial statements.”
I guess McCain doesn’t think any one can see through his lies. I’m starting to think the man is a pathological liar with no shame.
Enough said
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Fred
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Posted: Tue Sep 30th, 2008 03:01 pm |
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Without question, Ben...and as proof of that, the more secure your election to your next term is, the less likely you were to vote on it.
I do have money in a couple of retirement funds, and college education plans that will take a hit. I am hoping that the window for when I need them is far enough out that I won't take too much of a bath. The retirement I am really not that worried about, as I've got 20 years or so for that, but needing the college funds in 5 years or so might be a bit tighter.
However....I think a bailout plan WILL pass in some form. The Congresscritters will get a few more bones in the package, they will get some sort of CYA, and the stock market will go up 800 points.
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Ben Franklin
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Posted: Tue Sep 30th, 2008 02:54 pm |
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