jgg, Nice. Lot of words, lots of links. None of which answer the question i asked you.
On Sep 19, 12:04 pm, jgg1000a <[EMAIL PROTECTED]> wrote: > In fact he opposed it in 2005... As did a majority of Democrats when > Raines got his bonus and Freddie and Fannie were fined in 2004 3.8 > million of illegal lobbying... > > http://themountainsage.wordpress.com/2008/09/17/mccain-called-for-ref... > > The bill of 2005 > > http://thomas.loc.gov/cgi-bin/bdquery/z?d109:SN00190:@@@L&summ2=m&; > > http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary > > There were 3-4 co-sponsors, all Republican... And yes many > Congressional Republican are also to blame along with Obama and the > Congressional Democrats... So when Obama said he sponsor a bill a > month ago or at the beginning of the year, YOU SHOULD ASK WHY NOT IN > 2005 and 2006 when new regulatory powers had a chance to be in effect > BEFORE the crisis??? > > In 2006 McCain said this in pointing out the false accounting and > political lobbying by Freddie and Fannie (remember Obama was the 3rd > largest reciepient of Freddie and Fannie money from 1998 to 2007 (and > Obama recieved his in only 3 years)... > > http://themountainsage.wordpress.com/2008/09/17/mccain-called-for-ref... > > >>> 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. > > In fact he was just follow the family tradition of Congressional > Democrats -- looser rules easier for low income folks to buy a > home... Here is Barney Franks opinion from 2003... > > http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575A... > > >>> Significant details must still be worked out before Congress can approve > >>> a bill. Among the groups denouncing the proposal today were the National > >>> Association of Home Builders and Congressional Democrats who fear that > >>> tighter regulation of the companies could sharply reduce their commitment > >>> to financing low-income and affordable housing. > > ”These two entities — Fannie Mae and Freddie Mac — are not facing any > kind of financial crisis,” said Representative Barney Frank of > Massachusetts, the ranking Democrat on the Financial Services > Committee. ”The more people exaggerate these problems, the more > pressure there is on these companies, the less we will see in terms of > affordable housing.” > > Now Obama complains that McCain did little in the 90's (true) it is > also true Obama DID NOTHING before 2008 even when he had a chance in > 2006... > > http://www.politifact.com/truth-o-meter/article/2008/sep/17/mccains-w... > > On Sep 18, 10:52 pm, Hollywood <[EMAIL PROTECTED]> wrote: > > > > > Jgg, > > > WHOA dude, how did "REFUSE to help Mccain" suddenly become "did LITTLE > > to promote Fannie Mae reform?" How the fuck did THAT happen????? > > > Plus I suppose i'm to accept YOUR definition of "little", right? > > > On Sep 18, 11:22 am, jgg1000a <[EMAIL PROTECTED]> wrote: > > > > Obama was in the Senate in 2005... He did little to promote Fannie > > > Mae reform when the reform bill was there.... But to have done that > > > he would have had to go against Sen. Dodd and the Black Caucus --- > > > who advocated looser regulations because it "promote low income home > > > ownership"... > > > > Show me where Obama has opposed powerful vested interested in seeking > > > institutional reform or reform by legislatation that was opposed by > > > power interests within the Democratic party, either in Washington, > > > Springfield, or Chicago??? The facts are when he could have made a > > > difference he backed the Status Quo in Chicago, Springfield, or > > > Washington... > > > > On Sep 18, 11:12 am, Hollywood <[EMAIL PROTECTED]> wrote: > > > > > jgg, > > > > > 1. First you would have to prove to me that Obama was in a position to > > > > help McCain and then you would have to prove to me that he did in fact > > > > REFUSE to help McCain. Of course, you would also have to explain to me > > > > McCain stated role in passing Fannie Mae reform in 2005. > > > > > 2. Admit? Do you by any chance mean agree? > > > > > 3. Show me where Obama has stated that he refuses to seek change in > > > > the Democratic party unless it was unaminous. You need to understand > > > > that your perceptions and/or opiniuons are not the same thing as > > > > facts. > > > > > On Sep 18, 9:49 am, jgg1000a <[EMAIL PROTECTED]> wrote: > > > > > > Not really... Why did he refuse to help McCain in passing Fannie Mae > > > > > reform in 2005... Or take over a year to admit to the Surge's > > > > > success??? Or refuse to seek change with the Democratic held > > > > > Congress that was not unaminous??? > > > > > > On Sep 17, 5:17 pm, Hollywood <[EMAIL PROTECTED]> wrote: > > > > > > > gaar, > > > > > > > And you people say he has no executive and or/political experience! > > > > > > See how fast he's caught on. > > > > > > > On Sep 17, 2:36 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > > On Sep 17, 11:55 am, jgg1000a <[EMAIL PROTECTED]> wrote: > > > > > > > > > And all the while he tooke the 3rd largest amount of campaign > > > > > > > > cash > > > > > > > > from Fannie Mae and Freddie Mac Lobby money... > > > > > > > > Actually, I believe over the past 10 Years, he is Second. > > > > > > > > And he has only been getting it for just about 4 of those 10. > > > > > > > > Imagine if he had been around for all 10.- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > - > > Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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