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Gosh, I bet it just burns you up inside that a majority of Americans would rather vote for a furriner who hangs out with terrorists and redistributes wealth than put up with four more years of Republican incompetence.
That would be class war. Class transcends race.Race War!!!
Fannie and Freddie didn't start the meltdown... you are WRONG!!!!!
Great...another self loathing Gay Republican... WHAT a waste.
Republican incompetence? Is that like democrat incompetence in the form of not one democrat would support John McCain and other republicans on reforming/regulating Fannie Mae/Freddie Mac long before they started the meltdown? That kind of incompetence? Where was Obama and his leftwing friends when this needed "change" = I will answer that for you, he was doing zero like usual.
Now, the article was written by an advisor to the McCain campaign, not by one of the Bloomberg staff.Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
Not only does it fail to improve significantly upon the regulatory authority of the Office of Federal Housing Enterprise Oversight (OFHEO), but it actually increases the opportunities for Fannie and Freddie to exploit their subsidies in order to expand into other areas of residential finance. While the bill makes some modest improvements to the weak regulatory structure of OFHEO today, these improvements do not bring the authority of the new regulator of Fannie Mae and Freddie Mac to the level currently exercised by federal bank regulators. Moreover, the deficiencies of the bill so far outweigh its modest regulatory improvements that the taxpayers and the economy generally would be better off with current law. [...]
One of the worst features of H.R. 1461 requires the GSEs to create affordable housing funds with 5% of their profits in each year. This will amount over time to billions of dollars for each GSE. While low income housing groups welcome this support, there is a darker side. The bill allows the GSEs to control these funds, enabling them to further increase their political power by allocating billions of dollars to their supporters in the mortgage market and away from those with whom they have policy or other disagreements. Undoubtedly, much of the largess will flow to the congressional districts represented on the financial services committee.
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Gosh darn those pesky Democrats: even with too few members to form a majority, they stopped a bad bill cold before John McCain even got around to putting his name on it!
So what? They bore me too.McCain & Palin are not cut from the same cloth. Not by a longshot.
BO: 'I'm not interested in the suburbs. The suburbs bore me'...