McCain Wanted to Head Off Subprime Mess

The Maverick Conservative reminds us Sen. McCain tried to do something to head off the current mortgage mess and tells us who tried to stop him. Can you spell "Senator Obama?"

MC's post's titled; "McCain Proven Right: Federal Housing Regulatory Reform Act of 2005."

It begins - - -

Barack "World" Obama and Christopher Dodd (he of involvement with Countrywide mortgage, eventually absorbed by Bank of America before it could go under) were the two politicians who received the MOST money from Fannie Maeand Freddie Mac as those "government sponsored entities, as those entities lobbied Congress to BLOCK reform efforts. (I think Sen. Kerry was #1 on the list. - - JinC)

Meanwhile, John McCain co-sponsored the Federal Housing Enterprise REgulatory Reform Act of 2005. That act was BLOCKED by Democrats, along with some of the "goold old boy" Republicans that Palin fought in Alaska.

What's more, McCain PREDICTED the present mortgage problem He made a speech in the Congressional record talking aobuut the accounting fraud at Fannie Mae and Freddie Mac (fraud committed mainly by Democrats).

Not only that, McCain said he was "concerned" about the magnitude of teh role played by these government sponsored entities in our mortgage market, when they were obviously not being vigourously regulated.

As on Iraq, it is McCain who proved RIGHT on Fannie Mae and Freddie Mac and Obama who is on the side of the people who BLOCKED reform. ...

There's more to the post; you can read it all here.

Comments:

Dems say the GOP is the party of "big business." I'm OK with big businesses that play by the rultes. Most of them create jobs and wealth.

I don't like government special interests that set things up so that Clinton appointed heads of Freddie and Fannie walk away from the messs with hundreds of millions of taxpayer money in their pockets and time to serve now as Obama advisors.


Hat tip: BN