Monday, October 06, 2008

McCain preparing to place the blame of the financial crisis where it truly belongs starting tomorrow night.

The gang over at Restate obtained a statement today from the McCain camp stating they will be going nuclear on the Democrats that were actually responsible for the collapse of Fannie and Freddie as well as the Democrats that tried to obstruct the regulator from doing his job. McCain should have done this from day one, but better late then never. Finally it looks like he realized that kumbaya politics won't work. Obama has been enjoying a bump in the polls thanks to falsely placing the blame for the economic mess on McCain via Bush. It looks like the McCain folks finally figured out what is going on. This is just a sample of what is going to be coming out very soon.

enator Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed. But the truth is I was the one who called at the time for tighter restrictions on Fannie Mae and Freddie Mac that could have helped prevent this crisis from happening in the first place.

Senator Obama was silent on the regulation of Fannie Mae and Freddie Mac, and his Democratic allies in Congress opposed every effort to rein them in. As recently as September of last year he said that subprime loans had been, quote, “a good idea.” Well, Senator Obama, that “good idea” has now plunged this country into the worst financial crisis since the Great Depression.

To hear him talk now, you’d think he’d always opposed the dangerous practices at these institutions. But there is absolutely nothing in his record to suggest he did. He was surely familiar with the people who were creating this problem. The executives of Fannie Mae and Freddie Mac have advised him, and he has taken their money for his campaign. He has received more money from Fannie Mae and Freddie Mac than any other senator in history, with the exception of the chairman of the committee overseeing them. Did he ever talk to the executives at Fannie and Freddie about these reckless loans? Did he ever discuss with them the stronger oversight I proposed? If Senator Obama is such a champion of financial regulation, why didn’t he support these regulations that could have prevented this crisis in the first place? He won’t tell you, but you deserve an answer.

I hope that Palin echos the same as well. Since tomorrow night's debate format favors McCain being the Townhall format, it will be very nice to see Obama on the defensive trying desperately to defend his party but also his connections to Franklin Raines.


Blogger ZACK said...

The blame for the crisis starts with US. We are the ones who walk past the Wall Street Journal and don't read it. We are the ones who read documents AFTER we sign them. We are the ones who only discuss politics as a nation every leap/election year.

Yes, the politicians are at fault as well. But we can't just limit the blame to one party. EVERYBODY'S at fault for what's happening.


I've been here before, but I was sent here by Terry Roadhouse.
Interesting blog.

1:09 AM  
Anonymous Anonymous said...

I was once a conservative, even voted for Bush senior and yes I am black. I left the party when it decided to go right. I am well aware of the right and they by no mean are an inclusive group.
I agree with Zack. I own two gorgeous homes in predominantly white neighborhoods. One I built in 95 and paid for in 11 years, the other I built in 06 and will pay for in 8 more years. Both in quiet gated communities so you can figure my combined HOA dues are the size of a small mortgage. I came from abject poverty in the deep south so poor I left home at 14 to ease the pressure on the rest. I am a college grad, Magna cum laude. I am not a lib, but more a centrist Democrat. I am against abortion but support a womans right to choose over that.
If you feel dems are living with a slave mentality, then they are field negroes, but is your house negroe mentality any better. I have achieved my success without ever taking a handout and I am a Democrat. My wife is a college grad and we paid for her education as well. She graduated Summa. We are in the 5% club so do not confuse the party afiliation with a low desire to achieve. Trickle down does not work. It is insulting to think we who choose affiliation with the democratic ticket are any more a slave than those who choose GOP knowing the right exist. These are "christians" that call you _nigger and mean it.
Wake up is right, but who is asleep?

11:42 PM  

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