Tuesday, October 7, 2008

Fannie/Freddie, etc...

I have been watching with great interest the congressional hearings on CEO pay and "Golden Umbrellas" and how ridiculous it is that these CEOs are being compensated so highly when a company fails and they are forced to leave. To preface the following comments, I FULLY AGREE with that and am disgusted with the way these guys have done business. I think they should all be locked up. I think McCain needs to fire Rick Davis IMMEDIATELY! I also think that Barack Obama needs to call out members of his own party who BLOCKED the regulation of Fannie Mae and Freddie Mac back in '03, '05 and '06. Bush, McCain and other prominent republicans went against the grain of their belief system to recommend that these two government controlled lenders be held to tight regulations. Chris Dodd, Barney Frank and others in congress blocked these tighter regulations. Why? Well at least in the case of Chris Dodd, it may have been the large campaign contributions that he received, over $150,000.00. Second only to Chris Dodd in contributions from Fannie/Freddie is your beloved Barack Obama. Not to mention that a top execusive of Fannie was the top consultant on Obama's VP selction comittee. Forget about Ayers and the others... Let's look at the judgement of a man, a SENATOR, who stood idly by to wait and see what would happen with the huge bailout so he could decide where to be politically when the issue was cleared up. McCain, as much as you may not like it, went in and got House republicans to the table and convinced MANY to vote for this very important legislation. Truth is that MANY MORE would have voted for it had Nancy Pelosi not torpedoed it on the floor just before the vote with a VERY devisive and partisan speech. Let's not forget that Obama FAILED to get Pelosi on board. Many believe that it was on purpose to make sure that enough republicans would vote against the bill that democrats could blame McCain for the failure. Is it out of the realm of reality to think this? I wish it were, but this is the most divisive and do nothing congress in history. They've been doing nothing for the last two years but waiting for this election cycle. Let's tell them that we will not let this go by without kicking their political asses out!

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