Obama Team Wanted "Horrific" Wall Street Headlines

[Trader_Jorge]

How sad is it when you have a campaign openly rooting for Wall Street's collapse? The Obama campaign apparently believes that they benefit from bad news. The sad reality is that Obama's response to this financial crisis is simply to raise taxes and limit free trade -- hardly relief. What a pathetic joke Obama has become. I'm glad he got called out for openly rooting against the American economy and Americans' nest eggs... Country first? Hardly for Obama...

http://media.newsbusters.org/stories/cnns-crowley-obama-team-wanted-horrific-wall-street-headlines.html

Transcript from CNN:
DAVID GERGEN, CNN SENIOR POLITICAL ANALYST: But what happened over the weekend with the economy and the bottom falling out of the financial markets -- and we have been saying for some time on this program this is the worst financial crisis since the Depression -- Alan Greenspan said on Sunday the worst economic situation he's seen -- it seems to me that there's a real turning point now, that that momentum on McCain's side is likely to fade. And there is the opportunity for Obama to seize the momentum back on his side. I don't know if he's going to do it or not. He is trying. McCain has an opportunity here as well. But there's no question right now that this -- this really dark economic situation is now going to be -- is going to really -- is going to, I think, blot out a lot of this question about who -- the backing-and-forthing and the advertising, and focus on the issues.

ANDERSON COOPER, HOST: Right.

GERGEN: And that's what -- that's what Obama has wanted to do. He's now got the opportunity.

I think, personally, he's got the critique down, but he still hasn't provided a message about what he would do, nor has he really surrounded himself, in the way he needs to, with the Bob Rubins and the Paul Volckers and the Larry Summers and Laura Tysons, and have them as a tight unit. I think he still has to do that.

COOPER: Candy, no doubt -- very quickly -- on the campaign trail, it obviously played a big role today. You anticipate, in the days ahead, issue number one, it's going to be front and center?

CANDY CROWLEY, CNN: Oh, absolutely.

I mean, listen, just as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street.

COOPER: Right.

CROWLEY: I mean, this is what they wanted. They believe, of course, that the economy is one of their strengths and that they can paint John McCain as George Bush.

[SamFisher]

Poor Jorge. A decimated portfolio (I can assure he has been long financials and energy the last few months) and no electricity, and the result is this weak effort from his blackberry before it juices down.

SOOO SADDDDD.

[rimrocker]

SOOO SADDDDD.

I agree. Besides an intentionally misleading thread title and intentionally absurd interpretation of the discussion of third parties, there's really nothing here worth commenting on. I truly wish TJ would post in some of the economics threads and enlighten us with his superior knowledge on all things financial. I'm particularly interested in his views on privatizing Social Security.

[Groogrux]

Poor Jorge. A decimated portfolio (I can assure he has been long financials and energy the last few months) and no electricity, and the result is this weak effort from his blackberry before it juices down.

SOOO SADDDDD.

I agree. Besides an intentionally misleading thread title and intentionally absurd interpretation of the discussion of third parties, there's really nothing here worth commenting on. I truly wish TJ would post in some of the economics threads and enlighten us with his superior knowledge on all things financial. I'm particularly interested in his views on privatizing Social Security.


DFTT.

[Baqui99]

I heard Obama hates Jesus and puppies.

[ChenZhen]

wow...I love the subject..."Horrific" in quotes... :D

Everything is "Technically" correct except that they are not with the obama team. They are CNN correspondents. Well the "Liberal media" is "technically" considered as obama's team so actually this thread is 100% true.

[Rashmon]

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[gifford1967]

I agree. Besides an intentionally misleading thread title and intentionally absurd interpretation of the discussion of third parties, there's really nothing here worth commenting on. I truly wish TJ would post in some of the economics threads and enlighten us with his superior knowledge on all things financial. I'm particularly interested in his views on privatizing Social Security.


tater_j won't post in the economics threads because he can't face up to the fact that this whole debacle is the inevitable result of the Republican deregulation fetish.

[Master Baiter]

McCain Team Wanted "Horrific" Yemen Terrorists Attacks Headlines

[ChenZhen]

I heard Obama hates Jesus and puppies.

I actually heard no way in hell Jesus will vote for Obama. He lost a big endorsement right there.

[Master Baiter]

I actually heard no way in hell Jesus will vote for Obama. He lost a big endorsement right there.
Jesus supports deregulation and ANWR drilling.

[ChenZhen]

Jesus supports deregulation and ANWR drilling.

This is BS! Link please?

[Baqui99]

This is BS! Link please?

I also heard that Obama brought more than 10 items to the Express Lane at HEB.

[Master Baiter]

This is BS! Link please?
Link (http://av1611.com/kjbp/kjv-bible-text/index.html)

Kind of a long read.

[Trader_Jorge]

As the Democrats cover their ears and scream NA NA NA about this damning evidence that Obama is rooting against the economy, McCain is out on the trail landing haymakers on Obama. It's amazing how deeply Obama was tied in with Fanny and Freddie... makes you wonder...

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- Obama claimed the "stimulus package" was his idea. That's new to those of us in Congress who supported it. Obama didn't even show up to vote on it.

- Obama took more money from Fannie Mae and Freddie Mac people than anyone else but the chairman of the committee they answered to.

- Obama put Fannie Mae CEO who helped creat this problem in charge of finding his Vice President.

[ChenZhen]

I also heard that Obama brought more than 10 items to the Express Lane at HEB.

Is it because he can't count or because he got impatient with his temper?

[pgabriel]

I agree. Besides an intentionally misleading thread title and intentionally absurd interpretation of the discussion of third parties, there's really nothing here worth commenting on. I truly wish TJ would post in some of the economics threads and enlighten us with his superior knowledge on all things financial. I'm particularly interested in his views on privatizing Social Security.


the free market rhetoric won't go over that well right now

[JunkyardDwg]

OBAMA claimed... OBAMA took... OBAMA put...


Serious question, is the only thing I'm gonna hear coming out of McCain's mouth is what's wrong with Obama?

Perhaps you should take a look at this thread: http://bbs.clutchfans.net/showthread.php?t=154099

Obama is actually providing real solutions. If McCain has I'd love to read about it.

[robbie380]

As the Democrats cover their ears and scream NA NA NA about this damning evidence that Obama is rooting against the economy, McCain is out on the trail landing haymakers on Obama. It's amazing how deeply Obama was tied in with Fanny and Freddie... makes you wonder...

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/XZqn2nog_S8&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/XZqn2nog_S8&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>


- Obama claimed the "stimulus package" was his idea. That's new to those of us in Congress who supported it. Obama didn't even show up to vote on it.

- Obama took more money from Fannie Mae and Freddie Mac people than anyone else but the chairman of the committee they answered to.

- Obama put Fannie Mae CEO who helped creat this problem in charge of finding his Vice President.


hey jorge how is your paper trading account doing?

[mc mark]

http://assets.nydailynews.com/img/2008/09/17/gal_bramhall_09_17.jpg

[white lightning]

Is this the same as Bush needing a terrorist attack on the US so he could invade and occupy Iraq?

[mc mark]

McCain Embraces Regulation After Many Years of Opposition

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091603732.html?hpid=topnews

Tells you all you need to know about McCain's stance on the current crisis.

[dumbartonbass]

Don't buy into the Obama Fannie and Freddie hype since McCain's single largest contributer to this point was Merrill Lynch.

[Trader_Jorge]

One of Obama's largest contributors is the now bankrupt Lehman Brothers. And of course Fannie and Freddie have donated more money to Obama than any other candidate except one other Democrat...


McCain on the other hand, had the VISION in 2005 that this would occur. He was spot on. What was Obama doing back then -- was this part of his 100 days in the Senate prior to putting on make-up and running for President?

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.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.

[surrender]

Dodge, duck, dip, dive and dodge

[rimrocker]

One of Obama's largest contributors is the now bankrupt Lehman Brothers. And of course Fannie and Freddie have donated more money to Obama than any other candidate except one other Democrat...

Those people are employees and Americans. As such, they have the right to donate to whom they choose. Obama's raised a bunch of money from Americans across all walks of life. No surprise that a Presidential candidate would raise a bunch... and maybe they donated because they recognized the problem and thought he was the one to fix it.

And by the way, according to OpenSecrets.org, Obama had one of the smallest totals of contributions from the Frannie/Freddie PACs... the third lowest of the Top 50 lawmakers. Again, the bulk of his came from individuals.

http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html

(Also, Johnson was head of Fannie Mae from 1991-1998. That's like saying Eisenhower is responsible for our crumbling interstates.)

For grins, here are the top ten employer sources of contributions for McCain and Obama...

McCain:

Merrill Lynch
Citigroup Inc
Morgan Stanley
Goldman Sachs
JPMorgan Chase & Co
AT&T Inc
Blank Rome LLP
Credit Suisse Group
Greenberg Traurig LLP
UBS AG

Obama:

Goldman Sachs
University of California
Citigroup Inc
JPMorgan Chase & Co
Harvard University
Google Inc
UBS AG
National Amusements Inc
Microsoft Corp
Lehman Brothers

[pgabriel]

and by bulk

$120K out of $126K

[Sweet Lou 4 2]

Alas - the real reason TJ won't take the bet becomes apparent.

It's not because he fears mccain will lose. Nor that he wants equality by asking that 15 other posters counteract himself to make it fair.

The real truth is that all of the pleasure TJ gets from life is to take the piss out of liberals here with these threads that are just so stupid but incedinary enough to rile the skin of those on the left.

He can't give that up.

[Chief Rocka]

Yup, He would not know what to do with himself.......

[cson]

I'ma votin' fer McCain then!

http://www.rightblueeye.com/blog/wp-content/uploads/2007/01/HillbillyTeeth.jpg

[Sweet Lou 4 2]

One of Obama's largest contributors is the now bankrupt Lehman Brothers. And of course Fannie and Freddie have donated more money to Obama than any other candidate except one other Democrat...


McCain on the other hand, had the VISION in 2005 that this would occur. He was spot on. What was Obama doing back then -- was this part of his 100 days in the Senate prior to putting on make-up and running for President?

of course, what you fail to mention is that mccain helped make this happen - by allowing institutions to dip their hands in both insurance, real estate, and financial - now everyone can see why there has been strong barriers since 1933. Thanks McCain.

Also, McCain's advisor pioneered deruglation of predatory loans as well as deregulation on deriatives - this after speculation on derivatives caused a market crash in 1994.

so - talk about vision. The wrong kind of vision i'll say.

[IROC it]

Dodge, duck, dip, dive and dodge

Now, if you'll stop being so reactionary and spouting nonsense...

If you would bother to look beyond the Obama talking points and the doom and gloom MSM... you'd see that the "fundamentals" of the economy ARE OK. You'd also notice that the economy is still growing.

http://www.nuwireinvestor.com/blogs/investorcentric/2008/08/us-economy-grew-33-percent-in-q2-but.html


If you look past the Obama hysteria and "the sky is falling" Biden... you'd see that this "crisis" was born of pseudo-socialist mortgage lending… "everyone" gets a house... even if they can't afford one"... programs... known as Fannie Mae and Freddie Mac.

If you are going to blame someone or something for this “crisis” place it accordingly… you might be very surprised where that blame belongs.
McCain Proposed Solutions to Fannie/Freddie Years Ago:
http://www.freerepublic.com/focus/f-news/2083931/posts

Update: Fannie Mae and Freddie Mac Invest in Lawmakers
http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html

Name, Office, State, Party, Grand Total, Total from PACs, Total from Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900

Obama, Barack S IL D $126,349 $6,000 $120,349

Kerry, John S MA D $111,000 $2,000 $109,00

Reid, Harry S NV D $77,000 $60,500 $16,500
Clinton, Hillary S NY D $76,050 $8,000 $68,050
Schumer, Charles ES NY D $24,250 $1,500 $22,750
Durbin, Dick S IL D $23,750 $14,000 $9,750


McCain, John S AZ R $21,550 $0 $21,550

Despite being in Congress only a couple of years, Barack Obama has received over $126,000 from PACS and employees of Fannie May & Freddie Mac.
John McCain, in the Senate for 25 years, has received just $21,000.
Obama’s running mate, Joe Biden, brought up the rear during the period reviewed, receiving just one donation from one Freddie employee of $500. McCain's running mate, Alaska Gov. Sarah Palin, is Freddie- and Fannie-free, having never run for federal office.

AIG is the same. Dodd and Obama are #1&2 with Mack being a close 3rd to Obama.

[pgabriel]

dude, your pseudo socialist mortgage lending was encoraged by your less than pseudo qualified president to prop up the economy. and i guess you're going to totally ignore that obama's donors were individuals from freddie/fannie

[IROC it]

and i guess you're going to totally ignore that obama's donors were individuals from freddie/fannie


The same ones he appointed to pick his Veep nominee?


IN BED WITH THE PROBLEM

[pgabriel]

The same ones he appointed to pick his Veep nominee?


IN BED WITH THE PROBLEM


I don't know, but that's neither here nor there, biden was in the running for vp all along, he was a presidential candidate in 04 and 08 and even before. s

[IROC it]

I don't know, but that's neither here nor there, biden was in the running for vp all along, he was a presidential candidate in 04 and 08 and even before. s


Ummm... yeah, okay... the same guy who can't write his own speeches? Oh wait, we talkin' about plagiarizing Obama or plagiarizing Biden here? There's a trend here...


But I digress, to respond to your duck, dodge and dive...



Know facts people. They are public record. Don't let the Obama machine play illusionist games with you. Ask tougher questions and seek the facts that our own government makes public.

[pgabriel]

Ummm... yeah, okay... the same guy who can't write his own speeches? Oh wait, we talkin' about plagiarizing Obama or plagiarizing Biden here? There's a trend here...


But I digress, to respond to your duck, dodge and dive...



Know facts people. They are public record. Don't let the Obama machine play illusionist games with you. Ask tougher questions and seek the facts that our own government makes public.

what duck and dodge, for you to allege that Fannie Mac is responsible for biden being obama's vp pick like he's a pawn novice govenor from alaska who has no national experience who has to be hiden from the press who doesn't know the bush docterine is ridiculous.

biden is a legitimate choice for vp, has been from day one, no matter who's responsible for the pick

[Rashmon]

Ummm... yeah, okay... the same guy who can't write his own speeches? Oh wait, we talkin' about plagiarizing Obama or plagiarizing Biden here? There's a trend here...


But I digress, to respond to your duck, dodge and dive...



Know facts people. They are public record. Don't let the Obama machine play illusionist games with you. Ask tougher questions and seek the facts that our own government makes public.

Keep up the good fight IROC it.

Sounds like this stuff is keeping you up at night.

Obama possesses you.

If you go to sleep you will be replaced by a seedpod replication.

It's okay.

Join us.

Drink up.

[rimrocker]

OK.

Let's assume our friends on the right are right and that the individual contributions from employees of the companies is a big deal. What then, to make of the fact that the McCain campaign currently employees 177 lobbyists as aides, policy advisers, or fundraisers and of those, at least 83 have recently lobbied for the Financial sector?

Among these 83 lobbyists are McCain's chief political adviser, Charlie Black (JP Morgan, Washington Mutual Bank, Freddie Mac, Mortgage Bankers Association of America); McCain's national finance co-chairman, Wayne Berman (AIG, Blackstone, Credit Suisse, Fannie Mae, Freddie Mac); the campaign's congressional liaison, John Green (Carlyle Group, Citigroup, Icahn Associates, Fannie Mae); McCain's veep vetter, Arthur Culvahouse (Fannie Mae); and McCain's transition planning chief, William Timmons Sr. (Citigroup, Freddie Mac, Vanguard Group).

http://www.motherjones.com/mojoblog/archives/2008/09/9753_mccain_campaign_lobbyists_wall_street_aig.html

Now, which is more insidious? Taking individual contributions while eschewing PAC money or using lobbyists to staff your campaign? Tough call.

[DonnyMost]

Join us.

Drink up.

http://1inkz.files.wordpress.com/2007/10/darkside.jpg

[TexasFight]

I heard Obama hates Jesus and puppies.

No - that's Bob Stoops.

[IROC it]

If you would look into it further, you'll find that yes, McCain took personal donations... but Obama took money of a different kind.









I own you... not the other way around. You have all just finished responding to me.


You's a farce. *puke*



motherjones? Mother Jones? Hahahahaha... real unbiased. :rolleyes:

[rimrocker]

If you would look into it further, you'll find that yes, McCain took personal donations... but Obama took money of a different kind.









I own you... not the other way around. You have all just finished responding to me.


You's a farce. *puke*

Responding is generally the way humans start discussions about things... otherwise, you'd just have idiots blathering to themselves.




motherjones? Mother Jones? Hahahahaha... real unbiased. :rolleyes:

The piece was not an opinion, but rather a recitation of facts. Which of the registered lobbyists on the McCain campaign do you dispute?

[Oski2005]

IROC it is buzzing around thread to thread like a humming bird. It's like he just got a shipment from one of Wasilla's many, many, many, many, meth labs.

[IROC it]

IROC it is buzzing around thread to thread like a humming bird. It's like he just got a shipment from one of Wasilla's many, many, many, many, meth labs.

You know me...

http://img249.imageshack.us/img249/4617/hillfailqb8.jpg