Once I built a stage, like those of old Rome Of lights, and fireworks, and rage Once I built a stage, of Styrofoam Buddy, can you spare some Change? John McCain, who foresaw the need for the surge long before anyone else, also spotted the problems w/ Fannie and Freddie: McCain, 25 May 2005, speaking to the Senate: 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. The legislation was blocked by Democrats in congress, as well as some Republicans. Once in (empty) suits, gee we looked swell Full of that changey, hopey, pablum Milions of taxpayers are going through hell James Johnson, and Franklin Raines, both former CEOs of Fannie Mae are, or until recently were Obama advisors The two Fannie CEOs who did the most to corrupt the company, Franklin Raines and Jim Johnson, have close ties with Obama. Raines is one of Obama’s ranking economic advisors. Jim Johnson was actually in charge of vetting Obama’s potential running mates until Obama responded to public pressure and threw Johnson under the bus where he now resides comfortably with Tony Rezko. I was the kid with the drum! Obama has received more contributions from Fannie and Freddie than any senator save Chris Dodd, who needed 20 years, while Obama has achieved his feat in just four. Buddy, can you spare some CHANGE?
its great that clutch let you back to start threads on topics already being discussed. we really missed it http://bbs.clutchfans.net/showthread.php?t=154102&page=2&pp=20
Welcome back indeed. http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091603732.html?hpid=topnews
The "need" for the surge? Was that back when you were telling us everything was right as rain in iraq and that the media was lying to us that the surge was needed at all? That's the second time in less than 24 hours that I have caught somebody in this lie. It wasn't 2005, it was 2006. After the housing market collapsed. I thought since you have humiliated yourself repeatedly that you have learned that you can't simply copy and paste from right wing blogs and pass it off as your own without looking like a complete idiot, such as John McCain has looked the last few days.
Wow, Franchiseblade, you're not even going to let him limber up a little? <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/gfmeVg9joNE&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/gfmeVg9joNE&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
See the Library of Congress record below. I've bolded the date for basso- How fitting that basso returns to the D&D with misleading information copy and pasted from wingnuttia. I'm getting all nostalgic.
i see the douchebugging cadre is alive and well... no one wants to comment on Obama's lining his pockets at taxpayer expense? i'm shocked, shocked, i say!
Nobody appreciates you. Maybe you should teach us a lesson, perhaps by making like a tree and getting out of here.
Wow. This place is the bastion of free speech and discussion! I appreciate him not because I agree with what he says, but at least he's willing to go against the beehive that swarms ANYTHING not pro-Obama.
I keep hearing conservatives say this, so why aren't you posting more? TheFreak included. If the liberals on here are such meanies, either post more for your side or quit reading.
Did I understand this correctly? Your 2nd post after returning was an ad hom against me, as I posted a video of a knock-out? Wow. But what do you seek comment on, exactly? "Your" OP was so full of witty little lyrics, I had trouble seeing the point. The point about McCain has been completely debunked, both in the proper thread where this discussion resides, and in your new duplicate thread. Do you want a comment on Obama receiving contributions from Fannie and Freddie folks? If so, I will want to compare exactly what the Obama campaign, and the McCain campaign, have received from said entities. That may take some time, unlike cutting and pasting. Cheers.
The swarm was about his misrepresentation of McCain, and his creating yet another duplicate thread. I would be interested to learn more about Obama's (and McCain's) campaign contributions. Overall, I have been impressed by both the number of individual contributors to Obama, and the relatively small amount of the median contribution. But I would welcome more information on the larger contributors. That is of interest. sorry if this means people can't call me a zombie. Well, people still can and will, if I support Obama.
i guess you are going to totally ignore the fact that this topic has been discussed and that his questions were answered yet he felt the need to start a new thread and when these facts were pointed out to him he still hasn't acknowledged. other than that, we're stomping his freedom of speech
Will basso do the intellectually honest thing and admit that he has posted erroneous information about McCain's statement or will he continue to pretend that it never happened, as he did when he was busted for plagiarism? America awaits.
