Monday, May 3, 2010

The Democrats, Freddie, and Fannie

This is something that I have argued continuously to my Democrat friends of how it is THEIR party that insisted nothing was wrong with Fannie Mae or Freddie Mac and consistently thwarted Republican efforts to further regulate them when the GOP saw this run-a-way train coming down the track.

Now I don't know that regulation was the answer either, but there should have been a criminal investigation into the wrong-doing and cooking of the books under the stewardship of Franklin Raines, who became Obama's economic advisor.

Seems like crooks to the left and far left have found escape in the Obama administration. I challenge any of you open-minded leftists to view the damning videos contained in this posting and tell me where I am wrong on this issue.

It is PRECISELY because of the greed of Democrats in protecting these cash cows that the housing industry collapsed thus providing the initial impetus for our current recession we are now in the depths of over the past two years.

(By the way, my thanks to Lisa for providing the link to this excellent video!)

5 comments:

Dave Splash said...

tell me where I am wrong on this issue.

Franklin Raines was NEVER an economic adviser to President Obama. That lie was dis-proven in 2008 when the McCain campaign first made it up. They met once. Once.

If you begin your argument with a lie, it's kind of hard to take the rest of the posting seriously.

T. Paine said...

Your sources are incorrect, Dave. Raines was an advisor until it became politically expedient for Obama to distance himself from this pariah and thus he threw his friend under the bus, not unlike what he did with his grandmother and his former pastor.

Dave Splash said...

Sorry, but this point will not be conceded by me, because I know I am right. I linked to the article proving what I said is correct. Where is your proof - from a reputable source - that I am wrong.

When the McCain campaign was called out on this lie, they cited a story in the society pages of the Washington Post as their "proof." After being called out on the falseness of the claim, they stopped making it. This story had been buried until you just resurrected it. However, it's no more true now than it was then.

My link is to the same source - the Post. Since it is doubtful that you'll check here is a relevant passage ('Linking Obama to Ex-Fannie Mae Chief Is a Stretch' 9/20/08):

"So what evidence does the McCain campaign have for the supposed Obama-Raines connection? It is pretty flimsy, but it is not made up completely out of whole cloth. McCain spokesman Brian Rogers points to three items in the Washington Post in July and August. It turns out that the three items (including an editorial) all rely on the same single conversation, between Raines and a Washington Post business reporter, Anita Huslin, who wrote a profile of the discredited Fannie Mae boss that appeared July 16. The profile reported that Raines, who retired from Fannie Mae four years ago, had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."

Since this has now become a campaign issue, I asked Huslin to provide the exact circumstances of that passage. She said that she was chatting with Raines during the photo shoot, and asked "if he was engaged at all with the Democrats' quest for the White House. He said that he had gotten a couple of calls from the Obama campaign. I asked him about what, and he said, 'Oh, general housing, economy issues.' ('Not mortgage/foreclosure meltdown or Fannie-specific?' I asked, and he said 'no.')

The McCain campaign is clearly exaggerating wildly in attempting to depict Raines as a close adviser to Obama on "housing and mortgage policy." If we are to believe Raines, he did have a couple of telephone conversations with someone in the Obama campaign. But that hardly makes him an adviser to the candidate himself -- and certainly not in the way depicted in the McCain video release."


So, one meeting in 2005 and a call from a campaign staffer (which resulted in nothing), and that makes him an adviser to Obama? Sorry that doesn't pass the BS test.

T. Paine said...

Raines conveniently denied any significant involvement with the Obama campaign other than admitting in his own words that he received a few call regarding housing and economic matters.

Considering this guy should be in jail for his corruption, right along with Enron executives, why the hell would Obama or members of his then-campaign even CONSIDER calling this criminal for advice?

Further, I believe that Raines was an advisor until McCain brought this out into the light of day. Of course Obama denied it to deflect as much damage as possilbe, just like he denied ever hearing anti-American and racist sermons from Reverend Wright during his twenty year attendance at Wright's church. It does not pass the BS test either.

CNN international, hardly a right wing media outlet, had Raines listed as an advisor:

http://www.ireport.com/docs/DOC-89385

As does World Net Daily and many other sources. I assume you will discount WND immediately as being right wing, but the truth remains that Raines, by his own admission, gave some advice to Obama. I am of the opinion that it was a working relationship that far exceeded a few phone call though.

In any event, Dave, you cannot discount the attached videos of Democrats in their own words, regardless of whether Franklin Raines was or was not an advisor to Obama.

lisa said...

Glad to help the cause TP

Amazing even with facts you can't convince them.
Don't tell Dave but here's another juicy little tidbit:

Bamster let big donor BP off the hook from environmental drilling study.

Oh and don't tell Dave this either that GE owns MSNBC and is set to makes millions off Health Care and Cap and Trade . Not to mention the SEIU thugs and the fair share they are set to get as well off the backs of working Americans with increased costs and rationing. We wouldn't want to ruin that warm and fuzzy feeling he gets from all this government coddling.