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Should Bush and McCain say “I told you so.”?
Posted on May 4th, 2009 17 comments
Mr Krinkle asked:
To the Dems who blocked Bush’s proposed oversight of Frannie and Freddie in 2003.Bush suggested this in 2003.
Under the plan, disclosed at a Congressional hearing in 2003, a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.But the Democrats said:
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts the ranking Democrat on the Financial Services Committee in 2003.http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=print
And since the Dems killed McCain’s creation of an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac).
http://www.govtrack.us/congress/bill.xpd?bill=s109-190
http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary
http://beltwaysnark.com/2008/09/16/john-mccain-supported-a-proposal-for-an-agency-to-oversee-fannie-and-freddiein-2005/
LEONElections Barney Frank, Federal Home Loan, Federal Home Loan Bank, Federal Home Loan Banks, Federal Home Loan Mortgage, Federal National Mortgage, Financial Services Committee, Home Loan Bank, Home Loan Banks, Home Loan Mortgage, Home Loan Mortgage Corporation, John Mccain, National Mortgage Association, Representative Barney Frank, Us Congress17 responses to “Should Bush and McCain say “I told you so.”?”
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Thank you.
McCain saw this coming 3 years ago.
McCain:
“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.”
Source: the Congressional Record.
Obama is promising change and promises everyone everything. Go ahead think of something you want….I guarantee Obama has promised it.
Obama is running an extremely stereotypical campaign. Promise change and everyone everything. He did add a twist….he is a minority. This will work on the ignorant.
Remember the kid who ran for class President in High School. He/She promised less homework, longer lunches, easier homework, cheaper school lunches, and you could even share the teacher’s lounge once a week. Did you fall for it?
How many out their are that ignorant???
The election has me furious. I thought the American people were smarter than this.
Did you know I have an award for performance from 2005 that was given to every manager in my company for outstanding performance. It went down hill after that year. Why? The Dems took congress and had an agenda. Get a Dem elected. How? By making Bush look as bad as possible.
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peachy May 6th, 2009 at 03:59
Mr. Krinkle - you are absolutely right! I don’t like “I told you so’s” but this is one time it’s due. You probably won’t get any coherent, logical, or intelligent dem replies…they have no “answer.” Thanks for pointing it out to them anyway!
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Jedi Master AJ May 6th, 2009 at 04:01
Hey genius,
Republicans never wanted to regulate fannie and freddie. Since the government backed all of their loans, freddie and fannie were really ran by the government.
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Mack & Sarah 08 May 7th, 2009 at 05:51
They should be SCREAMING ‘I TOLD YOU SO’…..
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Ethel M May 8th, 2009 at 09:35
Because that’s not the problem. McCain only said it because his lobbyist friend got fired from Freddie and Fannie. It was payback from McCain to only score political points. Deregulation is McCain’s name.
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Rheneas May 9th, 2009 at 02:09
Yes, I wish they would put an ad out about this.
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JP617 May 11th, 2009 at 13:24
Bush can’t tell “I Told You So” to anybody because he is the reason the country is in an economic crisis. Instead of sending money to Iraq, he should be putting that money back in the country.
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It's me, Barry! May 14th, 2009 at 07:23
Ron Paul has been predicting this for decades.
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Princess Catfish May 15th, 2009 at 08:39
No McCain should not say I told you so…because as long as the voters know he could see that far ahead, that’s all that matters…
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mommy May 17th, 2009 at 10:10
Yes they should….But everyone wants to blame Bush….
No one is Laughing though
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Chick-a-deester May 19th, 2009 at 09:47
Yeah that’s the ticket. Blame the Democrats for mess Republicans created. Did it not occur to you that no legislation has been passed into law the past two years that was not approved by the President. So please remind me of the point you were making about WHO to blame?
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I hate stupidity and ignorance May 21st, 2009 at 19:20
And the dem’s say that Bush is stupid…. he has his smart moments… even if they are far and few between…. and this is why I am going to vote for McCain he apparently knows more than he lets on sometimes…
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William S May 22nd, 2009 at 20:35
Obama supporters don’t want facts, they just listen to whatever Obama tells them to listen to.
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tim d May 24th, 2009 at 22:28
They are to busy blaming Bush because that’s what the media tells them.
The sad thing is the level of Democrat involvement in the whole thing and the monies they have received from these entities. This whole thing stinks and a whole lot of it smells like rotten, crooked Democrats.
I really hope the conservative republicans block the bail out and let these companies fail. -
Marvin the Martian May 26th, 2009 at 20:25
The government should stop underwriting risk. It’s well and good our little ship of state stops to pick up everything floundering the sea, but add enough weight and the whole thing sinks.
The phrase for the day is “moral hazard”
When someone else bears the risk of mistakes, people are more likely to take foolish chances, like making loans to people with no verifiable credit history or who clearly cannot make the payments.
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Sapphire May 26th, 2009 at 21:29
Hahahaha….McCain will be the next President.
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Cindy M May 28th, 2009 at 07:45
GW should call a press conference just to say I told you so and McCain now needs to make this a huge issue for the rest of the campaign & start naming names. Stop letting the retarded democraps try to put the blame on the Republicans…they need to grow a set or a back bone or whatever they need and stand up to them…stop letting them get away with this crap.
And while they are at it they should be screaming for Rangel’s resignation. How do you head the committee that writes the tax code and not know what you need to pay taxes on. So much for Pelosi’s transparent & ethical congress.
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Adam May 5th, 2009 at 20:55