September 21, 2008
Obama Attacks McCain on Regulation, Lobby Ties

Barack Obama unloaded on John McCain this morning at a rally in Daytona Beach.The Democratic presidential nominee used McCain’s own words to attack him as an opponent of federal regulation of the banking industry, said his rival’s support for partial privatization of Social Security could jeopardize retirement security for many Americans and fought back on the question of which candidate has closer ties to Fannie Mae and Freddie Mac.Speaking at Bethune-Cookman University at an event highlighting his campaign’s efforts to appeal to women voters, Obama invoked the current financial crisis by taking aim at an article carrying McCain’s name in the current issue of Contingencies magazine, published by the American Academy of Actuaries.

In it, McCain wrote, “Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.”

“So let me get this straight — he wants to run health care like they’ve been running Wall Street,” Obama told the audience. “Well, Senator, I know some folks on Main Street who aren’t going to think that’s such a good idea.”

As far as lobbying ties go, Ed Morrissey’s got the goods:

Back we go to this tedious subject about which few voters much care but which The One, lacking any compelling evidence that he’ll bring a new type of politics to Washington, loves to invoke as proof of his immaculate Change-iness. Unlike the insiders, you see, he doesn’t take money from federally registered lobbyists or special interests, and from now on neither will the Democratic Party. Except that he does sometimes take money from federally registered lobbyists; and so does the Democratic Party, per its congressional reelection committees; and he’s overflowing with cash from employees of special interests, including employees of those dastardly oil companies; oh, and needless to say, he misleads voters about all of this by choosing his words very, very carefully even while he’s busy tossing out zingers about McCain’s lobbyist “old boys network.” (Get it?)

But if none of those earlier posts penetrated and you’re looking for a concise, all-in-one recap of The One’s cynicism on this point, dive into Matthew Cooper’s piece for Portfolio

Meanwhile, Gateway Pundit rounds up the Bush Administration’s numerous calls for greater oversight of Fannie and Freddie.

It was Congress that was responsible for not pushing more oversight on Fannie and Freddie, and as we know, Obama was one of the top recipients of Fannie and Freddie cash.

1 Comment  :::   Post a comment »

  1. Comment by David M on 9/22 @ 4:44 pm #

    Why is it that Obama has taken more money in a shorter time that ANY OTHER CANDIDATE? Why is it that ACORN, who started this who debacle, is the group Obama has been in with since the beginning. Why is it that we blame Bush when it is Dodd and Franks who have run the commitee’s for not just 3 years but 8 years?
    Has anyone looked on Obama’s site lately? any sign of his Economic advisors? No, he took off the ones who made MILLIONS duping the government and cooking the books,
    The Democratic congress is socialist and they are loving this nationalism. You know it is bad when Hugo Chaves says that we are doing “A good thing” by nationalizing!!

    This scares the heck out of me and if Obama gets in we will have more and more socialization and nationalism

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