is reduced to stammering about how his staff can handle the details, what a big plane he has, and this is just an “iffy” situation anyways…
Whoopsy!
It’s not like John McCain hasn’t been here before.
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.
Hello? That bill was introduced in January 2005 and was blocked by Democrats. That’s not the only time Democrats have screamed Don’t You Dare Touch Fannie and Freddie! You big MEANIE RETHUGLICANS! You don’t want poor people to have the house of their dreams! Meanies!
”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. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
Barney Wormtongue Frank mewling about financial crisis mongering then; a man who was literally in bed with a Fannie Mae executive, and is now complaining that McCain should just shut up and let Barney handle it.
Because, yeah, Barney and the Dems have handled the growing Fannie/Freddie debacle so well these past five years.
Meanwhile, Prince Feckless, who was loudly crowing about his qualification to be President as a “leader” who “brings people together” (never citing one instance in which he actually did that) is reduced to having to be actually coaxed by to DC.
**UPDATE** Belying Wormtongue, Feckless and Dems claims that McCain went to DC “uninvited” or as “a stunt”–
BOB SCHIEFFER: I am told, Maggie, that the way McCain got involved in this in the first place, the Treasury Secretary was briefing Republicans in the House yesterday, the Republican conference, asked how many were ready to support the bailout plan. Only four of them held up their hands. Paulson then called, according to my sources, Senator Lindsey Graham, who is very close to John McCain, and told him: you’ve got to get the people in the McCain campaign, you’ve got to convince John McCain to give these Republicans some political cover. If you don’t do that, this whole bailout plan is going to fail. So that’s how, McCain, apparently, became involved.
Comment by Dan Collins on 9/25 @ 2:12 pm #
Fwankwy, my deaow . . .
Comment by mojo on 9/25 @ 2:13 pm #
Bumper sticker time:
“Barney Frank Fucked Me”
Comment by thor on 9/25 @ 2:15 pm #
Date that Frank quote, ya propagandist, and you’ll find much trumpeteerring all the way to zero. Then again, exactly how and how fast these tow quasi-govenrment agencies’ equity positions deteriorated is beyond your depth, your propagandist’s pay-grade!
Down here in South Florida all these 30-story majestic towers of upscale condos are filled with toxic mortgages and not low-income FNMA families, deary. This reality is a party dress Darleen won’t wear. It’s so not fashionable at the Rush Limbaugh’s Palm Beach Retiree’s Ball.
Comment by Darleen Click on 9/25 @ 2:21 pm #
Someone doesn’t like to look at the dates on links.
Comment by the wolf on 9/25 @ 2:35 pm #
Obambi seems eager to debate the economy. While McCain and fellow Republicans were anticipating and addressing a foreseeable issue, the Dems had it exactly wrong. McCain needs to hammer that point home early and often.
thor: blabbity blah blah blah
Comment by Peter Nariel on 9/25 @ 2:37 pm #
Remind me, is John McCain on the Banking Committee, or the Financial Services committee? Which one it is will determine what part he plays in drafting the final bill.
Comment by thor on 9/25 @ 2:37 pm #
Add some others. Make ‘em Repubs. How about that FNMA CEO, add his too.
Do you think everyone sees everything through a purely partisan political lens? Sun comes up because of Republicans and goes down because of Dems? Every day. All day. Why do you even bother with the smear cackles? Does it help you build up steam or let out steam? Do they pay you? Are you at war? What??? I’m trying to understand.
Comment by thor on 9/25 @ 2:40 pm #
He’s Commerce. He nor his committee is in play on the bail out.
Comment by Darleen Click on 9/25 @ 2:48 pm #
The whole Senate is in “play” on this. And McCain has actual earned creds as a leader in the Senate. He was a co-sponsor of GSE reform almost 4 years ago and it is ridiculous in the extreme that Barney Frank who has been in the forefront of BLOCKING such reform try to pretend to be qualified to lead the reform effort.
Comment by Rob Crawford on 9/25 @ 2:50 pm #
Schieffer’s full of schit. Reid was whinging just two days ago that absolutely nothing would get passed if it didn’t get McCain’s vote, too. Less than 24 hours later, he was whining that McCain was taking the time to actually show up for the debate and vote.
Comment by Rob Crawford on 9/25 @ 2:51 pm #
Well, that somebody’s a lying whack-job with deep emotional issues, so what do you expect?
Comment by SDN on 9/25 @ 5:10 pm #
FNMA? You mean where Biden’s son was hanging?