Comments on: McCain Blames Recession On Wall St.

Candidate Says Deregulation Spurred Economic Growth, Didn't Cause Collapse

[apostasyusa]

In the last 8 years or so Republicans have shown me that they will do anything and everything in their power to keep you from retaining an opinion based on the facts that their incompetence is comprised of.

The trillion plus we waste in Iraq could have done so much more for our security or economy if spent on just about anything else.

We might not own Iraq but we certainly are paying for it.

[dburfears]

Apologies for repeat post- blame it on CBS'' wonky "publish" function. Unlike McCain blaming wall street- this IS someone else''s fault. LMAO

[dburfears]

McCain and his cabal of insiders are to blame. Nice try attempting to blame someone else.

EXAMPLE:

McCain CAMPAIGN MANAGER RICK DAVIS took MILLIONS from Failed Financial Companies to FIGHT REGULATION OF THE FINANCE INDUSTRY.

Senator John McCain%u2019s campaign manager, Rick Davis, was paid more than $30,000 a MONTH for five years (almost $2 MILLION) as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

McCain has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain%u2019s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions.

[dburfears]

McCain and his cabal of insiders are to blame. Nice try attempting to blame someone else.

EXAMPLE:

McCain CAMPAIGN MANAGER RICK DAVIS took MILLIONS from Failed Financial Companies to FIGHT REGULATION OF THE FINANCE INDUSTRY.

Senator John McCain%u2019s campaign manager, Rick Davis, was paid more than $30,000 a MONTH for five years (almost $2 MILLION) as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

McCain has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain%u2019s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions.

[easeup-2009]

I think LSU is by far the leader in the SEC, followed by Florida & a rebounding Alabama.

[apostasyusa]

The Death of the Republican Philosophy...

Last week was historic. It is a week that financial and economic people will study for generations. It also marked the end of certain elements of the Republican Party''s ideology. Below are statements the Republican party can no longer claim as part of their core ideology.


*We Are the Party of Fiscal Responsibility:

No they aren''t. No Republican president has ever balanced a budget. While Republicans have argued that Reagan had to contend with Democrats, Bush II did not for 6 years. Under this scenario where the Republicans controlled all branches of government they never even came close to balancing a budget.

*We are the Party of Personal Responsibility:

No you''re not. When companies make really stupid decisions the Federal government bails them out. Just ask any shareholder of AIG. Or any taxpayer who will now help to finance the latest government bail-out.

Simply put, last week demonstrated a key point: when the going gets tough, the Republicans become socialists:

If you are a fan of irony, consider this: The conservative movement has utterly hated FDR, and his New Deal programs like Medicaid, Social Security, FDIC, Fannie Mae (1938), and the SEC for nearly 80 years. And for the past 8 years, a conservative was in the White House, with a very conservative agenda. For something like 16 of the past 18 years, the conservative dominated GOP has controlled Congress.

Those are the facts.

[publius77]

Omega40:

Can you articulate why you believe Gramm-Leach-Bliley was a mistake?

[jimlayton]

McCain said the longest he has lived in one place was the 5 and a half years in Hanoi?????

I guess Architectural Digest must be a liberal rag, then. In July, 2005 they showcased McCains house in Phoenix and said they had lived there since the mid-1980''s. That would be 20+ years.

http://www.architecturaldigest.com/homes/features/archive/mccain_article_072005

[omega40]

MAJORITY LEADER LOTT''S STATEMENT
ON GRAMM-LEACH-BLILEY ACT

"Mr. President, let me just take a moment at this time, if the Senator would allow me.

"When the history is written of this session of Congress, it will probably identify this piece of legislation as the single biggest achievement. I have heard this financial services modernization issue discussed for my entire career in the Congress, which is now up to 27 years. It has been tried by Republicans, by Democrats in the Congress, House and Senate, administrations of both parties. It never quite occurred.

"I think it is appropriate we commend all of those who have been involved in this process for bringing us to this moment. This legislation is going to pass overwhelmingly. It is going to bring us into the modern era of financial services. It is going to allow us to be more equally competitive around the world.

"I think we should properly note what has happened. If today''s papers are any indication, we passed major trade legislation yesterday and it didn''t even make the first section of one of the papers in this city; it wound up in the business section. It was hardly noted, the effort that was put into passing that major free trade legislation. I hope that will not be the case with this major legislation.

Heh heh, bet Lott wishes he could eat those words.

[publius77]

stoplying08:

Then you were on the cusp of what would have been allowable by most lenders then, given prevailing debt ratios and monthly home allowances used by financial companies. If it worked out for you (and I assume it did), you are fortunate.

[ahhhhhhhaaaa]

Ok, I see that some of you people went FULL ***!!!!! on the issues at hand. You didn%u2019t even go half *** like you were supposed to but you had to go full ***!!!! . Doesn%u2019t anyone understand? We are living in biblical times people!!!!!!! WE OWE OTHER COUNTRIES SO MUCH MONEY, CAN YOU SAY ONE WORLD GOVERNMENT? COMING SOON TO A COUNTRY NEAR YOU!!!!!!!

[publius77]

stoplying08:

Your point (once you strip the rhetoric about Republicans voting together, but not Democrats) is fair--we don''t know how many Democrats would have voted against the bill if Clinton had vetoed it. But we never got to that point--90 Senators approved the final bil versus 8 who voted against it, and Clinton signed it into law. However, the main point raised by my response remains the same: nomav claimed 44 Democratic Senators voted "against deregulation," which is a patently false and misleading charge.

[scorpio59er]

Bush finally fulfills his campaign promise

[Read the article: Growing right-wing opposition to the Paulson plan]
[Read more letters about this article: Here]

He promised way back in 2000 that he would be a uniter, not a divider.

Now, the right wing hates him as much as the left!

Heckuva job, Dubya.

[publius77]

nomav:

Let me help you with a little civics lesson. The Gramm-Leach-Bliley act (which removed the silos built by Glass-Steagall around insurance, commercial banking, investment banking and other financial sectors) was approved by 90 Senators. As you may recall from middle school, in a bicameral legislature a bill can have a different version in each house. Until the differences are reconciled, no bill can be passed (think Schoolhouse Rock). Once the two versions of the G-L-B Act were reconciled in committee and several Democratic concerns had been resolved, the Act passed the Senate 90-8. Clinton then signed it into law--but note that, if he had vetoed it, Senate Democrats could almost certainly have mustered the 34 votes needed to sustain his veto.

That''s where the "bipartisan" comment comes from.

[scorpio59er]

Let us give credit where credit is due.

I nominate Phil %u201CNation of whiners%u201D Gramm, late of the McCain campaign:

In December 2000, Gramm, while a U.S. Senator, snuck in a 262-page amendment to a government re-authorization bill that created what is now the $62 trillion market for credit default swaps (CDSs). Gramm%u2019s %u201CThe Commodity Futures Modernization Act%u201D freed financial institutions from oversight of their CDS transactions.

[publius77]

nomav:

I assume you are trying to make the now debunked argument that Democrats voted against the Gramm-Leach-Bliley Act?

[splainin2do]

So if Wall Street was a Ponzi scheme according to McCain, why did he support the privatization of Social Security throughout the Bush administration?

[publius77]

trytryy:

Early voting is a Rovian plot designed to count all Republican votes several times while disenfranchising minorities and little old Democratic ladies. Halliburton is in charge of monitoring the votes, and running vote totals will be flashing in large, bright numbers across the screen all through the debates. It is all just dirty tricks--that''s the reason you haven''t heard about it before.

[splainin2do]

Last year McCain was just a lonely advocate of the surge. Now he''s the lonely advocate of the fundamental soundness of our economy. Next year he''ll be a lonely senator with eight houses and thirteen cars.

[trytryy]

http://www.usatoday.com/news/politics/election2008/2008-09-21-early-voting_N.htm

Is this early voting in 40 states new?

Is it designed to make one candidate look better than the other BEFORE the debates?

Is there an independent monitor watching how these early votes are getting counted?

Is this how 2008 election may get rigged?

Hmm....