McCain lays out financial reform plan
John McCain called this morning for a government trust to work with the private sector and regulators to spot faltering financial institutions and shore them up before they become insolvent and have to be rescued.
Laying out his vision to deal with the Wall Street crisis in Green Bay, Wisc., McCain said the Mortgage and Financial Institutions trust "is an early intervention program to help financial institutions avoid bankruptcy, expensive bailouts and damage to their customers."
McCain also asserted that the Federal Reserve should refrain from bailing out struggling financial firms and hew to its core mission of "responsibly managing our money supply and inflation."
McCain also said he would propose and sign into law reforms requiring more disclosure by financial firms. "An inexcusable lack of financial transparency allowed Wall Street firms to engage in reckless behavior that padded their profits and fattened executive bonuses when times were good, but now imperil the financial security of millions of Americans when their bets turned sour," he said.
The Arizona senator said the regulatory agencies need to be streamlined. And he repeated his call for the head of the Securities and Exchange Commission to be fired. McCain said Christopher Cox is a good man, but accountability needs to return to Washington.
McCain also found time to directly go after Democratic rival Barack Obama over his links to former leaders of Fannie Mae and Freddie Mac and his inaction on a reform bill two years ago before the quasi-public mortgage giants collapsed.
"People like Senator Obama have been too busy gaming the system and haven't ever done a thing to actually challenge the system," he said. "We've heard a lot of words from Senator Obama over the course of this campaign. But maybe just this once he could spare us the lectures, and admit to his own poor judgment in contributing to these problems. The crisis on Wall Street started in the Washington culture of lobbying and influence peddling, and he was square in the middle of it."
The full prepared remarks of the speech are below:
Thank you all very much. It's a great pleasure to be introduced by Governor Sarah Palin -- and I can't wait to introduce her to Washington.
If Governor Palin and I are elected in 46 days, we are not going to waste a moment in changing the way Washington does business. And we're going to start where the need for reform is greatest. In short order, we are going to put an end to the reckless conduct, corruption, and unbridled greed that have caused a crisis on Wall Street.
Here and all across our country, people are wondering what exactly is happening on Wall Street. And with good reason, they want to know how their government will meet the crisis. Clear answers are hard to come by in Washington.
As Senator Obama's leader in Congress memorably put it the other day -- and I quote -- "no one knows what to do." Perhaps given that reaction, it shouldn't surprise us that the Congressional leaders of this do-nothing Congress also said that they weren't going to take action until after the election, claiming that it wasn't their fault. I am hopeful that last night's discussions are a sign they have changed their mind and will take action soon. But any action should be designed to keep people in their homes and safe guard the life savings of all Americans by protecting our financial system.
There are certainly plenty of places to point fingers, and it may be hard to pinpoint the original event that set it all in motion. But let me give you an educated guess. The financial crisis we're living through today started with the corruption and manipulation of our home mortgage system. At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac.
These quasi-public corporations lead our housing system down a path where quick profit was placed before sound finance. They institutionalized a system that rewarded forcing mortgages on people who couldn't afford them, while turning around and selling those bad mortgages to the banks that are now going bankrupt. Using money and influence, they prevented reforms that would have curbed their power and limited their ability to damage our economy. And now, as ever, the American taxpayers are left to pay the price for Washington's failure.
Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The Administration did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal. While Fannie and Freddie were working to keep Congress away from their house of cards, Senator Obama was taking their money. He got more, in fact, than any other member of Congress, except for the Democratic chairmen of the committee that oversees them. And while Fannie Mae was betraying the public trust, somehow its former CEO had managed to gain my opponent's trust to the point that Senator Obama actually put him in charge of his vice presidential search.
This CEO, Mr. Johnson, walked off with tens of millions of dollars in salary and bonuses for services rendered to Fannie Mae, even after authorities discovered accounting improprieties that padded his compensation. Another CEO for Fannie Mae, Mr. Raines, has been advising Senator Obama on housing policy. This even after Fannie Mae was found to have committed quote "extensive financial fraud" under his leadership. Like Mr. Johnson, Mr. Raines walked away with tens of millions of dollars.
Senator Obama may be taking their advice and he may be taking their money, but in a McCain-Palin administration, there will be no seat for these people at the policy-making table. They won't even get past the front gate at the White House.
My friends, this is the problem with Washington. People like Senator Obama have been too busy gaming the system and haven't ever done a thing to actually challenge the system.
We've heard a lot of words from Senator Obama over the course of this campaign. But maybe just this once he could spare us the lectures, and admit to his own poor judgment in contributing to these problems. The crisis on Wall Street started in the Washington culture of lobbying and influence peddling, and he was square in the middle of it.
The financial services industry -- and there are many honest and honorable people who work in it -- plays a vital role in our economy. Mutual fund companies help Americans save for retirement. Banks and lending companies provide the mortgages that help us buy our homes. Investment firms supply the seed money that helps entrepreneurs create tomorrow's jobs. Insurance companies protect us against unknown risks.
Yet as the financial crisis continues and bailouts and bankruptcies mount, it's clear financial firms have lost the trust of the American people. That trust cannot be regained unless we adopt some fundamental reforms. Government has a clear responsibility to act and to defend the public interest. That is exactly what I intend to do.
First, to deal with the immediate crisis, I will lead in the creation of the Mortgage and Financial Institutions trust -- the MFI. The underlying principle of the MFI or any approach considered by Congress should be to keep people in their homes and safe guard the life savings of all Americans by protecting our financial system and capital markets. This trust will work with the private sector and regulators to identify institutions that are weak and fix them before they become insolvent. The MFI is an early intervention program to help financial institutions avoid bankruptcy, expensive bailouts and damage to their customers. This will get the Treasury and other financial regulatory authorities in a proactive position instead of reacting in a crisis mode to one situation after another.
The MFI will restore investor and market confidence, build sound financial institutions, assist troubled institutions and protect our financial system while minimizing taxpayer exposure. This is an important step, but it is not enough. I will also take the additional actions needed to make sure a crisis like this is never allowed to build and break over the American people again.
Second, I will propose and sign into law reforms to prevent financial firms from concealing their bad practices. An inexcusable lack of financial transparency allowed Wall Street firms to engage in reckless behavior that padded their profits and fattened executive bonuses when times were good, but now imperil the financial security of millions of Americans when their bets turned sour.
So much of the damage to our economy could have been avoided if these practices had been exposed to the light of day. Americans have a right to know when their jobs, pensions, IRAs, investments, and our whole economy are being put at risk by the recklessness of Wall Street.
And under my reforms for the financial sector, that fundamental right will be protected.
Third, we need regulatory clarity. The lack of transparency in our financial markets went unnoticed by the regulatory agencies scattered throughout Washington charged with protecting the common good. We've got the SEC, the FDIC, the CFTC, the SIPC, the OCC, the Fed. At best, this confusing assortment of regulators and institutions was egregiously lax in carrying out their responsibilities. At worst, they engaged in the old Washington game of guarding their bureaucratic turf, instead of safeguarding the public interest and protecting investors.
Many in the financial services industry also either forgot or neglected their duty to act ethically and honorably. This shortcoming was aided and abetted by the creation of financial instruments that allowed lenders to escape any responsibility for the risk of their loans. In the past, lenders had to pay a price if they made a bad loan. Today, Fannie Mae and Freddie Mac worked with Wall Street to bundle together all these dicey subprime loans and then pushed them off on investors who didn't have the tools of transparency needed to assess or even understand the risk.
The current system promotes confusion, encourages bureaucratic infighting and creates incentives for financial firms to cut corners. We need to enhance regulatory clarity by holding the same financial activity to one regulatory standard. We don't need a dozen federal agencies doing the job badly -- we need the best federal agencies to do the job right.
Fourth, we must ensure that consumers and investors are protected. Our regulatory system must protect consumers and investors by punishing individuals who engage in fraud, break contracts, or lie to customers -- like the predatory lenders who know you can't afford an adjustable rate mortgage, but mislead you into signing one. These actions are criminal and the people who commit them should be behind bars. And corporate governance rules will be reformed so that shareholders have a clear say in determining the pay of CEOs and other senior executives. On my watch, the consequences for corporate abuse will not be more enrichment, but more likely an indictment.
Fifth, in cases where failing companies seek taxpayer bailouts, the Treasury Department will follow consistent policies in deciding whether to guarantee loans. It must have well developed remedies for a financial crisis. With billions of dollars in public money at stake, it will not do to keep making it up as we go along.
Finally, the Federal Reserve should get back to its core business of responsibly managing our money supply and inflation. It needs to get out of the business of bailouts. The Fed needs to return to protecting the purchasing power of the dollar. A strong dollar will reduce energy and food prices. It will stimulate sustainable economic growth and get this economy moving again.
All of these measures will calm and help us to avoid future panics and disasters in the financial markets. But to get through this tough time for America, and to come out stronger, we need a strategy of economic growth. And the massive new tax burden that my opponent plans for the American economy is exactly the wrong answer. His tax increase -- along with the enormous new federal programs he proposes -- are the surest way to turn a recession into a depression. In every respect, the Obama tax hikes would make things even worse for the working people of this country.
I have proposed, and will sign into law, an economic recovery plan for working Americans that is directed to the middle class. It will grow this economy, create millions of jobs and bring opportunity back to Americans. You will get a tax policy that creates family prosperity and allows you to save for the future. I will not raise your taxes on income or investments. And we will simplify the tax code so people can understand it and do their tax returns themselves.
I will give every family a $5,000 credit to buy their own health insurance policy and let them chose their own doctor. This will make insurance affordable to every American.
I will double the child exemption from $3,500 to $7,000 to help families pay for the rising cost of living.
Under my plan, a married couple with two children making $35,000 will get $5,000 to pay for health insurance and additional medical expenses. This family would get another $1,050 from my child exemption. That adds up to over $6,000. That is a lot more than what any hardworking middle class family, gets under the Obama plan.
Business taxes will be cut from the second highest in the world at 35 percent to 25 percent. Tax incentives will spur investment in new plants and equipment. Research and development incentives will keep companies on the cutting edge of their industries. Healthcare costs will diminish. Companies will stop sending jobs overseas to low-cost, low-tax countries and start creating jobs here in America.
I will expand markets for our goods and services. A one in five of all jobs in this country are linked to world trade. In five states alone Pennsylvania, Ohio, Michigan, Wisconsin and Colorado over 5 million jobs depend on trade. My economic recovery plan will create millions of jobs in America instead of driving them overseas.
I will adopt an "all of the above" energy policy which expands our use of oil, natural gas, clean coal and nuclear facilities. We will embark on a national mission to build an alternative energy base, creating millions of new jobs. We will create the most diversified energy economy in the world. And, I will return to the American economy the $700 billion dollars we send overseas every year to buy oil.
My opponent offers a very different economic future. He has continuously shifted his position on taxes. At the beginning of this campaign he promised to raise taxes on your savings and investments. He said he won't raise taxes for most people but he has voted 94 times in his short Senate career for tax increases and against tax cuts. He said he would only tax the rich, but he voted this year to raise taxes on those making just $42,000. Senator Obama has simply not given Americans good reason to trust him with your tax dollars.
My opponent is against lowering taxes on businesses which are the second highest in the world. He will impose mandated health insurance on businesses that would cost up to $12,000 per employee. He opposes free trade. He also wants to take away the fundamental right of workers to have a secret ballot when voting to be part of a union.
Now is not the time for these destructive policies that will cripple business growth, destroy jobs and hurt the middle class. Now is the time to take action to address this crisis and take action to put our economy back on a path of growth.
Even though Democratic leaders say they don't know what to do, I believe the deep problems afflicting our financial system won't be solved by one political party. There is only one candidate in this race who has a record of reaching across the aisle to work out the bipartisan solutions needed to move our country forward in times of crisis -- and I will bring that same spirit of bipartisan cooperation to the White House. It took members of both parties to get America into this mess, and it will take all of us, working together, to lead the way out.
Thank you.
Comment
Permalink
EmailThis blogger might want to review your comment before posting it.
Send your comments to masspolitics@globe.com
..."McCain also found time to directly go after Democratic rival Barack Obama over his links to former leaders of Fannie Mae and Freddie Mac and his inaction on a reform bill [I'll add supported by McCain] two years ago before the quasi-public mortgage giants collapsed."...
This was a good move on McCain’s part politically. Directly linking Obama to the Fannie and Freddie bailout (the no questions asked bailout that gave these respective companies leaders their golden parachutes) Now Obama needs to stumble his way.... I mean explain this away somehow.
Maybe just once republicans could own some responsibility or accountability?
Record debt? "Not us."
Bail outs? "Not us."
Spending money we don't have? "Not us. "
Every time something hits the fan, republicans cry, "We're all in this together." Spare us the excuses Senator McCain.
SPECIFICS ! ! ! WOW! ALL I HEAR FROM OBAMA IS A HEAVY CRITQUE OF McCAIN.
DEMOCRATS FOR McCAIN ! ! !
mccain is pitiful and really not even worthy of a comment here. He has no idea what he's talking about. Someone wrote him a nice speech though
I'm worried about this year’s election. Yes there are a number of bad republicans but the democrats of today scary me to death. These Obama supporters are clueless and don't care. You know, like a 14 year old who knows everything but is totally clueless and will argue with a wall to sell the point. They actually think Obama is going to reduce there taxes. There are more taxes then just income tax. Too many people believe everything they here, don't seek out the truth and can't see the forest for the trees and the use of logic is nowhere in their reasoning skills.
The sad fact is there is nothing you can say or do to convince Obama supporters
of the simple truth due to their blindness, inability and unwillingness to seek the truth. Give them a glass of Koolade, they will drink it.
McCain is a panderer, lier, imposter and a con artist. He was for deregulation and privitization his whole career and now he wants more regulation and oversight. People who believe in free markets and invisible hand need to understand that we need cops on the highways so that intoxicated drivers can not harm others. Wall Street is on sterioids and it is because of no oversight and full autonomy provided to markets. When everything is going good top 2% get all the rewards and when gambles didn;t work out rest of the coountry has to bear the bill. Rethuglicans should be sent to Guatonombay bay prisons.
How can any one even take the time to read or listen to Mr. McCain? He has outright lied about his opponent and about issues and flip flopped his own positions on issues so many times, that he has absolutely no credibility whatsoever. If there were ever such a thing as a referee in political races (which, I guess the media should be), the ref would be forced to disqualify Mr. McCain and remove him from the game (I refuse to honor him with the title of Senator, since he has disgraced himself and the office) . Shame on you John. You knew better once. Now you've sold your own integrity in the name of winning. Now who's putting "Country First"? You are an embarrassment.
Just how biased can you get. The story is about McCains plan and yet you have a picture or Obama. Is that google doing that or someone else trying to munipulate the news. What does he (Obama) have to do with the McCains plan.
I am scared that Obama is a fascist.
Im a member of the Keating 5 and I approve this message.
McCain is a pro-Wall Street big business republican, period. McCain wants to blame the SEC for this mess. Most people have no idea that the SEC has been lobbying for years to get the government to go after the hedge fund speculators and more sub-prime mortgage disclosure. This requires regulation and the republicans are against that. The SEC with some heroic efforts on behalf of Americans has always been stopped by the McCain republicans and lobbyists. The SEC has very little power outside of the public markets and mortgages are regulated by banks not under the SEC jurisdiction. To accuse the SEC for this problem shows a complete disconnect from the real world or he knows the truth and is looking for a scapegoat. Of course, McCain and his Wall Street donors had nothing to do with ignoring the SEC's calls to action years ago. First, he is against regulation, now he is for it. This guy is off the reservation.
its very simple, if you like the bush style of politics, vote for mccain. if you don't, vote for obama.
Great. Another government agency. That's what politicians want when they have no clue what to do - set up another committeel
As for McCain's attacks on Obama's ties, he is hardly clean. For instance,
McCain advisers and fundraisers who made millions lobbying for Fannie Mae and Freddie Mac and various other institutions that opposed strong oversight include:
Rick Davis, Campaign Manager, led the Homeownership Alliance that fought for Fannie, Freddie and others.
Charlie Black, a top adviser, earned huge sums lobbying Fannie and Freddie.
Fred Malek, a national finance co-chair, is a former Freddie board member.
The list goes on
John McCain said it right.
The majority of Washington is corrupt.
The lawmakers only look out for themselves.
There should be term limits.
As BIden said yesterday in a roundabout way...
giving money to the government is patriotic.
His mom should have named him Huckelberry Finn Biden.
Notice what McCain doesn't say - he would not impose any limits on investment banks' leverage, on the extent to which they can incur debt that exceeds assets. Yet it's precisely such leveraging that has caused the current crisis, with firms accumulating debts literally 30 times the amount of their assets. Our Depression-era regulatory apparatus prohibits such steps by traditional banks, but investment banks have been exempt from regulation, thanks to legislation sponsored by Phil Gramm and supported by McCain. As a result, they became over-extended, toppling like a house of cards when the housing market started to head south.
McCain's reforms all center around things like transparency, which is good, but woefully insufficient. He clearly remains a free-market fundamentalist, unwilling to outlaw dangerous practices even after they have proven so devestating to the economy as a whole. We need Obama because America just can't afford 4 more years of leadership with ideological blinders on. We need someone smart who will do what works, not what's politically correct according their ideology. That's what the Clinton Administration did - and the economy worked pretty well for ordinary Americans, as I recall. Wouldn't it be nice, once again, to have that kind of competent leadership looking out for middle-class families?
McCain is the truth and the far left over the edge can't counter what he says so all they can say he's a liar.Obama is simply a young boy in a hot air suit with empty words of stutter.
"Maybe just once republicans could own some responsibility"
Mavsreader,
McCain has pointed the finger at SEC Chairman, a Republican, as part of the problem.
When is the last time Obama called out a Democrat for dropping the ball?
Plus do remember Arthur Levitt the long-time SEC Chairman, a democrat under Clinton?
Per Wikipedia: "Arthur Levitt Jr...widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules."
Talk about "chickens coming home to roost".
I am scared that Obama is a fascist. Let's not forget Obama's 20-year devotion to Rev. Wright.
Who is this guy? He isn't the John McCain who has stated time and time again that he is against regulation of any business. This isn't the John McCain that was found guilty of influencing the markets unfairly in the Keating Five case. This isn't the John McCain who for years railed against the liberals for wanting to control conservative businesses. No this John McCain is a liar who will say anything, take any position, and lie about what he will do just to get elected. Is he a conservative as he said for years? NO. He isn't a liberal. NO. Is he for or against regulation? NOBODY REALLY KNOWS!!! OOPS, the 7 of 9 advisors of his know because they are influence peddlers. Sling all the mud you want John McCain but people are too smart not to know who and what you are.
The President of the United States lacks statutory authority to fire the SEC Commissioner. So, Senator McCain misplaced the law.
I didn't know that Senator Obama had the authority to regulate the SEC, Treasury, Federal Reserve Board, the President, the Congress. Gee! What a powerful man.
It's interesting how many news agencies are turning to Ron Paul because he had this whole problem pinned eight years ago! Reactionary politics show the true weakness in McBomba. The FED is putting band-aids on a severed head with our taxes!! Wake up people...we are heading into a new depression because of our lack of economic principle. The future candidates don't have a clue what they are getting into. You think Bush looks bad....HA you just wait!
McSame opposed the AIG bailout on one day, and the next day he was for it. He has prided himself as Mr. Deregulator all his career, and now he is suddenly the champion for regulation. This is a guy who is on the record saying that he has voted with George Bush 90% of the time but consistently calls himself a maverick. He's the self-proclaimed anti -earmark king, yet he goes to Alaska and picks a little know governor with a well known appetite for federal earmarks, one of which McSame personally shamed. I mean, this old fart is reckless. Whatever happened to judgment and experience. I find it very interesting that it took him 18 months to realize that the country needs change. But i find it disturbing that he thinks that "the fundamentals of this economy are still strong."
Americans need and are past ready for a Presidential Debate. I wish that Obama and McCain would have done the townhall circuit together. Rumors and lies about both candidates are rampant. People are listening to what they want to hear and ignoring what they should hear about both candidates. Technology is a marvelous tool for sharing information, but it has also been a tool to spread lies and half truths to the point that no one knows the real Obama or the real McCain. Let the men speak for themselves. Let the questions be appropriate. Let the candidates show true intregrity and love of America. Throw out the Politics and let us hear the men. I wish I could say Obama and McCain are men with sound judgement and wisdom. In this enviornment I think it impossible to tell. Party Politics is killing us!
Privatize Profits and Socialize Losses ... the Republican Way.
1. Don't use the word Fascist, if you don't know what it means. Fascism is more of an extreme right wing phenomenon, the left wing version would be Communism.
2. Mccain wasn't "found guilty" of anything in the Keating five scandal. His role was more or less coming to the defense of a guy who robbed thousands of people of thier life savings. Stupid, but not a crime.
3. Neither candidate is really worth thier weight in dung. Neither has offered anything helpful. Obama's plan is empty rhetoric with no substance, and Mccain's plan is pointing out that Obama's plan is empty rhetoric, plus firing the SEC chairman.
4. The only real action to help the economic situation is the stoppage of short selling financial institutions, not that I expect people that don't know what fascism
is to know what short selling its. By the way, that one piece of actual helpful action came from the SEC. In light of that, I think they are the only ones that shouldn't be fired.
5. We've come to a new presidential cycle with no good choice. My advice would be to pick which Executive branch first you like, woman or non-white, and hope for the best. Don't drink the koolade of either camp.
6. The following things are not plans, they are substance free catch phrases.
-Cleaning up warshington
-Change
-Shaking things up.
-Going after greed and corruption
-Hope
-Anything these guys have said so far, that I have heard.
Wow! He's promised us the moon and more! I can hardly wait to see if he or his opponent can deliver what they promise to us.
Bush had to admit what a TOTAL Disaster he's been on the Economy, and sounded like Whimpy saying, " I'll gladly pay you Tuesday for a hamburger today."
Bush also doesn't hold the country's purse strings, so he has to go along with the remedies CONGRESS insists upon.
McCain seems to be beligerant-squared and playing the Rovian game of trying to win the NEWS cycle with railing against Obama.
Obama is steady today answering questions and reasuring the Market...THAT'S LEADERSHIP.
IT MATTERS that you are in the top of your class in Harvard, not Daddy's alumni beneficiary to get your C+ average into YALE or your Daddy the admiral getting you into West Point when you rank 884th in a class of 890.
It's very simple mike if you like the dems style of do nothing congress with higher taxes and chicago style good ole boys politics then Obama is your boy.If you want real change in politics as usual then McCain is your boy.
What about Keating (donations - travels with and from Keating and S&L Meetings with Regulators Please read Tom Fitzpatrick's article November 29, 1989 ?????
Barb Dare
Accounting for all Cheney/Bush's excesses (0.00 / 0)
I am so grateful this total market meltdown happened before Cheney/Bush could slink out of office. I want EVERY dirty secret of their no bid contracts in Katrina and Iraq where BILLIONS are simply unaccounted for, gone over in painful details.
The next president will have such a HORRENDOUS mess to clean up, it''s a miracle Obama and Biden would even want to step up to tackle this DISASTER. EVERY Senior needs to remember Obama and Biden saw through the danger of privatizing Social Security,and voted against it, or it''d be your personal account GUTTED this week.
IT MATTERS (0.00 / 0)
Bush had to admit what a TOTAL Disaster he's been on the Economy, and sounded like Whimpy saying, " I'll gladly pay you Tuesday for a hamburger today."
Bush also doesn't hold the country's purse strings, so he has to go along with the remedies CONGRESS insists upon.
McCain seems to be beligerant squared and playing the Rovian game of trying to win the NEWS cycle with railing against Obama.
Obama is steady today answering questions and reasuring the Market...THAT'S LEADERSHIP.
IT MATTERS that you are in the top of your class in Harvard, not Daddy's alumni beneficiary to get your C+ average into YALE or your Daddy the admiral getting you into West Point when you rank 884th in a class of 890.
Accounting for all Cheney/Bush's excesses
I am so grateful this total market meltdown happened before Cheney/Bush could slink out of office. I want EVERY dirty secret of their no bid contracts in Katrina and Iraq where BILLIONS are simply unaccounted for, gone over in painful details.
The next president will have such a HORRENDOUS mess to clean up, it''s a miracle Obama and Biden would even want to step up to tackle this DISASTER. EVERY Senior needs to remember Obama and Biden saw through the danger of privatizing Social Security,and voted against it, or it''d be your personal account GUTTED this week.
McCain = The United States of America
Obama = The People's Republic of America.
Socialism is the most bankrupt political philosophy to date.
Liberation from this tyranny, Obama wants to take more and more of our money and invest it on his "social" programs. Someone taking your money and telling you that he will take care of you is larceny. What exactly has Obama ever accomplished? Still waiting on that one a year and a half into his campaign.( most of the bills he says he "introduced", he just voted for).
McCain offers the only alternative to income redistribution on a scale not seen Hugo Chavez won in Venezuela. McCain knows how government works, has the relative expereince and has a history of working on bi-partisan legislation (obama was the most liberal aka partisan senator in the last term...) We must stop this communist dead in his tracks and let him know that the corrupt chicago political machine will not run our country.
Search "obama+ayers"
Search "obama+rezko"
Search "Obama+needs to be a motivational speaker and not our president"
And to head off any Obama responses.
You willingly support a guy with a resume that only has a cover letter. You beleive anything he says. Your cultural revolution's slogan include ambigous statements like "hope" and "change". Call me crazy but hope and change won't give you the concrete you need to build america in the right direction. Blindly the sheep are led to the slaughter for they trust what the shepard says. For me to beleive what obama says I have to trust him. Trust comes from good actions not empty words and two books about himself.
You are all gullible. "Easily deceived or duped; naïve, easily cheated or fooled"
Wow, McCain doesn't know where it started, He should he caused this!
McCain constant deregulation of financial markets let to the ablity of banks, insurance companies, brokerage firms and lending institutions to do business with no financial disclosures. McCain you screwed the American People, thanks Johnny. Juts go sit in a bunker with Palin and Phil Grahmm and lie some more.
John McCain is a grumpy old man who has lost his marbles and is not mentally or physically fit . He looks very tired and angry and doesn't seem to have the energy to solve all the complex problems this nation is facing.
McCain needs a very long rest - RETIREMENT!!
He needs to get Cindy's millions and go home to enjoy his 7 mansions.
The american people deserve better, the deserve a smart, prepared and strong leader with real solutions for the middle class like health care, tax breaks for seniors, tax breaks for people making less than $250K, scholarship breaks, regulation of the economy, clean energy and creation of jobs.
Obama has what it takes to be a great leader, plus he is in great shape physically and most importantly mentally. Obama also has the temperament to handle big crisis without melting down. We can't say the same about Mccain, he's got a short fuse and looks really tired, grumpy and edgy latelly. He offers no solutions to our problems. Go way, my friend, retirement awaits you. If you are in so much pain you can't use the internet, send an email or write you need to go lay down in one of your mansions. The White house is no retirement home, there are tons of problems to solve 24/7. Leave the heavy lifting to Obama, he can handle it!
Obama/Biden, yes we can and we will!
Yes, Sen. Obama received $126,349 from Fannie Mae and Freddie Mac. What does every biased report leave out? Total Contributions to Obama from Fannie and Freddie PACs = $6,000. Total Contributions from Individual Employees = $120,349.
Now lets take a closer look at contributions to both cadidates from Directors of the of the Freddie and Fannie Boards (People like Geoffrey Boisi, Alfonse D'Amato and the like.) Total contributions to John McCain = $169,900. Total contributions to Barack Obama = $16,000. (Source NY Times)
Nineteen McCain advisers and fundraisers lobbied for Fannie Mae and Freddie Mac.
Six of his advisers and fundraisers lobbied for Freddie Mac including:
· McCain’s Current Chief of Staff Mark Buse,
· Top McCain adviser Charles Black,
· Carlos Bonilla,
· Al D’Amato,
· Juleanna Glover Weiss
· Susan Molinari.
Thirteen of them lobbied for Fannie Mae including:
· McCain’s Congressional Liaison John Green,
· Head of VP Search Team AB Culvahouse,
· Wayne Berman,
· Kirk Blalock,
· Alberto Cardenas,
· Kirsten Chadwick,
· Richard Holht,
· Kate Hull,
· Aleix Jarvis,
· Tom Loeffler,
· Peter Madigan,
· Allison McSlarrow
· Aquiles Suarez. [John McCain.com, Senate Lobbying Disclosures]
McCain Senior Adviser Wayne Berman Continues to Lobby for Fannie Mae. Wayne Berman has lobbied for Fannie Mae and Freddie Mac from 2004 through the 2nd quarter of 2008. Their firm earned over $100,000 from Freddie Mac in 2004 and over $1 million from Fannie Mae. [Senate Lobbying Disclosures]
Senator Obama and Congressional Democrats (0.00 / 0)
In the MASSIVE Wall Street Bail Out Bush is asking for, ALL Americans will be asked to do the heavy lifting. I ask that the biggest issues used to DIVIDE Americans also be eliminated in this bill, and none of them cost the taxpayers a cent.
Add Roe vs. Wade is the law of the land and every American is guaranteed a Right of Privacy. An inclusive ENDA bill which protects the homes and jobs of LGBT Americans is only fair, and the repeal of DADT opens the military for EVERY American to serve with honor.
If Republicans balk at these FREE additions, then mention your healthcare program and tuition for a years National Service, and needed infrastructure additions could have been added to this bill Bush HAS to sign, but we've left those plans for another time
If you like demwits running the major financial institutions as corrupt payoffs with their golden commie crony parachutes, vote Obama.
It's time to reread the thought provoking remarks written by "the third way" (#33 above). Take his challenge and read the searches he suggests and don't allow yourself to remain gullible enough to be led astray by the empty and unsupported calls for hope and change. It would be a grave mistake to allow our disappointment in the errors Pres. Bush to cause us to fall for the slick promises of Barack Obama.
Senator McCain we need leadership dedicated to constructively address social, financial, military and political issues within an already divided country. To be elected President, you will need to be clear on your positions and state what you are committed to do to diminish party politics and to solve real problems. What I do not need to hear is about the lack of leadership experience and liberal views of Senator Obama. I get that. You will have the best chance to be elected if you address solutions, drop the rancor and stand for decency and civility. American people value leadership and know it when it is offered. Take a chance...lead and leave the results to fate. Be the John McCain that was reborn in a prison camp, developed in real life circumstances, found a pathway of service and can not forget his passion for truth. I hope that you get this message and decide to be proactive.