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For 08 Rivals, a Skein of Ties to Loan Giants [are we surprised?]
The New York Times ^ | 2008-09-10 | Jackie Calmes

Posted on 09/10/2008 7:24:26 AM PDT by rabscuttle385

WASHINGTON — Senators Barack Obama and John McCain each cite the mess at Fannie Mae and Freddie Mac as a consequence of the corrosive coziness of lobbyists and politicians that they promise to end. But each man and his party also have ties to the fallen giants that will complicate the next president’s job of reshaping the mortgage finance companies that have been essential to the economy.

The Republican nominee, Mr. McCain of Arizona, has numerous close relationships with and contributions from current and former company lobbyists.

Mr. Obama, his Democratic rival from Illinois, is second among members of Congress in donations from the firms’ employees and political action committees.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: 2008; bailout; corruption; election; electionpresident; elections; fanniemae; fnm; fre; freddiemac; govwatch; mccain; mccainpalin; mccaintruthfile; obama; obamabiden; obamatruthfile
Note that per Bloomberg and other wire services reports, the Congressional Budget Office (CBO) will recognize $1.7 Trillion of unsecured Fannie & Freddie unsecured debt and $3.5 Trillion in mortgage guarantees as federal obligations (!!!).
1 posted on 09/10/2008 7:24:26 AM PDT by rabscuttle385
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To: rabscuttle385
Special interest lobbying should and must end. Period. That means all foreign and domestic interest groups.

I think it's high time the American people were served first. If McCain doesn't do that then he deserves to be kicked out of office.

2 posted on 09/10/2008 7:30:44 AM PDT by SQUID
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To: rabscuttle385

We have to remember that it was CONGRESS that created the mortgage mess by requiring mortgage lenders to fund people with bad credit so they could buy homes.

That’s what created the sub-prime mortgage market and that’s why we have a problem today. This is just more of the Law of Unintended Consequences coming home to roost, but too many Americans see it as a Bush problem, ora Republican problem.

I think it is an Alan Greenspan problem because he should have gotten in the president’s ear and told him everyday what a bad idea this was.

Now it’s our and our children’s and grandchildren’s problem!!

This November, when all those Senators and Congresscritters up for re-election tell you to vote for them because they will go to Washington to solve America’s problems, remember that, if they are incumbents, they CREATED the problems they say they are going to solve. Don’t become the embodiment of insanity. Don’t keep sending the same people back to Washington and expect a different result!!


3 posted on 09/10/2008 7:46:08 AM PDT by DustyMoment (FloriDUH - proud inventors of pregnant/hanging chads and judicide!!)
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To: DustyMoment
Don’t become the embodiment of insanity. Don’t keep sending the same people back to Washington and expect a different result!!

The irony is that Americans of all stripes are poised to reward at least one of them with The White House.

4 posted on 09/10/2008 7:49:29 AM PDT by rabscuttle385
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To: pissant; nw_arizona_granny; Liz; ex-Texan; null and void; PhilDragoo

Maurice Strong is still managing to keep his name out. But ping.


5 posted on 09/10/2008 7:49:53 AM PDT by Calpernia (Hunters Rangers - Raising the Bar of Integrity http://www.barofintegrity.us)
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To: DustyMoment
Thanks. You said it right on. Great post. It's hard to wake up Americans, they seem to be in a trance and have no idea what is happening. Just pull the handle, or whatever, no idea in the empty heads. Term limits is the best idea, no third term!
6 posted on 09/10/2008 7:56:19 AM PDT by Logical me (Oh, well!!!)
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To: rabscuttle385

I agree with Mark Levin, we need an investigation on this. Someone should be sent to jail, and it could be multiple players, both parties, and the press is ignoring the whole,”what did he know and when did he know it” theme.
This is huge!


7 posted on 09/10/2008 7:56:45 AM PDT by devistate one four (H I V Homophobia Is Vindicated)
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To: DustyMoment

Add to that the fact that the books were cooked

http://www.washingtonpost.com/wp-dyn/articles/A32845-2005Apr6.html

and don’t forget Andrew Cuomo

http://www.villagevoice.com/2008-08-05/news/how-andrew-cuomo-gave-birth-to-the-crisis-at-fannie-mae-and-freddie-mac/


8 posted on 09/10/2008 8:03:39 AM PDT by Roccus (Someday it will all make sense............maybe.)
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To: Roccus

‘Cooking with Cuomo’. Sounds like a promising title. ;)


9 posted on 09/10/2008 8:12:37 AM PDT by Calpernia (Hunters Rangers - Raising the Bar of Integrity http://www.barofintegrity.us)
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To: rabscuttle385

I’m still investigating these folks BUT they appear to have performed a much-needed service for the upcoming election. Visit THROW THEM OUT at the link below and check out YOUR guys at the House and Senate links.

http://www.throwthemout.com/index.php

At the bottom of the THROWTHEMOUT home page they touch on a very real problem up there in Malfunction Junction: THE HILL RATS MUST ALSO BE FIRED AND SENT OUT INTO THE REAL WORLD TO REAL JOBS.

In case you aren’t familiar with that term, these are the professional congressional staffers who are generally ideological eunuchs or hard-core liberal statists whose only goal is to lead, guide and direct the dummies the people send up there (aka “elected members”) every 2 or 6 years. They have a visceral need to be NEAR THE POWER. And it’s pretty heady stuff to actually BE the power. The political persuasion of the member – if he even HAS one — is largely irrelevant.

For example, most of the TAX LAW under which we suffer today was “crafted” (a term they believe imparts an air of professionalism to this perverse process) in the wee hours out of public view in Capitol Hill conference rooms by 30 something – or younger — staffers and K Street lobbyists at a large table littered with empty pizza boxes, soda and beer cans. The proposed bill – which can run to dozens or hundreds of pages of mind-numbing legal prose — is then presented to the member. Sometimes he actually reads it. Most do not, preferring a 1 or 2 page “Executive Summary” which may – or may NOT – accurately portray the contents of the proposed legislation.

And if some new member arrives and cannot locate an “expert” on – for example – tax law, why one of his staffers is more than happy to recommend an old college roommate – OVER AT THE IRS!! (To get the BIG PICTURE on this, simply swap YOUR favorite government bureaucracy for the IRS.)

And if their guy is fired by those idiot voters back in the district or state, they will scurry – like rats – to find a staff job with the new guy or another member just so they can stay near the power.

SPREAD THE WORD BY SHARING THE LINK AND RE-ELECT NOBODY!!!!


10 posted on 09/10/2008 8:23:10 AM PDT by Dick Bachert (http://www.youtube.com/watch?v=lIo8FJJMps8)
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To: Calpernia

It was nice to see that this info is published by such great Bastions of Conservatism as the Washington Post and the Village Voice!


11 posted on 09/10/2008 8:26:02 AM PDT by Roccus (Someday it will all make sense............maybe.)
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To: rabscuttle385

This is why Senators will always be poor candidates for POTUS, and this time we’re stuck with two of them.


12 posted on 09/10/2008 8:27:38 AM PDT by dfwgator
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To: rabscuttle385

Fairly typical hatchet job by the NYT. Naturally they miss the real point of the Fannie/Freddie collapse. Henry Cisneros & Andrew Cuomo began using the agencies to support their party’s social programs while they were Sec. of HUD. Add to that all attempts to bring oversight to the process being headed off by Barney Frank. Repubs no better on the subject. Critical point is that it is gov’t intervention in all its forms screwing up the system.


13 posted on 09/10/2008 8:28:38 AM PDT by Renkluaf
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To: Roccus
You are right.

Bump to WaPo and VV!

Maybe we are finally swinging right and will find the fulcrum.

14 posted on 09/10/2008 8:32:31 AM PDT by Calpernia (Hunters Rangers - Raising the Bar of Integrity http://www.barofintegrity.us)
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To: Dick Bachert; cripplecreek; nmh; calcowgirl; indylindy; AmericanInTokyo
Visit THROW THEM OUT at the link below and check out YOUR guys at the House and Senate links.

I was amused that the only Representative who consistently voted with the Constitution was...

Ron Paul

Yet, if we are to believe quite a few Freepers, Rep. Paul is a total kook, a nutjob, and a surrender monkey.

My Representative (Rep. Frank Wolf) was middle of the road. Reps. Tancredo and Hunter fared well for the most part.

15 posted on 09/10/2008 8:35:14 AM PDT by rabscuttle385
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To: Dick Bachert; cripplecreek; nmh; calcowgirl; indylindy; AmericanInTokyo
Visit THROW THEM OUT at the link below and check out YOUR guys at the House and Senate links.

The Senate list is worst. The only good guy was Sessions of Alabama.

Both McCain and Obama were failures...when they actually bothered to vote.

16 posted on 09/10/2008 8:39:12 AM PDT by rabscuttle385
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To: rabscuttle385

Oh, PLEASE!

NO ONE WANTS RON PAUL!

He’s a stupid LIBERALtarian.

Don’t ping me with this NONSENSE.


17 posted on 09/10/2008 9:07:34 AM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: nmh; Dick Bachert
Look in the link provided way back in post 10:
http://www.throwthemout.com/index.php

In particular, I was referring to their report card for the current US House of Representatives:

The report card's key has blue for votes conforming to the Constitution and red for votes not doing so.

Tancredo's votes were fairly similar to Paul's, with the exception of the vote on the FISA Amendments (Paul didn't vote). Hunter's were similar to Tancredo's with the exception of his vote for HR 3221, the Housing & Economic Recovery Act.

I was just pointing out something; no need to get offended!

18 posted on 09/10/2008 10:53:16 AM PDT by rabscuttle385
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To: Calpernia

Thanks for the ping, got behind on them...again.


19 posted on 09/15/2008 2:45:38 AM PDT by nw_arizona_granny ( http://www.freerepublic.com/focus/chat/1990507/posts?page=451 SURVIVAL, RECIPES, GARDENS, & INFO)
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