The poor writer will be told to clean out his desk tomorrow.
Posted on 10/04/2008 1:42:07 PM PDT by reaganaut1
This will never happen. As far as the msm, and therefore, the general public are concerned, Enron was the worst corporate scandal ever despite the fact that the effects of the FNM accounting scandal and subsequent government take over have far surpassed Enron's by several orders of magnitude.
Add to that the baseless assertions made by the dems (such as in the video link here: Dems Defending Fannie Mae) that any criticism of Raines is akin to a "lynching" and will not be tolerated. This will silence any critics lest the be labeled "racist".
Raines will be able to live comfortably with his massive severance package without having to account for any of this mess. Such is the reality of a media controlled public awareness. Perception is reality. There is no major accounting scandal unless the media says there is.
The poor writer will be told to clean out his desk tomorrow.
The NYT finally is starting to do some reporting on this, though the conservative blogs have been on this from the start.
The NYT article is now a “permission slip” for the tv networks to “report” on the issue. Reporting here is defined as repeating whatever the Times says in its article.
No mention of John McCain here . . how come? Didn’t he try to reform FNMA?
We can blame the NY Slimes and Salzberger all we want. But McCain and Bush have the bully pulpit and they can bypass the media.
It’s not his fault that McCain had a national TV audience with Americans watching and failed to tell anxious Americans the truth. He could have reminded Americans of what he himself said.
John McCain, on May 25, 2006, warned the nation about Fannie Mae and Freddie Mac. McCain’s warnings came in this bill which the Democrats defeated:
“...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...”
Instead he talked about earmarks for half an hour.
It’s not the left’s fault that McCain is stupid.
The debate on Tuesday is his last chance to address the issue, assuming that he understands it. :)
He understands it perfectly.
He said it before anybody else in America saw it coming.
If he won’t tell the sheeple, than he doesn’t deserve to be leader of the free world.
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