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Fact Check: "Obama tried to reign-in Freddie Mack and Fannie May in 2006"
Fox News | 10/6/08 | vanity

Posted on 10/06/2008 2:23:54 PM PDT by pabianice

Fact check needed. That red-haired Obama Suck-up is on Fox proclaiming that in 2006 Obama introduced legistation in the US Senate to rein-in and better control sub-prime loans backed by Fannie May and Freddie Mack. Can anyone corroberate this or is this just another Obama lie? (I also note that she looks rather distressed at the moment -- a result of today's wailing of Obama by McCain and Palin?)


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections; Your Opinion/Questions
KEYWORDS: areliars; factcheck; obama; obamarecord
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1 posted on 10/06/2008 2:23:54 PM PDT by pabianice
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To: All


Video: "Barack Obama & Friends - Sean Hannity Special" (Added October 5, 2008)

Video: "Barack Obama & Friends - Sean Hannity Special - Part 2" (Added October 5, 2008)

Video: "Barack Obama & Friends - Sean Hannity Special - Part 3" (Added October 5, 2008)

Video: "Barack Obama & Friends - Sean Hannity Special - Part 4" (Added October 5, 2008)

Video: "Barack Obama & Friends - Sean Hannity Special - Part 5" (Added October 5, 2008)

Video: "Barack Obama & Friends - Sean Hannity Special - Part 6" (Added October 5, 2008)

Video: "Explosive Audio Unearthed: After the Sub Prime Crisis already started in 2007 Obama says Sub Prime Mortgages that gave houses to people WHO COULDN'T AFFORD THEM was a GOOD IDEA!!" (Added October 4, 2008)
Video: "The Obama Youth" (October 2, 2008)

Video: "Sing for Change For Obama, Our Dear Leader" (October 1, 2008)



[Post no. 12] - ARCHIVES - Topic: BIDEN & OBAMA (aka B & O) (October 6, 2008 -- Click Here.)

2 posted on 10/06/2008 2:25:11 PM PDT by Cindy
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To: pabianice

McCain went on the senate floor on May 26, 2006 and tried to pass legislation to reign in Freddie and Fannie...the democrats didn’t let it out of committee...she’s confusing McCain’s action versus Obama’s inaction...


3 posted on 10/06/2008 2:26:33 PM PDT by Longstreet63 (Che Guevara is a genocidal hero of the ignorant...)
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To: pabianice
"proclaiming that in 2006 Obama introduced legistation in the US Senate"

My memory is that the talking head asked what kind of legislation Obami had introduced that she said he "contacted Paulson" (or it might have been that he contacted the Treasury secretary). The talking head didn't follow up by asking if it was a letter, a phone call, something said on the floor, etc.

My impression was she had gone beyond spin and was outright lying.

4 posted on 10/06/2008 2:27:31 PM PDT by Proud_texan
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To: Longstreet63

The media confused? Nah..
Either that or she’s flat out twisting it knowing people won’t bother to check.


5 posted on 10/06/2008 2:27:59 PM PDT by snarkytart
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To: Longstreet63
I don't think Obie has been the initial sponsor of any substantive legislation since joining the Senate.
6 posted on 10/06/2008 2:28:26 PM PDT by gov_bean_ counter ( Sarah Palin is America's Margaret Thatcher; Obama is America's George Galloway.)
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To: pabianice

Oh yeah, right. Not


7 posted on 10/06/2008 2:28:59 PM PDT by freekitty (Give me back my conservative vote.)
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To: pabianice

They’re all over the networks saying that Obama tried to reign it in in 2006, even personally requesting that Paulson hold a summit.


8 posted on 10/06/2008 2:29:37 PM PDT by papasmurf (I ain't your Daddy's Conservative, OK?)
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To: Proud_texan

She also said that McCain said it was “above his pay grade”.....That was Obama. What are the dems up to? Twisting the words really bad here.


9 posted on 10/06/2008 2:29:38 PM PDT by queenkathy (Pray 4 Josh... www.carepages.com ( joshuaourwarrior) brain injury from allergy shot)
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To: pabianice
Here's a tool for you. THOMAS Library of Congress search engine & database of legislative actions.
10 posted on 10/06/2008 2:29:46 PM PDT by AFreeBird
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To: Cindy

I believe she was refering to a letter barak sent to the treasury secretary, not any legislation.


11 posted on 10/06/2008 2:30:04 PM PDT by guardian_of_liberty (We must bind the Government with the Chains of the Constitution...)
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To: pabianice
Photobucket
12 posted on 10/06/2008 2:30:20 PM PDT by Dick Vomer (liberals suck....... but it depends on what your definition of the word "suck" is.,)
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To: Proud_texan

Didn’t Obama brag about having written a letter to Paulson about subprime lending (though probably the ‘predatory’ aspects of it) in 2006?


13 posted on 10/06/2008 2:30:28 PM PDT by 9YearLurker
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To: gov_bean_ counter

I know...McCain introduced the legislation in May 2006 so I don’t know what this woman was talking about...


14 posted on 10/06/2008 2:30:50 PM PDT by Longstreet63 (Che Guevara is a genocidal hero of the ignorant...)
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To: pabianice

“FactCheck” is lying again...


15 posted on 10/06/2008 2:32:01 PM PDT by Red Steel
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To: pabianice
You saw her....she was quivering while spouting the bambi lie. These people are nervous. Very nervous.
16 posted on 10/06/2008 2:32:06 PM PDT by jennyjenny
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To: queenkathy
I think they've gone beyond twisting, I think they're down to outright lying.

Not that it hasn't been done before but I can't recall anything as bare and brazen as this time around.

17 posted on 10/06/2008 2:32:49 PM PDT by Proud_texan
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To: 9YearLurker
I think he did claim to have written a letter, but provided no proof that the letter existed. Sorta like that US birth certificate thing.
18 posted on 10/06/2008 2:32:56 PM PDT by gov_bean_ counter ( Sarah Palin is America's Margaret Thatcher; Obama is America's George Galloway.)
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To: Proud_texan
My memory is that the talking head asked what kind of legislation Obami had introduced that she said he "contacted Paulson" (or it might have been that he contacted the Treasury secretary).

Biden said in the VP debate that Obama wrote a letter to the Secretary of the Treasury. Wow ... that sure made a difference.

19 posted on 10/06/2008 2:33:06 PM PDT by r9etb
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To: pabianice

No, she tried to infer that by saying that Obama went to Paulson trying to get together a “summit” to address the issue, but it never happened.


20 posted on 10/06/2008 2:33:34 PM PDT by Hanna548
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To: pabianice

They “claim” he wrote a letter to Paulsen. Why he would do that instead of introducing or supporting legislation is silly. I call BS.


21 posted on 10/06/2008 2:33:41 PM PDT by jennyjenny
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To: jennyjenny
Obie sounded rattled in his response to the Ayers thing today. Tomorrow night could be interesting.
22 posted on 10/06/2008 2:33:57 PM PDT by gov_bean_ counter ( Sarah Palin is America's Margaret Thatcher; Obama is America's George Galloway.)
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To: pabianice
Obama is a liar, he wants to take your money. silence free speech, grab your guns, and kill your babies..

He is the most dangerous man ever to run for president in American history..

23 posted on 10/06/2008 2:34:26 PM PDT by just me (JELLY BEANS AND WINKS...)
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To: 9YearLurker

Obama didn’t write no letter to anyone about Fannie and Freddie in 2006 being in trouble. If he said this he’s lying again.


24 posted on 10/06/2008 2:34:40 PM PDT by Red Steel
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To: Cindy

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190

when I see one of these for Obama (see above), then I’ll believe him


25 posted on 10/06/2008 2:34:47 PM PDT by BookmanTheJanitor
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To: r9etb
Thanks, I try not to waste any bandwidth of anything Obama or Biden says so I had no memory of it.

I did find a letter from 2007 here.

A quick read tells me that it's about a whole different topic; that is keeping people in foreclosed homes.

26 posted on 10/06/2008 2:36:19 PM PDT by Proud_texan
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To: guardian_of_liberty

Maybe Mary Mapes can provide a ginuwine copy.

SHOW US THE LETTER BAMBI!!


27 posted on 10/06/2008 2:36:44 PM PDT by jennyjenny
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To: Longstreet63
Number 1—Factcheck is a leftist POC

she’s confusing McCain’s action versus Obama’s inaction...

No, not confused. That's they're tactic.

28 posted on 10/06/2008 2:36:54 PM PDT by TribalPrincess2U (McCAIN/PALIN...THE CHANGE AMERICANS REALLY WANT—OBAMA..THE CHANGE THE WORLD'S TERRORISTS WANT)
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To: gov_bean_ counter

S. 2433 Global Poverty Act 2007.


29 posted on 10/06/2008 2:37:19 PM PDT by Roccus (POLITICIAN.....................A four letter word spelled with ten letters.)
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To: pabianice

Please...! Why would he care?


30 posted on 10/06/2008 2:37:30 PM PDT by pallis
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To: pabianice

I really doubt it. Almost all of Obama’s older statements on the issue focus on keeping people in houses (they can’t actually afford), nothing seems to address the financial impact of sub-prime lending.


31 posted on 10/06/2008 2:37:49 PM PDT by The_Reader_David (For real change stop electing lawyers: Fighter-Pilot/Hockey-Mom '08.)
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To: Dick Vomer

32 posted on 10/06/2008 2:38:02 PM PDT by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: papasmurf
According to THOMAS there's nothing for Obamma in 2006, as far as any sponsored or co-sponsored bills goes. And that means ANY bill, not just anything relating to Fannie Freddie or GSE.
33 posted on 10/06/2008 2:39:51 PM PDT by AFreeBird
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To: Diogenesis

So Obama’s input was to make the situation worse by pushing more liar loans? Cool.


34 posted on 10/06/2008 2:40:49 PM PDT by pabianice
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To: Diogenesis

His request would make it worse!


35 posted on 10/06/2008 2:41:40 PM PDT by tiredoflaundry (McCain/Palin '08 ----- It's October, SURPRISE ME!)
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To: pabianice

I think she is under the influence of drugs.....or kool aid.


36 posted on 10/06/2008 2:42:06 PM PDT by mouse1 ("Say it aint so joe")
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To: Red Steel

“So the old terrorist radical, Ayers, gets a grant from the Annanberg Foundation to radicalize Chicago youth. That foundation is evidently run by a bunch of left wingers.”

Guess who funds Factcheck.


37 posted on 10/06/2008 2:42:21 PM PDT by stubernx98 (cranky, but reasonable)
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To: pabianice

Here is the letter Obama keeps refering to:

http://www.freerepublic.com/focus/f-news/2098904/posts

I broke it down paragraph by paragraph. It isn’t a warning about financial meltdown. It is a warning that we need MORE sub-prime loans.

Read it. It is amazing they can get away with saying Obama warned about the current crisis. Had they followed the advice in Obama’s “warning” letter, the crisis would have been WORSE.


38 posted on 10/06/2008 2:42:26 PM PDT by Brookhaven
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To: Cindy

So much for “reaching across the isle.” If this were true, which it isn’t, Obama can’t even get his own party to support his legislation.


39 posted on 10/06/2008 2:43:40 PM PDT by yazoo
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To: AFreeBird; papasmurf

okay, my mistake, I neglected to specify the 109th Congress. But still nothing that I can see for fannie, freddie or GSE


40 posted on 10/06/2008 2:44:12 PM PDT by AFreeBird
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To: r9etb
"Biden said in the VP debate that Obama wrote a letter to the Secretary of the Treasury. Wow ... that sure made a difference."

So this is the one "fact" that Biden didn't misstate?

He must have taken care to carefully memorize this because they needed an unprovable fig leaf.

41 posted on 10/06/2008 2:44:27 PM PDT by cookcounty (The only difference between Bill Ayers and Tim McVeigh is competence.)
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To: pabianice

Here’s a fact check suggestion: McCain should propose to Obama at tomorrow night’s debate that each one of them be wired to a lie detector which in turn is wired to an electrode attached back on their individual torsos. A lie would be “shocking” to the perpe’trait’or. I.E., you lie, you fry. Watching Obama dance around the stage would be great entertainment!


42 posted on 10/06/2008 2:45:06 PM PDT by dalcapret
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To: pabianice

Hmm. My experience is that if you write a letter to your Senator about, say, “my kid says Army food stinks,” your Senator forwards it to the Secretary of the Army and eventually receives a bland reply which he in turn forwards to you, along with a covering letter that says “if I can be of any further assistance....”

So I gotta wonder: did Obama write a letter to Paulson or did he just forward a constitutent’s letter for which he’s now trying to take credit?


43 posted on 10/06/2008 2:45:45 PM PDT by Grut
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To: tiredoflaundry
His request would make it worse!

No kidding! Which idea sounds better Obama's in Oct 2006 or McCain's from May 2006? (no need to answer - we all know how it turned out)

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. I urge my colleagues to support swift action on this GSE reform legislation - John McCain on the floor of the Senate May 25, 2006

44 posted on 10/06/2008 2:46:28 PM PDT by BookmanTheJanitor
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To: pabianice
From the National Review

Open this link to see a brilliant diagram of all of ACORN's work, and the Senators and presidential candidates who make it happen. Dodd, Frank, Schumer, and of course Barack Obama are stuck in the swamp of self-dealing, corruption, and politicial machinations, all masquerading as social justice and cheap real estate for the poor, at quite large taxpayer expense. This is a savvy Democrat web site. Follow the link for a really astonishing set of Democratic web sites which compete with each other in their exposition of Obama's perfidies, corruptions, and non-messianic attributes. Remember — former libs are much better at political knife fighting than those whose first instincts are, and remain, conservative.
45 posted on 10/06/2008 2:46:41 PM PDT by ckilmer (Phi)
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To: Proud_texan
The letter makes no mention of Freddie or Fannie and only focuses on the lenders helping people avoid foreclosure. This is NOT an attempt to reign in anyone. It was an attempt to treat a symptom (high foreclosure rate) and not the problem (bad loans to people who can't pay them).
46 posted on 10/06/2008 2:47:55 PM PDT by eggman (Obama is now The Zero. He used to be The One but he added Biden.)
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To: cookcounty
He must have taken care to carefully memorize this because they needed an unprovable fig leaf.

But here's the deal:

1) Obama's letter was completely ineffective -- no surprise there.

2) If this is the letter, and it was really written in 3/2007, then McCain had him beat on the topic by about two years.

3) AND ... McCain actually proposed legislation; i.e., something concrete ... and BEFORE he was a candidate for president.

4) Obama just yapped, as usual -- AFTER he was a candidate for president.

47 posted on 10/06/2008 2:48:43 PM PDT by r9etb
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To: queenkathy

They’re counting on the majority of America to assume it’s the truth, “I heard it on the news, so it must be true.”

And too many people are intellectually lazy enough to do just that.


48 posted on 10/06/2008 2:48:43 PM PDT by kenth (Will Rogers never met Barack Obama.)
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To: jennyjenny

He did write a letter to Paulson, which is posted on his Senate website. The letter does not say what he is claiming it says, however. In the letter, he is kvetching about how the poor people need protection against lenders who don’t tell them the whole truth about their sub-prime loan.

Obama never warned anybody that there was a financial crisis coming. Never. Obama is a compulsive liar and a poser. (And a poseur as well.)

http://obama.senate.gov/press/070322-obama_urges_ber/


49 posted on 10/06/2008 2:48:52 PM PDT by savedbygrace (SECURE THE BORDERS FIRST (I'M YELLING ON PURPOSE))
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To: Proud_texan

I got that impression too..she was really tap dancing. But to uninformed voters she probably made sense.


50 posted on 10/06/2008 2:48:55 PM PDT by Lets Be Frank
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