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| McCain proved he has the experience and the right actions to lead us in the future. Tax cuts and spending cuts while Obama didn't substantively refute and named no specific cuts but named 3 new spending programs. And he wants to sit down unilaterally with Ahmadinejad, not understanding how that makes us look weak, and wants to pull out of Iraq when it's almost in the bag. More taxes, more spending, no experience, NoBama!! |
| posted by ellen on 09/27/2008 09:09 AM
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I just wish Obama would have been more forceful in showing that the financial mess we are in today is caused by a politics of deregualtion that McCain supports.
A foreign policy of aggression instead of diplomacy does not allow for stability. By invading Iraq, did we create stability for the region or security for US? Someone has still to prove it.
Vero |
| posted by Vero on 09/27/2008 11:08 AM
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I thought the debate to be very interesting. I am a Obama supporter (in case you couldn't figure that out, haha), and I think that last night both canidates did a good job. I think McCain's time to shine was last night, because of his military experience and the topics up for debate, and I think he did show experience and knowledge...that being said, Obama held his own and did so with class. McCain came off as condescending at times, nervous most of the time, and subject changed whenever it came to speaking about anything other than foreign relations. Obama doesn't have as much foreighn relations experience as McCain, true, but he chose wisely to include Joe Biden on his ticket, who does. As far as who McCain chose...don't even get me started. I think that we'll see more of a dominance by Obama in the upcoming debates, and an all out kill by Biden when he debates Ms. Glasses McHunter next week. Sorry, couldn't resist.
Anyway...round one = TIE |
| posted by on 09/27/2008 02:23 PM
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Actually CNN poled the whole audience, plus those who where online and Obama "won" the debate. Fifty-one percent of those polled thought Obama did the better job in Friday night's debate, while 38 percent said John McCain did better.
Men were nearly evenly split between the two candidates, with 46 percent giving the win to McCain and 43 percent to Obama. But women voters tended to give Obama higher marks, with 59 percent calling him the night's winner, while just 31 percent said McCain won. |
| posted by Alisa on 09/27/2008 08:27 PM
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Vero, how do you figure that the mess is the fault of the republicans? I find quite the opposite to be true, the dems party line voted down quite a few measures to fix this problem as far back as 2001.
White House warned about Fannie and Freddie
September 23, 2008 - 0:49 ET
For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
2003
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that "although investors perceive an implicit Federal guarantee of [GSE] obligations," "the government has provided no explicit legal backing for them." As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. ("Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO," OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO's review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
2004
February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
2005
April: Treasury Secretary John Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)
2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)
2008
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages." (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and "modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes." (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
"Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans." (President George W. Bush, Radio Address, 5/3/08)
"[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator." (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans." (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying "we need to pass legislation to reform Fannie Mae and Freddie Mac." (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President's call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
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| posted by Jeff on 09/27/2008 09:35 PM
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| Thank you Jeff. Frankly I'm tired of hearing everyone blame President Bush for everything. Most of the things he is getting blamed for are previous administrations' screw-ups. |
| posted by Bonnie on 09/28/2008 09:22 PM
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| In my ever humble opinion, when it comes to foreign policy, I would much rather have a calm & collected (& yes, eloquent) person in the white house meeting with our allies & also our enemies. No one can deny this is a global situation both economically & socially. Obama showed he can take others points into consideration while stating his own. McCain looked like he was just an irritated man because everyone doesnt think he is entitled to the presidency due to his heroism. His body language alone would alienate more potential allies than Bush himself. This election should not be treated like a sporting match, it should be about who has the best view of the future, & who can get us there. McCain has sooo much experience, but here we are.... |
| posted by Angela on 09/28/2008 10:39 PM
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| And Ellen, do you really believe IIraq is "almost in the bag?" I remember Cheney saying they were in the "last throws" 3 years ago.... |
| posted by Angela on 09/28/2008 10:40 PM
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"McCain looked like he was just an irritated man because everyone doesnt think he is entitled to the presidency due to his heroism. His body language alone would alienate more potential allies than Bush himself. This election should not be treated like a sporting match, it should be about who has the best view of the future, & who can get us there. McCain has sooo much experience, but here we are...."
No. McCain looked irritated and had such body language due to the utter disrespect of Obama. Obama is a talking head, how he convinced so many people that he is change is beyond me. Lots have drank the koolaid though. |
| posted by Jeff on 09/29/2008 08:55 AM
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My point is that the last 8 years we had a Republican president and for the most part majority in both houses. There has never been political willingness to regulate the market so that abuse will not occur.
However, the bailout goes totally against Republicans ideas that the market will regulate itself, at some point something went terribly wrong. Maybe it is time to put ideology aside and rewrite the rules.
Vero |
| posted by Vero on 09/29/2008 12:46 PM
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Yes, the republicans are generally for small government and against regulation, but the proof is right there in my first post...the repubs, namely the epitome of evil bush, tried to get regulation passed to control freddie and fanny. The dems party line voted it down consistently.
I lean republican (obviously), but I'm tired of all this party line crap. They don't want bush to be remembered for anything good, so they try to put a big black stain on it with this. The media has made it all into bush and the right wing's fault. It happens both ways, I'll freely admit. |
| posted by Jeff on 09/29/2008 12:54 PM
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Sorry to jump in, but even the Republicans don't like Bush anymore....the President with the lowest popularity.
Unfortunately Bush will be remembered also by our grandchildren!!!!
Juliet |
| posted by Juliet on 09/29/2008 07:03 PM
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| Bonnie and Jeff I agree wholeheartedly with you. People are blaming so many things on one person. You can't blame an economic crisis on one person...it takes many years for something like this to happen and its caused by the public and companies. He might not have picked the best ways to deal with it, but then again what is the best way. I was a huge fan of Bush his first 4 years....it seems now that he got bought out and is more of a pawn which makes me sad. It's like he forgot his roots. To those who don't understand politics---Congress declares war..not the president. I am all for this war. This war is to protect our freedom as were all other wars. There were always ill talking people throughout all wars--there always will be. |
| posted by on 09/29/2008 08:20 PM
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So Jeff, I'm curious, you agree he had terrible body language & an utter disrespect for his fellow senator? Whatever happened to "country first"? Will he act that way while trying to promote peace & democracy? Will he turn his back on those he disagrees with while negotiating trade policies & treaties?
This is the most important election of our lifetime, taking place during some of the worst times of our generation. Are we to elect someone with such childish behavior at such an advanced age? |
| posted by Angela on 09/30/2008 01:05 AM
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Beth,
Did I read that right? You are "all for this war?" I suppose that means you will send your children when the time comes? Can you explain to me (no cutting & pasting or fox news soundbites) what it is you think there is about 4200 dead kids to be "for" exactly? That is madness, no rudeness intended.
We lied our way in, & we cant lie our way to victory on the way out. |
| posted by Angela on 09/30/2008 01:10 AM
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| I believe Jeff stated that McCain had the body language he did due to the utter disrespect of Obama, not that McCain was the one showing disrespect. So, in response to that, I would ask you if Obama can't show respect to his fellow senator, what kind of respect will he show for fellow world leaders? |
| posted by Pamela on 09/30/2008 02:31 AM
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| Pamela, you yourself are making my point exactly. McCain showed a lack of maturity, & Obama looked cool & in control, period. In the end, the people will decide what they want, & hopefully we can reclaim our country as Americans, not dems or repubs. Unless perhaps you still think things are just fine. |
| posted by Angela on 09/30/2008 08:24 AM
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Oh I LOVE IT! :)
I have to be careful though...people have called me "hateful" for arguing like you have been. Haha! |
| posted by on 09/30/2008 08:48 AM
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"Pamela, you yourself are making my point exactly. McCain showed a lack of maturity, & Obama looked cool & in control, period. In the end, the people will decide what they want, & hopefully we can reclaim our country as Americans, not dems or repubs. Unless perhaps you still think things are just fine."
Listen, we have seen how McCain deals with foreign leaders. He's been there, done that. I promise you, if Obama sits down with a leader and acts as cocky and immature as he did in this debate (and most other debates he's done as well, go watch the clinton/obama debates), we will have a much bigger problem then this financial mess.
Cool and collected? Are you kidding me? Anyone who's been through freshmen speech class should know better then to "umm...uhhh...well, jo, John...ahhh, listen....". As for your responce to Beth, I would send my son to war if he felt called. The men who've died over there didn't die in vein. I get together nearly every friday night with a two tour vet. You know what he says? He says he's sick of the media portraying such a lie about the war. He was constantly having kids run out in the streets when the soldiers showed up because they were so glad to have them there. There are a few bad pockets, and he's been there too, but he said the VAST majority of Iraq is extremely grateful for what we are doing.
Do you have any proof otherwise that isn't copy and pasted from CNN or NBC since apparently FOX isn't allowed? |
| posted by Jeff on 09/30/2008 09:03 AM
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I dont have 'proof' as you request, as I too only have my opinion, & my views. I have friends whose children have died, & our own government admits we lied our way in. I do read postings on votevet.org, & they send a different message than your friends. I will continue to reiterate this point.. Where will the troops come from to continue this endless war?
I think the pauses you speak of during the debate are due to thinking as opposed to reading talking points. If you truly believe John McCain & Sarah Palin will bring change, or that things are swell, then by all means go & vote for them proudly. I respect your opinions, I just completely disagree. |
| posted by Angela on 09/30/2008 09:30 AM
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| One more point...I think you may be right when you say Iraq is grateful for what we are doing. They currently enjoy an 85 billion dollar surplus, while our deficit climbs to record levels. I'd be grateful too... |
| posted by Angela on 09/30/2008 09:44 AM
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"One more point...I think you may be right when you say Iraq is grateful for what we are doing. They currently enjoy an 85 billion dollar surplus, while our deficit climbs to record levels. I'd be grateful too..."
Just when I start thinking you quit taking cheap shots ;)
I highly appreciate your previous post, the agree to disagree thing is hard to come by these days. |
| posted by Jeff on 09/30/2008 09:48 AM
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Yes Angela if my son feels lead to be in the military I will send him with honor and pride. I have a cousin who has served two tours and would do it again who brought back pictures of him and kids and several people who are grateful for US presence. I sat by a man on a plane who had just left his 1 week old son who said that he does not regret going back and is willing. We are liberating people in a country that has been severely oppressed. Do you deny them freedom that they could not have done on their own? Not everyone is receiving that surplus.
16000 people died from drunk driving in 2005, so far during the Iraqi war 4,000,000 babies have been aborted. Are you against drinking which people now what to lower the age to 18? Are you against abortions? In both cases neither party voluntary went to serve. |
| posted by on 09/30/2008 11:40 AM
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I'm not sure how to answer you Beth, I guess I have to say ..Yes, I am against drunk driving, & yes I am against abortion... But people are free to make choices, whether I agree with them or not.
Is that the point you really wanted to make? |
| posted by Angela on 10/01/2008 10:10 AM
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Choice is all well and good, but who gives the power to kill a human?
I hear that it's the mother's choice. Well, you don't seem to have wanted bush, but it happened. Do you have the right to kill him? No? Is his right to life due to the fact that he passed through a birth canal? He has a heart beat? He has breathed Oxygen? Wait, when the abort a baby, they do too...hmm. Maybe it's because he can talk. Lets extend abortion until babies are about a year old, kind of like a "12 months satisfaction guaranteed" plan, then if you make the mistake of keeping your baby and later decide you don't want it, you don't have to deal with that. Heaven forbid anyone have any inconvenience in their life.
The other big one I hear is that if we make it illegal they will just do it anyway in more dangerous ways. This is the biggest lie that has ever been sold (well, maybe other then the fact that we need credit to function in life and business...but that's another thread). Heroin is illegal, and lots of people are getting AIDS by using dirty needles. Maybe we should make it available OTC so that they can get some safe equipment. People still murder each other, but that's illegal. Maybe we should legalize that too to prevent all those tortured souls from having to break the law. |
| posted by Jeff on 10/01/2008 10:19 AM
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Jeff, you seem like a nice kid, & a good dad..
We kill all the time, I dont want to get into a theological discussion with you about life & death. As a repub, my assumption is that you are pro life, pro death penalty. So it is okay to kill for some mistakes, but not others. Beth's argument was silly & yours is kind of too.
War sucks, abortion sucks, drunk driving sucks, etc, etc. I think we can all agree on that. |
| posted by Angela on 10/01/2008 10:30 AM
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| Pro death penalty...well, I don't really oppose it, but don't you think that it's kind of silly to compare the crime of being conceived to the crime of (fill in the blank that gets you the death penalty)? They can sit in jail and rot for all I care, my only issue with that is it seems like the serial rapists and murderers all get out "on good behavior". It's a whole lot cheaper to the taxpayers to just give someone a shot if the intention is for them to serve out the remainder of their life in jail. |
| posted by Jeff on 10/01/2008 10:41 AM
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| Yes Jeff, crime sucks too. |
| posted by Angela on 10/01/2008 10:44 AM
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