Blue Mass Group

Reality-based commentary on politics.

Comments

  1. The rest of the country has to see this clip. Please pass it along to any site. Maybe Keith Booberman at MSNBC will play it (YA RIGHT!).

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  2. You do realize that McCain has a consistent record of voting for deregulation of the financial industry that is an underlying cause of our current woes? And that his financial adviser Phil Gramm was instrumental in removing important checks and balances from the financial markets? You also realize that George Bush personally had to explicitly give permission to Fannie and Freddy to buy riskier mortgages?

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    p>Would like us to believe that their aren’t truckloads of “unpleasant facts” going the other way?

    • Calling Fannie Mae/Freddie Mac examples of deregulation is a gross distortion. True deregulation means you, the economic actor is exposed to UNLIMITED RISK AND UNLIMITED REWARD. Fannie Mae/Freddie Mac are political institutions charged with marrying “social justice” with financial markets. It simply can’t be done without meltdowns of the kind we are now seeing. The Democrats (Dodd,Frank,Kerry,Obama,Congressional Black Caucus) are grossly responsible for this mess. And unfortunately, no one will hold them to account. The media (mainstreams) are shamelessly compromised members of the Obama for President bandwagon. There are no unpleasant surprises coming the other way; the media would be cramming down our throats if there were even a HINT of such. Sorry

        • I can’t speak for Senator McCain but hope he will not succumb to the pressure to sign up for this bailout. I saw Charlie Rose’ interview with Mr. Greenberg of AIG and he maintained all along that the AIG problem could have been resolved without government intervention. I don’t know what will happen on this score.

            • The answer from my standpoint is no. I favor the House GOP approach on this issue, which means no public $ (or as little as possible) in whatever it is that finally comes out of Washington. I would hope that McCain would pursue a non-governmental $ approach here. I spoke with a mortgage banker in Massachusetts yesterday (Friday) and he said that he is processing mortgages and that the credit markets are no more constricted now than they have been over the past 4-6 weeks. So, this is not the CRISIS the Washingtonians would have us believe. Something must be done, but it doesn’t have to entail massive public $ expenditures. I have no sympathy for ANYONE involved in this catastrophy.  

              • You talk to Hillary Democrats who won’t vote for Obama, and mortgage bankers just as recently.  You talk to a lot of people.

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                p>Considering the WaMu fell, AIG fell, Fannie & Freddie fell, Lehmen Brothers fell, and there’s another big bank ready to crash on Monday (I’m sure your contacts have already told you who) — when does it become a crisis?

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                p>I think the right measure is somewhere in between the “screw America” approach of the House Republicans and the “give Bush everything he wants” approach of the Senate Republicans.  Establishing a government fund for endangered domestic companies that have implement visible pro-investor, pro-market reforms may be the best way to go.

  3. US News reports the latest sorry updates for the McCain campaign:

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    It’s only getting worse for John McCain’s campaign manager, Rick Davis. Following the news that Davis was paid $2 million over five years as president of an advocacy group set up by Fannie Mae and Freddie Mac, the New York Times now reports that Freddie Mac paid Davis’s lobbying firm $15,000 a month up until last month. The firm was kept on the payroll because of Davis’s close ties to McCain. The news comes after McCain insisted that Davis has had no involvement with Freddie Mac for several years, leading progressive bloggers to wonder whether McCain lied to Americans or whether Davis lied to McCain. Either way, liberal bloggers are irritated by the lies and secrecy and the fact that Davis did next to nothing for the money he received. They’re also skewering the statement McCain spokesman Michael Goldfarb published denying the allegations, calling it a “nondenial” and a “complete mess.” One blogger says the news should be “absolutely devastating” to the campaign. It’s unclear whether Davis will continue as McCain’s campaign manager.

  5. …get a better source than a blog with an agenda.  You will have to summarize the clip as I use dialup and can’t play it, but I click your link and read the post that went with it.  Does the clip even include Obama himself?  I’m more interested in the legislative record of the candidates on these issues.

  6. Using the same heading for everyone of your comments does not make it true.  Goebbels would be proud.

    • Being a former lobbyist for Fannie Mae, or…

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      p>…sleeping with an executive of Fannie Mae, accepting over $40,000.00 in campaign contributions from Fannie Mae, and sitting as the chairman of the committee that has oversight over Fannie Mae?

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