Finally: McCain Links Obama To Financial Crisis

Posted by on 9/18/2008

John McCain shifted gears in Iowa today and reminded voters in Cedar Rapids that he predicted the outcome of the credit crisis two years ago, and few bothered to act.

Senator Obama talks a tough game on the financial markets but the facts tell a different story.  He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them.  He put Fannie Mae’s CEO who helped create this disaster in charge of finding his Vice President. Fannie’s former General Counsel is a senior advisor to his campaign.  Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent.  He didn’t lift a hand to avert this crisis.  While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments.  That’s not change, that’s what’s broken in Washington.

Let’s not leave out his fellow Democrats:

Those same Congressional leaders who give Senator Obama his marching orders are now saying that this mess isn’t their fault and they aren’t going to take any action on this crisis until after the election.  Senator Obama’s own advisers are saying that crisis will benefit him politically.  My friends, that is the kind of me-first, country-second politics that are broken in Washington.

And we can’t leave Biden out of this:

Today Senator Obama’s running mate said that raising taxes is patriotic.  Raising taxes in a tough economy isn’t patriotic.  It’s not a badge of honor. It’s just dumb policy.

Barack Obama, Democrats, Economy, John McCain, Presidential Election '08, State/Local Elections '06, , , , ,

1 Comments.

  1. Charles Hill 9/19/2008 at September 19, 2008 - 11:19 AM

    According to the New York Times, Democrats blocked Bush’s Fannie Mae and Freddie Mac reforms so low income people with bad credit could buy houses.
    ”These two entities -Fannie Mae and Freddie Mac – are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, and the less we will see in terms of affordable housing.” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.
    http://strategicthought-charles77.blogspot.com/2008/09/democrats-blocked-bushs-fannie-mae-and.html