Thursday, October 30, 2008


The audacity of Barack Obama- when a crisis rears its ugly head, you can be sure he will leap into action and vote present write a letter!

Mr. Obama replied that he “never promoted Fannie Mae” and that “two years ago I said that we’ve got a subprime lending crisis that has to be dealt with.” And that’s not all. “I wrote to Secretary Paulson, I wrote to Federal Reserve Chairman Bernanke, and told them this is something we have to deal with, and nobody did anything about it,” said the Illinois Senator.

There’s more. Mr. Obama’s March 2007 letter included a stirring call to “assess options” and boldly suggested that the two men “facilitate a serious conversation” about housing. He was even brave enough to suggest that “the relevant private sector entities and regulators” might be able to provide “targeted responses.” Then in paragraph four, the Harvard-trained lawyer dropped his bombshell: a suggestion that various interest groups get together to “consider” best practices in mortgage lending.

Hot Air gives us the conclusion to this exciting tale of extraordinary inaction-

Obama didn’t take that role [US Senator] seriously enough to take real action — like introducing legislation or sponsoring another Senator’s bill that attempted to stop the meltdown before it occurred.

John McCain, on the other hand, did take action. He co-sponsored Chuck Hagel’s bill that would have required Fannie Mae and Freddie Mac to adhere to responsible lending practices and loan-to-value standards. Obama, after writing his magnum opus to Henry Paulson, never bothered to support Hagel’s bill or introduce another for the purpose of reforming the GSEs. Instead, Obama took their money, becoming the second-highest recipient of Fannie/Freddie contributions in the Senate in the last 20 years — having only served less than four of those.

And the polls show the race almost neck and neck? It's unreal. Studying politics in America now is like peering through the looking glass into a wonderland where there logic is dashed hard to find.

Ace of Spades makes an important point here too-

Obama made the enemy combatants' defense his personal cause, the lawyers said: "Senator Obama worked with us to count the votes, and he personally lobbied colleagues who worried about the political ramifications of voting to preserve habeas corpus for the men held at Guantanamo."

A looming financial meltdown and Barack writes a letter.

Enemy combatants being held so that they do not return to the battlefield to kill American soldiers or commit terrorist acts aimed at civilians- and Barack works hard to provide them with legal protections. He makes that his personal cause.

No comments: