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McCain thinks the entire financial crisis was caused by Fannie & Freddie....
So as CSPAN McCain is railing against Obama for not supporting McCain's oversight bill from 2005, as if Fannie and Freddie are the biggest problem, and the root cause of the 30% drop in the dow....
Nevermind that one of the reasons foreign gov'ts and investors poured money into the GSE's was the assumption they were backed by the gov't. Compared to Bear Stearns, Lehman, AIG and the bailout they are relatively minor; the gov't simply nationalized what investors had assumed was a nationalized company all along...(they found out a little late, but whatever).
Doesn't erase 26 years of being a constant voice for deregulation and more deregulation by a longshot....
Nevermind that one of the reasons foreign gov'ts and investors poured money into the GSE's was the assumption they were backed by the gov't. Compared to Bear Stearns, Lehman, AIG and the bailout they are relatively minor; the gov't simply nationalized what investors had assumed was a nationalized company all along...(they found out a little late, but whatever).
Doesn't erase 26 years of being a constant voice for deregulation and more deregulation by a longshot....
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McLame doesn't think; he makes statements. Nor is it likely he believes what he says. He'll say anything in effort to get elected.
October 6, 2008 4:15 PM | Reply | Permalink