The Democrats keep repeating the mantra that the financial crisis is the fault of the Bush Administration and Republicans. When is McCain going to hit back and lay this mess at the feet of those who created it and refused to do anything to control it? Bill O'Reilly ripped into Barney Frank, head of the House Financial Services Committee, last night for blaming everyone but himself and accepting no personal responsibility for this mess. In 2003, Frank said, "These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis." According to a New York Times article, Frank added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
How many people are aware that John McCain supported a proposal for oversight of FMAE and FMAC in 2005 while Democrats refused to support it and wanted approval for more suspect mortgages? McCain and Palin should hit the Democrats over the head with this until they knock them silly! See: http://beltwaysnark.com/2008/09/16/john-mccain-supported-a-proposal-for-... [8]
The bill was shot down by DEMOCRATS! Shove this right down their throats, talk about the push by Democrats during the Clinton administration to expand mortgage loans among low- and moderate-income people who were not qualified to receive these loans. Repeat as many times as necessary that the very groundwork for today's problems are rooted in Jimmy Carter's 1977 Community Reinvestment Act , and that in 2003 President Bush proposed the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis and was blocked by Democrats on party lines. Keep slamming Obama who has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Chris Dodd, the Senate Banking Committee chairman, who received more than $165,000. Barack Obama and his allies took the money and, for years, did nothing to resolve the credit crisis.
John McCain needs to push back against the way the media has painted this as the fault of Republicans, including McCain himself. If he continues to roll over and say nothing about this, McCain will go down with the ship.
Come on John! Fight with me, stand up, fight with me! Fight!
