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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (137495)	9/18/2008 3:14:16 AM
From: Kevin Rose	Respond to of 173976

Let's count the number of flipflops that John McCain has made. But, because of the limited size of the internet, let's restrict it just to the past 2 days: 1) Was against regulation for 26 years, but for the past 26 hours has been for it. 2) Was against the government bailout of AIG Monday, but Wednesday's another day, another position. 3) Said the economy's fundamentals were strong 22 times this year, up to Monday, where - surprise - he's flipped again. He reminds me of the old guy who drives his car into someone's living room, and with that surprised look says: "Hey! Who put that house there?!"

To: LLCF who wrote (137495)	9/18/2008 9:54:57 AM
From: longnshort	1 Recommendation Respond to of 173976

From the Congressional Record: Again, Note the Date! FEDERAL HOUSING ENTERPRISE REGULATOR REFORM ACT OF 2005 The United States Senate, May 25, 2006 Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal. The Office of Federal Housing Enterprise Oversight Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac. … For Years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac — known as Government-sponsored entities or GSEs— and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay. americanelephant.wordpress.com.