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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (2902)	10/27/2008 4:32:14 PM
From: Hawkmoon	1 Recommendation Read Replies (2) \| Respond to of 86355

Ok.. not "officially" Obama's Economic Advisor. Thank you for that correction. But Franklin Raines IS a Democrat, and he was responsible for telling us that 100% financing of private homes to non-qualified borrowers was so safe a bet that the GSEs should only be required to hold 2% capital reserves. And I think those Youtube videos capture the facts straight from the horse's mouths. Folks like Frank and Waters were VERY AGGRESSIVE in preventing the GSE's from being regulated and restructured. They spoke directly to the issues, IMO. You've been shown you their words on video. You've been shown you how groups, like ACORN, warped our low-income housing policies to give governmental assistance for HUD homes to illegal immigrants without social security numbers and you've been shown how they advocated wide-spread amnesty laws for those very same people. You've been shown how Obama has supported issuing driver's licenses for illegals. Now you have to ask yourself if the party you supported actually has your best interests at heart, or whether someone needs to do something that will mitigate (and punish where required) past abuses, and prevent them from reoccurring. Those are the facts that disturb me. And they should be disturbing you. But apparently they don't. That's displayed by your vigorous response regarding Franklin Raines, but SILENCE on the words coming from those democratic legislators. You also seem pretty silent on the fact that Obama is the leading recipient of financial support from the GSEs over 20 years, despite the fact that he's only been in office for 4 of those. That doesn't suggest a connection between Raines, Mudd, and Obama at all, now does it? We can both agree that the Bush administration has been a failure in this regard as well. They didn't have the spine to confront these actions, nor to prevent Wall Street from taking advantage of those liberal regulations. But I have no confidence that Obama will be able to control those interests, nor even have any incentive to do so. Nor do I think that Obama's intentions to raise capital gains taxes are particularly what this economy need at this moment. Hawk