Obama slammed McCain today for McCain’s call for a commission to investigate the Fannie Mae/Freddie Mac debacle. Obama’s surrogates are going around slamming McCain for the same reason. How interesting…and clever. The reason Mr. Slick Obama is decrying this call for a commission is because the investigation will uncover the fact that the top 4 recipients of campaign contributions of the broke Fannie and Freddie housing programs from 1988 to 2008 are Democrat senators John Kerry, Hillary Clinton, Christopher Dodd and no other than Mr. O himself. What’s troubling is that Dodd and Obama have the gall to blame the mortgage giants’ collapse on President Bush and McCain. How absolutely laughable.
McCain has been calling for reform of the quasi-governmental housing program since 2004. He’s on record as pushing for reform legislation on exactly this Fannie/Freddie program, but his bill was soundly quashed by the irresponsible Democratic Congress. As for Bush, according to the Washington Post
(http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.html), “The (Bush)administration not only identified the problem, it also recommended a solution. In June 2004, then-Deputy Treasury Secretary Samuel Bodman said: “We do not have a world-class system of supervision of the housing government-sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision.” Bush got involved in the effort personally, speaking out for the cause of reform when he said in December 2007, “Congress needs to pass legislation strengthening the independent regulator of government-sponsored enterprises like Freddie Mac and Fannie Mae, so we can keep them focused on the mission to expand home ownership.” He even mentioned GSE reform in this year’s State of the Union address.”
Before Obama and company start slinging mud that (as usual) has absolutely no validity, they should look in the mirror.
