Originally posted by: retrospooty
Originally posted by: AllWhacked
Originally posted by: Thump553
Please also provide a link for your assertion that Obama "just says 'call me if you need me.'
Here's the quote from ABC:
Obama said he will stay in Florida for the time being and will not return to Washington unless asked by Congressional leadership.
"I've told the leadership in Congress is that if I can be helpful then I am prepared to be anywhere at anytime," he said.
Source
While I did not use Obama's exact quote, that's essentially what he said. As for Euro-Disney, if you can't infer that I meant Obama's European vacation this summer, where he gave a speech in Germany in front of the Brandenberg Gate acting as if he's already the POTUS, then I'm sorry if you failed to recognize it as such.
And you think McCain dramatically suspending his campaign is anything more than a political ploy while he is losing momentum? Give me a break. They have both made thier opinions known... McCain has publicly admitted he doesnt know much about the economy... and has proven it again and again with idiotic comments. What exactly do you think him being there will benefit? HE knows nothing, other than deregulation that is largely responsible for this mess.
Get some perspective man!
My perspective is that that as of today, there aren't enough republican votes to get this passed. At least, not enough that Pelosi is going to risk it passing.
Source
As stated in the article:
"Republicans are the key to passing the bailout because Pelosi has told members of her caucus she won?t bring the package to the floor unless there is substantial Republican support. But conservative Republicans have rallied against the plan, and former House Speaker Newt Gingrich (R-Ga.) said earlier this week that Republicans should vote against the it."
Reid even said: "Tuesday that only one Republican on the Banking panel could be counted on to support the proposal first floated by Paulson and Federal Reserve Chairman Ben Bernanke."
And "Rep. Tom Cole (Okla.), the chairman of the House Republican campaign committee, declared the only way to save the bailout would be for McCain and Sen. Barack Obama (D-Ill.) to take the lead, and for the Senate to vote before the House."
Polls show that like only 10% of Americans support this plan and Bush's speech did little to convince me to support it. The two candidates need to stick their neck outs and either support this bailout or not.
As for John McCain and deregulation, he at least is on the record to push for regulation of Fanny Mae and Freddy Mac. Even though there was an attempt to setup a regulation board in 2003 by the Bush Administration (which didn't pass), in 2005 McCain supported the Federal Housing Enterprise Regulatory Reform Act of 2005. In May 25, 2006, he spoke before congress and said:
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?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.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator?s examination of the company?s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
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.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislation."
The Act didn't pass and was blocked along party lines, meaning the Dems blocked it. Where was Obama during all this?