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Post by tetherednchained on Sept 24, 2008 21:33:17 GMT -5
en.wikipedia.org/wiki/Franklin_RainesFranklin Raines' Franklin Delano Raines (born January 14, 1949 in Seattle, Washington) is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton. en.wikipedia.org/wiki/Jamie_GorelickJamie GorelickFederal National Mortgage AssociationEven though she had no previous training nor experience in finance, Gorelick was appointed Vice Chairman of Federal National Mortgage Association (Fannie Mae) from 1997 to 2003. She served alongside former Clinton Administration official Franklin Raines, and earned over $26,000,000 during her six years there.[citation needed] During that period, Fannie Mae developed a $10 billion accounting scandal.[1] On March 25, 2002, Business Week interviewed Gorelick about the health of Fannie Mae. Gorelick is quoted as saying, "We believe we are managed safely. We are very pleased that Moody's gave us an A-minus in the area of bank financial strength -- without a reference to the government in any way. Fannie Mae is among the handful of top-quality institutions."[2] One year later, Government Regulators "accused Fannie Mae of improper accounting to the tune of $9 billion in unrecorded losses".[3] In an additional scandal concerning falsified financial transactions that helped the company meet earnings targets for 1998, a "manipulation" that triggered multimillion-dollar bonuses for top executives.[4] Gorelick received $779,625. en.wikipedia.org/wiki/James_A._Johnson_(businessman) James A. Johnson (businessman)James A. Johnson (born December 24, 1943) is a United States Democratic Party political figure. He was the campaign manager for Walter Mondale's failed 1984 presidential bid and chaired the vice presidential selection committee for the presidential campaign of John Kerry. He was involved in the vice-presidential selection process for the 2008 Democratic presidential nominee Senator Barack Obama. From 1991 to 1998, he served as chairman and chief executive officer of the Federal National Mortgage Association (Fannie Mae), the quasi-public organization that guarantees mortgages for millions of American homeowners. Previously, he was vice chairman of Fannie Mae (1990-1991) and a managing director with Lehman Brothers (1985-1990). An Office of Federal Housing Enterprise Oversight (OFHEO) report[1] from September 2004 found that, during Johnson's tenure as CEO, Fannie Mae had improperly deferred $200 million in expenses. This enabled top executives, including Johnson and his successor, Franklin Raines, to receive substantial bonuses in 1998.[2] A 2006 OFHEO report[3] found that Fannie Mae had substantially under-reported Johnson's compensation. Originally reported as $6-7 million, Johnson actually received approximately $21 million.
Yes. All linked to Obama.
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Post by sometimes the voices argue on Sept 24, 2008 21:33:26 GMT -5
was it the existance of fannie and freddy, or their handling, that caused their downfall?
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Post by pdn on Sept 24, 2008 21:40:18 GMT -5
TNC, that that doesn't say is exactly WHERE the Fannie/Freddie money is coming from.
It's coming from individual contributions from it's employees, not from the actual company.
In other words, hard working secretaries, janitors, executive assistants, accountants, etc are making PERSONAL donations to the campaigns, and the CRP labels the employee's contributions as "contributions from Fannie/Freddie." It's misleading at the least, and an outright lie at best.
When you move higher up the food chain at Fannie/Freddie, and look at contributions from CEOs, managers and V.Ps in the company, suddenly McCain leaps to the top of the list.
Not to mention two of McCain's highest paid advisors lobbied for Fannie and Freddie... in one case lobbying AGAINST the regulations that would have reigned them in.
You also may want to look at the legislation sponsored and written by Phil Gramm, the architect of the murky securities that have currently flooded the market that the U.S. Treasury wants to buy up to allow the credit market to recapitalize. Gramm WROTE McCain's economic policy. He's directly implicated in this as he attached deregulation legislation to a bill which was funding children's health insurance... a cowardly way of getting a bill passed without an actual vote on the legislation.
Gramm's the guy who said we were in a "mental recession" and were all "whiners." Does he still feel the same way?
Or are the "fundamentals of the American economy still strong," as McCain announced last week? He's done a complete 180 on that, sheepishly calling for a commission, then the firing of the SEC Chief (which he lacks the authority to do), then the firing of the FEC chief... because he got his initials confused, and now a bailout of the entire industry.
Now he's cowering away from a debate? 90 minutes is going to somehow change the gridlock in Washington? (The gridlock created by... surprise, surprise, Congressional Republicans) Suspend his campaign? LOL, bullshit.
He's floundering and trying desperately to change the subject, as the American people, in poll after poll, say they trust Obama more with the economy... by as much as 20 points. He can't win this point.
Amazingly, he chose to postpone the debate on FOREIGN POLICY, which most people think is his strong suit, to try to address economics, which most thnk is his weakest area.
Who is running his campaign?
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Post by tetherednchained on Sept 24, 2008 21:40:46 GMT -5
was it the existance of fannie and freddy, or their handling, that caused their downfall? I think its the people you associate with and the money exchanged that make it a big deal. All those people have close associations with democrats over the years. Throws up a red flag for me. Facts are facts.
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Post by tetherednchained on Sept 24, 2008 21:49:43 GMT -5
cherrybomb, I am just saying that we; you, volk and sometimes the voices argue and I cant trust anyone in government right now.
I put up facts and you put up facts that cant be argued with. Lots of names high up, on both sides, getting lots of money from these institutions.
I have never said Obama is a bad man but it seams that for the most part you all just want to cut into the character of the people you disagree with and not acknowledge the faults of the leaders you do agree with.
Thats why I want to give up on discussions on this board.
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Post by pdn on Sept 24, 2008 21:53:59 GMT -5
en.wikipedia.org/wiki/Franklin_RainesFranklin Raines' Franklin Delano Raines (born January 14, 1949 in Seattle, Washington) is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton. Yes. All linked to Obama. WRONG. Franklin Raines' "link" to Obama came from a Washington Post story where RAINES himself egotistically claimed to have gotten two calls from "someone" in the Obama campaign. In fact, the Washington Post debunked this last week. Gave the claim two Pinnochios. Meanwhile, you may want to read up on: Charlie Black, who lobbied for Freddie Mac and is McCain's Chief Campaign AdvisorRick Davis, McCain's CAMPAIGN MANAGER, whose lobbying firm was taking payment from Fannie Mae until LAST MONTH! William Timmons, Sr., the head of McCain's transition team who lobbied for Freddie Mac until THIS MONTH. New York Times found: More than Mr. Obama, Mr. McCain’s circle of advisers and contributors includes current and former lobbyists or directors for the companies, although since July he has called for a ban on any lobbying by the two firms.
Among the companies’ past advocates are Mr. McCain’s campaign manager, Rick Davis, a longtime lobbyist; Mr. McCain’s confidant and adviser Charlie Black, whose firm worked for Freddie Mac for several years ending in 2005, and the deputy campaign finance chairman, Wayne L. Berman, a vice president for Ogilvy Worldwide and a former Fannie Mae lobbyist.
Mr. Davis previously was head of the Homeownership Alliance, a coalition of banks and housing industry interests led by Fannie and Freddie to stave off regulations.
The group was formed to counter another organization, FM Watch, an alliance of financial institutions and lobbying associations that wanted to even the playing field against Fannie Mae and Freddie Mac, by challenging the implicit government guarantee that allowed the two firms to borrow funds at lower interest rates.
Six members of the Republican lobbying firm Fierce Isakowitz & Blalock, all Fannie Mae lobbyists, have given Mr. McCain $13,250, records show.
The New York investor Geoffrey T. Boisi, a member of Freddie Mac’s board, contributed more than $70,000 to Mr. McCain and Republican Party committees working for his election. Both he and Richard F. Hohlt, a Fannie Mae lobbyist, are among the McCain “bundlers” who have raised $100,000 to $250,000 from others, according to the campaign Web site. Oh wait, there's more: Nineteen McCain advisers and fundraisers lobbied for Fannie Mae and Freddie Mac. Six of his advisers and fundraisers lobbied for Freddie Mac including: McCain’s Current Chief of Staff Mark Buse, top McCain adviser Charles Black, Carlos Bonilla, Al D’Amato, Juleanna Glover Weiss Susan Molinari. Thirteen of them lobbied for Fannie Mae including: McCain’s Congressional Liaison John Green, Head of VP Search Team AB Culvahouse, Wayne Berman, Kirk Blalock, Alberto Cardenas, Kirsten Chadwick, Richard Holht, Kate Hull, Aleix Jarvis, Tom Loeffler, Peter Madigan, Allison McSlarrow Aquiles Suarez. Who's more connected to Fannie/Freddie? That's a conversation John McCain DESPERATELY wants to avoid.
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Post by tetherednchained on Sept 24, 2008 21:57:49 GMT -5
en.wikipedia.org/wiki/Franklin_RainesFranklin Raines' Franklin Delano Raines (born January 14, 1949 in Seattle, Washington) is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton. Yes. All linked to Obama. WRONG. Franklin Raines' "link" to Obama came from a Washington Post story where RAINES himself egotistically claimed to have gotten two calls from "someone" in the Obama campaign. In fact, the Washington Post debunked this last week. Gave the claim two Pinnochios. Meanwhile, you may want to read up on: Charlie Black, who lobbied for Freddie Mac and is McCain's Chief Campaign AdvisorRick Davis, McCain's CAMPAIGN MANAGER, whose lobbying firm was taking payment from Fannie Mae until LAST MONTH! William Timmons, Sr., the head of McCain's transition team who lobbied for Freddie Mac until THIS MONTH. New York Times found: More than Mr. Obama, Mr. McCain’s circle of advisers and contributors includes current and former lobbyists or directors for the companies, although since July he has called for a ban on any lobbying by the two firms.
Among the companies’ past advocates are Mr. McCain’s campaign manager, Rick Davis, a longtime lobbyist; Mr. McCain’s confidant and adviser Charlie Black, whose firm worked for Freddie Mac for several years ending in 2005, and the deputy campaign finance chairman, Wayne L. Berman, a vice president for Ogilvy Worldwide and a former Fannie Mae lobbyist.
Mr. Davis previously was head of the Homeownership Alliance, a coalition of banks and housing industry interests led by Fannie and Freddie to stave off regulations.
The group was formed to counter another organization, FM Watch, an alliance of financial institutions and lobbying associations that wanted to even the playing field against Fannie Mae and Freddie Mac, by challenging the implicit government guarantee that allowed the two firms to borrow funds at lower interest rates.
Six members of the Republican lobbying firm Fierce Isakowitz & Blalock, all Fannie Mae lobbyists, have given Mr. McCain $13,250, records show.
The New York investor Geoffrey T. Boisi, a member of Freddie Mac’s board, contributed more than $70,000 to Mr. McCain and Republican Party committees working for his election. Both he and Richard F. Hohlt, a Fannie Mae lobbyist, are among the McCain “bundlers” who have raised $100,000 to $250,000 from others, according to the campaign Web site. Oh wait, there's more: Nineteen McCain advisers and fundraisers lobbied for Fannie Mae and Freddie Mac. Six of his advisers and fundraisers lobbied for Freddie Mac including: McCain’s Current Chief of Staff Mark Buse, top McCain adviser Charles Black, Carlos Bonilla, Al D’Amato, Juleanna Glover Weiss Susan Molinari. Thirteen of them lobbied for Fannie Mae including: McCain’s Congressional Liaison John Green, Head of VP Search Team AB Culvahouse, Wayne Berman, Kirk Blalock, Alberto Cardenas, Kirsten Chadwick, Richard Holht, Kate Hull, Aleix Jarvis, Tom Loeffler, Peter Madigan, Allison McSlarrow Aquiles Suarez. Who's more connected to Fannie/Freddie? That's a conversation John McCain DESPERATELY wants to avoid. Haha!New York Times and Washington Post! And there you have it. I am done. Believe what you want. Your side cant have done anything wrong in this even though I stated facts.
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Post by pdn on Sept 24, 2008 23:59:29 GMT -5
Haha!New York Times and Washington Post! And there you have it. I am done. Believe what you want. Your side cant have done anything wrong in this even though I stated facts. But see, you didn't state facts. You repeated debunked RNC talking points... as I pointed out with Raines. Instead of arguing the facts, instead of arguing about the numerous Fannie/Freddie lobbyists working for the McCain campaign, you just dismiss facts because they come from sources that you perceive aren't friendly to your cause. There's a legitimate argument to be made that Fannie/Freddie were the real precursors to the mortgage meltdown, but if you're going to judge Obama's campaign based on its connections to Fannie/Freddie, I'm going to point out how the Fannie/Freddie connections to the McCain campaign are much stronger, and much worse.
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Post by pdn on Sept 25, 2008 0:06:07 GMT -5
Those remarks were give after the bill essentially died. The bill was referred to committee, where Republican Committee Chair Richard Shelby gutted it and substituted his own bill for the one McCain championed. The Shelby version passed the committee on a party-line vote in July of 2005, but the Republicans never brought it to the floor to be voted on or debated. The bill died in committee, and only after it died, and coincidentally after McCain decided to run for Pres did he sign on as a cosponsor. Furthermore, the actual author of S.190, Chuck Hagel, reintroduced the act in 2007... but guess who didn't sign on? John McCain. It was an election stunt... yet another election stunt.
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Post by Volk on Sept 25, 2008 7:28:01 GMT -5
This is just another example of McCain making a big "gamble" with an important decision. Obama stays calm and collected, and McCain suspends his entire campaign and creates chaos. From my understanding, congress is very close to a deal, and McCain thinks he can just jump in at the end and try to claim credit for everything in the eyes of voters. (or at least Fox news anchors). There is no reason whatsoever they can't still debate. Even though the debate is scheduled to be about foreign policy, the topic will change to the economy about 30 seconds in. McCain is getting hammered in the polls, and he does something dramatic to change the focus. It shows just as much bad judgment with the economy as he showed picking Palin as his VP. (who is supremely UNQUALIFIED by any stretch of the term) With major decisions, he gambles instead of thinking it through.
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Post by ♥Ms J®♥ on Sept 26, 2008 12:23:23 GMT -5
All I know is that America now feels like it's a fucking third world country. And I blame EVERYONE in office.
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Post by Volk on Sept 26, 2008 16:59:38 GMT -5
As usual, you are damn right Jenna.
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Post by rockstars on Sept 26, 2008 17:05:31 GMT -5
Wow, can I just say I am utterly disappointed that anyone is supporting McCain and Palin? Seriously, just disappointing. McCain will die because he's so old in office if he wins, and we'll be stuck with Sarah Palin as president. Oh. Fuck. No. Bitch thinks that her being the governor of Alaska gives her knowledge of international policy because she can see Russia. And she makes comments about how we have to keep an eye on Russia as a matter of national security just in case "Putin rears his head".
What a bunch of fucking morons.
If you support McCain and Palin and vote for them, I hope you can be happy with yourself when this country goes even FURTHER down the shitter. After all, John McCain was quoted as saying that he's "running for George Bush's third term."
Ugh.
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Post by BTweety04 on Sept 26, 2008 18:30:34 GMT -5
Anyone who would say that McCain not wanting to attend the debate tonight is just a political stunt is wrong. Obama should be able to be a bigger person, put bipartisanship aside, and think more about what it good for this country not just what is going to make his campaign look good. Obviously this bailout issue is way bigger than either of their campaigns right now and they should be in Washington as senators and not as presidential candidates. Maybe that was a campaign stunt for Obama, to try and prove he can "handle more things at once".
Just my opinion.
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Post by Volk on Sept 26, 2008 18:41:53 GMT -5
Anyone who would say that McCain not wanting to attend the debate tonight is just a political stunt is wrong. Obama should be able to be a bigger person, put bipartisanship aside, and think more about what it good for this country not just what is going to make his campaign look good. Obviously this bailout issue is way bigger than either of their campaigns right now and they should be in Washington as senators and not as presidential candidates. Maybe that was a campaign stunt for Obama, to try and prove he can "handle more things at once". Just my opinion. So, McCain "supsended" his campaign to help Obama? I'm not quite sure I grasp your logic leap.
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Post by Volk on Sept 26, 2008 21:44:11 GMT -5
what? No flag pin on McCain during the debate? Why does he hate America?
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Post by BTweety04 on Sept 26, 2008 23:08:18 GMT -5
I never said anywhere that McCain was helping Obama. Frankly I don't even know how you got that out of my statement at all.
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Post by rockstars on Sept 27, 2008 10:33:00 GMT -5
Anyone who would say that McCain not wanting to attend the debate tonight is just a political stunt is wrong. Obama should be able to be a bigger person, put bipartisanship aside, and think more about what it good for this country not just what is going to make his campaign look good. Obviously this bailout issue is way bigger than either of their campaigns right now and they should be in Washington as senators and not as presidential candidates. Maybe that was a campaign stunt for Obama, to try and prove he can "handle more things at once". Just my opinion. Apparently you don't realize that one of these men WILL be the next president in four months. It was a cowardly publicity stunt for McCain, not Obama, to put his campaign "on hold" and suggest that he wouldn't be at the debate unless a bailout plan was agreed upon. And look at that, the miserable old douche showed up and there wasn't an agreed upon bailout package yet. Hmm. Imagine that. He's just a puppet for the Republican party. I didn't realize that there were so many closet Republicans on this board.
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Post by Volk on Sept 27, 2008 16:12:41 GMT -5
I never said anywhere that McCain was helping Obama. Frankly I don't even know how you got that out of my statement at all. the part where you said "Maybe that was a campaign stunt for Obama, to try and prove he can "handle more things at once".
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Post by BTweety04 on Sept 27, 2008 23:50:04 GMT -5
Anyone who would say that McCain not wanting to attend the debate tonight is just a political stunt is wrong. Obama should be able to be a bigger person, put bipartisanship aside, and think more about what it good for this country not just what is going to make his campaign look good. Obviously this bailout issue is way bigger than either of their campaigns right now and they should be in Washington as senators and not as presidential candidates. Maybe that was a campaign stunt for Obama, to try and prove he can "handle more things at once". Just my opinion. Apparently you don't realize that one of these men WILL be the next president in four months. It was a cowardly publicity stunt for McCain, not Obama, to put his campaign "on hold" and suggest that he wouldn't be at the debate unless a bailout plan was agreed upon. And look at that, the miserable old douche showed up and there wasn't an agreed upon bailout package yet. Hmm. Imagine that. He's just a puppet for the Republican party. I didn't realize that there were so many closet Republicans on this board. I'm not a closet republican at all. I am a registered republican and I will vote republican. I do not hide it. But anyway, I do know one of these men will be president. But it seems like McCain had the economy in mind more than the debate. I don't see how that is a bad thing. It is THE biggest issue right now, not how well they can recite words and show off their oratorical skills. I still think Obama was the person trying to capitalize on the situation and should have been more focused on what affects the country and not just his campaign.
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