No, McCain sponsored a spoiling bill to block a Democratic bill that would have actually reformed mortgage lending. I'm going to do a blog post soon which will show how the mortgage crisis, Fannie and Freddie etc. happened. Be sure to look out for it, it'll be an entertaining read. I'm just hoping I bump into a few more nice quotes over the next few days before I post it.
You'll see that the current meltdown came about due to a bunch of deregulation led by McCain's buddy Phil Gramm. The McCain campaign refused to comment a few days ago when asked would Gramm be appointed Secretary to the Treasury in a McCain administration so he's clearly still in the running. In a democracy with a free press McCain potentially appointing the enabler of the current mess to clean it up and be in charge of introducing and enforcing new regulation when he's made a lucrative career of smashing regulation would make a few headlines.
Obama isn't buddies with either his ex-pastor or Ayers, a man who sits on charitable committees that both Republicans and Democrats sit on. No Obama economic advisor has worked for Fannie and Freddie, never mind the top ones. One guy was mistakenly called an advisor by one newspaper and the McCain campaign seized on it to claim Obama was being advised by the guys who brought you the Fannie and Freddie bailout, the companies responsible for six trillion in debt.
However the opposite is true. McCain's campaign manager was lobbying for Fanie and Freddie till last month, even after it was clear they were fucked, something else that isn't getting much medai coverage. And they were paying for literally nothing other than the campaign manager would have a big job in a McCain government (like Karl Rove) and would get them access. That's technically illegal. He should be facing conflict-of interest SEC charges. If you or I did that we'd be breaking the law.
And now he's acting like a drama queen because he's behind in the polls. He really is a sorry individual.
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