McCain unleashes on Obama and Democrats over Fannie and Freddie

October 6, 2008

From a speech John McCain will deliver today (h/t Hot Air):

Our current economic crisis is a good case in point. What was his actual record in the years before the great economic crisis of our lifetimes?

This crisis started in our housing market in the form of subprime loans that were pushed on people who could not afford them. Bad mortgages were being backed by Fannie Mae and Freddie Mac, and it was only a matter of time before a contagion of unsustainable debt began to spread. This corruption was encouraged by Democrats in Congress, and abetted by Senator Obama.

Senator Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed. But the truth is I was the one who called at the time for tighter restrictions on Fannie Mae and Freddie Mac that could have helped prevent this crisis from happening in the first place.

Senator Obama was silent on the regulation of Fannie Mae and Freddie Mac, and his Democratic allies in Congress opposed every effort to rein them in. As recently as September of last year he said that subprime loans had been, quote, “a good idea.” Well, Senator Obama, that “good idea” has now plunged this country into the worst financial crisis since the Great Depression.

To hear him talk now, you’d think he’d always opposed the dangerous practices at these institutions. But there is absolutely nothing in his record to suggest he did. He was surely familiar with the people who were creating this problem. The executives of Fannie Mae and Freddie Mac have advised him, and he has taken their money for his campaign. He has received more money from Fannie Mae and Freddie Mac than any other senator in history, with the exception of the chairman of the committee overseeing them.

Did he ever talk to the executives at Fannie and Freddie about these reckless loans? Did he ever discuss with them the stronger oversight I proposed? If Senator Obama is such a champion of financial regulation, why didn’t he support these regulations that could have prevented this crisis in the first place? He won’t tell you, but you deserve an answer.

(Emphasis mine)

Maverick has heard the word of the ‘Cuda — "Take the gloves off!" — and he has. Yeeee-HA!! This fight is on! Cowboy

Now, keep it up until Election Day. Dancing

 


Quote of the day

October 6, 2008

Fox’s Brit Hume on the McCain campaign’s reticence (but not Sarah Palin’s) to talk about Obama’s twenty-year long association with the disgusting "Reverend" Jeremiah Wright:

And what on earth are Joe Lieberman and John McCain talking about when they say that the long association with the Reverend Jeremiah Wright is off the table? Why is that off the table?

It’s an important part of Obama’s background and record. It’s one of the reasons people wonder about who he really is. My sense about it is that McCain is going to need to play rough, but it’s certainly within bounds to talk about Bill Ayres and Jeremiah Wright and Tony Rezko and the whole lot of them. And if the McCain campaign doesn’t do it, they’re out of their mind.

(Emphasis added)

Are you listening, Maverick? Waiting

For a refresher on Barack Obama’s spiritual mentor, watch this:

 

 


Obama, Fannie, and Freddie

October 6, 2008

Even if John McCain is reluctant to attack over the Democrats’ blocking of any reform at the two mortgage agencies, actions that lead directly to our current credit crisis, a new 527 isn’t:

 

Obama and the national Democrats are desperately trying to spin the crisis as the fault of President Bush and free market economics, and McCain’s reticence is only enabling them. This ad uses truth as a corrective and needs to be seen over and over again, and followed with more.

(hat tip: Hot Air)

 


The company you keep, one in a series

October 6, 2008

Via Steve in TN, here’s a video that goes into the background of the Weather Underground terrorist organization, leading members William Ayers and his wife, Bernardine Dohrn, and their relationship with Barack Obama. It’s a bit under nine minutes long:

  

  

Remember, no one in their right mind is saying Obama had anything to do with the bombings committed 40 years ago, or that he approves of bombings. But, as this video makes clear, Ayers and Dohrn, who were instrumental in launching Obama’s political career, have never recanted their radical past. Indeed, they are proud of what they did and continue to further their radical anti-American agenda through their work today. Obama could not have been unaware of their views. His association with them and his close working relationship with Ayers gives the lie to the Prophet Barack’s claim that Ayers was "just a guy in my neighborhood," and makes it clear he was comfortable working with radical, anti-American ideologues and former terrorists. 

And while you think about what Senator Obama thought of Ayers and Dohrn, ask yourself this: what is it in him they saw that they liked? 

And then ask yourself if you want such a man as president. 

For more on Obama and Ayers, see my previous posts here and here.

UPDATE: Welcome Sister Toldjah and Hot Air readers!

UPDATE 2: Erick Erickson at Red State did extensive research of major media from the time of the 1996 Democratic convention in Chicago, including Chicago’s own papers, to show that Barack Obama had to have known about Ayers’ background and views. He couldn’t have avoided it, unless he read no newspapers in the 1990s.

Yeah, right. (via Ed Morrissey)