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Old 09-24-2008, 09:18 PM   #331
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There are 100 Senators

and the Senate is pretty evenly devided


It will take bi-partisan support to get anything done.

something must be done.

Senators and Congressmen (435) need to be able to line up behind their nominee, one of these two will be President and they each have to step up take a position and lead

Obama make like to just vote present and then go where ever this ends up.


He needs to prove he capable or working across the isle find a solution.

If he is a true leader he should roll up his sleves and show the American people he capable of leadership and not just reading a TelePrompTer and saying "now is the time the oceans have stopped rising, etc."


Very nice. I love what he has to say, but it's getting tiresome. As I said, he talks to the people like I talk to a chick at a bar - he says what we want to hear, like I say what the girl wants to hear.
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Old 09-24-2008, 09:20 PM   #332
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Yea, but I would hope that if someone is 'interviewing' for a promotion, they would want to be part of an issue that they could in fact be stuck with while they are President. I would think that they would do everything in their power to try to get the bill their way now before the possibility of having to deal with it while they are President.
The bill is still in committee, and neither Obama or McCain are on the banking committee. They have already provided their opinions on what any bill should or should not have, and can communicate with their offices via phone or video conference. They would be a "fifth wheel" at this point in DC. McCain is going to DC to rally around the President, and apparently he has Bush's speechwriter involved - note the reference to 9/11 in his postponement speech.
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Old 09-24-2008, 09:22 PM   #333
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Yet Obama should be concerned since he is more likely to inherit this problem.
There is no evidence that Obama is not concerned about this problem. He has been speaking at length on the economy and was and has been more on target with the state of the economy than McCain has been so far. It's a logical mis-step to link the desire to postpone the debates to the level of concern with the issue.
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Old 09-24-2008, 09:25 PM   #334
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The bill is still in committee, and neither Obama or McCain are on the banking committee. They have already provided their opinions on what any bill should or should not have, and can communicate with their offices via phone or video conference. They would be a "fifth wheel" at this point in DC. McCain is going to DC to rally around the President, and apparently he has Bush's speechwriter involved - note the reference to 9/11 in his postponement speech.
Yes, they would be a 'fifth wheel'. You are correct in that. But, I would I'm glad to see McCain wants to be present for something he could potentially inherit. I would want to be there.

As for McCain rallying around the President, is this fact or just speculation because he's a Republican and made the reference to 9/11?
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Old 09-24-2008, 09:28 PM   #335
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Yes, they would be a 'fifth wheel'. You are correct in that. But, I would I'm glad to see McCain wants to be present for something he could potentially inherit. I would want to be there.
So is it more of an image thing, then? Wanting to see your (potential) president there in the mix? I can understand that. But again, in this multimedia age it's not really necessary to be physically present in order to fully understand what he's going to be inheriting.
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Old 09-24-2008, 09:31 PM   #336
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So is it more of an image thing, then? Wanting to see your (potential) president there in the mix? I can understand that. But again, in this multimedia age it's not really necessary to be physically present in order to fully understand what he's going to be inheriting.
Perhaps it's an image thing. I think we can only speculate as to the true nature of McCain's intentions of being present. It's highly possible this is a dirty political move. It's highly possible it's an image thing. It's highly possible that he genuinely does see this as an more important issue than campaigning right now since it's his job.

I don't think we'll know for sure until we see what kind of impact, if any, he had on being present.
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Old 09-24-2008, 09:32 PM   #337
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McCain and Obama do have records that go back to when 2005 when Obama was in the Senate

The record shows that McCain saw the problem coming and tried to get Congress to act. In 2005, both McCain and Obama served together in the Senate. Did Obama attempt to pass this reform, sign on as a co-sponsor, or even speak out in its favor?

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John McCain " 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."
In this speech, McCain managed to predict the entire collapse that has forced the government to eat Fannie Mae and Freddie Mac, along with Bear Stearns and AIG. He hammers the falsification of financial records to benefit executives, including Franklin Raines and Jim Johnson, both of whom have worked as advisers to Barack Obama this year. McCain also noted the power of their lobbying efforts to forestall oversight over their business practices. He finishes with the warning that proved all too prescient over the past few days and weeks.

It never made it out of committee. Chris Dodd, then the ranking member of the Banking Committee and now its chair, was in the middle of receiving preferential loan treatment from Countrywide Mortgage, one of the companies gaming the system in the credit crisis. Meanwhile, Barack Obama took hundreds of thousands of dollars from the lobbyists McCain mentions in this speech, making him the #2 recipient of Fannie/Freddie money.
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Old 09-24-2008, 09:36 PM   #338
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McCain and Obama do have records that go back to when 2005 when Obama was in the Senate

The record shows that McCain saw the problem coming and tried to get Congress to act. In 2005, both McCain and Obama served together in the Senate. Did Obama attempt to pass this reform, sign on as a co-sponsor, or even speak out in its favor?



In this speech, McCain managed to predict the entire collapse that has forced the government to eat Fannie Mae and Freddie Mac, along with Bear Stearns and AIG. He hammers the falsification of financial records to benefit executives, including Franklin Raines and Jim Johnson, both of whom have worked as advisers to Barack Obama this year. McCain also noted the power of their lobbying efforts to forestall oversight over their business practices. He finishes with the warning that proved all too prescient over the past few days and weeks.

It never made it out of committee. Chris Dodd, then the ranking member of the Banking Committee and now its chair, was in the middle of receiving preferential loan treatment from Countrywide Mortgage, one of the companies gaming the system in the credit crisis. Meanwhile, Barack Obama took hundreds of thousands of dollars from the lobbyists McCain mentions in this speech, making him the #2 recipient of Fannie/Freddie money.
If this is all true, I did not know this. This is definitely a very interesting find and gives me more to think about.
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Old 09-24-2008, 09:39 PM   #339
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So is it more of an image thing, then?
The majority of these Senators and Congressmen will be there next January.

Both of the candidates claim they are capable of working across the isle and bringing change.

This bail out will be the biggest thing in the U S financial history the next President will be dealing with this his whole four year term.

The fact that Obama is aloof on it is amazing. He cleared his schedule for three days to practice for the debate while our fanacial markets are collapsing.

His lack of interest and uninvolvement is just one more example of how he reminds me of W.
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Old 09-24-2008, 09:40 PM   #340
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There are also reports that McCain's campaign manager's lobbying firm took contributions from failing Freddie Mac as recently as last month.
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Old 09-24-2008, 09:42 PM   #341
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His lack of interest and uninvolvement is just one more example of how he reminds me of W.
But you're not bothered by McCain's impulsiveness and impracticality in demanding a solution to this by tomorrow?
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Old 09-24-2008, 09:42 PM   #342
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But still, no one has answered my question.

What if this was reversed and Obama was the one who rushed over and asked McCain to postpone the debate to solve this crisis....what would the Obama lovers think? I'm still waiting on an answer.
Obama can multitask. White House meeting Thursday, debate Friday:

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WASHINGTON (AFP) - US President George W. Bush is set to host White House rivals John McCain and Barack Obama, as well as top lawmakers, for unprecedented economic crisis talks on Thursday, a spokesman has said.

The news came as the US president, at pains to convince wary lawmakers to adopt his administration's 700-billion-dollar Wall Street rescue plan, took his case to the US public in a prime-time televised speech.

Bush, who telephoned Obama around 7:30 pm (1130 GMT), hopes "to work on driving toward a bipartisan and timely solution on the financial rescue package," said White House spokesman Tony Fratto.

...

Democratic presidential hopeful Barack Obama has said he would attend a White House meeting on the financial crisis, and stressed his view that the first 2008 US presidential debate should go ahead as scheduled Friday.

"A few moments ago, President (George W.) Bush called Senator Obama and asked him to attend a meeting in Washington tomorrow, which he agreed to do," Obama spokesman Bill Burton said Wednesday.
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Old 09-24-2008, 09:42 PM   #343
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If this is all true, I did not know this. This is definitely a very interesting find and gives me more to think about.

expect to see 100 times plus the one time he said, "I don't get the economy"
( an honest statement, who does? so many variables )

that is the only truth, many will let enter their consciousness
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Old 09-24-2008, 09:43 PM   #344
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Edit - I fucked this up. I haven't learned the fine art of multi-quoting yet.
You start a quote without the / in the tag, but end it with it.
[ Quote]Text[ / Quote] (of course, without the spaces)
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Old 09-24-2008, 09:44 PM   #345
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Obama can multitask. White House meeting Thursday, debate Friday:
yeah, but voting present is no longer an option
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