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My thinking on that

by MattyG from MA

Last Post 5 days, 6 hours Ago


John McCain and Barack Obama are correct when they blame the greed and excess of Wall Street for our current fiscal crisis that seems to be out of control. Both men did it during Tuesday's debate and regularly mention it on the campaign trail.

If they are so upset by the greed and excess of Wall Street, why do they take money for their campaigns from banks and brokers? McCain got over $2.1 million for his campaign from Merrill Lynch, Lehman Bros., Wachovia and others. Obama got $2.8 million from the same crowd.

This doesn't include any funding given directly to either major political party.

It's no surprise that lobbyists can influence poicy with all of this money flowing in. It also underscores the need for serious campaign finance reform, which is something McCain-Feingold failed to give us.

You can check out political contributions at www.opensecrets.org.

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stephendclark read my blog view my photos
Oct 8, 2008 | 12:17 AM

Thanks for the backup, Bro'.

What a crowd here, huh?

I kind of thought it would be fun to come onto Fox25's website so I could step on Republican toes on their own turf.

I was right: It is fun.

As for your blog-post:

We have perhaps the government we deserve. I'm only recently coming to grips with the notion that all our policies are the fault of the public and not "the government." I'm reconciling myself to the notion that the government we have is the one we want.

"Government is the problem and not the solution."

Wrong: It's both because the government is us. WE are the problem -- but we are also the solution.

That's my take on revelation, sin and salvation.

Chip read my blog view my photos
Oct 8, 2008 | 5:47 AM

Or people can take individualo responsibiity, research the facts and vote their consciences...

CandiLayne read my blog
Oct 8, 2008 | 8:41 AM

I'm not too sure that I liked McCain's new style. Is Sara rubbing off on him? He seemed a lot more aggressive last night with his corny sarcasims and his attempts at the "Ooo in your face comments" I understand that at this point in the race it is time for mudslingin, but I am tired of hearing about the records and who they know in their past...."What the hell are you going to do with this country if elected?"

Am I hearing correctly that McCain wants to buy all of the delinquent mortgages? Wouldn't that add to our deficit? He doesn't want to prioritize the obvious issues in America he wants to work on them all at the same time? Is that advisable? Man I can't wait till this is all over. This is more stress on American's than we need!!!

Chip read my blog view my photos
Oct 8, 2008 | 9:04 AM

Actually, CandiLayne, this is the first SENSIBLE plan. by buying the mortgage, and refinancing it at the lower rate, for quaified buyers, we will re-coup the money given out. We'll actually make a profit, just like the banks do on GOOD mortgages.

Could you imagine a "profit making government"? If government began to make a profit, this wil reduce the national deficit...

With a bank bailout alone, we don't necessarily either save the credit and homes of the decent folks who made questionable personal decisions, nor do we ensure that we effectively get paid back.

Big plus for McCain on this one.

jovanone read my blog view my photos
Oct 8, 2008 | 9:07 AM

I was sick of hearing him calling us his friends. Friends this friends that, I was sick of hearing it like I was sick of hearing about how he's a maverick. Finally Joe Biden shut him down with that BS, thank God!!!!

Landslide victory for President Obama....

TheEliteOne read my blog
Oct 8, 2008 | 9:26 AM

The hair plug comment was pretty bad.
Referring to Obana as " that one " was another mistake. All the real analysts seem to think so.


This was supposed to be very informal, yet McCain starts writing comments before his rear hit the stool.
Obama gracefully looked at the crowd before sitting and rarely used the notepad.

NorthernObserver read my blog
Oct 8, 2008 | 9:33 AM

I will kick myself, but I agree with you.

However, the greed was seeded by Fannie Mae and Freddy Mac. These two companies were encouraged by the likes of Barney Frank to write bad mortgages which increased the compensation of the heads of these companies who just happen to be democrats.

Govmtlocust read my blog
Oct 8, 2008 | 1:01 PM

Yes Obama was graceful and charasmatic--if only that would make him something more than an empty suit with pretty wrappings...

bryansright read my blog
Oct 8, 2008 | 2:21 PM

no one knows eactly everything about this entire crisis, not even the ceo,s and middle management theives who stole billions of dollars . the only thing we can do now is send someone who isnt going to take this lightly, and someone who is for change.. and that someone isnt mccain who voted 4 out of 5 times in favor of bush. its clearly obama, and biden. sarah palin isnt qualified to have her govenors job and people in alaska are just starting to realise that. her hubby makes a ton of the decisions that are made in alaska not sarah. she had lied to the american people time and time again . and people are starting to get that as well. during those interviews where she showed her true colors, she embaressed the entire nation not just the republicans... and she showed the world that she isnt even qualifies to lead her own children in anything serious never mind the people of alaska or this entire nation... sarah palin is the biggest joke in plitics since k street. and that is the facts . anyone who thinks of this sarah palin woman as anything other then a total moron and uneducated mccain puppet just go on the internet and type in sarah palin / gibson/curik and watch the inteviews, see for yourself that non of the questions asked by either interviewer was a got ya question. they were resonable, straight forward, simple, non-loaded questions that anyother govenor would have answered not only corectly, but in a way that would have led us to believe that they know whats going on in and around the world today. simply put. sarah palin doesnt have a clue . about anything other then

Nohiddenagenda read my blog
Oct 8, 2008 | 10:31 PM

Stop watching TV and talking about how smooth someone came off or what ABC, NBC, CBS and CNN said.....read the facts and GOOGLE: OBAMA ACORN SUBPRIME MORTGAGE COMMUNITY REINVESTMENT ACT CLINTON. It will blow your mind!!!!! After you read then think of everything OBAMA has said during his campaign...HE SHOULD BE ASHAIMED OF HIMSELF

Chip read my blog view my photos
Oct 9, 2008 | 7:44 AM

A turd with grace and charisma is just a well mannered turd...

ahumbleman read my blog view my photos
Oct 9, 2008 | 8:12 AM

Chip, you should actually read the plan before declaring it to be the greatest thing ever. We're going to buy up these bad mortgages at their face value, not what their current value is. The primary beneficiary of this new McCain "plan" will be the financial firms who got us here, while the taxpayer is guaranteed to LOSE money on this supposed deal.

Chip read my blog view my photos
Oct 9, 2008 | 10:47 AM

Chris,

I understadn that. But actually yo are wrong. We will buy them at PRESENT MARKET VALUE of the property (a deflated rate) and remortgage for folks at a fixed rate with less principle, allowng for lowered monthly payments, and greater affordability.

BUT...even at a modest 6% interest, lower than you can get anywhere else, accepting that properties have devalued 40% (inflated figure, you will still realize over 150% on your original investment over 25 years or 2%/year to cover inflation.

It is, on the whole then, a cost free concept that both reduces the impact on citizens, AND frees up mortgage money from banks...

And yep, banks profit that way...but "bank hatred" is getting us nowhere.

ahumbleman read my blog view my photos
Oct 9, 2008 | 11:14 AM

Actually Chip, you should probably look at McCain's website, seeing as how his campaign has admitted that his plan calls for buying them at FACE VALUE, not at their current value. We will be purchasing them for more than they are currently worth, this plan is nothing but a dressed up screw you to the taxpayer.

FreeAmerica read my blog
Oct 9, 2008 | 12:15 PM

As of today,Thanks to your Government,we have reached $10-trillion World Wide Debt.Whew.....
Tax and Spend.No accountability.The so called MAN in charge,Barney Franks and crew,refusing to admit to anything.Pelosi ,with her womans BIG mouth,blaming everyone but the Demacratic party for the democratic failing to over see what they(the dems) where to over see.The congress in charge right now.The Democrats.And thet they blame the republicans?With there numbers,they can overturn anything they don't like.If every Dem stood together,they out number the Rep.party.Been that way about 2 years.And they still blame the republican party?How can that be?I'm confused?2 to 1 dems over reps,and they blame the reps?HOW?Can Someone explain that.

FreeAmerica read my blog
Oct 9, 2008 | 12:31 PM

http://wordpress.com/tag/community-reinvestment-act-of-
1977/

http://tsfiles.wordpress.com/2008/09/17/stop-blaming-wa
ll-street-democrat-policy-caused-banks-to-fail/

Read these.Carter was President at the time,right?A Democrate.A law He pushed thru.
How can Bush be responsible?for something that happened 23 years before he become President?As the financial crisis spreads, denials on Capitol Hill grow more shrill. Blame an aloof President Bush, greedy Wall Street, risky capitalism — anybody but those in Congress who wrote the banking rules.
Read the truths,I give addresses to these.They were the ones who screamed — “REDLINING!” — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.

FreeAmerica read my blog
Oct 9, 2008 | 12:37 PM

http://tsfiles.wordpress.com/2008/09/17/republicans-sou
ght-to-fix-freddiemacfanniemae-dems-refused/
“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

“I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Mr. Watt said.

FreeAmerica read my blog
Oct 9, 2008 | 12:49 PM

http://goodtimepolitics.com/2008/10/06/the-last-time-a-
charismatic-democratic-candidate-promised-them-a-tax-cu
t/
Mr. Clinton, of course, won that election. And as the inauguration approached, he began backtracking from his promise. At a Jan. 14, 1993, press conference in New Hampshire, he claimed that it was the media that had played up a middle-class tax cut, not him. A month later, he announced his actual plan before a joint session of Congress.

On page one of the New York Times, the paper described the fate of the middle-class tax cut this way: “Families earning as little as $20,000 a year — members of the ‘forgotten middle class’ whose taxes he promised during his campaign to cut — will also be asked to send more dollars to Washington under the President’s plan.”
So how about it people, is Obama talking out of his ass instead of his mouth when he says he will cut your taxes and raise taxes on the rich to support his socialist plans?

FreeAmerica read my blog
Oct 9, 2008 | 1:26 PM

http://overthehilloracles.wordpress.com/2008/10/05/obam
a-socializing-america-one-idiot-at-a-time/
http://www.ibdeditorials.com/IBDArticles.aspx?id=307667
123149723
ACORN's Senator
By INVESTOR'S BUSINESS DAILY | Posted Tuesday, September 30, 2008 4:20 PM PT

Election '08: Barack Obama wasn't just the second-largest recipient of Fannie Mae and Freddie Mac political contributions. He was also the senator from ACORN, the activist leader for risky "affirmative action" loans.
The CRA empowered regulators to punish banks that failed to "meet the credit needs" of "low-income, minority and distressed neighborhoods." It gave groups such as ACORN a license and a means to intimidate banks, claiming they were "redlining" poor and minority neighborhoods. ACORN employed its tactics in 1991 by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA.Obama was the attorney representing ACORN in this effort. Last November, he told the group, "I've been fighting alongside ACORN on issues you care about my entire career." Indeed he has. Obama was and is fully aware of what ACORN was doing with the money and expertise he provided. The voters should be aware on Nov. 4 of the roles of both in creating the current crisis.

Chip read my blog view my photos
Oct 9, 2008 | 2:00 PM

In the debate, chris, he said "purchase at deflated value" and cited the purpose as the reduction of PIT payment casued by the redcution in premium.

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MattyG

Amateur liberal pundit

Member Since: 1/16/2008