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McCain, Obama and Wall St.
Oct 7, 2008 | 11:51 PM PST
Category:
Political
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.
Fannie, Freddie, Frank
Oct 2, 2008 | 11:59 PM PST
Category:
Political
The blogs and boards on myfoxboston.com have been filled recently with partisan and personal attacks against Barney Frank that blamed him for our current financial crisis. Conservatives have blamed him for inaction before it happened and criticized his comments that Fannie and Freddie were fine.
As is often the case, conservatives gave an incomplete picture. Frank did try to fix the Fannie and Freddie problems before they got out of hand.
Three points:
1. In 2005, House Financial Services Committee Chairman Michael G. Oxley (R-Ohio) and ranking member Barney Frank (D-Mass.) sent a letter to Comptroller General David Walker asking him to look into the residential real estate brokerage market.
2. Frank sponsored H.R. 1427 Federal Housing Finance Reform Act of 2007 to reform Fannie/Freddie. It passed the House in May 2007 and was never taken up by the Senate. The FHFA was eventually created in the Housing and Economic Recovery Act of 2008, which the president signed into law on July 30.
3. Frank did say ''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis." But, he also said they weren't the best investments.
"The financial crisis we're living through today started with the corruption and manipulation of our home mortgage system. At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac." - John McCain, 9/19/8
I agree with that comment from McCain. Ultimately, the way in which lobbyists and politicians interact and how much money flows back and forth between the two is systemic problem we face. I hope the fixes announced this week will stabilize the situation in the short term.
In the long term, something else has to happen: We have to fix our campaign finance rules to limit the influence of the lobbyists McCain mentioned and the corporate interests they represent before Congress.
The rub for McCain is that his signature legislation on campaign finance reform is a total failure because McCain-Feingold didn't prevent corrupt lobbyists from affecting legislation to the detriment of the country.
The Obama campaign should use what is allegedly his strength, campaign finance reform, and turn it to their advantage. After all, it's the Bush/Rove/McCain way.
Palin vs. the truth
Sep 7, 2008 | 12:15 AM PST
Category:
Political
Sarah Palin has turned into a folk legend in a little more than a week since McCain picked her out of a GOP gubernatorial lineup to be his running mate. We've heard about her hunting and sporting prowess, her anti-earmark stance and her foreign policy/national defense experience.
I assume she is still a good shot with a gun or a basketball. The rest is apocryphal.
We've all heard about the infamous Bridge to Nowhere and how Governor Palin said "Thanks but no thanks". She did cancel the bridge that Alaska got between $230-270 million of our tax dollars. She also kept the money and spent it elsewhere.
She kept the spending and cut out the pork. I don't think it's supposed to work that way.
The other Palin myth is that she has foreign policy/national defense experience from commanding the Alaska National Guard. She commands it except when it's being used as a national defense asset. This includes training requirements, overseas deployments and a defense function like the 49th Missile Defense Battalion.
Those functions are within the U.S. military chain of command.
Passing judgment on Obama
Aug 24, 2008 | 10:23 PM PST
Category:
Political
Lots of TV talking heads are comparing judgment and experience this week as we lurch towards the general election and work out the impact of an Obama/Biden ticket. Some people in the so-called liberal media are saying the decision by Obama to pick a veteran politician Biden underscores his alleged lack of experience.
That analysis is incorrect.
By any criteria, Biden is qualified to be VP, and, as a result, fit to assume the presidency if needed. People may disagree with Biden's politics or dislike what he says but no says he can't handle the job.
Obama's first big test as the Democratic candidate for president is his decision to pick Biden as VP. By picking Biden, Obama has proven his judgment is sound.
John Kerry for VP?
Aug 19, 2008 | 3:45 PM PST
Category:
Political
Politics was the topic on Sheppard Smith's show today on Big Fox when there was a big surprise. Mary Anne Marsh floated John Kerry as a darkhorse candidate for Obama's VP. He would fill in the D.C. experience and the war hero categories on the ticket. But, he is open to the flip-flop critique.
To me, Kerry is a highly unlikely pick because of, well, electoral baggage. Plus, he's never been mentioned.
Evan Bayh or Tim Kaine seem to be the finalists.
McCain being McCain
Aug 15, 2008 | 12:20 PM PST
Category:
Political
hy·poc·ri·sy: a feigning to be what one is not or to believe what one does not ; especially : the false assumption of an appearance of virtue or religion.
John McCain's image has been one of pubic virtue and integrity on all issues. Everyone knows about his distinguished military service.
In a political context, however, McCain's status as a paragon of virtue is in tatters after a series of policy flip-flops, mistakes and inconsistencies. Even his once bulletproof image on ethical campaigning - remember McCain-Feingold? - has just taken a major hit.
According to the Washington Post, McCain's top foreign policy adviser, Randy Scheunemann, has been a paid lobbyist for the government of Georgia for four years and the company he started, Orion Strategies, was paid $800,000 by Georgia since 2004.
Scheunemann has not been paid anything by Orion Strategies since May 15, 2008, when the McCain campaign imposed tougher anti-lobbyist rules and forced him to pick the campaign or his company.
I'm pleased McCain has stricter standards for paid lobbyists who work for him. Where was Scheunemann's allegiance was since 2004, the client or the Senator?
McCain more "Celeb" than Obama
Jul 31, 2008 | 11:36 AM PST
Category:
Political
I have something good to say about John McCain, presidential candidate. He is good at irony without even trying to be.
You've seen the latest ad by McCain that dismisses Obama as a celebrity and compares him to Britney Spears and Paris Hilton to suggest he's a lightweight and isn't fit to lead. The issue of Obama's experience is legitimate but this comparison is ironic.
McCain has been America's most visible Senator long before anyone ever heard of Barack Obama. The media has fawned over him for a decade and continues to do so. He's been on SNL, sung about bombing Iran and even threw in a truly tasteless joke about Chelsea Clinton.
He also is a regular viewer of The Hills, by his own admission. He even got the endorsement of Hills uber-slattern Heidi Montag.
McCain even got a campaign contribution Rick and Kathy Hilton, who are also known as the parents of Paris Hilton.
Bush's new brain
Jul 16, 2008 | 9:50 PM PST
Category:
Political
Karl Rove has been dubbed "Bush's Brain" by some liberal Americans and at least one book. It appears Bush has found a new brain and named it Barack Obama.
Bush seems to be taking his policy cues from Obama lately. The Bush admin. is currently considering more troop withdrawals this fall than they previously expected. Also, the president is sending a representative to meet with a representative of Iran's government who is responsible for nuclear negotiations.
Let's see...Expanding troop withdrawals and meeting with Iran. Sure sounds like Bush hijacking two of Obama's big issues.
Mullahs for McCain?
Jul 8, 2008 | 6:29 PM PST
Category:
Political
Has Mahmud Ahmadinejad or Ali Hoseini-Khameni endorsed McCain yet? If not, they should because McCain is committed to continue the Bush administration policies that have been so good to Iran.
As we all know, Bush's invasion of Iraq has helped Iran more than any other country.
But, there's more.
According to the A.P., U.S. exports to Iran jumped "tenfold" during the Bush administration. Exports are even coming from some good "red" states like Florida and Louisiana.
I'm sure there are good reasons to export to an Axis of Evil state, right President Bush?
A VP for Obama
May 27, 2008 | 1:20 AM PST
Category:
Political
I think Obama needs to really deliver with his VP choice. Ideally, it's got to be an adult with a management or a national security background.
Hillary will get mentioned a lot. Two crucial names should be Biden or Jim Webb, along with Bill Richardson. Wesley Clark has the military background but is really a Clinton guy.
Kathleen Sebelius, governor of Kansas, is in the mix reportedly. Crazy, longshot options include Chuck Hagel, Claire McCaskill and Mike Bloomberg.
Justice for Hillary
May 27, 2008 | 1:18 AM PST
Category:
Political
People are asking, "What does Hillary want?" to try to explain why she won't drop out of the presidential race. She clearly wants to be Presient and seems to be warming up o being VP. She shld rethink that and maybe Obama should, too.
Obama could promise Hillary something Bill never did. Put Hillary on the Supreme Court.
Justice for Hillary?
May 27, 2008 | 1:15 AM PST
Category:
Political
I think Obama needs to really deliver with his VP choice. Ideally, it's got to be an adult with a management or a national security background.
Hillary will get mentioned a lot. Two crucial names should be Biden or Jim Webb, along with Bill Richardson. Wesley Clark has the military background but is really a Clinton guy.
Kathleen Sebelius, governor of Kansas, is in the mix reportedly. Crazy, longshot options include Chuck Hagel, Claire McCaskill and Mike Bloomberg.
Political Humor
May 19, 2008 | 8:40 PM PST
Category:
Political
One of the good things about This Week with George Stephanopolous each Sunday is the political humor segment to end the show.
Two examples from yesterday:
1. Jay Leno on Bush's speech at the Israeli Knesset and his not so subtle comments branding Obama as an appeaser...
"Bush attacked Obama over there so he didn't have to attack him over here."
2. Stephen Colbert on Hillary's reaction to John Edwards endorsement of Obama...
"John Edwards will need more than two America's to hide from Hillary Clinton.
The hypocrisy of Cindy McCain
May 14, 2008 | 9:23 PM PST
Category:
Political
I'm glad to see Cindy McCain has divested herself from over $1,000,000 worth of mutual funds tied to the Sudan. Hopefully others will follow her lead and pressure the Sudan to end the genocide in Darfur.
Mrs. McCain files a separate tax return from John McCain, which keeps her income private. She says she will never release her personal return. This is perfectly legal.
It's interesting that she makes a public spectacle of dropping an investment that would reflect poorly on her husband, an act that is properly PC, and keeps the rest of what is alleged to be a large portfolio under wraps.
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