I never understood "swing voters". Probably never will considering I see the difference between Conservatism and socialism... I mean communism, er um, I mean liberalism as the difference between right and wrong. Good and evil. To me there is no grey area.

Maybe these swing voters are those who pay no attention to politics and the chaos coming out of Washington until the last few weeks before an election. Can't say I blame you. It's tiresome. But I also have to say that I- as one of your fellow Americans- think that those of you who pay no attention to what's going on are doing a great disservice to yourselves, your family and your neighbors by being cram session voters. Inattention, indifference, inaction, ignorance and indifference make for a dangerous voter. This is not a set it and forget it government. It's a government of the people. Washington needs baby-sitters, and like it or not, that is our job as voters.

I'm sure swing voters all have their reasons... whatever they may be, but love it or hate it, that's my opinion. Having said that, here's a something I think the Republicans should be shouting from the rooftops: Original source can be found HERE.

McCain needs to present this letter at Wednesday's debate. He needs to show it to America. He needs to point out that nowhere on there is Obama's signature. This isn't new news, it's just buried news. McCain has made half-hearted attempts at bringing it up, but hasn't really driven the point home.

McCain also had this to say back in 2006:

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.

 

The Republicans also warned of the coming crisis back in 2004. Here's what the idiots on the left had to say in response to that then:

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment Preview