. . . but I just can't help myself. I hate liars. I may hate hypocrites more.
Obama is now blaming McCain for the financial crisis in the U. S. financial market.
What Obama fails to mention is that McCain SUPPORTED regulation of Freddie and Fannie back in 2005. He co-sponsored SB 190, the FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005. McCain said:
"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."
Question 1: Who opposed? All Democratic members of the Senate Committee on Banking, Housing, and Urban Affairs. It was killed before it was given a chance to vote.
Question 2: Who deregulated the industry in the first place? Hint: The guy who signed the bill was also famous for leaving deposits on blue dresses. His advisor: Alan Greenspan.
Trivia fact: One of Obama's financial advisors was President of Fannie Mae. Yep, one of those "overpaid CEOs" who took $50 million in salary while driving Fannie Mae into the ground. Another top advisor is ANOTHER Fannie Mae CEO, who walked out with $35 million.