Friday, September 26, 2008

Placing the Blame

The $700 BILLION dollar bailout is the result of many years of politics, greed, bad decisions and poorly conceived government policy. There is more than enough blame to go around without regard to political party.

However, as is to be expected, this issue is become a part of the rhetoric of the Presidential campaign. So we thought we would present a couple of items that might help clear the air of some misconceptions.

First, regarding John McCain:

"For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac... and the sheer magnitude of these companies and the role they play in the housing market... 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." ---John McCain (http://PatriotPost.US/alexander/edition.asp?id=578) arguing for passage of the Federal Housing Enterprise Regulatory Reform Act (S. 190) which he co-sponsored in 2005.

And now, regarding Barrack Obama:

If you have problems viewing the above, click here to go directly to YouTube.

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