Monday, September 29, 2008

The True Villians behind the Current Financial Crisis

Most experts say that the current financial crisis began when the federal government had to bail out Fannie Mae and Freddie Mac.    Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks are mortgage finance Government Sponsored Enterprises or GSEs.  When the housing market crashed, mortgage defaults were epidemic and the worth of the mortgages held by these GSEs declined rapidly to the point where Fannie and Freddie were on the verge of bankruptcy.

Today, Democrats, headed up by Nancy Pelosi, are blaming the Bush administration and Republicans for being anti-regulation.

They lie!

Use this link to see a montage of videos, beginning in 2004, where Republicans attempted on numerous occassions to warn that both Fannie and Freddie were in serious jeopardy due to lack of monitoring and regulation.  Watch in awe as Democrats, including Barney Franks, the chairman of the Finance Committee, belittle these concerns and defend the safety and security of both companies.  

I guarantee you that the next time you watch Senator Franks on TV, you will think differently of him, regardless of how you feel about him now.


The link below provides information about GSEs.

Holier Than Thou?

According to an article in the NY Times on Sept. 25th, Senator Obama's campaign complained a couple of weeks ago about misleading and untruthful statements in McCain ads. When he was asked if he would respond in kind, Obama said, “I just have a different philosophy, I’m going to respond with the truth,” adding, “I’m not going to start making up lies about John McCain.” However, Senator Obama has not kept his word.
  • An Obama appoved radio advertisement running in Wisconsin and other contested states misleadingly reports that Mr. McCain “has stood in the way of” federal financing for stem cell research; Mr. McCain did once oppose such federally supported research but broke with President Bush to consistently support it starting in 2001.  Sarah Palin does not support it but has vowed to defer to Senator McCain if he is elected.
  • An Obama approved commercial running here on Thursday morning highlighting Mr. McCain’s votes against incentives for alternative energy misleadingly asserts he supports tax breaks for “one source of energy: oil companies.” Mr. McCain’s proposed corporate tax break would cover all companies, including those developing new sources of power.
  • A new Obama approved television advertisement playing in areas with high concentrations of elderly voters and emphasizing Mr. McCain’s support for President Bush’s failed plan for private Social Security accounts misleadingly implies Mr. McCain supported “cutting benefits in half” — an analysis of Mr. Bush’s plan shows that the cuts would have applied to upper-income Americans retiring in the year 2075.
  • A much criticized Obama approved Spanish-language television advertisement wrongly links the views of Mr. McCain, who was a champion of the sweeping immigration overhaul pushed by Mr. Bush, to those of Rush Limbaugh, a harsh critic of the approach, and, frequently, of Mr. McCain. The advertisement implies Mr. Limbaugh is one of Mr. McCain’s “Republican friends,” and quotes Mr. Limbaugh as calling Mexicans “stupid and unqualified.” Mr. Limbaugh has written that his quotes were taken out of context and that he was mocking the views of others. 
In all, Mr. Obama has released at least five commercials that have been criticized as misleading or untruthful against Mr. McCain’s positions in the past two weeks. Mr. Obama drew complaints from many of the independent fact-checking groups and editorial writers who just two weeks ago were criticizing Mr. McCain for producing a large share of this year’s untruthful spots (The Spanish language ad was rated “Pants on Fire,” by PolitiFact, the fact-checking Web site of the St. Petersburg Times and Congressional Quarterly. The "Pants on Fire" rating is defined as, "not just false, but ridiculously false".  "False!" FactCheck.org said of his commercial on Social Security.

Tucker Bounds, a spokesman for Mr. McCain, said, “It’s bad enough that Barack Obama fictionalizes his own record, but it is a disgrace that he lies about John McCain’s.”

Exagerated ads placed by surrogates or the campaign itself are nothing new in American politics, but bald-faced lies directly from a presidential candidate with the intention of deceiving voters speaks volumes about the candidate's character and calls for doubt about the candidate's other verbal promises.  


Tuesday, September 23, 2008

You can count on Joe Biden!

Senator Biden is on a roll this week, staying true to his habit of tossing out verbal gaffes with impunity.

  • During one of his campaign speeches, he urged a wheelchair-bound invalid to stand up so the crowd could see him.
  • He stated that AIG should not be bailed out after running mate Obama said that they should be bailed out.
  • During a campaign stop in coal-rich rural Ohio, he stated that there would be no clean coal utilities in an Obama/Biden administration however Obama has vowed to develop and deploy clean coal technology.
  • He critized the Obama ad that belittled McCain for not being adept a using a computer and then backtracked.
  • He stated that during the stock market crash of 1929, President Roosevelt went on the TV to explain to the people what happened. Two problems: Hoover was the president at the time and TV was not yet invented.
  • He stated that Hillary would have been a better VP pick.
  • He claimed that it was a patriot duty for wealthy American to pay higher taxes.
Nothing like a little comic relief during a tough campaign.  I can't help thinking that if Obama gets elected, Biden is going to be a riot when he attends head-of-state funerals.



Saturday, September 20, 2008

Other Peoples Money

Joe Biden released 10 years of his tax returns and it turns out that he has averaged a miserly $369 per year in charitable deductions.  98% of people in his tax bracket contribute more.

As far as I am concerned, that's his business. However, when I couple that fact to his statement that anyone who earns $250,000 or more per year should feel a partiotic duty to pay higher taxes so it can be redistributed to people who make less, it confirms that he just another pandering hypocrite.

Joe's generosity knows no bounds as long as it's somebody elses money he's giving away.   

Thursday, September 18, 2008

Updated Gallup Poll Results

Daily Overall Election Results

Sept. 10-12'08 McCain 47%  Obama 45%
Sept. 4-6,'08 McCain 48% Obama 45%
Aug. 25-31,'08 McCain 42% Obama 48%


Details from Sep. 8-14, 2008: 

Support by church attendance (whites):
Weekly:  McCain 67 Obama 25
Monthly: McCain 62 Obama 31
Seldon/Never: McCain 44 Obama 48

Support by Gender:
Male: McCain 52 Obama 41
Female: McCain 43 Obama 48

Support by Gender - Whites:
Men: McCain 59 Obama 33
Women: McCain 51 Obama 40

Support by Race:
Non-Hsp White: McCain 55 Obama 37
Non-Hsp Black: McCain  4 Obama 93
Hispanic: McCain 35 Obama 55

Audacity & Hypocracy

One of the definitions of audacity is fearless daring.  Another is being boldly heedless of the restraints imposed by prudence, propriety, or convention.

Barrack Obama has highlighted the fact that John McCain has lobbyists working in his campaign.  What he neglects to mention is that they are former lobbyists and are not lobbying while employed by McCain.  Obama also fails to mention that he too has lobbyists working in his campaign and they are still lobbying during the campaign.  Here are the details:

Teal Baker, who received her first payment from Obama’s campaign on June 13, represented 18 corporations between Jan. 1 and June 30 of this year while working as a lobbyist for Podesta Group, a K Street powerhouse. Clients paid Podesta Group over $2 million during those six months for Baker and her colleagues to represent them, according to documents filed with the Senate Office of Public Records. 

Clients such as Oshkosh Truck and Pinkerton Consulting paid more than $700,000 for Emmett Beliveau and his colleagues at Patton Boggs to represent them during the first half of 2007. Beliveau received a $3,050 payment from Obama’s campaign for advance work on Feb. 21, a campaign finance report shows. 

Brandon Hurlbut, Obama’s liaison to veterans, union members and senior citizens in New Hampshire, represented clients such as the National Association of Mutual Insurance Companies and the Allegheny County Housing Authority from January to June, according to public records. Six clients paid B&D Consulting $380,000 for Hurlbut to lobby their causes. 

Click here to see the list of lobbyists working for current and former presidential candidates. You'll find that the Obama team has had more than it's share:


Isn't it hypocritical to condemn your opponent for doing the very same thing that you yourself are doing?



Wednesday, September 17, 2008

Fair & Balanced?

I've been taken to task for complaining about the pro-Obama media bias. My complaints have been catagorized as a typically Republican rant.

Therefore, I ask you to compare the interviews of both Senator Obama and Senator McCain on The View and send your comments about whether each candidate received fair  treatment.

Please notice the reaction of the audience to both candidates.  One thing is for sure, it ain't the audience!

Obama Interview Part 1

Obama Interview Part 2

Obama Interview Part 3

Obama Interview Part 4


McCain Interview Part 1

McCain Interview Part 2

McCain Interview Part 3