The GOP’s October Surprise?

[luchabee]

I don’t think the arguments about the presidents’ (Clinton and Bush) contributions to the GSE efforts are compelling.

They may have supported them initially, but both Clinton and Bush issued calls for reform. It was the core set of Democrats who blocked reform, despite clear warnings from the government regulator.

Concerning the point about Wall Street encouraging GSE expansion CONTEMPORANEOUS with Republican calls for reform, I haven’t seen any evidence of this, just the Republican lead efforts to reform the GSEs.

Yes, everyone is to blame, but in my book two out of three the primary causes were from government action . . . the Feds keeping rates too low and for too long and CRA requirement that banks lend to unqualified borrowers in minority areas.

Concerning private sector “greed,” it was a giagantic part of the mix. However, I think if most people on this board had a job in Wall Street at the time, they would have participated, as well.

Finally, the real point of this post was not blame but whether the GOP was going to use this extensively(whether biased or not). McCain, though, seems to have jumped on and embraced the greed/populist argument instead of defending private sector action. Things may get so bad with the private sector economy, though, that populist arguments be his only chance at winning the election.

[luchabee]

With respect to the GSE leg of the problem, this was W’s call for reform in 2003 (after Clinton had also warned of problems), from the NYT:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

. . .

[luchabee]

With respect to the GSE leg of the problem, this was W’s call for reform in 2003 (after Clinton had also warned of problems), from the NYT:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

. . .

[luchabee]

With respect to the GSE leg of the problem, this was W’s call for reform in 2003 (after Clinton had also warned of problems), from the NYT:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

. . .

[luchabee]

With respect to the GSE leg of the problem, this was W’s call for reform in 2003 (after Clinton had also warned of problems), from the NYT:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

. . .

[luchabee]

With respect to the GSE leg of the problem, this was W’s call for reform in 2003 (after Clinton had also warned of problems), from the NYT:

New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

. . .

[DWCAP]

I generally try to avoid these pig political columns, but I gotta interject here. I supported McCain back in 2000 when he really was a maverick that would care more about what got done than who got credit. Now, he moved right to the Bush wing and I dont like it. Dont know what I am gonna do come election day, cept vote against any incombent who voted Yay last friday. Unfornatually that includes BOTH prez canadates.

But those political cartoons being called spot on and insightful is CRAP. They are political cartoons, and while funny, they are neither insightful nor realistic. One protrays Obama as having Judgemnet. About what? As if McCain doesnt? Obama supported the bailout. He has supported the takeovers of Fannie and Freddie and AIG and all the rest. He didnt support the surge that actually worked, in fact, his international experience is on par with Palin’s until last year. Remember that first really big international trip he went on when all major networks went with?
Again I ask ‘What JUDGEMENT?’ He voted against the IRAQ war, but that was from the Illonise state house. WOW. Voting against something unpopular when you have absoultly nothing on the line. Want a cookie for THAT!?!
(And last I checked Biden did vote for the Iraq war so if that is Obama’s “Judgement” than Biden cant have both)

As far a John’s posts. Dude, calm down. Pol’s care about power and image because apparently that is all that matters to the voters. Obama will not be the savior so many want him to be because as soon as he is elected he will have to deal with the reality on the ground and not alot of hot air and that reality SUCKS.

And to Afx’s or array’s or such posts being any better. What a supprise, democrats agreeing with democrats bashing Republicans. Whats really funny is that they think they are being above the party politics they so detest in the Republican posts.

Now PLEASE, someone please tell me why you support Obama. This isnt mean, sarcastic or backhanded. I really want to know because then I could maybe support a canadate again. 🙁 When you see “Judgement” what does that mean? I have seen nothing that he has had good judgement on when he had anything on the line. Some of that may be because he hasnt been around enough to rack up a long record, but that isnt a positive either. I dont care that he is black. I find it offensive that he gets special treatment, or political power, because of it. “I have a dream” was about equality, in all aspects including that a black man may not be the most qualified and there for shouldnt get the job.
I agree with the above post about Obama supporters not really knowing why they support him. I have run into the same thing ALOT. Mostly I get something about how they find him inspirational, but I equate that with “like like to have a beer with him”. I like Pigg’s. I think most of you are far more informed than those that I talk to everyday. So please, post some facts and tell me why you support Obama for Prez and not why you hate McCain. If I have to vote for the least detestable canadate instead of someone I want to, I will know the system is broken.

[DWCAP]

I generally try to avoid these pig political columns, but I gotta interject here. I supported McCain back in 2000 when he really was a maverick that would care more about what got done than who got credit. Now, he moved right to the Bush wing and I dont like it. Dont know what I am gonna do come election day, cept vote against any incombent who voted Yay last friday. Unfornatually that includes BOTH prez canadates.

But those political cartoons being called spot on and insightful is CRAP. They are political cartoons, and while funny, they are neither insightful nor realistic. One protrays Obama as having Judgemnet. About what? As if McCain doesnt? Obama supported the bailout. He has supported the takeovers of Fannie and Freddie and AIG and all the rest. He didnt support the surge that actually worked, in fact, his international experience is on par with Palin’s until last year. Remember that first really big international trip he went on when all major networks went with?
Again I ask ‘What JUDGEMENT?’ He voted against the IRAQ war, but that was from the Illonise state house. WOW. Voting against something unpopular when you have absoultly nothing on the line. Want a cookie for THAT!?!
(And last I checked Biden did vote for the Iraq war so if that is Obama’s “Judgement” than Biden cant have both)

As far a John’s posts. Dude, calm down. Pol’s care about power and image because apparently that is all that matters to the voters. Obama will not be the savior so many want him to be because as soon as he is elected he will have to deal with the reality on the ground and not alot of hot air and that reality SUCKS.

And to Afx’s or array’s or such posts being any better. What a supprise, democrats agreeing with democrats bashing Republicans. Whats really funny is that they think they are being above the party politics they so detest in the Republican posts.

Now PLEASE, someone please tell me why you support Obama. This isnt mean, sarcastic or backhanded. I really want to know because then I could maybe support a canadate again. 🙁 When you see “Judgement” what does that mean? I have seen nothing that he has had good judgement on when he had anything on the line. Some of that may be because he hasnt been around enough to rack up a long record, but that isnt a positive either. I dont care that he is black. I find it offensive that he gets special treatment, or political power, because of it. “I have a dream” was about equality, in all aspects including that a black man may not be the most qualified and there for shouldnt get the job.
I agree with the above post about Obama supporters not really knowing why they support him. I have run into the same thing ALOT. Mostly I get something about how they find him inspirational, but I equate that with “like like to have a beer with him”. I like Pigg’s. I think most of you are far more informed than those that I talk to everyday. So please, post some facts and tell me why you support Obama for Prez and not why you hate McCain. If I have to vote for the least detestable canadate instead of someone I want to, I will know the system is broken.

[DWCAP]

I generally try to avoid these pig political columns, but I gotta interject here. I supported McCain back in 2000 when he really was a maverick that would care more about what got done than who got credit. Now, he moved right to the Bush wing and I dont like it. Dont know what I am gonna do come election day, cept vote against any incombent who voted Yay last friday. Unfornatually that includes BOTH prez canadates.

But those political cartoons being called spot on and insightful is CRAP. They are political cartoons, and while funny, they are neither insightful nor realistic. One protrays Obama as having Judgemnet. About what? As if McCain doesnt? Obama supported the bailout. He has supported the takeovers of Fannie and Freddie and AIG and all the rest. He didnt support the surge that actually worked, in fact, his international experience is on par with Palin’s until last year. Remember that first really big international trip he went on when all major networks went with?
Again I ask ‘What JUDGEMENT?’ He voted against the IRAQ war, but that was from the Illonise state house. WOW. Voting against something unpopular when you have absoultly nothing on the line. Want a cookie for THAT!?!
(And last I checked Biden did vote for the Iraq war so if that is Obama’s “Judgement” than Biden cant have both)

As far a John’s posts. Dude, calm down. Pol’s care about power and image because apparently that is all that matters to the voters. Obama will not be the savior so many want him to be because as soon as he is elected he will have to deal with the reality on the ground and not alot of hot air and that reality SUCKS.

And to Afx’s or array’s or such posts being any better. What a supprise, democrats agreeing with democrats bashing Republicans. Whats really funny is that they think they are being above the party politics they so detest in the Republican posts.

Now PLEASE, someone please tell me why you support Obama. This isnt mean, sarcastic or backhanded. I really want to know because then I could maybe support a canadate again. 🙁 When you see “Judgement” what does that mean? I have seen nothing that he has had good judgement on when he had anything on the line. Some of that may be because he hasnt been around enough to rack up a long record, but that isnt a positive either. I dont care that he is black. I find it offensive that he gets special treatment, or political power, because of it. “I have a dream” was about equality, in all aspects including that a black man may not be the most qualified and there for shouldnt get the job.
I agree with the above post about Obama supporters not really knowing why they support him. I have run into the same thing ALOT. Mostly I get something about how they find him inspirational, but I equate that with “like like to have a beer with him”. I like Pigg’s. I think most of you are far more informed than those that I talk to everyday. So please, post some facts and tell me why you support Obama for Prez and not why you hate McCain. If I have to vote for the least detestable canadate instead of someone I want to, I will know the system is broken.

[DWCAP]

I generally try to avoid these pig political columns, but I gotta interject here. I supported McCain back in 2000 when he really was a maverick that would care more about what got done than who got credit. Now, he moved right to the Bush wing and I dont like it. Dont know what I am gonna do come election day, cept vote against any incombent who voted Yay last friday. Unfornatually that includes BOTH prez canadates.

But those political cartoons being called spot on and insightful is CRAP. They are political cartoons, and while funny, they are neither insightful nor realistic. One protrays Obama as having Judgemnet. About what? As if McCain doesnt? Obama supported the bailout. He has supported the takeovers of Fannie and Freddie and AIG and all the rest. He didnt support the surge that actually worked, in fact, his international experience is on par with Palin’s until last year. Remember that first really big international trip he went on when all major networks went with?
Again I ask ‘What JUDGEMENT?’ He voted against the IRAQ war, but that was from the Illonise state house. WOW. Voting against something unpopular when you have absoultly nothing on the line. Want a cookie for THAT!?!
(And last I checked Biden did vote for the Iraq war so if that is Obama’s “Judgement” than Biden cant have both)

As far a John’s posts. Dude, calm down. Pol’s care about power and image because apparently that is all that matters to the voters. Obama will not be the savior so many want him to be because as soon as he is elected he will have to deal with the reality on the ground and not alot of hot air and that reality SUCKS.

And to Afx’s or array’s or such posts being any better. What a supprise, democrats agreeing with democrats bashing Republicans. Whats really funny is that they think they are being above the party politics they so detest in the Republican posts.

Now PLEASE, someone please tell me why you support Obama. This isnt mean, sarcastic or backhanded. I really want to know because then I could maybe support a canadate again. 🙁 When you see “Judgement” what does that mean? I have seen nothing that he has had good judgement on when he had anything on the line. Some of that may be because he hasnt been around enough to rack up a long record, but that isnt a positive either. I dont care that he is black. I find it offensive that he gets special treatment, or political power, because of it. “I have a dream” was about equality, in all aspects including that a black man may not be the most qualified and there for shouldnt get the job.
I agree with the above post about Obama supporters not really knowing why they support him. I have run into the same thing ALOT. Mostly I get something about how they find him inspirational, but I equate that with “like like to have a beer with him”. I like Pigg’s. I think most of you are far more informed than those that I talk to everyday. So please, post some facts and tell me why you support Obama for Prez and not why you hate McCain. If I have to vote for the least detestable canadate instead of someone I want to, I will know the system is broken.

[DWCAP]

I generally try to avoid these pig political columns, but I gotta interject here. I supported McCain back in 2000 when he really was a maverick that would care more about what got done than who got credit. Now, he moved right to the Bush wing and I dont like it. Dont know what I am gonna do come election day, cept vote against any incombent who voted Yay last friday. Unfornatually that includes BOTH prez canadates.

But those political cartoons being called spot on and insightful is CRAP. They are political cartoons, and while funny, they are neither insightful nor realistic. One protrays Obama as having Judgemnet. About what? As if McCain doesnt? Obama supported the bailout. He has supported the takeovers of Fannie and Freddie and AIG and all the rest. He didnt support the surge that actually worked, in fact, his international experience is on par with Palin’s until last year. Remember that first really big international trip he went on when all major networks went with?
Again I ask ‘What JUDGEMENT?’ He voted against the IRAQ war, but that was from the Illonise state house. WOW. Voting against something unpopular when you have absoultly nothing on the line. Want a cookie for THAT!?!
(And last I checked Biden did vote for the Iraq war so if that is Obama’s “Judgement” than Biden cant have both)

As far a John’s posts. Dude, calm down. Pol’s care about power and image because apparently that is all that matters to the voters. Obama will not be the savior so many want him to be because as soon as he is elected he will have to deal with the reality on the ground and not alot of hot air and that reality SUCKS.

And to Afx’s or array’s or such posts being any better. What a supprise, democrats agreeing with democrats bashing Republicans. Whats really funny is that they think they are being above the party politics they so detest in the Republican posts.

Now PLEASE, someone please tell me why you support Obama. This isnt mean, sarcastic or backhanded. I really want to know because then I could maybe support a canadate again. 🙁 When you see “Judgement” what does that mean? I have seen nothing that he has had good judgement on when he had anything on the line. Some of that may be because he hasnt been around enough to rack up a long record, but that isnt a positive either. I dont care that he is black. I find it offensive that he gets special treatment, or political power, because of it. “I have a dream” was about equality, in all aspects including that a black man may not be the most qualified and there for shouldnt get the job.
I agree with the above post about Obama supporters not really knowing why they support him. I have run into the same thing ALOT. Mostly I get something about how they find him inspirational, but I equate that with “like like to have a beer with him”. I like Pigg’s. I think most of you are far more informed than those that I talk to everyday. So please, post some facts and tell me why you support Obama for Prez and not why you hate McCain. If I have to vote for the least detestable canadate instead of someone I want to, I will know the system is broken.

[PadreBrian]

Using the old swift-boat technique:

http://keatingeconomics.com/

[PadreBrian]

Using the old swift-boat technique:

http://keatingeconomics.com/

[PadreBrian]

Using the old swift-boat technique:

http://keatingeconomics.com/

[PadreBrian]

Using the old swift-boat technique:

http://keatingeconomics.com/

[Author]

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