McCain, Obama Tackle Economic Meltdown

I do not trust this man.

I do not trust him either. The only reason he is yelling is because we are yelling. If we change our minds tomorrow he will be yelling something different. He will say anything to get you to vote for him.
Wasn’t the Keaton Five (not sure what it was called) was McCain not involved in this and was this along the same line and we had to pay big time to bail them out???

Everyone’s “uncomfortable with bailout money in the hands of only one person” but that’s the risk we have to take… unless you [McCain] have a better plan…
???

Average Joe: I agree. This man should be in jail facing charges and someone we can trust should step in. Also, congress needs to stand firm on everything today.

so why exactly is mccain admiring paulson? there is nothing to admire there, a bandit who made hundreds of millions of dollars in fraudulent mortgage deals!
just to have the audacity to ask congress to give him 700 billion dollars.. shouws his intents. paulson is just a criminal and he should be in jail!
STOP THE MADNESS!!

For a guy campaigning on family values, John McCain has broken up a lot of marriages. When he met his first wife (a swimsuit model), she was married to another man. After breaking that marriage up, she stuck by him loyally as he went off to war and was a prisoner for 5 and a half years. When he returned to America, though, he found out that she had been in a car wreck and wasn’t as pretty. So he had a series of affairs, by his own admission, and dumped his wife and adopted family for a younger, very rich blond (now Cindy McCain.) Cindy, the daughter of a wealthy Budweiser beer distributor, was addicted to prescription narcotics and even stole hard drugs from a medical charity that she ran. In February, 2008, the New York Times ran a big article about the unusually close relationship between John McCain and a young telecommunications lobbyist named Vicki Iseman (who looks uncannily like Cindy McCain did when SHE was 25). They became so close that his staff, convinced they were having an affair, confronted both McCain and Iseman, telling them to back off. Now, a lot of people have criticized the Times for hinting without actually saying that McCain had sexual relations with that woman. But really, it doesn’t matter. It’s a matter of record that he accepted money and favors from her, spent a lot of time for her, and did favors for her clients. Among other things, McCain wrote two letters — from a draft provided by Vicki Iseman — to the head of the Federal Communications Commission — which was way out of line, since McCain headed the Senate Commmerce Committee, which controls the FCC. McCain’s pressure was so outrageous that, even though McCain was in charge of funding his commission, the FCC commissioner wrote a letter back rebuking him for his interference, at the height of McCain’s “ethics in government” campaign.
So, was McCain sleeping with her, hoping to sleep with her, or being subconsciously manipulated by a cute young woman? It doesn’t really matter. He was being led by his groin into ethical violations. Let’s face it, he was 64 at the time and is 72 now. Whether he is still cheating or not, he seems to be led by his d***; witness the videos of McCain checking out Sarah Palin’s butt during the speech where he introduced her.

Deeds not words …

The people of the US aren’t that concerned with one persons oversight of a bailout of US and foreign banks worth 500+ billion dollars? It seems they would rather live in a socialist fantasy land with Obama on top. Really sad.

dvdivx, aren’t we socializing the banking industry now? please think before you use your comfy labels. ‘socialist’ is so 1950s.

John McCain is a true American, and a hero. We love you John! McCain/Palin 08

FROM SLATE
——————-
Is John McCain a Crook?
Chris Suellentrop
Posted Friday, Feb. 18, 2000, at 2:35 PM ET
The controversial George W. Bush-sponsored poll in South Carolina mentioned John McCain’s role in the so-called Keating Five scandal, and McCain says his involvement in the scandal “will probably be on my tombstone.” What exactly did McCain do?
In early 1987, at the beginning of his first Senate term, McCain attended two meetings with federal banking regulators to discuss an investigation into Lincoln Savings and Loan, an Irvine, Calif., thrift owned by Arizona developer Charles Keating. Federal auditors were investigating Keating’s banking practices, and Keating, fearful that the government would seize his S&L, sought intervention from a number of U.S. senators.
At Keating’s behest, four senators–McCain and Democrats Dennis DeConcini of Arizona, Alan Cranston of California, and John Glenn of Ohio–met with Ed Gray, chairman of the Federal Home Loan Bank Board, on April 2. Those four senators and Sen. Don Riegle, D-Mich., attended a second meeting at Keating’s behest on April 9 with bank regulators in San Francisco.
Regulators did not seize Lincoln Savings and Loan until two years later. The Lincoln bailout cost taxpayers $2.6 billion, making it the biggest of the S&L scandals. In addition, 17,000 Lincoln investors lost $190 million.
In November 1990, the Senate Ethics Committee launched an investigation into the meetings between the senators and the regulators. McCain, Cranston, DeConcini, Glenn, and Riegle became known as the Keating Five.
(Keating himself was convicted in January 1993 of 73 counts of wire and bankruptcy fraud and served more than four years in prison before his conviction was overturned. Last year, he pleaded guilty to four counts of fraud and was sentenced to time served.)
McCain defended his attendance at the meetings by saying Keating was a constituent and that Keating’s development company, American Continental Corporation, was a major Arizona employer. McCain said he wanted to know only whether Keating was being treated fairly and that he had not tried to influence the regulators. At the second meeting, McCain told the regulators, “I wouldn’t want any special favors for them,” and “I don’t want any part of our conversation to be improper.”
But Keating was more than a constituent to McCain–he was a longtime friend and associate. McCain met Keating in 1981 at a Navy League dinner in Arizona where McCain was the speaker. Keating was a former naval aviator himself, and the two men became friends. Keating raised money for McCain’s two congressional campaigns in 1982 and 1984, and for McCain’s 1986 Senate bid. By 1987, McCain campaigns had received $112,000 from Keating, his relatives, and his employees–the most received by any of the Keating Five. (Keating raised a total of $300,000 for the five senators.)
After McCain’s election to the House in 1982, he and his family made at least nine trips at Keating’s expense, three of which were to Keating’s Bahamas retreat. McCain did not disclose the trips (as he was required to under House rules) until the scandal broke in 1989. At that point, he paid Keating $13,433 for the flights.
And in April 1986, one year before the meeting with the regulators, McCain’s wife, Cindy, and her father invested $359,100 in a Keating strip mall.
The Senate Ethics Committee probe of the Keating Five began in November 1990, and committee Special Counsel Robert Bennett recommended that McCain and Glenn be dropped from the investigation. They were not. McCain believes Democrats on the committee blocked Bennett’s recommendation because he was the lone Keating Five Republican.
In February 1991, the Senate Ethics Committee found McCain and Glenn to be the least blameworthy of the five senators. (McCain and Glenn attended the meetings but did nothing else to influence the regulators.) McCain was guilty of nothing more than “poor judgment,” the committee said, and declared his actions were not “improper nor attended with gross negligence.” McCain considered the committee’s judgment to be “full exoneration,” and he contributed $112,000 (the amount raised for him by Keating) to the U.S. Treasury.

renka21: I find it hard for McCain to have a record when he never shows up to vote. Obama may have voted present but he was there and I am sure he had his reasons why to not pass a bill at that time. Maybe it was the others bills attached.

Another commission – great, thanks for the brilliant advice. Oh, and it should be bipartisan instead of partisan? Great advice again. How about even just a few guidelines on how the money should be spent and what strings should be attached?

You idiots who keep saying “deregulation” don’t even understand what the problem here is.
You are embarassing yourselves. Keep your talking points to yourselves because you’re out of your leagues you Obamablogging trolls.

What does it tell you about Bush and the Republicans that when the taxpayers are going to ante up $700 billion to save their pals from fallout from their greed and mismanagement, they say that bringing CEO compensation down to reasonable levels is a DEALBREAKER. They’re greedy pigs, lipstick or no lipstick. And they have the nerve to say that they are the Party of character??

McCain saw this coming but because Democrats had to play partisan politics it stalled after being approved by the banking committe.
FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005
“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…
…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…”
Source: http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190

There is something very suspicious about what the Republican administration is doing. They took the Country to two wars and cut taxes at the same time. Its as if there was no financial assessment of cost for the things they were doing. John McCaine have the same aproach.
Going back to Reagan the Republicans always run up large deficits and blame the democrats for not cutting spending even though they have been in charge in both branches for at least six of the last eight years.

for those of you that are reacting only on the premise of loyalty to obama please at least read the proposal. otherwise your comments are only biased opinions.
this is not about who wins. this is about the economic future of this country. EDUCATE YOURSELVES READ IT FIRST the proposal is online.
it is completely undemocratic to put ONE person who was not elected by the people in charge of the people’s money for starters. think, read!
undecided purple person

Colorado,
Thank you.
The level to which people are willing to destroy the country for political gain is sickening. It is nice to see one reasonable person out there.
Anyone who tries to blame Obama or McCain for this mess is a fool – both have tried at times in the past to have more government regulation or oversight.

Think about THIS at least why is Mccain disagreeing (AT GREAT POLITICAL RISK) with his own party at this critical time when he needs his party’s support for this election.

JA,
Barack supports the bail out with the controls that the Dems are currently insisting on.
Can you please sound less idiotic. You are starting to sound like the rest of us idiots.

vanessa he has a plan; he is suggesting an oversight board that includes ‘the people’ whose money it is.
putting the money in the hands of the same criminals that brought us the mess is totally insane thinking.
undecided purple person who does not care which guy wins but lets get this thing right before proceeding with partisan loyalty.

it is a shame and a big slap in the face to the american public for paulson and bush to present such a thing to congress. basically, a one pager that says give paulson $700 billion. that thing was scribbled in a hurry 15 minutes before presenting it to congress.
the entire nation’s financial well being is at stake and they have the impertinence to go to congress with such a thing and then bush start yelling we should do this in a hurry..
SHAME SHAME SHAME!!!!!!!!!

I am a democrat who is voting for McCain/Palin because they have proven that they care for the people and will fight corruption.
I don’t trust Obama. He is all about himself and has no record of challenging the system.
I hope the DNC wakes up in 2012

LauraDC: you are not a Democrat, and what record does McCain have that proves to you he will fight corruption and change the system?? He is the corruption.

JA
It has been proven on more than one occasion that you are the one who does not know what he is talking about..
so calling the people who are getting the facts idiots…
is a tactic that makes you look more like the name you are actually calling
Deregulation left open the window for greed (which is inherently the corporate engine) to manipulate odds, numbers, risks, and reality to be honest.
Gramms push specifically and bills opened up a situation with deregulation in both the banking industry and energy speculation that has both times come back and had to be paid out of the a$$es of ordinary Americans…
at the cost of some very big salaries and parachutes to not just CEO’s but upper and middle management of these firms as they were collapsing or laying off thousands and walking away from pensions.
if you do not get that… that it is the wall street corporates and unchecked corporate greed (because again corporations are inherently wired to be that…which is good in a regulated system)
the problem is …you are about as smart as Mccain… (I’ll give you the credit that you are smarter than Palin but that’s questionable)
or shall I remind you again
1st trillion Mccain Keating and the deregulation lobby and the S&L crisis
2nd trillion gone…Mccain bush push for the Iraq War to protect us from “wmd”
gone
3rd trillion …Mccain Gramm, Davis, Black,,,and the rest of the deregulation lobbyists that make up his executive team… freakin AGAIN…
gone
each time he says “I have learned my mistakes and I will correct them…
but as we see 2 different trillion dollar losses about the same issues!
so yes it is about deregulation… what was that word you used to refer to people who tried to explain that to people like you… began with an “i”.

guys, i trully believe that we should demand that paulson has his head checked in a hurry! only a demented criminal could go to congress and say: give me $700 billion or else..they should put paulson and bush in a room and check them for dementia NOW!!

DL,
I am no fan of Gramm’s but he tried to pass legislation that would have prevented the subprime loan debacle and he was ridiculed for it by the Dems. Now you are trying to say it is his fault? The regulations that actually started the road to the current housing mess in the 70′s when legislations was enacted that required banks to make subprime loans to those who could not qualify for traditional loans. It was Democratic bill that was supposed to help the poor. Banks were then sued for “discrimination” if they refused to loan money to those who they knew could not pay it back. They soon learned they could not afford to defend the lawsuits and the subprime loan market was born…and looked what happened. I am a Democrat but you can’t blame this on the Republicans. We are just as much too blame, if not more.

Obama raised WHITE FLAG in North Dakota, his third one from the list of 18 battlefields in less than 2 months. SURELY OBAMA’S READINESS TO SURRENDER OUTPACED THE FRENCH VICHY GOVERNMENT’S. LOL……..http://news.yahoo.com/s/politico/20080922/pl_politico/21835;_ylt=AgT3oj1ywyHqGQohEpkJIW5h24cA

You mean golden parachutes like the $40 million one given to McCain surrogate Carly Fiorina from Hewlett-Packard? Irony doesn’t even begin to describe the McCain campaign. Fiorina, who was so good at her job that they paid her $40 million to “go away” is sent out as a spokesperson for McCain and she doesn’t feel that McCain or Palin are qualified to run a corporation (like HP). Sounds like HP didn’t think Fiorina was qualified either. But her assertion that either of those two baffoons couldn’t run HP but somehow are qualified to run the United States, is like saying your 4 year old can’t ride a bike, but he can drive the hell out of a mack truck. That the GOP has the gall to ask for 4 more years is insulting to the American people. Republicans pushed all this deregulation of the financial industry down our throats and now that the car is completely in the ditch they think we should pay THEIR tow truck to get it out. The nerve.

I’m against this bailout because something is now right about it. Why should be give Paulson free reign over that much money and he answers to no one. I’m telling you, if that happens, this country will see total meltdown, the likes of which we have never seen. If he were an honorable man, he would not mind some checks and balances, and that is what scares me. Just like the Iraq war. Don’t ruin America. Everyone get to your congress person and tell them not to pass this bailout, at least not in the present form.

big busines is working their magic and using both mccain and obama to get their bail out.the election can wait.call your congressman and ask them how they plan to vote on this clean bill, everyone has their hand out and we are just giving over our future. talk about dire.please again call your congressman

FARSE:
In response to this week’s economic crisis on CNBC, McCain pointed to his experience as “chair of the Commerce Committee which oversights every part of our economy.”
FACT:
Maybe he’s thinking about the Senate Banking Housing and Urban Affairs Committee — that’s what’s responsible for the financial institutions that went south this week. Commerce isn’t.
MY SOURCES:
US SENATE COMMITTEE ON COMMERCE, SCIENCE & TRANSPORTATION – LIST OF PAST CHAIRMEN http://commerce.senate.gov/public/index.cfm?FuseAction=About.PastChairmen
AND THEIR JURISDICTION: http://commerce.senate.gov/public/index.cfm?FuseAction=About.Jurisdiction
US SENATE BANKING COMMITTEE’S JURISDICTION: http://banking.senate.gov/public/index.cfm?FuseAction=Information.Jurisdiction
AND A LIST OF IT’S MEMBERS, NOTABLY JOHN MCCAIN’S NAME IS NOT INCLUDED: http://banking.senate.gov/public/index.cfm?FuseAction=Information.Membership
Does he think we are dumb? or is HE dumb?
Check this out. And here’s what the Banking Committee oversees

hmmmm…
MY POST:
FARSE:
In response to this week’s economic crisis on CNBC, McCain pointed to his experience as “chair of the Commerce Committee which oversights every part of our economy.”
FACT:
Maybe he’s thinking about the Senate Banking Housing and Urban Affairs Committee — that’s what’s responsible for the financial institutions that went south this week. Commerce isn’t.
MY SOURCES:
US SENATE COMMITTEE ON COMMERCE, SCIENCE & TRANSPORTATION – LIST OF PAST CHAIRMEN http://commerce.senate.gov/public/index.cfm?FuseAction=About.PastChairmen
AND THEIR JURISDICTION: http://commerce.senate.gov/public/index.cfm?FuseAction=About.Jurisdiction
US SENATE BANKING COMMITTEE’S JURISDICTION: http://banking.senate.gov/public/index.cfm?FuseAction=Information.Jurisdiction
AND A LIST OF IT’S MEMBERS, NOTABLY JOHN MCCAIN’S NAME IS NOT INCLUDED: http://banking.senate.gov/public/index.cfm?FuseAction=Information.Membership
Does he think we are dumb? or is HE dumb?
Check this out. And here’s what the Banking Committee oversees
Posted by: GIGI – on McCain’s self proclaimed experience | Sep 22, 2008 6:27:43 PM
AAAAAAAAAAAAND
YOUR POST:
dl is a queer left nut, his other nut is missing somewhere in San Francisco.
Posted by: Liberals are Idiots | Sep 22, 2008 5:09:48 PM

Kitty you must be blind and deaf….ablanche08 Obama laid out his plan last Wednesday where were you? A hero I remember prisoners of war from world war 2 they were the heroes hands cut off, tongues pulled out of their mouth , and eyes burned out of their sockets those were the heroes.

Is this the same John Mccain of the Keaton 5. Here we go again.Three times he voted against regulations that could have prevented this crisis.As recently as 48 hours ago he was still against regulations and then changed his mind.I always believed it was the fundamental responsibility of our law makers to do no harm. Mccain honors the veterans so much he wouldn’t vote for the GI Bill. Now that’s the kind a friend everyone wants.

LOOOOOOOOOOOOOOOOOL.

I question the timing for this economic crisis. What has escalated this issue causing such a downfall of Wall Street? Who planted the seed to cause these companies to scream for help or is this another politically innovative scheme to try to make the present administration look heroic after failing. I pray that all possibilities are sincerely considered and researched before we hand this over to a new administration with its hands and feet bound to all of these past failures. We want “Change” as identified early by the one candidate that recognized how much it is really needed – Senator Barack Obama. Lets not be blinded by this crisis.

Mr. McCain drove US over financial cliff, de-regulated country into oblivion. Now he wants to “reform” everything. What a faker, what a clown. You American morons will vote for him anyway, you are such losers, ha ha.
Posted by: euro.guy | Sep 22, 2008 12:35:57 PM
euro.guy:
Actualy, Bill Clinton did when he signed the bill that deregulated banks (Glass- Steagull act of 1933). Like most Denocraps you are long on Mouth and short on Facts!!
2003 President Bush wanted an accounting of the finance industry and the Demos stoped him,
2005 Senator Mccain said that there would be a meltdown if something was not done, McCain had it right!