While your knashing your teeth at this ridiculous bill take a look at this too!

Democrats Defend Fannie/Freddie from Regulation - 2004 Video

http://www.youtube.com/watch?v=YL36nwCSYUM

And for all his faults, Bush tried to tell Congress about this in April 2001 and Fall 2003. Greenspan tried in April 2005. MCCAIN tried to pass a bill to regulate them in 2006 (to be fair, Obama abstained his vote) but it failed to pass!!

McCain's Early Recognition of Fannie/Freddie Crisis

http://www.youtube.com/watch?v=63siCHvuGFg

Makes you want to hurl, doesn't it?

(S. Amdt. 5685 to H.R. 1424):

Akaka (D-HI), Yea

Alexander (R-TN), Yea

Allard (R-CO), Nay

Barrasso (R-WY), Nay

Baucus (D-MT), Yea

Bayh (D-IN), Yea

Bennett (R-UT), Yea

Biden (D-DE), Yea

Bingaman (D-NM), Yea

Bond (R-MO), Yea

Boxer (D-CA), Yea

Brown (D-OH), Yea

Brownback (R-KS), Nay

Bunning (R-KY), Nay

Burr (R-NC), Yea

Byrd (D-WV), Yea

Cantwell (D-WA), Nay

Cardin (D-MD), Yea

Carper (D-DE), Yea

Casey (D-PA), Yea

Chambliss (R-GA), Yea

Clinton (D-NY), Yea

Coburn (R-OK), Yea

Cochran (R-MS), Nay

Coleman (R-MN), Yea

Collins (R-ME), Yea

Conrad (D-ND), Yea

Corker (R-TN), Yea

Cornyn (R-TX), Yea

Craig (R-ID), Yea

Crapo (R-ID), Nay

DeMint (R-SC), Nay

Dodd (D-CT), Yea

Dole (R-NC), Nay

Domenici (R-NM), Yea

Dorgan (D-ND), Nay

Durbin (D-IL), Yea

Ensign (R-NV), Yea

Enzi (R-WY), Nay

Feingold (D-WI), Nay

Feinstein (D-CA), Yea

Graham (R-SC), Yea

Grassley (R-IA), Yea

Gregg (R-NH), Yea

Hagel (R-NE), Yea

Harkin (D-IA), Yea

Hatch (R-UT), Yea

Hutchison (R-TX), Yea

Inhofe (R-OK), Nay

Inouye (D-HI), Yea

Isakson (R-GA), Yea

Johnson (D-SD), Nay

Kennedy (D-MA), Not Voting

Kerry (D-MA), Yea

Klobuchar (D-MN), Yea

Kohl (D-WI), Yea

Kyl (R-AZ), Yea

Landrieu (D-LA), Nay

Lautenberg (D-NJ), Yea

Leahy (D-VT), Yea

Levin (D-MI), Yea

Lieberman (ID-CT), Yea

Lincoln (D-AR), Yea

Lugar (R-IN), Yea

Martinez (R-FL), Yea

McCain (R-AZ), Yea

McCaskill (D-MO), Yea

McConnell (R-KY), Yea

Menendez (D-NJ), Yea

Mikulski (D-MD), Yea

Murkowski (R-AK), Yea

Murray (D-WA), Yea

Nelson (D-FL), Nay

Nelson (D-NE), Yea

Obama (D-IL), Yea

Pryor (D-AR), Yea

Reed (D-RI), Yea

Reid (D-NV), Yea

Roberts (R-KS), Nay

Rockefeller (D-WV), Yea

Salazar (D-CO), Yea

Sanders (I-VT), Nay

Schumer (D-NY), Yea

Sessions (R-AL), Nay

Shelby (R-AL), Nay

Smith (R-OR), Yea

Snowe (R-ME), Yea

Specter (R-PA), Yea

Stabenow (D-MI), Nay

Stevens (R-AK), Yea

Sununu (R-NH), Yea

Tester (D-MT), Nay

Thune (R-SD), Yea

Vitter (R-LA), Nay

Voinovich (R-OH), Yea

Warner (R-VA), Yea

Webb (D-VA), Yea

Whitehouse (D-RI), Yea

Wicker (R-MS), Nay

Wyden (D-OR), Nay

Joe could put his foot in his mouth and blow the whole deal...or Sarah could have a good night.

One thing I've learn is a certainty in politics is the uncertainty!

And BOTH Obama and McCain voted for it as well as Biden!

DISGUSTING!!!

The only one I CAN give any credit to is McCain for trying to fix the regulations in 2006. Other than that, they ALL disgust me right now!!!

@ Truthfully

"The next theme song to be played when Obama speaks."

I heard this idea a while ago. Wish it was funnier than it is though.

@ Truthfully,

"Would now not be the appropriate time for Senator Obama to have included some simple verbage to better explain what is in the "bill" that he wants passed?"

Well yes, but that would require him to commit himself and I haven't seen much of that from him actually.

@ Klytus,

Or the mouse that roared.

"It isn't the duty of the two candidates for President to take the lead on the Congressional Bailout. It's the President's. George W needs to address the American people and explain in detail what the problem on Wall Street means to Main Street. "

Ironic you should say this since he tried to do it in 2001 and in 2003.

http://www.youtube.com/watch?v=63siCHvuGFg

Oh well, maybe people will listen to him now.

"Prattle on...So vigorously So youthfully....

And so TRUTHFULLY as well. The truth needs to be told until it is recognized...even if it's something people wish to dismiss.

"I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts." Abraham Lincoln

"Perhaps certain politicians from both parties have allowed what's happened and happening because there is some ultimate benefit for America?"

The only real benefit I can see that COULD come from this would be if the market were allowed to go it's own way, credit tightened up and everyone was weaned off of credit. That's about the only good thing I could see coming from this.

But the fact the problem was shoved in their faces since 2001 but because it came from the wrong side or whatever, they chose to ignore it or worse encourage it, leads me to believe that they do not have the best interests of their country at heart up on Capitol Hill!

That's MY take anyway!

verycold,

Frankly I am angry at those who had the situation shown to them and were WARNED this would happen and STILL refused to acknowledge there was a problem.

They even ridiculed those who did the warning and NOW are trying to blame those who were doing the warning!

That, to me, is not only gross negligence but also covering up their own incompetence! Those who voted against the regulation bill in 2006 to fix this problem should be voted out of office!

sonofloud,

Sorry, I should have said no one commented on it but you and Truthfully!

sonofloud,

Yep, I've been putting that out for a while and no one has commented on it.

Amazingly, this problem came up in April 2001 from President Bush and again in Fall of 2003 and then again in 2005 from Greenspan, and finally legislation proposed by John McCain to fix this problem in 2006 was defeated.

I'd call this gross negligence from Congress for allowing this to happen myself!