Here's the money quote from Davis:

“You can say what you want about free-market distortions, but people like the system because it gets them into houses cheap,” Mr. Davis said to Institutional Investor magazine in 2000, adding that he would run the advocacy group out of his Alexandria, Va., lobbying firm.

Un. Real.

Pufferfish

This story is becoming pornographic as we find out the extent of the orgy these guys had in bed with each other!

As long as the issue is the economy, Obama beats McCain handily.

I don't see how McCain can even rebut any argument by the Obama campaign. They're left speechless.

http://thepajamapundit.com/

John McCain: Truly Born, Formed and Waiting Around to Die from Corruption

As I understand this bailout, it just attempts to put the investment banks back in the same position they were in before the bottom fell out.

In other words - we're going to pay to make them whole, no matter what it does to us, the people? We lose no matter what?

That's how I see this - we lose the money invested that was lost as well as the bailout money to make the investment companies whole so we pay twice? What we lost and what we give them?

This is insane.

McCain's statement from May 2006

http://www.govtrack.us/co...0525-16&bill=s109-190

Congressional Record May 25, 2006

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.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
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.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. 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.

I urge my colleagues to support swift action on this GSE reform legislation.

Ram Rick Davis down McShame's throat.

And while we're at it, ram Phil Gramm and bailing out UBS down McShame's throat, too.

Dear concerned citizens of America and Mass Media of the U.S.A.

As a concerned registered independent voter, forensic psychiatrist, disabled American I made my decision to vote after taking into consideration following joint tickets attributes and characteristics.

1. Has the ticket shown adequate calmness, coolness, and connectedness's under pressure to lead our nation [Presidential Temperament]?

2. Has the ticket shown sustained sound "Judgment and Caliber"?

3. Has the ticket shown adequate understanding of depth and degree to address the crucial challenges in their their purpose, policies, and positions [ Honesty, integrity and sincerity]?

4. Has the ticket sufficient "understanding and knowledge" of inside Washington workings [Experience]"?

5. Has the ticket reservoir resilience, wisdom, and vigor to address the present and future f our beloved "Great-grand Nation"?

6. Has the ticket enough joint foreign policy experience and exposure based on " Values, Virtues, Vastness, and " [American moral soul]"?

7. Has their campaign talk, slogans, ads, plans, and programs based on facts and are they free of fear, fiction, frivolous labels, unfair attacks, negativity, and impulsively? [No "imminent danger to national
security and safety"].

8. Has the ticket genuinely kept on message of country first and politics last and avoided copying [Message change"]?

9.Has the ticket message stayed away from Culture divide and war[ Disaster prevention ]?

10. Has the ticket resisted being surrounded, supported and surrogate's by divisiveness, distortion's, and destructive characters, [ Real patriotism VS shiftiness and shameless parrot-ism]?

11. Has the ticket thoughtful, real non-partisan, & non-impulsive plans to address our current economic crisis or political tactics and temperamental statements.

I have personally and professionally concluded that OBAMA-BIDEN ticket will lift and inspire our greatgrand nation back to its greatness within and restore our global standing with the use of maximum, firm
international diplomacy and minimal force if and when indicated {" Peace thru Strenght "}.

Yours sincerely,

COL. A.M.Khajawall [Ret] MD.
Forensic psychiatrist, Disabled American Veteran and Iraq
Freedom team. Grass roots California leader per Senator McCain's mailings.

PS: Protect U.S.A from McCain-palin's reactive and knee-jerk reactions.

Hell, this is just Enron on an international scale!

I want to find out who exactly lobbied the SEC to remove the uptick rule last year from short selling. This caused some of this volatile activity seen on Wall Street recently.

Gee, McCain exposed as a running dog imperalist, capitalist warmonger paper tiger is really fun to watch. Whudda thunk?

Makes you wonder about Clinton, doesn't it?
AND, Hillary would have to be backpedalling trying to distance herself from Bill on this if she were the nominee...

Well, the good I see coming out of this is that "regulation" won't be a four-letter word anymore.

Keating 5 ads, run 'em!