Tuesday, September 23, 2008

McCain would fire guy he hired and hire guys that should be fired

As we all know, when our "fundamentally strong" economy necessitated discussion of a $700B bail-out, John McCain announced he would fire SEC Chairman Chris Cox for being at fault for the mess. Despite the fact the President is not empowered to fire the Chair of the SEC (unless the Shrub enacted secret law saying he can fire whomever he pleases), McCain conveniently forgot two other things: #1 - McCain helped hire Cox and, #2 - at least part of the reason McCain Liked Cox for the position, was because Cox wrote the the Private Securities Litigation Reform Act which was a key component to the Republican financial plan based on the deregulation that McCain is suddenly against.

The problems with current mortgage crisis, according to John "Why doesn't Jimmy Choo make Flip-Flops" McCain & his running mate Sarah "The Reformer" Palin is due to "long-term mismanagement and flawed structure" of Fannie Mae and Freddie Mac. As a matter of fact, the Republican ticket vowed to restructure the failed organizations in a WSJ editorial:

Fixing Fannie and Freddie, and reforming our mortgage and financial markets, is critical to getting the housing market and the entire economy moving again. A great deal of the savings and wealth of American families is wrapped up in the value of their homes. A house has traditionally been the wealth-building course to retirement. The housing industry employs millions of Americans. One of us, John McCain, said over two years ago, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose."

Fannie and Freddie's lobbyists succeeded and Congress failed. Under our administration this will not happen again

Apparently, the start of that restructuring has begun already - and it's started with the McCain-Palin Campaign who have hired Fannie/Freddie lobyists to play critical parts in their campaign and the transition team for their planned administration.

Ah, that odor wafting from "The Reformer's" headquarters must be the sweet smell of change fermented bullshit.


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1 comment:

Anonymous said...

In the mean time, McCain is claiming Obama is showing "no leadership" on the economic crisis. It's not true but you have to admit that Obama's supposed lack of leadership is a far cry better than McCain's bad leadership. No?