Barney Frank: White House 'Photo Op' Designed to Help McCain

The debate commission has decided the debates will go on. But I urge everyone to call and voice your opinion. The American people deserve to hear what both candidates will do. The show must go on. Maybe McCain is just too old to be multitasking. I also heard that Pelosi and Boehner were issuing a statement yesterday that the proposal is about done. So why did McCain call Panic in the Public?

Jackson in NC

I am so sick of people like you who drag Senator Obama into every stupid situation McCain makes for himself. If this was so important to McCain why not do something sooner. Senator Obama has enough to think about when it comes to his own problems. Stop putting McCains problems on Senator Obamas back.

The bush adminstration in 4/2001 raised red flags, the 2002 budget requests declares Fannie Mae and Freddie Mac
"Potential problem.. and can cause strong repercussions in the financial markets"

In 2003 the White House upgraded the warning to a systemic risk that could spread beyond the housing sector.
John Snow Treasury Secretary called for Regulations & Supervision of GSE's.
Barney Frank (D-MA) denied there was any problem " Fannie Mac & Freddie Mare are not in Crisis"
Encouraging the government to do more to get low income families into homes, Ultimately blocking the regulation.

Allan Greenspan , 2/17/2005 spoke about the dangers of Fannie Mae & Freddie Mac "enabling these institutions to
increase in size -and they will once the crisis in their judgement passes-we are placing the total financial system of the future at a substantial risk

Charles Schumer (D-NY) 4/6/2005 ..."I think Fannie & Freddie have done an incredibly good job, and are an intristic part of making america the best housed people in the world....if you look over the last 20 or whatever yrs. Theyve done a very, very good job."

McCain (R-AZ) 5/25/2006 For years I have been concerned about the regulatory structure that governs Fannie Mae & Freddie Mac...
and there sheer magnitude of these companies and the role they play in the housing market...the GSE's need to be reformed without delay."
That bill ( FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT) made it out of the senate banking committee with a party line vote all the democrats voted against it.
Senator Obama did not weigh in on the bill

Change: The majority the Democrats have is the same that the Republicans have.

to:he majority the Democrats have is the same that the Republicans HAD.

Spock, you say "For all you nitwits out there the congress was not controlled by Republicans they had the majority, the democrats had enough members to block everything that would help..."

Then, "This lies solely on the Democrats, who are in Complete control now!!"

The majority the Democrats have is the same that the Republicans have. Do you see the inconsistency in your statement?

By the way, it was the Gramm-Leach-Bailey Act that created this mess in 1999. Democrats are partially responsible for this, but it was McCain's advisor Phil Gramm, rumored to be his Treasury Secretary if he wins, who created it.

the republicans on this blog have hit an all time low in trying to defend this sorry McBush/Quaylin 08 ticket....now their next lame excuse is that it was the Democratic dominated congress(2 yrs) to the Republican dominated congres (10 yrs)that deregulated everything and causes this mess....yes 10yrs remember the last 2yrs of Clinton....yeah Republican dominated congress...how come no one is calling out hannity on this fact?

Barney Frank is part of the reason we are in this financial mess. His leadership on that committee has been flawed from the get go. I'm from MA and Frank is my Rep., I take no pleasure in holding him accountable for this, but he does need to share in the blame for failing to see this mess coming. Shame on you Barney Frank!

Hey Marcus. NYT good enough source for you?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Funny, McCain never did anything to stop or prevent this as Chair of the Republican Senate Caucus for the Financial Services Committee!

Palin-McCain campaign would be funny it wasn't so scary!

Commrat72

For Senator Obama not to have done anything, as you put it, he sure is upstaging your boy McCain.

This whole thing is about John McCain's campaign and it shows THEY WILL STOP AT NOTHING TO WIN - including coming up with excuses not to dbate - Hell, what next cancel the election?

To all you Republicans dobnt feel completely ashamed of yourselves?

Spock. you got any links to back up you claim that Democrats blocked Bush on regulations in 2003?

It is unbelievable that McCain is stopping everything to go to Washington to “Save the Day”. . Kind of reminds me of a John Wayne Movie. John McCain is playing politics with a financial disaster that has his fingerprints all over it. Its obvious his presence is not needed or even wanted, yet there he goes again!
A columnist in Arizona once wrote that John McCain is the kind of guy who sees a parade , jumps in front of it, and proudly declares he is the leader.
There he goes again!

Barney Frank should be under indictment!!

For all you nitwits out there the congress was not controlled by Republicans they had the majority, the democrats had enough members to block everything that would help, they blocked regulations that Pres. Bush put forward in 2003, and they Blocked investigations into Fannie may and Mac that McCain tried to get.
This lies solely on the Democrats, who are in Complete control now!!

By the way Obama was asked to come to the Whitehouse also, so it is not a photo op for McCain

My favor part of this argument is that McCain is going back to Washington to do his job, does this mean he hasn't been doing his job before? According to the Washington Post who has been keeping track of voting records of Senators, John McCain has missed 64.1% of his votes, that is called not doing your job. If I missed work almost 2/3 of the time I would be fired. Why is no one questioning McCain on his job performance, or the fact that he is not even on the committee that is arguing this bill. But wait hes a maverick, so much of a maverick that he can show up to work.

What desperation. What bungling. Fascism in it's last throws can get ugly.

Is there any way we can help speed things up?

What the hell??? McCain stated in a radio interview that he had not read the bail-out proposal...

How could you not have read the proposal that has America's economic future in it? This man is CRAZY!!!

Now that its been found out that McCains campaign mgr. has been recieving funds from fannie mae...to the tune of $15000 per month for nothing...Sarah Palin flailing around selected foreign heads of state etc,
without the press being allowed to talk to her... the possibility of Keating 5 being brought up which it NEEDS to be, Sarah Palin being prayed over or being spoken in tongues over whatever....to keep her safe from eeekkk the devil, and witchcraft (is this Salem in the 17th century?) please this man is a nutcase.