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Obama Hammers McCain on Deregulation & Lobbying Claims
September 20, 2008 3:00 PM
ABC'S David Kerley, Andy Fies, and Sunlen Miller Report: In Daytona, Florida, Barack Obama made it clear he believes he has a winning argument on the economy and continued to hammer John McCain's positions.
At the end of a week of Wall Street bailouts and government negotiations to take over hundreds of billions in bad loans, Obama contends McCain is a newcomer to government regulation of Wall Street.
Speaking before a crowd of 2,500 at an event focused on women’s issues – Obama called McCain out for once suggesting deregulation of the health care industry like the banking industry.
Obama used McCain’s words – and the financial crisis against him – reading a quote from McCain which was published in "Contingencies" magazine last year.
"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation, McCain said in the magazine in their September/.October 2007 issue.
Today, Obama read back the quote to the crowd and in astonishment said, “So let me get this straight – he wants to run health care like they’ve been running Wall Street. Well, Senator, I know some folks on Main Street who aren’t going to think that’s such a good idea.”
Obama also brought up the back and forth that’s been going on for some time over lobbying –and which presidential candidate would truly stand up to the special interests, mocking McCain for suggesting that lobbyists “wont even get past the front gate” in a McCain White house.
“My question is – who is going to stop them? Those seven lobbyists that are running his campaign? His campaign manager? His campaign chairman? The economic advisor, who got a $40 million golden parachute when she was fired as a CEO? Or maybe the 26 advisors and fundraisers who lobbied for Fannie Mae and Freddie Mac? I mean, give me a break.”
Senator Obama disputed his association with former Fannie Mae CEO Franklin Raines which the McCain campaign tried to connect him with this week –laughing that it took a letter and an Obama campaign statement from Raines to clear up the misconception of their connection.
“My opponent attacked me for being associated with a Fannie Mae guy who I met once and talked to for maybe 5 minutes – he did a TV ad saying this guy was my advisor. The guy actually had to send out a letter saying, ‘uh, that’s not true. I actually don’t really talk to the guy’.”
Senator Obama told voters in Florida- and specifically women voters - that they can make the difference in this election. Obama told the crowd – many older African Americans - that John McCain is not committed to preserving social security benefits for seniors.
“I know Senator McCain is talking about a “casino culture” on Wall Street – but the fact is, he’s the one who wants to gamble with your life savings,” Obama warned the crowd,
McCain’s campaign was quick to issue a response, calling Obama's statement a scare tactic, “John McCain is one-hundred percent committed to preserving social security benefits for seniors, and Barack Obama knows it – this is a desperate attempt to gain political advantage using scare tactics and deceit. Barack Obama has supported alternative private accounts himself which makes these reckless attacks a perfect demonstration of his willingness to ignore facts in favor of his own self-promotion,” McCain spokesman Tucker Bounds said in a statement.
Both campaigns have accused the other of "saying anything and do anything" to win this election.
September 20, 2008 | Permalink | User Comments (691)
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McCain = DISHONORABLE; Palin = SCARY!!!
Posted by: Howard Gallas | Sep 20, 2008 3:21:08 PM
The Republican, and John McCain's formula in particular, for health care should frighten everyone. What they are proposing will eventually lead to doctors not taking health insurance at all...
Posted by: doc | Sep 20, 2008 3:24:19 PM
Right. dead. on.
Of course MCCain is going to throw every rock out now. He has been the deregulator, and this is what happens when you take the brakes off the car. Are we supposed to suddenly believe that McCain was so naive that he was not aware that corporations are just a little bit greedy? Tht he'd learned nothing from the keating scandal?
Posted by: Sebbydad | Sep 20, 2008 3:25:06 PM
McCain is the reason why Jack Abramoff is in jail.
Obama hired Jim Johnson the CEO of Fannie Mae. Jim Johnson took in 25 million dollars and did abusive practices that hurt shareholders.
Obama two months ago was so clueless as to hire the CEO of Fannie Mae Jim Johnson who created this mess partly to head his VP search.
McCain two years ago was calling out fannie mae while Obama two months ago was hiring the CEO.
Obama bought land from Rezko while rezko was under federal investigation for influence peddling by u.s attorney patrick fitzgerald.
Posted by: Sean | Sep 20, 2008 3:28:35 PM
The closer it gets to election day the more desperate Obama becomes. Distortions and outright lies must be the name of the game. Is this the kind of "in your face" talk that he has asked his supporters to do? Scaring voters about social security, and lying about his relationship with Fannie Mae and Franklin Raines will not fly. Give us a little more of "in your face" tactics. The real Obama is emerging for all to see.
Posted by: georgia | Sep 20, 2008 3:33:19 PM
MaCain more of the same LIES!
Posted by: Lie_Detector | Sep 20, 2008 3:33:32 PM
Nov. 4th - McCain/Palin "Thanks, But No Thanks"
Posted by: Linda | Sep 20, 2008 3:36:13 PM
Wake up America should be a new song. Nothing like blaming the new kid on the block. I have a mortgage with fannie mae now what happens ???? Maybe these government reverse mortgages isn't a good idea.
Posted by: Rose Szymanski | Sep 20, 2008 3:36:25 PM
McCain tried to stop the fannie and freddie crap over two years ago and Obama and the democratic party said he was targeting low income families . BTW not only did he buy land from Rezko while he was under investigation he bought at less than fair market value HMMMMM????
Posted by: reddog0216 | Sep 20, 2008 3:39:13 PM
Thanks but no Thanks to palin/mccain
Posted by: angie | Sep 20, 2008 3:41:16 PM
Come on Rose why does goverment have to protect us from ourselves we want we want now we suffer
Posted by: reddog0216 | Sep 20, 2008 3:41:29 PM
doc, my son's pediatrician stopped taking any new insured people. he got so tired of dealing with it that he stopped. my costs haven't gone up, and i'm tempted to believe his stopping taking insurance might have contained costs. i don't know what the solution is, but government is not the answer.
Posted by: Kitty | Sep 20, 2008 3:43:48 PM
Sean, so that's what you have on Obama?
I that that probably make him the cleanest person in Washington.
Posted by: Jesse | Sep 20, 2008 3:46:03 PM
democrats in congress are to blame for the housing crisis, plain and simple. they forced financial institutions into "spreading the american dream" of home ownership to those who simply couldnt afford it. a typical democratic, idealistic notion. that people some how, would be able to afford these homes. watch glenn beck this upcomming week to hear the names of the ones who started all this mess, dating all the way back to 1992 under the clinton administration.
Posted by: tim | Sep 20, 2008 3:46:05 PM
mccain/palin on nov. 4th. say no to socialism....
Posted by: tim | Sep 20, 2008 3:47:49 PM
For all you Obama supporters please go to the libary of congress and look at the bills he has proposed and where they have gone It is very ead to look up right online than tell me is he a talker or a doer there is nothing of any substance
Posted by: reddog0216 | Sep 20, 2008 3:48:41 PM
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.
Posted by: COL. A.M.Khajawall [Ret] | Sep 20, 2008 3:49:42 PM
Grumpy Old Man and the Pagent Princess
A new comedy from GOP productions
"So funny, it's almost real!"
Gene Siskel
Posted by: Funny Stuff | Sep 20, 2008 3:49:45 PM
If you voted for Bush, how do you know what either candidate will do? I didn't vote for Bush because I thought he was a lame brain panderer. Turns out I was right. Take it from someone who was right on Bush, McCain is more of the same. McCain, last time I checked was still a Republican right?
=================================
Bushinheels/Mealsonwheels '08, change you can deceive in and more of the same.
Posted by: Clowned by the GOP | Sep 20, 2008 3:50:20 PM
Back on May 25, 2006 John McCain spoke “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………Barack Obama and other Democrats OPPOSED and did nothing. http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/
Posted by: Ann | Sep 20, 2008 3:50:34 PM
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