MCCAIN SHOULD OF STAYED OUT OF IT HE PROJECTED POLITICAL CAMPAIGNING INTO IT MCCAIN DID NO GOOD!

McWar/Falin - the rotting smell of death.

If it wasn't for McCain the mess would of passed with the billions for ACORN. Where is Mr. Hope and Change? Can't the false Messiah ever do anything but talk?

He should stay out of his job is that it angie he should be like OBAMA do nothing.I can see your point Thank you I didnt think I could get my head that far up my A$$ but I guess I can

mccain the white knight fails

thanks for the political stunt you great leader!!!!

fire this guy, and fire the house republicans

let hte dems write their own bill that will protect the voters of america instead of trying to figure out a way to bring the house rethuglicans on board

This is an excellent post , I'm grateful to you , thanks a lot .

McWar/Falin - the rotting smell of death.

Posted by: clifton | Sep 30, 2008 8:59:36 AM
TYPICAL OBAMA NATION TATIC WE HAVE ONLY LIES TO SPEW SO NAME CALL INSTEAD OF FACTS

This is an excellent post , I'm grateful to you , thanks a lot .

Everyone knows McCain wanted credit for the bill to prove that he is a Maverick, a reformer, now that the bill has failed he wants to blame Obama and the Democratic party, it was Bush/McCain and the republicans who failed.

reddog
What is it he did nothing the republicans bailed out Im still trying to figure out who is the leader of the republican party bush has no credibility seems mccain dont either just tell me what he did in washington besides having dinner with liberman and as far as calling it in was he not on the phone all weekend calling it in?

Typical McCain tactic. First he takes credit for the plan, then when it fails he blames Obama! What a shyster.

McCain...McBush....there is really no difference. Both try to take credit for other peoples work and both get caught with their pants down.

BTW McCain, where is your flag pin. You and your party made such a big stink about Obama not wearing one at one time, calling him unpatriotic, now you're never seen wearing one. Does that make you unpatriotic?

It's a Republican President; it's the Republican House members who didn't vote in enough numbers to get this done.

Personally, I think this whole mess stinks but the "bailout" has morphed and is less so in the proposed plan. Unfortunately, it needs to happen because we are no longer in a bailout situation - it is a rescue matter now...

mccain the white knight fails

thanks for the political stunt you great leader!!!!

fire this guy, and fire the house republicans

let hte dems write their own bill that will protect the voters of america instead of trying to figure out a way to bring the house rethuglicans on board

Posted by: Bhrandon | Sep 30, 2008 9:05:20 AM
THE HOUSE DEMOCRATS CANT GET THERE OWN PEOPLE ON BOARD THEY DONT NEED REPUBLICANS THEY 96 OF THEM VOTED NO

I just checked the poll summary on realclearpolitics.com Of eight major polls, only one had McCain ahead of Obama. The end is near, and McCant and Falin' are going down.

Influential conservatives across the country are calling for Palin to be canned from the ticket. Desperation!

REDDOG
You need to get your head out of your a$$ wake up and see THE REAL JOHN MCCAIN A LIAR AND A PANDER he will say and do anything to win this election even if it means lying to the american people john mccain country first my A$$ hes crumbling look at his campaign a joke look at his vp a joke now he has to resort to lies and attacks on obama he has nothing else the clock is ticking and each tick MCCAIN IS GOING DOWN!

reddog
What is it he did nothing the republicans bailed out Im still trying to figure out who is the leader of the republican party bush has no credibility seems mccain dont either just tell me what he did in washington besides having dinner with liberman and as far as calling it in was he not on the phone all weekend calling it in?

Posted by: angie | Sep 30, 2008 9:07:44
He made sure the republicans were involved in the process .They were not even involved in the deal.Do you know what ACORN is 20% of our money if recovered was to go to them.How about any money recovered goes back to us TAXPAYERS

When you are in great need, would you prefer a person who tries to help you but fails in his attempt, or one that does not bother to do anything at all?

The democrats are right to make the republicans step up to the bill so if the bill fails the dems dont get all the blame besides it was there president that has made this mess why should the responsibilty be all on the dems?

It because of people like you: angie that this mess will worsen by voting PRESENT not getting the details of what and who caused these problems you say fox news is biased they show facts unlike speculations

War on two fronts, Americans still die, Bin Laden still at large, hundreds of millions in debt as a nation, economy on the brink of collapse, gas at $4/gallon, Iran and Korea looming, possible cold war with Russia. Yeah, things are going great. Bush and McCain, bosom buddies, sure have done a great job.

"..Thank you I didnt think I could get my head that far up my A$$ but I guess I can.."

Congratulations Red0216! You are hereby confirmed as a qualified McCain/Palin voter!

springdale - What? like the hunt for bin Laden? Iraq? The current economic crisis? Been there/done that.

8 is enough.

Obama/Biden

Fact for you reddog: McCain has missed more votes (over 400) in the last year in the Senate than any other Senator.

The democrats are right to make the republicans step up to the bill so if the bill fails the dems dont get all the blame besides it was there president that has made this mess why should the responsibilty be all on the dems?

Posted by: angie | Sep 30, 2008 9:15:25 AM

If you mean there president you mean BILL CLINTON YOU ARE RIGHT here angie let me educate you read this please

[edit] Clinton Administration Changes of 1995
In early 1993 President Bill Clinton ordered new regulations for the CRA which would increase access to mortgage credit for inner city and distressed rural communities.[7] The new rules went into effect on January 31, 1995 and featured: requiring strictly numerical assessments to get a satisfactory CRA rating; using federal home-loan data broken down by neighborhood, income group, and race; encouraging community groups to complain when banks were not loaning enough to specified neighborhood, income group, and race; allowing community groups that marketed loans to targeted groups to collect a fee from the banks.[4][6]

The new rules, during a time when many banks were merging and needed to pass the CRA review process to do so, substantially increased the number and aggregate amount of loans to low- and moderate-income borrowers for home loans, some of which were "risky mortgages."[citation needed] Banks set up CRA departments, a CRA consultant industry was created and new financial-services firms helped banks invest in packaged portfolios of CRA loans to ensure compliance.[citation needed] Established and new community groups began marketing such mortgages. The Senate Banking Committee estimated that as of 2000, as a result of CRA, such groups had received $9.5 billion in services and salaries. As of that time such groups also had received tens of billions of dollars in multi-year commitments from banks, including ACORN Housing $760 million; Boston-based Neighborhood Assistance Corporation of America $3 billion; a New Jersey Citizen Action-led coalition $13 billion; the Massachusetts Affordable Housing Alliance $220 million.[4] The number of CRA mortgage loans increased by 39 percent between 1993 and 1998, while other loans increased by only 17 percent.[8]

Angie; Learn how to use punctuation, and maybe you won't look like an idiot.

FOX NEWS is lying and twisting to save mccains a$$ they know mccain has made a complete mess of himself so they will lie and twist just like mccain to pull him out but you no what reddog PEOPLE HAVE WOKE UP FROM THE BUSH NIGHTMARE people are not buying the republican LIES SMEARS AND FEARS ANYMORE maybe in 2004 but this is 2008 and after the long painful years with bush THE PARTY IS OVER FOR THE REPUBLICANS! DEAL WITH IT!

Fact for you reddog: McCain has missed more votes (over 400) in the last year in the Senate than any other Senator.

Posted by: William J. LePetomaine | Sep 30, 2008 9:18:39 AM
whats you point?

Fact: McCain was censured for "poor judgment" regarding the affair with his great good friend, convicted felon Charles Keating.

Fact: 19 of McCain's campaign staffers or advisors lobbied on behalf of Freddie/Fannie

KEATING FIVE does anyone remember keating five?

Hey, did you hear the latest? Bill Clinton was behind the JFK assassination. LOL

president Clinton 79 billon dollar surplus leaving office
President Bush trillon dollar debt leaving office

William J. LePetomaine
You all say that he and bush are deregulators but when shown proof, facts you all like to not discuus them why is it the kool aid ore something I am open minded enough to listen but when I present my side you all seem to change the subject with something else

Heavens to Betsy, McCain is sounding more like Cheney every day. Soon, very soon, he wil be echoing sounds of the old Roto Rooter.

Yes I know about keating 5 where it was said McCain used poor Judgment thats it from a DEMOCRATIC REVIEW BOARD WOW HE IS NOT PERFECT LIKE OBAMA??

OK redddog. Let's assume for a moment that Bill is responsible. The Bush administration had eight years to rectify if that is the case. Where have they been until now? I'll tell you where: championing additional deregulation with McCain and Gramm leading the charge.

RICK DAVIS Mccain campaign Manager $15,000 a month from fannie and freddie. but you wont hear that on fox news no way just like keating five fox news wouldnt dare educate the public about that!

resorting to sarcasm there, huh reddog? LOL

Once again, Obama calls for action (increasing FDIC limits to 250,000) and McShame says, Me too! Me Too!

OBAMA/BIDEN 08

VETS AGAINST MCCAIN!

BLUE STAR FAMILIES FOR OBAMA!

OK redddog. Let's assume for a moment that Bill is responsible. The Bush administration had eight years to rectify if that is the case. Where have they been until now? I'll tell you where: championing additional deregulation with McCain and Gramm leading the charge.

Posted by: William J. LePetomaine | Sep 30, 2008 9:27:04 AM
GW Bush Administration Changes of 2005
In 2002 there was an inter-agency review of the effectiveness of the 1995 regulatory changes to the Community Reinvestment Act and new proposals were considered.[6]

The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency put new regulations into effect September of 2005. [10] The regulations were opposed by a contingent of Democrats[11]

The regulations included less restrictive new definitions of "small" and "intermediate small" banks.[3] "Intermediate small banks" were defined as banks with assets of less than $1 billion, but allows banks to opt for examination as a large bank.[10] Currently banks with assets greater than $1.061 billion have their CRA performance evaluated according to lending, investment and service tests. The agencies use the Consumer Price Index to adjust the asset size thresholds for small and large institutions annually.[6]
HERE IS WHERE THEY WERE BEING BLOCKED BY WHO?

Defying your president by not voting for the "rescue" plan that has measurable and immediate benefits for all Americans, yet blindly supporting him in the $500 billion (and counting) endless war in Iraq, for exactly ZERO return on investment or measurable benefit!!

There's your recipe for disaster. This is an outrage and an insult to all citizens! Where is the logic??

The question is, where did McCain stand on the issue? HE is the one running.

Most offensive of all: McCain postures himself as a "professional Vet and POW" and yet his voting record on troop support and veterans issues is shameful. He voted four times against increasing veterans health care. He voted against mandatory rest periods for troops between deployments. He voted against providing safety equipment like flak jackets for Reservists. He spoke against the new GI Bill and then did not bother to show up (one of over 400 votes he missed last year) to vote on it. Yet he misses no opportunity to exploit his POW status. He should be ashamed. This is one vet (1970-72) who is not buying his brand of BS

The Disabled American Veterans (DAV) gave McCain a 20% rating on veterans issues; they gave Obama 80%. The Iraq and Afghanistan Veterans of America (IAVA) gave McCain a letter grade of D; they gave Obama a B.

The question is, where did McCain stand on the issue? HE is the one running.

Posted by: William J. LePetomaine | Sep 30, 2008 9:32:27 AM
He is the one on the floor trying to get it passed to REGULATE it twice he tried and eas blocked by the democrats Barney Frank nancy pelosi both said they are fine and the republicans are only trying to hurt the low and middle income americans This is a fact The videos are out there.

McCain is running out of tricks to convince voters he can be trusted on the economy. What else can he do to "save the economy"?

http://www.political-buzz.com/

Quote from Veterans for Common Sense: "John McCain is yet another republican former military veteran who likes to talk a big game when it comes to having the support of the military. Yet, time and time again, he goes out of his way to vote against the needs of those who are serving in our military...
how can he be a credible commander in chief?

They will not allow me to post the video here it but a quick search and you can find it Barney frank opposing CRA in google and it comes up quickly

As a veteran, McCain is a sham and a hypocrite.

WHAT exactly does a "community organizer" do? Barack Obama's rise has left many Americans asking themselves that question. Here's a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit.

In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes - and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers.

In other words, community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it.

In 2007, McCain missed 10 of 14 votes on Iraq issues.

William J. LePetomaine | Sep 30, 2008 9:48:12 why are you switching subjects?? Lets deal with one at a time

I am more then willing to debate the DAV and The veterans

good luck with that, reddog.

I guess it is typical when you present the facts switch subjects so I wont agree I get it

I can assure you HP, that Mr. Marks has never met Barack Obama, nor would Mr.Obama give him the time of day!

OK, Reddog: John McCain said "I am a proud Republican conservative with a 17 year record for less regulation"

Greenville (SC) News, 1/10/00

"I have a long voting record in support of deregulation"

McCain, St.Petersburg Times, 6/5/03

"I am a de-regulator. I believe in deregulation"

McCain, CNN, 7/13/03

Yes he did on things that need less he is right.Our goverment was not designed to regulate.He belives in proper regulation not more where you stiffle growth

"I am always for less regulation"

McCain, Wall St. Journal, 3/3/08

Free market needs transparency.
...............................
What Bush has done is to control everything.
..................................
That is what DNC and Obama are trying to follow with media's help.
..................................
Don't you just hear only one voice today from media?
..................................
Don't you hear enough the greatness and the chosen one?
...................................
Stop dancing with star and start working for youself.
...................................
It is time for moderate right and moderate left to stand up, work together, and lead this country to bright future.
...................................
No dictator and no extremist.

It's quite a fairy tale that the Republicans would have us all believe, in their desperate quest for a scapegoat.

The poor banks were pushed into making tens of millions of dollars on subprime loans...and the poor brokers on wall street, that was all they had to trade. So they had to just make the best of it and build fortunes on mortgage-backed securities even though they warned everybody that this was a house of cards...

What a load of hooey!

THE seeds of today's financial meltdown lie in the Commu nity Reinvestment Act - a law passed in 1977 and made riskier by unwise amendments and regulatory rulings in later decades.

CRA was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in "subprime" loans to often uncreditworthy poor and minority customers.

Any bank that wants to expand or merge with another has to show it has complied with CRA - and approval can be held up by complaints filed by groups like ACORN.

In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America's financial institutions.

Banks already overexposed by these shaky loans were pushed still further in the wrong direction when government-sponsored Fannie Mae and Freddie Mac began buying up their bad loans and offering them for sale on world markets.

McCain's problem at this point may be that his voice on the campaign trail has degenerated to the level of background noise because of his erratic performance in recent weeks and the magnitude of these economic developments.

It is a Republican President, Republican Bill and for the most part Republican caused the problem. I find it amazing how Washington is so broken they do not even back up their leader. What a mess we are in. What a mess the next president will be walking into. Who knows what will be next. Experts said it will not be tell 2015 that we see our strength come back as a nation. Folks we are in for a long hard ride.

beck - part of the problem is Bush's lack of credibility. The dire warnings about the consequences of not enacting this bailout sounded an awful lot like the dire warnings about the consequences of not invading Iraq.

Its clear even a lot of Republicans just aren't convinced Bush is telling it like it is.

The only problem is, this time, I think he might be. I heard Libor rates shot up to 6 7/8 this morning. Credit could be starting to seize up.

The passengers are cold and wet in life boats, the ship's crew is in the water - pointing fingers of blame. It would be funny if it were not so serious. ........
http://thefiresidepost.com/2008/09/30/the-titanic-usa-is-sinking-passengers-are-in-life-boats/

Paul Credit has been for awhile now disappearing I went to refinance in aug and was told I could only borrow up to 65% of my home value

Fannie and Freddie acted in response to Clinton administration pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster.

ONE key pioneer of ACORN's subprime-loan shakedown racket was Madeline Talbott - an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae's mortgage policies.

Long the director of Chicago ACORN, Talbott is a specialist in "direct action" - organizers' term for their militant tactics of intimidation and disruption. Perhaps her most famous stunt was leading a group of ACORN protesters breaking into a meeting of the Chicago City Council to push for a "living wage" law, shouting in defiance as she was arrested for mob action and disorderly conduct. But her real legacy may be her drive to push banks into making risky mortgage loans.

HP,

Again your lack of credibilty shows.

The banking collapse had absolutely nothing to do with community organizers. It's another rediculous analogy. But as always, you have to stretch to try and find something negative to say about Obama.

In 2004, the SEC loosened regulations requiring that banks hold $1 for every $12 loaned and changed it to $1 for every $40 dollars loaned. They allowed only five banks to change their holdings-to-loan ratio and guess which five just collapsed?

Changing the debt ratios made it so that even a small number of defaults would collapse the system. The fall in the housing market made the collape inevitable. Thank you deregulators! (McSame)

The other issue stems from the way banks traded insured loans. In simplistic terms, they were all just insuring each other. So when one fell, they all fell. The changes in this policy began in the mid '90's.

So give up trying to blame Barack. Anyone with any sense knows it had nothing to do with him. You CAN blame the stauch supporters of deregulation. This would include John McCain and friends.

Yeah, reddog, I know its been a slow deterioration, but I'm thinking it could actually seize up as banks just say they're not going to make any lending transactions right now. If they're charging other banks almost 7 percent on loans today, they just aren't interested in making loans.

That said, someone told me they saw the 30-year fixed rates actually lower today than yesterday. I didn't look myself. Obviously one of those "facts" isn't consistent with the other.

I'm guessing we'll see 30-year fixed rates shoot up into double digits today or tomorrow - but that's just a guess.

castrated men are attacking and lying, covering a deep sense of inadequacy and a lack of inner support and solidity. they are reactive and play at being masculine. this is the same old approach that we have suffered under almost all leadership from McCain's generation. he is dangerously out of control...like his celebrated maverick identity...a castrated steer gone wild, wrecking havoc......lost.
a lost man. sad but true. not presidential material at all.

Staying away from a crisis because things may not not work out is not Leadership. The writer of this article needs a course in Leadership.

How would all of us respond if the CEO of our company did not join meetings in a crisis??Or how about a baseball coach who stayed away when the team was going down...Should a coach phone in his advice.

McCAIN DID THE RIGHT THING. Thats what leaders do. They are there to support there team/party no matter what the outcome is. In this case the outcome was not favorable. So they try to work at it again.

If nothing, Mccain's move got the focus back on Congress and they worked over the weekend. This is the CHANGE that we need. A new style where you do not hesistate to jump into the fray. What Obama did was politics as ususal. Infact it was Obama's campaign/ Pelosi/ Dodd/Reid who kept repeating that Mccain was a hindrance- rather than focusing on their jobs.

No surprise - the only thing I'd add is that the lenders should share some of the blame. Deregulation just opens the door for them to do some dumb stuff - but they're the ones who actually did the dumb stuff, like entice people with ridiculous loans.

HP is laughable, as is this developing talking point that somehow Democrats forced lenders to do this. And we all know that - the proof was in our mailboxes everyday with offer after offer to refinance our mortgages.

I don't know about you but I never asked for any of those offers. I don't believe the DNC was asking these lenders to send those offers to me, either. And fortunately for me I understood that when someone was telling me my mortgage payments could be 2/3 of what I'm currently paying, there was an element of risk to any such loan.

hms - all McCain did was politicize the discussion by intertwining his presidential campaign. It was a pure case of him trying to score political points without concern for the nation and these economic issues.

The "subprime" loans were not the real problem. It was the way banks were held accountable that changed.

They were allowed to borrow and then lend at a much higher level without holdings to back up the loans.

In 2004, the SEC changed the regulations. With the newly allowed 40:1 debt to holdings ratio, the banks soon ran out of "good loans" and began to make riskier loans.

When the housing market collapsed, this meant their holdings were used up to cover the defaults.

ACORN is not the root of this problem, but DEREGULATION of the banks IS at the heart of this mess. The five mega-banks that were deregulated are the very five that just failed!

And who just said, "I believe my support of deregulation helped our economy"???????

HINT: It rhymes with McPain.

I for one am not for the bailout until the TRUTH comes out that in 1999 Fannie/Freddie were deregulated to increase minority home ownership. Beginning in 2003 republicans made 17 requests with 2 bills to regulate Fannie/Freddie but democrats shot it down. Meanwhile the heads of the banking and financial committees Dodd and Barney along with ALL viable presidential nominees Kerry, Obama and Clinton took huge money and lobbied against the bill killing it.

Then Fannie/Freddie make a ton of bad loans in 2005-2007 and now democrats try blaming republicans when everything crashes. The crash is due to "social justice" which the democrats refused to regulate because it would "defeat their goal of increased poor and minority home ownership."

Here's a link and a quote from Barney (D) who obviously has 0 foresight and has no business being on the financial services committee. I know some of you will empty your heads pretend you didn't see that THE HOUSING CRISIS IS PRIMARILY DEMOCRATS FAULT FOR REFUSING TO REGULATE FANNIE/FREDDIE IN RETURN FOR CAMPAIGN CONTRIBUTIONS and keep commenting on Bush but this post is for the independants and moderates anyways who matter.

query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=all

2003 statements from the article -

''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.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

Paul-I guess we are back to the carter days SAD