*** ohn McCain warned about corruption at Fannie Mae and Freddie Mac in 2005. He even introduced a bill to address the problems. ***

Claim: McCain championed legislation that would have prevented the current financal meltdown

Fact: False/Misleading

In his September 19th speach in Arlington, VA., Sen. McCain states:

"Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal"

What he is referring to is a Senate bill (S.190[109th] Federal Housing Enterprise Regulatory Reform Act of 2005) which was originally authored by Sen. Charles Hagel and co-sponsored by Sen. Sununu and Sen. Dole. It was not until after a 2006 Office of Federal Housing Enterprise Oversight Report to Congress outlining problems with the two organizations that Sen. McCain decided to add his name to the bill as a co-sponsor. The bill never made it out of committee (Senate Committee on Banking, Housing and Urban Affairs), which was at the time controlled by a Republican majority and chaired by Republican Senator Richard Shelby. The statement about Congress and Sen. Obama doing nothing is true, but misleading, since there was nothing that they could have done until the bill came to the floor of the Senate, which it never did.

http://www.govtrack.us/congress/bill.xpd?bill=s109-190

THE WALL STREET BAILOUT IS A TRAP:

YOU DID THE RIGHT THING people by stopping this 700 billion dollar bailout of Wall Street with your money. It's a trap set by the Bush McCain administration years ago to spring on you, and the World just before the November elections. It will cripple our economy for years to come by taking away money from important social programs like health care reform, education, and social security.

What ever congress does to try and fix our stunning economic catastrophe needs to be done very carefully. Congress needs to take their time, and be sure of what they are doing. Whatever is done needs to be sharply focused at helping, and protecting the best interest of the ordinary Americans. In particular the vast American middle class. 700 billion dollars is a lot of the peoples money to spend to bail out a bunch of corrupt Bush loan sharks.

When have you ever known any government plan, or project to only cost what the government said it would. Remember the war in Iraq. Bush and his so-called advisers said it would only cost you about 80 billion dollars. But we now know that the war in Iraq will cost you, and your children, and your grand children over a trillion dollars, and still counting.

So if 80 billion can end up costing you over a trillion dollars. How much could 700 billion end up costing you. Any math wizards out there. I come up with 9 trillion...:-(

My fellow human beings, just as I warned you ahead of this catastrophic economic meltdown, I must now warn you that what is ahead has the potential to be even more catastrophic than what we are going through now. The worlds geopolitical landscape has been booby trapped by the Bush McCain administration and their republican allies in congress. These booby traps are poised to spring at any time.

Fortunately the Worlds Nations have been blessed with many excellent leaders (except the US) who have been careful, wise, strong, and self-restrained in dealing with the provocations, and antagonism's of the Bush, McCain administration.

Barack Obama and the democrats are your best hope now. Tell your family, friends, and everyone you know to support them as best you can, and vote for them like your life, and the lives of your loved ones depends on it. Because it does. You will not survive 4 more years of Bush McCain.

JACK SMITH - WORKING CLASS...

It is becoming increasingly harder to support Obama - with each passing day, another disappointment, another betrayal, another signal that he offers little more than the rhetoric of change.

Geevill,

Where do you live?

We do have pints in the NE.

We have Irish, Scottish and English here Mr Evil.

Bottom line - the reason that McCain and Obama support this ridiculous bailout is this .. their way of life as scum sucking politicians will dry up! If you want to know the real answer as to whether this should be passed ... ask someone outside of Washington who runs a successful business! Casino owners in Vegas and Trump - ALL of them said "h*ll NO"!!!

hmn: what bill do you think they should pass? what would you like to have written into it? We have to do something because if we don't most Americans will wake up tomorrow and not have a job or any place to live. So, what do you guys who keep crying "don't pass this bill" think this bill should show? How do you think it should read?

How does Obama know there will be a catastrophe? No one predicted that bargain hunters would have run stock prices back up a day after the bailout bill was defeated in the House. The way Obama is buying Bush's line about a impending "catastrophe," I'm wondering if Obama would have bought Bush's scary images of mushroom clouds and WMD and voted for going to Iraq, had he been in the senate then.

John McCain warned about corruption at Fannie Mae and Freddie Mac in 2005. He introduced legislation in 2005 to address the problems with these institutions. Democrats killed the legislation, saying that Freddie and Fannie were being run just fine. Who was right – McCain or the Democrats? I let the taxpayers be the judge.

I was against the bailout and Bush is an SOB. He lied about wmd's tha they were in Iraq, but if Obama says we could be in a catastrophe maybe we better slow down and study this bailout situation a little more. George Bush reminds me of little kid in the neighborhood who always makes up stuff but it's never true. So what happens when he finally says the truth we can't believe him because he has been constantly lying. Bush is a total failure and this is his last chance to do something right. The problem is that he has never told the truth to American people so it's very difficult for anyone to believe in him.

geevill exposed!!!!

geevill is not American citizen

Is Barney Frank the chicken or the hen?

*** John McCain warned about corruption at Fannie Mae and Freddie Mac in 2005. He introduced legislation in 2005 to address the problems with these institutions. Democrats killed the legislation ***

Claim: McCain championed legislation that would have prevented the current financal meltdown

Fact: False/Misleading

In his September 19th speach in Arlington, VA., Sen. McCain states:

"Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal"

What he is referring to is a Senate bill (S.190[109th] Federal Housing Enterprise Regulatory Reform Act of 2005) which was originally authored by Sen. Charles Hagel and co-sponsored by Sen. Sununu and Sen. Dole. It was not until after a 2006 Office of Federal Housing Enterprise Oversight Report to Congress outlining problems with the two organizations that Sen. McCain decided to add his name to the bill as a co-sponsor. The bill never made it out of committee (Senate Committee on Banking, Housing and Urban Affairs), which was at the time controlled by a Republican majority and chaired by Republican Senator Richard Shelby. The statement about Congress and Sen. Obama doing nothing is true, but misleading, since there was nothing that they could have done until the bill came to the floor of the Senate, which it never did.

http://www.govtrack.us/congress/bill.xpd?bill=s109-190

Steve_NJ

The people who "set the fire" are Democrats.

Much as most of us loathe the idea of bailing out these bankers who have become rich at our expense, if we don't do it the consequences for all of us are pretty dire. Either way is unpleasant, but without the bailout is awful.

Now I know.

Geevill we want to see your birth certificate you Wazhiristanian?

All Americans know what a pint is. Only guys like MR. Gee Evil from Uzbekhistan don't know.

Keith,

Since when did Bush, McCain, Gramm and other deregulating neocons become democrats?

It’s funny how so many Democrats are attacking Sarah Palin, but not a peep of criticism from Hillary or Bill. Bill’s campaigning for Obama, and telling audiences John McCain is a great man. His private description of Obama: a Chicago thug. I love Hill & Bill!!!! I was a little pissed when they left office and tried to carry off half the White House, but they’ve worked their way back into my good graces. Help defeat the Mus-- (oops, I see the Missouri Truth Squad coming up my driveway, so I gotta log off fast.) See ya!

Thanks Steve,

so you have pints in LIBERAL New England. People don't ask for pints in the COuth, Midwest, or Western states.

I notice obama did not state any specific concerns. more nothingness.

"If the financial rescue bill fails in Congress yet again, the present crisis will turn into a disaster." Who said that, Obama? NOOOOO-- McCain. Sounds to me like he supports the bill just as much as Obama, eh McCainiacs?

Those of you who blaming Wall St. for the problems ought to look in the mirror...I bet many of you benefitted from the easy credit available and are living beyond your means. You can blame banks for giving people loans who had bad credit but I am sure many of you were happy to look the other way when your home values were going up because the market was hot...So, blame Wall St. all you want but they were providing what Main St. wanted (i.e, easy access to cash, home ownership, and economy booming). And I am sure many of you voted for the folks who provided this gross lack of oversight because they supported a governmental hands-off approach to the economy. So, America should look at itself in the mirror. The demagoguery and railing that is going on now against the bill is insane. Doing nothing is not an option since it will lead to disaster. Muddling along is no better either since it deepens and prolongs the problem. I don't like providing $700 billion dollars to shore up the economy. But I do believe something needs to be done now to relieve the crisis....not days, weeks, months, from now.

*** oops, I see the Missouri Truth Squad coming up my driveway, so I gotta log off fast. ***

I find it amusing that people pull this Missouri incident out as if it is somehow a bad thing to actually enforce existing laws regarding false and deceptive advertising. As the numbers continue to drop, we will see more and more 'grasping at straws' I'm afraid.