It's About Time.
"Whatever the question, whatever the issues, there's always a back story with Senator Obama...Our current economic crisis is a good case in point. The crisis started in our housing market in the form of subprime loans that were pushed on people who could not afford them.
"Bad mortgages were being backed by Fannie Mae and Freddie Mac, and it was only a matter of time before a contagion of unsustainable debt began to spread," McCain said during an event in Albuquerque, NM.
"This corruption was encouraged by Democrats in Congress, and abetted by Senator Obama."
McCain said he raised the alarm and called for tighter borrowing rules on Fannie Mae and Freddie Mac two years ago, which could have helped stem the crisis.
By comparison, he said, Obama was "silent" while congressional Democrats fought efforts to rein in the mortgage giants.
"As recently as September of last year, [Obama] said that subprime loans had been, quote, 'a good idea.' Well, Senator Obama, that 'good idea' has now plunged this country into the worst financial crisis since the Great Depression," McCain said.
Carl Campanile, AP
Good. Keep it up. Harder.
"Bad mortgages were being backed by Fannie Mae and Freddie Mac, and it was only a matter of time before a contagion of unsustainable debt began to spread," McCain said during an event in Albuquerque, NM.
"This corruption was encouraged by Democrats in Congress, and abetted by Senator Obama."
McCain said he raised the alarm and called for tighter borrowing rules on Fannie Mae and Freddie Mac two years ago, which could have helped stem the crisis.
By comparison, he said, Obama was "silent" while congressional Democrats fought efforts to rein in the mortgage giants.
"As recently as September of last year, [Obama] said that subprime loans had been, quote, 'a good idea.' Well, Senator Obama, that 'good idea' has now plunged this country into the worst financial crisis since the Great Depression," McCain said.
Carl Campanile, AP
Good. Keep it up. Harder.
posted by John | 10:38 AM
3 Comments:
YES!
Hey jm. I owe you and z a visit...
They had a great opportunity to let them have it in the first two debates when they were asked about causes and Fannie Mae specifically, both McCain and Palin, and they passed.
If they thumped on this then, it would still be talked about and looked into more deeply, dominating the headlines. I hope it's not too late.
Post a Comment
<< Home