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  1. #11  
    Senior Member LibraryLady's Avatar
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    Quote Originally Posted by JB View Post
    What did O'Bomber say when he saw this? Present?

    Are you psychic???
    Barack Obama has claimed that he foresaw the subprime mortgage collapse and took steps to warn the Treasury — by writing a letter. That claim has come in two presidential debates. Peter Wallison reminds Wall Street Journal readers of the obvious in pointing out that Obama serves as a Senator and had the power to draft legislation, not letters, to prevent the collapse. Instead, Obama voted present:

    Finally, on the matter of deregulation and the financial crisis, Sen. Obama should consider his own complicity in the failure of Congress to adopt legislation that might have prevented the subprime meltdown.

    In the summer of 2005, a bill emerged from the Senate Banking Committee that considerably tightened regulations on Fannie and Freddie, including controls over their capital and their ability to hold portfolios of mortgages or mortgage-backed securities. All the Republicans voted for the bill in committee; all the Democrats voted against it. To get the bill to a vote in the Senate, a few Democratic votes were necessary to limit debate. This was a time for the leadership Sen. Obama says he can offer, but neither he nor any other Democrat stepped forward.

    Instead, by his own account, Mr. Obama wrote a letter to the Treasury Secretary, allegedly putting himself on record that subprime loans were dangerous and had to be dealt with. This is revealing; if true, it indicates Sen. Obama knew there was a problem with subprime lending — but was unwilling to confront his own party by pressing for legislation to control it. As a demonstration of character and leadership capacity, it bears a strong resemblance to something else in Sen. Obama’s past: voting present.
    I mentioned this in an earlier debate analysis. It demonstrates a key difference between Obama and John McCain. When McCain saw the potential for crisis, he took action by co-sponsoring Chuck Hagel’s Fannie/Freddie reform bill that would have increased regulation on the two GSEs. He spoke in the Senate for its passage.

    What did Barack Obama do? He wrote a letter. He didn’t bother to co-sponsor the bill that could have prevented this year’s financial collapse, or to even allow it to come to a vote. Obama talked (allegedly — we have yet to see this letter) while McCain took action.
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  2. #12  
    CU Royalty JB's Avatar
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    Quote Originally Posted by LibraryLady View Post
    Are you psychic???
    Not really. By saying Obama "voted present", the odds were overwhelmingly in my favor that I would be correct.

    Besides, all I really wanted to do was kick the thread because the CU libs have been mysteriously absent from this thread. ;)
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  3. #13  
    CU's Tallest Midget! PoliCon's Avatar
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    The press is not about to do anything to damage their m0ssiah unless they are forced so to do. I mean if they do - he might not let them blow him any more.
    Stand up for what is right, even if you have to stand alone.
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  4. #14  
    Super Moderator BadCat's Avatar
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    Quote Originally Posted by PoliCon View Post
    The press is not about to do anything to damage their m0ssiah unless they are forced so to do. I mean if they do - he might not let them blow him any more.
    This is the last "hurrah" for the American press. They have completely and unabashedly sold their souls to Hussien Obama. They are banking everything on his win, they no longer care about integrity or accountability.

    Even an old moonbat like Walter Cronkite is kicking in his grave.
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  5. #15  
    Senior Member LibraryLady's Avatar
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    Quote Originally Posted by BadCat View Post
    Even an old moonbat like Walter Cronkite is kicking in his grave.
    He's still alive
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  6. #16  
    CU's Tallest Midget! PoliCon's Avatar
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    Quote Originally Posted by LibraryLady View Post
    He's still alive
    are you sure? I mean they could just be propping him up for a weekend at bernies . . . .
    Stand up for what is right, even if you have to stand alone.
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  7. #17  
    Super Moderator BadCat's Avatar
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    Quote Originally Posted by LibraryLady View Post
    He's still alive

    He is?
    Damn, coulda fooled me.
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