Monday, January 30, 2012

Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?

Let's make sure everyone knows McCain can't get us out of the mess he got us into in the first place. And oh yes McCain knows he caused this crisis the real question is does he care. I say No!



Never under estimate the power of money and corruption, both of which McCain has on his side. Do you think Halliburton or KBR, all the War profiteers want to loose their profits? Do you think the powerful lobbyist want to loose their ability to write Our laws to their benefit? We just gave Wall Street 700 billion to screw the people and they are still functioning without regulation. In 2000 it took the Supreme Court to give Bush his Presidency to destroy America. I don't under estimate the power of money or corruption of Mc Cain and religious right Palin.Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?Hell no. He doesn't know what he has done. But he was a POW don'tcha know!Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?
He'd realize it if it were true.Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?That's a good question. I do think so, which is why he tried to lie and blame everything on Obama.Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?
A lot of things helped cause the crisis, including programs championed by Democrats to increase home ownership, although many of those people couldn't afford houses. Many of the bad mortgages causing the credit crisis are the result of this regulation. This is just one example of regulation (not deregulation) helping to cause the crisis. Many of these Democrats were among the largest recipients of contributions from Fannie Mae and Freddie. Christopher Dodd, head of the Senate Banking Committee, also got a special mortgage rate from Angelo Mozillo, ex-head of Countrywide mortgage, another source of subprime mortgages, and said he didn't realize it was a "personal favor".



In the debates, McCain tried to point this out, and Obama said "there's a lot of blame to go around", before repeating his "all deregulation is bad" talking point.



McCain tried to reform Fannie and Freddie, but was blocked by some key Dems and others. Obama's experience is summarized (on ONE page) at obamasresume.org. There's nothing there about reform of the financial system. In fact, there's not much of anything.



In addition, some of the key deregulation legislation was championed and signed by BILL CLINTON.



I'm not saying McCain is blameless, but it takes a lot of people to cause a crisis this big.Do you think McCain realizes that deregulation policies he sponsored helped to cause the financial crisis?In reference to the previous answers , yeah, there's blame enough to go around, but I can't help thinking that a lot of those people that lost their homes would not have defaulted if our jobs hadn't been shipped overseas and our national treasure squandered in Iraq. While the poorest got poorer, it was the middle class getting poorer that lost their jobs and homes, waiting for that "trickle down" from the rich who got richer yet. Weren't those tax cuts for the wealthy Bush enacted and McCain wants to continue supposed to prevent this?
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