This deserves a repost...

Fannie Mae vet protests McCain ad
By: Politico Staff
September 19, 2008 06:28 PM EST

A former Fannie Mae executive has written to The New York Times in an effort to escalate Democrats' pushback to a McCain campaign ad accusing Sen. Barack Obama (D-Ill.) of guilt by association with former officials of the mortgage giant.

The McCain ad, called "Advice," says: "Fannie Mae collapsed. Taxpayers? Stuck with the bill. Barack Obama. Bad advice. Bad instincts. Not ready to lead."

The former executive's letter, not yet published, was provided to Politico:

To The Editor:

Yesterday, Senator John McCain released a television commercial attacking Barack Obama for allegedly receiving advice on the economy from former Fannie Mae CEO Franklin Raines. From the stump, he has recently tried tying Senator Obama to Fannie Mae, as if there is some guilt in the association with Fannie Mae's former executives.

It is an interesting card for Senator McCain to play, given that his campaign manager, Rick Davis, was paid by Fannie Mae and Freddie Mac several hundred thousand dollars early in this decade to head up an organization to lobby in their behalf called The Homeownership Alliance. ...

I worked in government relations for Fannie Mae for more than 20 years, leading the group for most of those years. When I see photographs of Sen. McCain's staff, it looks to me like the team of lobbyists who used to report to me. Senator McCain's attack on Senator Obama is a cheap shot, and hypocritical.

Sincerely,

William Maloni
Fannie Mae Senior Vice President for Government and Industry Relations (1983-2004)

Isn't the media great?  How the rightwing has been able to convince their flock that the 'liberal' media is out to get them will never cease to amaze me.....

When a 'media' type purposely keep out half the story.... it is a blatant distortion of the facts.

They make up crap about Obama having (what we know are non-existing) ties to a crumbling economy.... but ignore the fact that Grampy has surrounded himself with lobbyists that have been part and parcel to the FannieMae/FreddieMac meltdown.

One more thing on that....... isn't it interesting how these same financial geniuses have been clamoring/demanding the removal of government regulations the last 30 years because those regulations allegedly stamped out and/or killed off innovation and what not and yet when they are given what they wanted all along they drive all that innovation down to the ground via wanting unheard of profits..... but when that fails.... they demand that government step in to save them..... at We the Peoples expense..... from both ends! 

The least these ass-clowns could have done was at least offer up a little vasaline!

I have no sympathy for any of these rat-bastards!  They deserve all that happens  to them and hope that President Obama sends his DOJ after each and every one of them!

I think it worth an extra point to note that the "free market" only applies when republicans are making money. They shut down short selling on purpose because it would take money away from them. Republicans just proved that they are really socialists in conservative clothing.

That's why it's a free market. Because they get everything for free.

Even more disturbing, news reporting today indicates the sec of treasury has complete control where the 700 Billion dollar bailout can be apportioned. that is a lot of power given to the Bush governance.

Actually, we seem to have the WORST of both worlds evidenced here. The robber barons get to privatize (for themselves) the profits of their endeavors and, if needed, socialize the losses.

They inflated this bubble until NO ONE would buy into it any longer, recognizing that these assets were greatly over-valued. Then, they turned to 'we the people' whose representatives lacked the cojones to regulate them - to take this junk off of their hands.

Perhaps even sadder than the $700 BILLION ( that's $2,000 for each of the 350 million Americans ) going down a rat hole is that by 'saving' them this time, we are only encouraging them to get right back to it. Why NOT make long-odds bets if you know you can collect if you win and turn to Uncle Sam if you lose?

McCain just hired another lobbyist to work on his presidential transition team should he win the election. A guy named William E. Timmons, Sr. I find these two paragraphs from the post quite ironic:

Timmons is the chairman emeritus of Timmons and Company, a small but influential lobbying firm he founded in 1975 shortly after leaving the White House. According to Senate records, he registered to lobby in 2008 for a wide range of companies and trade groups, including the American Petroleum Institute, the American Medical Association, Chrysler, Freddie Mac, Visa USA and Anheuser-Busch.

His registrations include work on a number of issues that have become flashpoints in the presidential campaign. He has registered to work on bills that deal with the regulations of troubled mortgage lenders Freddie Mac and Fannie Mae, a bill to provide farm subsidies and bills that regulate domestic oil-drilling.

McCain just threw honor under the bus with truth and justice...

McCain just threw honor under the bus with truth and justice...

Snoop, the former POW did that a long time ago... Now, he just keeps backing up over all those things under the bus every day to try to get some traction. And it's about as pretty as road kill...

Speaking of, I just read an interesting piece about bush's bailout request over at huffpo. This part really caught my eye:

Section 8 ... of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

So if this is right, Bush is asking for unfettered power to give away that $700 billion with no oversight and no control over any hopes of recouping the taxpayers money, right? Is that for real?

That crap should be the front story for every news agency out there!

Snoopy,

That is for real:

http://cunningrealist.blogspot.com/2008/09/blank-check.html

It's been noticed, but whether or not the press will pick up on it is another story.

Thank you, Snoopy.  I knew it was bad, but had no idea it was this bad.  No wonder Bush and them are in such a hurry to get it passed before anyone has a chance to study it and realize the full extent of what they are trying to do.  This would be an unprecedented power grab, the equivalent of an economic dictatorship, governing by decree.  Remember the Patriot Act, and how quickly it was rammed down our throats ?  Back then, it was "we must act right now to prevent another attack"; now it's "we must act right now to prevent an economic collapse".  I agree with what you said earlier, this is just a transfer of wealth from us to the Wall Street Robber Barons.

How far south in texas, may I ask?

Kinda far - Victoria.

I thought you were gonna say Harlingen! ;)

This is OT but is anyone else getting calls and or mailings from the Republicans to pick up an absentee ballot?

I received one a few weeks ago from the New Jersey Republicans and I just got a call from the Republican Party in Virginia offering to send me an absentee ballot to vote in VA.

I've heard there're been reports in other states too.

Are you a registered Republican?  If not, isn't this illegal?

No, I've never been a Republican. I live in New Jersey and was registered to vote in Virginia five years ago, but even in VA, i was a registered Democrat.

I've heard about these mailers.  There must be a way to send those responsible for this misdirection to prison where they can work in the mailroom and dig some ditches.  Maybe contacting the sec. of state in New Jersey?

I emailed the secretary of the Democratic Party in my county. I threw the application they sent me in NJ in the trash the day i received it. i didn't find out until later about how the Republican Party in FL  and other states was attempting to suppress the turnout by getting people to apply for absentee ballots.

I'm forwarding my VA mail to my NJ address. I'm going to hold onto the one they promised to send from VA.

Illegal to be a Republican? :-0) Yes, it should be!

Leave it to a Moonbat to write that ;-)

What else should be illegal Miz Julia? Having an opinion that differs from a Dem/Libs?

No Jeter honey, but YOU should be illegal though! Damn dangerous stuff ya got there handsome fella. :-0) And I ain't talking about a differing opinion.

Got an Obama sign in yer yard yet, matey?

Got an Obama sign in yer yard yet, matey?

Hey beautiful not only do I have an Obama sign, I'm willing to convert from Con to Lib for you.

Heck I'd even become a Moonbat to win your love Miz Julia ;-)

I'm willing to convert from Con to Lib for you

Well, of course, if we're gettin' hitched, that wouid be a requirement. Especially since we'll be raising the little rascals as liberals :-0) I see we're having a cyber weddin'!

Now Julia, you only confirm the worst about libruls, they want to take your guns and your convention away and put you on another planet...maybe one where the rivers have already dried up and the air is unbreathable ;-)

maybe one where the rivers have already dried up and the air is unbreathable ;-) 

Hmmn, sounds like a good place for those illegal Republicans. :-0) A librul version of Australia back in the day when the British used it as a penal colony. :-0) Damn law breakers and constitution shredders.

"maybe one where the rivers have already dried up and the air is unbreathable ;-) "

Oh no you don't. We don't want them in New Jersey either.

That's too funny. and I thought Jersey was the Garden State :-)

It is the Garden State.

It's really a beautiful place, but we do love how the rest of the country has stereotyped us. 

Two of my very favorite people are from the Garden State.  However, they both left there as soon as they could ;-) 

I've heard that it has many beautiful areas (like everywhere on this planet)

I've read several reports and there is also a democratic lawsuit against the GOP on this. If you don't send it back, your name gets added to a list of ballots the GOP intends to challenge on election day. See here and here and here.

Snoopy, voter caging at it's finest.

Unlike Jeter, who's raging to de-flower our finest? ;)

Guilty as charged Snoop :-)

But it's ok, Miz Julia & I are planning a cyber wedding here at MMFA. 

If you need a best dog, I can be there for ya bud! And as a dog, I can fetch and retrieve that wedding band as often as necessary for our running bride and groom!

Excuse me...  I'm not sure how I got into this AOL chatroom - I don't know if was some kind of 56k harmonic time jump or something.  But I'd appreciate if someone could point me toward the exit door.

Thanks, much obliged...

Just make a sharp turn to the right.

Yeah, that's always a good idea for an exit strategy, Oscar. Boo-Yah!

Hey Neon, sorry about  my part in the AOL chat room kerfuffle :-0) I assume you'll be asking for the exit when the colonel and Tommy get married here at long last? It's about time for those crazy kids to tie the knot. :-)

Obviously this is a ploy by the Obama campaign to frame the Republicans and make it look like they engage in dirty tricks.

</sarcasm>

West didn't "mislead." She LIED!

I wonder what my progressive friends here think of the salaries paid to these three fine Democrats while heading Fannie Mae? :-)

Raines $90 Million

Goerlick $26.4 Million

Johnson $21 Million

I don't know, what do you think of McCain's 87 wall street lobbyists - oops, make that 88 now - who are working for his campaign?

Most logical progressives think that as long as they're paying taxes on those salaries, more power to them.

I realize that's hard to fathom, Barney, when your whole outlook is based on the stereotypical strawman characterization of liberals in which one of their traits is having an aversion to success.  But anyone who isn't a slave to the neoconservative paranoid narrative would already presume that answer, and not even ask such an inane and rhetorical question.

I enjoyed this response in a Think Progress thread to another right wing talkingpointer over there:

"most of us are aware that SOME Dems have SOME tendencies toward the toxic economic policies that most Republicans happily wallow in. (See, for instance, John Judis: http://blogs.tnr.com/tnr/blogs/the_plank/archive/2008/09/15/looking-backward.aspx .) So can you please stop trying to distracting us from the party that overwhelmingly bears primary blame for the mess — and which now seems willing to use that mess as leverage to turn the US into a classic Crony Capitalist state?"

http://yglesias.thinkprogress.org/archives/2008/09/mccain_ill_pretend_to_reign_in_ceo_pay.php?sortby=toprated

It seems that I've misjudged conservative fiscal policy all these years.  I never realized the depths to which it sank.

For years we've heard from conservatives about how the astronomical incomes made by some is warranted by the big risks they take when investing their capital.  Turns out that - surprisingly - limpaugh et al have been misguiding their audiences about that level of risk.

In fact, considering that nearly 1 trillion tax dollars are going toward hedging the unwise bets the upper 10% has been making, I'm thinking our progressive tax structure that conservatives whine about being unfair isn't progressive enough.

And now we're seeing real-world proof that trickle-up economics works a lot faster and more realiably than trickle-down economics.

You can say that again.  Cash for trash; meanwhile the taxpayer gets nothing.

Nice post, and very concise, Neon. But don't worry, all of those "risk-takers" on Wall Street getting their Gubmint checks will still be able to convince the working stiff zombies to just keep pulling up those bootstraps, and they'll get the same treatment. Suckers.

Say, AA, I'm quite sure you have a link showing that these guys are all democrats. Care to share?

"I wonder what my progressive friends here think of the salaries paid to these three fine Democrats while heading Fannie Mae? :-)"

How much money did they lose when "these three fine Democrats" were running the company? Is it as much as now?

I guess Raines will have to write every single cultic screwball personally and tell them that he didn't advise Obama.

.

Mary, I love you. I really do. Especially now that you entered into posting political cartoons. My fave realm...

I return the love, thanks.  You're my favorite doggie ever.

I meant to attribute that cartoon to The Funny Times. http://www.funnytimes.com/

My son has a subscription:  it comes in newspaper format once a month & contains a wide variety of political cartoons and satire (progressive, naturally)

It's hard to compete in the humor department with jokers like McCain, who now pretends he hasn't been for deregulation of every safeguard that would prevent these big biz disasters...