9/17/2008 - The McCain Lie of the Day

aps · 09-18-08, 05:46 AM

Quote:

Originally Posted by danarhea

Here is what John McCain just said:

But here is what McCain said about 10 months ago:

Once again, I need not post anything one way or the other here. McCain certainly makes the case against himself all by himself, and needs no help from me.

Article is here.

I can't see the video from here. Does it show the guy who asks a 3-part question and McCain looking like a deer in headlights? His first response was that he wasn't smart enough to answer the question. Wow--that's someone I want in the White House. NOT.

Rachel Maddow's show showed a lengthy video related to this question-and-answer session. It made McCain look like he didn't know what he was talking about. I actually felt sorry for McCain.

Zyphlin · 09-18-08, 08:33 AM

Great so you've basically proven me correct.

9/17/2008 - The Danahrea Lie of the Day

Quote:

Originally Posted by danarhea

It is true that I selectively quoted. That is because I wanted to see what the Bushneviks and the McCain supporters would say. You guys were true to form, and now I can post the entirety of what McCain said 10 months ago. Enjoy.

Good thing I'm not either of those.

Quote:

Read especially the bolded part. Actually, you could have done that before by clicking on the link I supplied.

I did read your link. That's where I found the part you PURPOSEFULLY STILL have left out, that proves you are the lier, not McCain in this....at least by the standard you're attempting to hold him to.

Quote:

Like I said in my first post, I didn't have to really post anything extra. McCain's own words speak for themselves. LOL.

Yes they do.

Lets look at McCain's words:

"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems"

And lets look at what your article says:

"McCain did indeed deliver a speech on the Senate floor in 2006 in which he warned of a problem with Fannie Mae and Freddie Mac and the risks they posed to the housing market and the economy as a whole. "

Well holy **** Dana, what do you know. You purposefully have still left out the fact that McCain DID deliver a speech 2 years ago where he warned that hte oversight of Frannie and Freddie was in trouble and that they were facing a possible crisis because of it.

Wait...that's EXACTLY WHAT MCCAIN SAID

But of course, by your own standards you're trying to hold McCain to, you LIED by not pointing out that he did EXACTLy what he said he did.

Why do you lie so much Dana? I mean, by your standard, why do you lie so much?

Harshaw · 09-18-08, 07:50 PM

Quote:

Originally Posted by danarhea

Really? Here is the Fannie Mae web site. This information comes straight from the horse's mouth. In April of 2007, Fannie Mae reported that:

OK, now we have established that Fannie Mae engaged in the subprime market. Now this:

Note - Fannie Mae claims in April of 2007 that subprime was less than 2.5 percent of its business. Nobody sees a problem here yet.

Now note this from the International Herald Tribune, printed July 30, 2007:

That was the first time the actual extent of Fannie Mae and Freddie Mac in subprime lending was actually disclosed. Before July 30, 2007, nobody knew.

2 years ago would put the date at September 17, 2006, almost a full year before the actual disclosures. See the problem yet, or do you believe that McCain should change his name to Karnak the Soothsayer? Or maybe McCain lied.

1) He said he warned about the problems at Freddie Mac and Fannie Mae two years ago. You say this is a lie.

2) I linked to statements he made in Congress two years ago which show he did exactly that.

Your obsession with sliming McCain is really reaching pathological and disturbing proportions. "Conservative," indeed.

danarhea · 09-18-08, 07:56 PM

Quote:

Originally Posted by Harshaw

1) He said he warned about the problems at Freddie Mac and Fannie Mae two years ago. You say this is a lie.

2) I linked to statements he made in Congress two years ago which show he did exactly that.

Your obsession with sliming McCain is really reaching pathological and disturbing proportions. "Conservative," indeed.

2 different problems, as I have already shown with McCain's statement, taken directly from the Congressional Record web site.

As for your ad hominem attack, consider it reported.

Harshaw · 09-18-08, 08:05 PM

Quote:

Originally Posted by danarhea

2 different problems, as I have already shown with McCain's statement, taken directly from the Congressional Record web site.

Here's what he said yesterday.

Quote:

Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.

Here's what he said in Congress in 2006 (I linked to it earlier).

Quote:

Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.

There. Is. No. Lie.

Anybody fair-minded can see that.

Goose · 09-18-08, 08:35 PM

Quote:

Originally Posted by danarhea

Here is what John McCain just said:

But here is what McCain said about 10 months ago:

Once again, I need not post anything one way or the other here. McCain certainly makes the case against himself all by himself, and needs no help from me.

Article is here.

He didn't lie; he saw it coming no less than 3 years ago, while "He Who Must Not Be Middle-Named" was racking up campain contributions from Freddie and Fannie and putting their executives on his campaign staff. So who's clouding the issue?

In the meantime, for a laugh, check out http://wwwgrandoldtees.com.

danarhea · 09-18-08, 08:37 PM

Quote:

Originally Posted by Harshaw

Here's what he said yesterday.

Here's what he said in Congress in 2006 (I linked to it earlier).

There. Is. No. Lie.

Anybody fair-minded can see that.

I noticed that you did not bold the pertinent part of his congressional speech - Over inflation of earnings in order to get bonuses. THAT is what he was referring to 2 years ago. Fact is, nobody knew the extent to which Fannie Mae and Freddie Mac were bogged down in bad mortgages until August 30, 2007, well over a year AFTER McCain had made his statement in Congress. McCain also said that only a handful of people had thought there was going to be a meltdown at all due to sub prime mortgages, and he dismissed those handful of economists. That statement, and the link to it, is also in an earlier post of mine. Simply put, his statement in Congress is in the context of stating overearnings to get bonuses. His recent statement is in the context of sub prime lending practices, and is quite misleading.

Finally, thank you for no personal attacks in your last post. Neither of us need to be doing that, as it only derails a good discussion, as this one may turn out to be, with your help. Thank you.

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