In May of 2006, John McCain wrote a letter, signed by 19 other Senators, to the Republican leadership in the Senate, expressing support for a bill entitled, 'The Federal Housing Enterprise Regulatory Reform Act.'
The Senate Banking Committee had already put its stamp of approval on the bill, and McCain and the group of 19 urged Senate Majority Leader Bill Frist and Senate Banking, Housing, and Urban Affairs Chair Richard Shelby to bring the bill to the floor of the Senate for a vote.
That bill would have put the screws on corruption in FannieMae and FreddieMac, the 2 federal housing agencies that were so corrupt that no wonder the housing market went into a tailspin, leading to the present difficulty in our economy.
Not only does the letter prove that McCain was ahead of the game on this, long before anyone sounded a serious alarm, but it shows the signatures of the Senators who added their names to the word of warning.
It is of utmost importance to note that Senator Elizabeth Dole, R-NC, is one of the signers. Yet she is in the fight of her life to keep her Senate seat in North Carolina. It would seem that voters in N.C. are blaming all the wrong people.
Guess whose name is not on that letter? One Barack Obama, who continues to spin a tale claiming he 'warned' about it early on.
Well, where is the proof, Mr. Obama, particularly when some of your best buddies in Fannie and Freddie were the very ones up to their eyeballs in scandal?
Read the complete story and the text of the letter HERE at Human Events.
Sunday, October 12, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment