Saturday, September 27, 2008
Friday, September 26, 2008
Sen. Coburn Mad At Rice
Rice just looks like a sissy! What a wimp!
Bob
NEWS RELEASE - OKLAHOMA VICTORY 2008
FOR IMMEDIATE RELEASE
CONTACT: Aaron Cooper 405.528.3501
Dr. Coburn Says Andrew Rice Has Neither the Experience nor the Ideas to Address Nation's Financial Crisis
(Tulsa, OK; Sept. 26, 2008) – Oklahoma Victory 2008 today released the following statement from U.S. Senator Tom Coburn in response to U.S. Senate candidate Andrew Rice’s attacks on Senator Inhofe and Rice’s attempts to align himself with Senator Coburn’s leadership:
“Andrew Rice has neither the experience nor the ideas to address our nation’s financial crisis. Nor does he have any basis for associating his liberal agenda with my record of limiting the growth of government. His attempt to associate his agenda with mine in the context of a partisan attack against Jim Inhofe is personally offensive to me and an affront to Oklahoma voters,” Dr. Coburn said.
“Senator Jim Inhofe, unlike Andrew Rice, has a record of keeping taxes low and government limited. Had Washington politicians followed Jim Inhofe’s conservative philosophy we would be in much more secure position today. Andrew Rice, on the other hand, would empower Senate liberals who want to increase taxes, orchestrate a government takeover of health care and pass on crushing debt to future generations,” Dr. Coburn said.
“Finally, it’s absurd that Andrew Rice now wants to associate his views with mine when he actively worked to elect Brad Carson in 2004. In fact, Rice was part of Carson’s left-wing political base and was offended that Carson wouldn’t proudly identify himself as a liberal. Rice was a liberal then and he’s a liberal now. He should campaign on his true convictions, not try to hide his views behind baseless partisan attacks,” Dr. Coburn said.
(END)
Bob
NEWS RELEASE - OKLAHOMA VICTORY 2008
FOR IMMEDIATE RELEASE
CONTACT: Aaron Cooper 405.528.3501
Dr. Coburn Says Andrew Rice Has Neither the Experience nor the Ideas to Address Nation's Financial Crisis
(Tulsa, OK; Sept. 26, 2008) – Oklahoma Victory 2008 today released the following statement from U.S. Senator Tom Coburn in response to U.S. Senate candidate Andrew Rice’s attacks on Senator Inhofe and Rice’s attempts to align himself with Senator Coburn’s leadership:
“Andrew Rice has neither the experience nor the ideas to address our nation’s financial crisis. Nor does he have any basis for associating his liberal agenda with my record of limiting the growth of government. His attempt to associate his agenda with mine in the context of a partisan attack against Jim Inhofe is personally offensive to me and an affront to Oklahoma voters,” Dr. Coburn said.
“Senator Jim Inhofe, unlike Andrew Rice, has a record of keeping taxes low and government limited. Had Washington politicians followed Jim Inhofe’s conservative philosophy we would be in much more secure position today. Andrew Rice, on the other hand, would empower Senate liberals who want to increase taxes, orchestrate a government takeover of health care and pass on crushing debt to future generations,” Dr. Coburn said.
“Finally, it’s absurd that Andrew Rice now wants to associate his views with mine when he actively worked to elect Brad Carson in 2004. In fact, Rice was part of Carson’s left-wing political base and was offended that Carson wouldn’t proudly identify himself as a liberal. Rice was a liberal then and he’s a liberal now. He should campaign on his true convictions, not try to hide his views behind baseless partisan attacks,” Dr. Coburn said.
(END)
Helen Cole Club Sets Record
Here in Cleveland County we are blessed to have two very hard working Women's Club. These woman put in long hours working to help elect conservative Republican candidates. They make phone calls, pass out door hangers and raise money for candidates.
The Helen Cole Club has recently set a record in contributing to candidates. To date they have given candidates over $9,000.00. The money has not only gone to local candidates they have given to state wide candidates, as well.
Hats off to Pat Allen, President of the Helen Cole Club, Barbara Cleveland, Fund Raiser Chair, to all the women in the Helen Cole Club 2008. It takes team work to raise this kind of money.
Please support our Women's Club's in Cleveland County.
Bob
The Helen Cole Club has recently set a record in contributing to candidates. To date they have given candidates over $9,000.00. The money has not only gone to local candidates they have given to state wide candidates, as well.
Hats off to Pat Allen, President of the Helen Cole Club, Barbara Cleveland, Fund Raiser Chair, to all the women in the Helen Cole Club 2008. It takes team work to raise this kind of money.
Please support our Women's Club's in Cleveland County.
Bob
New Attack On God
Wallbuilders
Washington, D. C. is filled with impressive structures openly acknowledging God: the Washington Monument , the Jefferson Memorial, the Library of Congress, the Capitol, the Lincoln Memorial, and many others.
The newest federal structure (scheduled to open in just a few months) is the Capitol Visitor Center – a massive underground facility that spans more area than the Capitol itself. It will acquaint some 15,000 visitors each day – including thousands of school children – with the 200 year history of the Capitol as well as its current content and operation. However, the new Visitor Center has deliberately censored mentions of God from both the Capitol's historical and current aspects.
For example, in presenting the Northwest Ordinance of 1787, Visitor Center officials actually deleted the words "religion and morality" from the document. And in presenting images of the current Speaker's Rostrum in the House Chamber, they deliberately omitted the phrase "In God We Trust" from its prominent location engraved in marble above the Speaker's head. There are many other examples. No wonder a congressman has dubbed it the "$600 million dollar godless pit."
But not only does the Center censor God and religion from America's history but it also contains basic historical errors about the war of 1812, the Bill of Rights, the constitutional separation of powers, and many other simple topics.
Washington, D. C. is filled with impressive structures openly acknowledging God: the Washington Monument , the Jefferson Memorial, the Library of Congress, the Capitol, the Lincoln Memorial, and many others.
The newest federal structure (scheduled to open in just a few months) is the Capitol Visitor Center – a massive underground facility that spans more area than the Capitol itself. It will acquaint some 15,000 visitors each day – including thousands of school children – with the 200 year history of the Capitol as well as its current content and operation. However, the new Visitor Center has deliberately censored mentions of God from both the Capitol's historical and current aspects.
For example, in presenting the Northwest Ordinance of 1787, Visitor Center officials actually deleted the words "religion and morality" from the document. And in presenting images of the current Speaker's Rostrum in the House Chamber, they deliberately omitted the phrase "In God We Trust" from its prominent location engraved in marble above the Speaker's head. There are many other examples. No wonder a congressman has dubbed it the "$600 million dollar godless pit."
But not only does the Center censor God and religion from America's history but it also contains basic historical errors about the war of 1812, the Bill of Rights, the constitutional separation of powers, and many other simple topics.
Nichols On His Way To Victory
According to the most recent survey by the Pat McFerron a nationally recognized pollester, Senator Jonathan Nichols has a 23 point lead over his opponent, a liberal Democrat lawyer Diane Drum. Attacking one of Oklahoma's most conservative Senators is just not working. Diane Drum has received the majority of her money from liberal trial lawyers outside Cleveland County. Jonathan is one of the most popular state Senators we have ever had in Cleveland County. The voters know thy can depend on Jonathan as a person that will fight for stricter laws to put criminals behind bars.
Bob
Bob
Peta/Ben And Jerry's
Proving again just how goofy they are, PETA asked Ben & Jerry’s to substitute human breast milk for cow milk in its ice cream. (Press release and letter from PETA below). Some might say this idea is udderly outrageous! And while we are using play on words, let me suggest some new flavors if Ben & Jerry’s makes the switch . . .
Busty Monkey
Butter Pectoral Pecan
S’Mores
And Peanut Double D Cup (see below)
Press Release from PETA –
The Breast Is Best! PETA Asks Ben & Jerry's to Dump Dairy and Go With Human Milk Instead
For Immediate Release:
September 23, 2008
Contact:
Ashley Byrne 757-622-7382
Burlington, Vt. - This morning, PETA dispatched a letter to Ben Cohen and Jerry Greenfield, cofounders of ice cream icon Ben & Jerry's Homemade Inc., urging them to replace the cow's milk in their products with human breast milk. PETA's request comes in the wake of news reports that a Swiss restaurant owner will begin purchasing breast milk from nursing mothers and substituting breast milk for 75 percent of the cow's milk in the food he serves. PETA points out to Cohen and Greenfield that such a move on their part would lessen the suffering of dairy cows and their babies on factory farms and benefit human health at the same time.
"The fact that human adults consume huge quantities of dairy products made from milk that was meant for a baby cow just doesn't make sense," says PETA Executive Vice President Tracy Reiman. "Everyone knows that 'the breast is best,' so Ben & Jerry's could do consumers and cows a big favor by making the switch to breast milk."
For more information, please visit PETA's Web site Blog.PETA.org or click here.
How Much Change Change Can We Afford
George Bush has been in office for 7 1/2 years. The first six the
economy was fine.
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars, taking cruises, vacations overseas,
living large!...
But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic
Congress and
yes--we got 'CHANGE' all right. In the PAST YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon & climbing!;
3) Unemployment is up to 5.5% (a 10% increase);
4) Americans have seen their home equity drop by $12 trillion dollars and
pricesare still dropping;
5) 1% of American homes are in foreclosure.
6) The DOW is probing another low~~$2.5 trillion dollars has evaporated
from our stock, bond, & mutual funds investment portfolios!
Yes, in 206 America voted for change..and we sure got it!
Now the Democratic Candidate for President says he is really going to give
us change
Just how much more change can we stand?
economy was fine.
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars, taking cruises, vacations overseas,
living large!...
But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic
Congress and
yes--we got 'CHANGE' all right. In the PAST YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon & climbing!;
3) Unemployment is up to 5.5% (a 10% increase);
4) Americans have seen their home equity drop by $12 trillion dollars and
pricesare still dropping;
5) 1% of American homes are in foreclosure.
6) The DOW is probing another low~~$2.5 trillion dollars has evaporated
from our stock, bond, & mutual funds investment portfolios!
Yes, in 206 America voted for change..and we sure got it!
Now the Democratic Candidate for President says he is really going to give
us change
Just how much more change can we stand?
Judges On The Ballot "Say NO To Liberals"
I just received my absentee ballot. On the ballot is a long list of judges. Should the judges be retained yes----no. I made a few calls trying to determine which of the judges were liberal and which were conservative. One thing that amazed me was it is very difficult to find out information about judges. They will not respond to any type of questionnaires. In fact, they seem to not want the public to know much about them. So my next thought was to look and see who appointed them to office.
As my mom always told me, "you are judged by the company you keep". You can vote for judges appointed by a liberal like former Governor "Walters" or an even more liberal like Brad Henry. I am only voting to retain Johnson and Lumpkin; both have rock solid reputations and were appointed by conservative Henry Bellmon. It is time we take voting for judges serious! Did you know that in Oklahoma we have never voted a judge out of office, at the ballot box.
Bob
Supreme Court Justices
District 1 - John Reif, appointed by Henry District 6 - Tom Colbert, appointed by Henry
District 9 - Joseph Watt, appointed in 1992 (Walters)
Court of Criminal Appeals
District 2 - Charles Johnson, appointed in 1989 (Bellmon)
District 3 - Gary Lumpkin, appointed in 1988 (Bellmon)
Court of Civil Appeals
District 1, Office 1 - Jerry Goodman, appointed by Walters
District 1, Office 2 - Jane Wiseman, appointed by Henry
District 2, Office 2 - Keith Rapp, elected way back before they got appointed
District 3, Office 2 - John Fischer, appointed by Henry
As my mom always told me, "you are judged by the company you keep". You can vote for judges appointed by a liberal like former Governor "Walters" or an even more liberal like Brad Henry. I am only voting to retain Johnson and Lumpkin; both have rock solid reputations and were appointed by conservative Henry Bellmon. It is time we take voting for judges serious! Did you know that in Oklahoma we have never voted a judge out of office, at the ballot box.
Bob
Supreme Court Justices
District 1 - John Reif, appointed by Henry District 6 - Tom Colbert, appointed by Henry
District 9 - Joseph Watt, appointed in 1992 (Walters)
Court of Criminal Appeals
District 2 - Charles Johnson, appointed in 1989 (Bellmon)
District 3 - Gary Lumpkin, appointed in 1988 (Bellmon)
Court of Civil Appeals
District 1, Office 1 - Jerry Goodman, appointed by Walters
District 1, Office 2 - Jane Wiseman, appointed by Henry
District 2, Office 2 - Keith Rapp, elected way back before they got appointed
District 3, Office 2 - John Fischer, appointed by Henry
Tuesday, September 23, 2008
11 Year Suspended
AURORA (MyFOXColorado.com) - An 11-year-old in Aurora says his first amendment rights are being trampled after he was suspended for wearing a homemade shirt that reads "Obama is a terrorist's best friend."
The fifth grader at Aurora Frontier K-8 School wore it on a day when students were asked to wear red, white and blue to show their patriotism.
The boy's father Dann Dalton describes himself as a "proud conservative" who has taken part in some controversial anti-abortion protests. Dalton says the school made a major mistake by suspending his son for wearing the shirt.
"It's the public school system," Dalton says. "Let's be honest, it's full of liberal loons."
The school district told the student, Daxx Dalton, that he had the choice of changing his shirt, turning his shirt inside out or being suspended.
Daxx chose suspension.
"They're taking away my right of freedom of speech," he says. "If I have the right to wear this shirt I'm going to use it. And if the only way to use it is get suspended, then I'm going to get suspended."
Daxx's dad agrees with him and is encouraging his son to stand his ground. "The facts are his rights were violated. Period."
Aurora Public Schools would not talk about the case but said the district "Respects a student's right to free speech, such as the right to wear specific clothing," but administrators say they review any situation that interrupts the learning environment.
Paperwork submitted by the school district says Daxx Dalton was not suspended for wearing the shirt, but for willful disobedience and defiance.
The boy's father says he intends to pursue a lawsuit against the district.
Monday, September 22, 2008
Steve Fair Has It Right
USED TIRES AND MORTGAGES!
It’s forty-two days until November 4th- Election Day 2008. Because of the recent actions of Congress to bail out some publicly traded companies in the mortgage lending business, the spotlight in the race has shifted to the economy.
George W. Bush, Republicans and even Ronald Reagan are being blamed for the current bailout situation. But Congressman Barney Frank, D-Mass. And Senator Chris Dodd, D, Conn. Chair the respective committees responsible for the oversight and regulation of the industry and must bear some of the responsibility.
Back in 2005, a bill was presented in the Senate Banking committee that would have revamped Freddie Mac and Fannie Mae. It was voted down “along party lines” with the Dems opposing increased regulation. Many of the U.S. Senators who protected Fannie and Freddie, including Barrack Obama, Hillary Clinton and Mr. Dodd have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
And Mr. Frank said in 2002, shortly before accounting problems were exposed at both companies, ““I do not regard Fannie Mae and Freddie Mac as problems,” The Wall Street Journal reported after the Freddie Mac accounting scandal in 2003, Frank said, “I do not think we are facing any kind of a crisis.”
The industries that are in trouble- banking and home mortgage companies- are businesses that government has always highly regulated. Some criticize the free market system, but make no mistake these businesses did not operate in a pure free market.
Twenty years ago, if you got a mortgage, you had the option of meeting with your local banker, completing a loan application and then having the local bank loan you the money for your house. For all practical purposes, local banks got out of the mortgage market when government-guaranteed mortgage lenders entered the business, pooling trillions of dollars of mortgages based on a broad geographical base of loans from around the country. This was done in the name of asset diversification. It also cut out local monitoring and removed that personal touch from banking that defined the industry.
If you want a mortgage now, a statistician assesses the risk. Nobody is hired locally to monitor the loans and collect monthly payments. While the process sounds efficient, the reason we are in this mess is because the standards to qualify for a mortgage loan were lowered to a level that virtually anyone qualified. Mortgages became like used tires- someone always had a better deal.
If people continue to walk away from their homes and if new lenders are not found to fund replacement owners, America will experience hundreds of billions of dollars of property equity decline by the end of 2009. Local banks will likely be back in the mortgage business. There will be empty houses detorating and at some point, squatters and the weather will take over what were once nice homes. Ben Bernanke, the head of the Federal Reserve, expects “local” banks to step in and help solve the crisis. That solution will likely be houses for sale at “garage sale” prices with the difference in market value and sale price supplemented by taxpayer dollars.
Bailing out private industry- regulated or not- is not the function of government. And not all lawmakers are for throwing a lift vest to every sinking company. South Carolina U.S. Senator Jim DeMint who is the latest conservative lawmaker to publicly oppose the Treasury Department's estimated $700 billion Wall Street bailout, saying it could "make matters much worse by socializing an entire sector of the U.S. economy." "Most Americans are paying their bills on time and investing responsibly and should not be forced to pay for the reckless actions of some on Wall Street, especially when no one can guarantee this will solve our current problems," DeMint said. "This plan will not only cause our nation to fall off the debt cliff, it could send the value of the dollar into a free-fall as investors around the world question our ability to repay our debts."
Fiscal issues should be discussed in this presidential race. The candidates have two very different records on fiscal matters. Senator Obama believes government is the solution but as proven by this crisis, more government regulation is not the answer. McCain is a true fiscal conservative. He wants to make the Bush tax cuts permanent, eliminate earmark spending and balance the federal budget. He has pledged to veto any bill with an earmark in it and “make the person responsible famous.” If it were your money- and it is- which plan makes the most sense?
Steve Fair is Chairman of the 4th District of the Oklahoma Republican Party. He can be reached by phone at 580.252.6284 or by email at okgop@aol.com. His blog is stevefair.blogspot.com.
It’s forty-two days until November 4th- Election Day 2008. Because of the recent actions of Congress to bail out some publicly traded companies in the mortgage lending business, the spotlight in the race has shifted to the economy.
George W. Bush, Republicans and even Ronald Reagan are being blamed for the current bailout situation. But Congressman Barney Frank, D-Mass. And Senator Chris Dodd, D, Conn. Chair the respective committees responsible for the oversight and regulation of the industry and must bear some of the responsibility.
Back in 2005, a bill was presented in the Senate Banking committee that would have revamped Freddie Mac and Fannie Mae. It was voted down “along party lines” with the Dems opposing increased regulation. Many of the U.S. Senators who protected Fannie and Freddie, including Barrack Obama, Hillary Clinton and Mr. Dodd have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
And Mr. Frank said in 2002, shortly before accounting problems were exposed at both companies, ““I do not regard Fannie Mae and Freddie Mac as problems,” The Wall Street Journal reported after the Freddie Mac accounting scandal in 2003, Frank said, “I do not think we are facing any kind of a crisis.”
The industries that are in trouble- banking and home mortgage companies- are businesses that government has always highly regulated. Some criticize the free market system, but make no mistake these businesses did not operate in a pure free market.
Twenty years ago, if you got a mortgage, you had the option of meeting with your local banker, completing a loan application and then having the local bank loan you the money for your house. For all practical purposes, local banks got out of the mortgage market when government-guaranteed mortgage lenders entered the business, pooling trillions of dollars of mortgages based on a broad geographical base of loans from around the country. This was done in the name of asset diversification. It also cut out local monitoring and removed that personal touch from banking that defined the industry.
If you want a mortgage now, a statistician assesses the risk. Nobody is hired locally to monitor the loans and collect monthly payments. While the process sounds efficient, the reason we are in this mess is because the standards to qualify for a mortgage loan were lowered to a level that virtually anyone qualified. Mortgages became like used tires- someone always had a better deal.
If people continue to walk away from their homes and if new lenders are not found to fund replacement owners, America will experience hundreds of billions of dollars of property equity decline by the end of 2009. Local banks will likely be back in the mortgage business. There will be empty houses detorating and at some point, squatters and the weather will take over what were once nice homes. Ben Bernanke, the head of the Federal Reserve, expects “local” banks to step in and help solve the crisis. That solution will likely be houses for sale at “garage sale” prices with the difference in market value and sale price supplemented by taxpayer dollars.
Bailing out private industry- regulated or not- is not the function of government. And not all lawmakers are for throwing a lift vest to every sinking company. South Carolina U.S. Senator Jim DeMint who is the latest conservative lawmaker to publicly oppose the Treasury Department's estimated $700 billion Wall Street bailout, saying it could "make matters much worse by socializing an entire sector of the U.S. economy." "Most Americans are paying their bills on time and investing responsibly and should not be forced to pay for the reckless actions of some on Wall Street, especially when no one can guarantee this will solve our current problems," DeMint said. "This plan will not only cause our nation to fall off the debt cliff, it could send the value of the dollar into a free-fall as investors around the world question our ability to repay our debts."
Fiscal issues should be discussed in this presidential race. The candidates have two very different records on fiscal matters. Senator Obama believes government is the solution but as proven by this crisis, more government regulation is not the answer. McCain is a true fiscal conservative. He wants to make the Bush tax cuts permanent, eliminate earmark spending and balance the federal budget. He has pledged to veto any bill with an earmark in it and “make the person responsible famous.” If it were your money- and it is- which plan makes the most sense?
Steve Fair is Chairman of the 4th District of the Oklahoma Republican Party. He can be reached by phone at 580.252.6284 or by email at okgop@aol.com. His blog is stevefair.blogspot.com.
Democrats Cause Economic Problem
For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.
Different World
If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.
But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.
That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''
Mounds of Materials
Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.
There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.)
To contact the writer of this column: Kevin Hassett at khassett@aei.org
Last Updated: September 22, 2008 00:04 EDT
Different World
If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.
But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.
That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''
Mounds of Materials
Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.
But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.
Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.
Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.
There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.
(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.)
To contact the writer of this column: Kevin Hassett at khassett@aei.org
Last Updated: September 22, 2008 00:04 EDT
Biden To Step Down, Hillary Next V.P.Pick
I have been saying this for a couple of weeks............ now this article.... don't know by whom, but it has a ring of truth to it...
On or about October 5th, Biden will excuse himself from the ticket, citing
health problems, and he will be replaced by Hillary. This is timed to occur
after the VP debate on 10/2.
There have been talks all weekend about how to proceed with this info.
Generally, the feeling is that we should all go ahead and get it out there
to as many blog sites and personal email lists as is possible. I have
already seen a few short blurbs about this - the 'health problem' cited in
those articles was aneurysm. Probably many of you have heard the same
rumblings.
However, at this point, with this inside info from the DNC, it looks like
this Obama strategy will be a go. Therefore, it seems that the best
strategy is to get out in front of this Obama maneuver, spell it out in
detail, and thereby expose it for the grand manipulation that it is.
So, let's start mixing this one up and cut the Obamites off at the pass -
send this info out to as many people as you can - post about it on websites
and blogs - etc.
On or about October 5th, Biden will excuse himself from the ticket, citing
health problems, and he will be replaced by Hillary. This is timed to occur
after the VP debate on 10/2.
There have been talks all weekend about how to proceed with this info.
Generally, the feeling is that we should all go ahead and get it out there
to as many blog sites and personal email lists as is possible. I have
already seen a few short blurbs about this - the 'health problem' cited in
those articles was aneurysm. Probably many of you have heard the same
rumblings.
However, at this point, with this inside info from the DNC, it looks like
this Obama strategy will be a go. Therefore, it seems that the best
strategy is to get out in front of this Obama maneuver, spell it out in
detail, and thereby expose it for the grand manipulation that it is.
So, let's start mixing this one up and cut the Obamites off at the pass -
send this info out to as many people as you can - post about it on websites
and blogs - etc.
Sunday, September 21, 2008
Palin Speaks To 60,000
Palin draws crowd of 60,000 in The Villages
BY BILL COTTERELL • NEWS-PRESS.COM CAPITAL BUREAU • SEPTEMBER 21, 2008
THE VILLAGES -- Republican vice presidential nominee Sarah Palin told wildly cheering, flag-waving, chanting supporters that John McCain is "the only great man in this race" and promised Sunday he will fix the nation's economy if voters give the GOP four more years in the White House.
"He won't say this, so I'll say it for him," the Alaska governor said in an almost confidential tone at the close of her first Florida stump speech. "There is only one man in this election who has ever really fought for you. John McCain wore the uniform of his country for 22 years -- talk about tough."
The Villages, a vast, upscale planned community north of Orlando, has about 70,000 mostly adult residents -- many of them military retirees -- who vote reliably Republican in statewide races. Tens of thousands inched along roads into the picturesque town square of the complex, where they stood in sweltering heat for about four hours as local GOP officials and a country band revved up the crowd.
"Sa-Rah! Sa-Rah!" they chanted at every mention of her name, applauding loudly and waiving tiny American flags that were distributed -- along with free water bottles -- by local volunteers. The fire chief estimated the crowd at 60,000.
Admiring throngs mobbed the Palin family's arrival and departure, snapping souvenir pictures. Autograph seekers thrust campaign signs, caps with the McCain-Palin logo and copies of magazines with her face on their covers, and the Palins responded warmly.
Palin, her husband and three of their children arrived in Orlando but spent a family day at Disney World, she said as she introduced her entourage to the enthusiastic crowd. She joked about similarities and differences of the two states at opposite corners of America, but was all business when she focused on the need for a large voter turnout in a hotly contested state with 27 electoral votes.
Recent polls have given the McCain-Palin ticket a single-digit edge but Florida is clearly up for grabs. Sen. Barack Obama, D-Ill., campaigned from Jacksonville to Miami late last week and the Democrats have mobilized a massive volunteer effort statewide. McCain, who led the Jan. 29 state primary with a big boost from popular Gov. Charlie Crist, has strong support in the vital I-4 corridor and across North Florida, where conservative southerners tend to register as Democrats but vote Republican in statewide races.
In a theme Palin would pound home, GOP Chairman Jim Greer Greer said Obama and his running mate, Delaware Sen. Joe Biden, have records of voting for higher taxes and have said on the campaign trail that they would increase regulation of financial markets.
"John MCain and I are going to take our case for reform to every voter in every background and every party, or no party at all," said Palin. "We're going to Washington to shake things up."
She said "John McCain warned Congress that we needed to do something before these problems became a crisis," but that Washington -- including Obama and Biden -- did not act for months as financial giants teetered and toppled.
"Americans are caught in kind of a perfect storm between high taxes, high gas prices, greed on Wall Street and a shortage of courage in Washington," she said.
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